Deutsche Bank CEO John Cryan on Friday sought to calm staffers about the soundness of the bank, after shares fell to fresh record lows on reports of the departure of approximately 10 hedge fund clients.
"Our bank has become subject to speculation," John Cryan said in a internal letter that outlined the bank’s financial position and urged employees to not allow a "distorted perception" from interrupting its business.
Commerzbank plans to cut around 9,600 jobs in the next few years and scrap its dividend for the time being as it restructures to become profitable. The restructuring plan through 2020 will cost about €1.1 billion ($1.2 billion). Actually it employs about 45,000 full-time staff.
"The focus on the core business, with some business activities being discontinued, and the digitalisation and automation of workflows will lead to staff reductions amounting to around 9,600 full-time positions," Commerzbank said.
LaFerrari Aperta has made its first appearance in public at the Paris Motor Show on Thursday, the droptop version of the brand’s hybrid hypercar launched in 2013.
Ferrari sales head Enrico Galliera said to Reuters that it will be limited to 209 special edition cars, 200 of which have already been pre-sold while the remainder will be kept in house for anniversary celebrations and added: “For us a limited edition is a way to reward our clients".
BlackBerry, the canadian firm that invented the smartphone, stops making mobil phones, John Chen, BlackBerry executive chairman and CEO, said Wedsneday.
The new strategy will enable Blackberry to “focus all of our efforts on where we can deliver differentiation in software and security” which is “aligned with where the market is going,” CEO John Chen said as the company released Q2 earnings.
Anheuser-Busch InBev’s shareholders have approved the $104 billion takeover of rival SABMiller at a general meeting in Brussels. It’s the third largest deal, with the merger between the first and the second global group.
The deal was given the thumbs up by more than 95% of SAB shareholders who voted. AB InBev chief executive Carlos Brit said: “We are pleased that our shareholders’ vote brings us one step closer to combining our companies, teams, strong heritage and passion for brewing”, before announcing that the name Anheuser-Busch would remain.
Deutsche Bank sells the London-based insurance company Abbey Life to Phoenix Group for 935 million pounds (1.1 billion euros, $ 1.22 billion).
This was communicated by the German bank that took over Abbey Life in 2007, stressing that the operation will have a positive impact on capital of 1.1 billion euro. Although the transaction "will have a net positive capital impact," it’s expected to lead to a pre-tax loss of around €800 million "primarily resulting from impairment of goodwill and intangible assets."
Rostek, russian state company, is considering to increase the stake of private investors in arm makers Kalashnikov as reported by the Russian news agency Tass. Moreover, the number one Russian conglomerate Sergei Chemezov, would be satisfied to hold 25% plus one share of the capital of the company, namely the controlling stake, while the rest would go into private hands. At the moment Kalashnikov belongs 51% to Rostek, while 49% is owned by private investors, among them the general manager of the company and two Russian oligarchs.
World TV Suisse, company listed on AIM Italy, announced the results of the first half of 2016, closed with a production value of 1.46 million Swiss francs, 42% fewer than the 2.58 million achieved in the first half last year, due to the slowdown of some productions for which, at the request of the client, it was decided to modify the general approach of the series and it is still going on the pre-production activities.
