24 C
Lagos, South Africa and New York
Tuesday, August 11, 2020

Deutsche Bank board to discuss CEO and make decision on Sunday

FRANKFURT (Reuters) - Deutsche Bank’s (DBKGn.DE) supervisory board intends to “take a decision” on Sunday after discussing John Cryan’s job at the helm of the bank, the German lender said late on Saturday. In a brief statement, the bank confirmed earlier reports that Chairman...

U.S. pulls out of Open Skies treaty, Trump’s latest treaty withdrawal

Steve Holland WASHINGTON (Reuters) - The United States announced its intention on Thursday to withdraw from the 35-nation Open Skies treaty allowing unarmed surveillance flights over member countries, the Trump administration’s latest move to pull the country out of a major global treaty. The administration said...

What global finance chiefs are saying about the global economy

  by Andrew Mayeda, Enda Curran and Jeanna Smialek, Bloomberg Don’t celebrate too soon. That was the key message as policy makers and investors left Washington on Sunday after attending the annual meetings of the International Monetary Fund and World Bank. For once the mood was upbeat....

China’s economic growth may be looking at another rough quarter

China Beige Book says Wednesday that results of its third quarter survey are the weakest so far this year. Critically, the firm finds that debt levels remain on the rise, with bond issuance climbing to its highest...

BlackRock punishes 53 companies over climate inaction

BlackRock has punished more than 50 companies from US oil major ExxonMobil to Swedish carmaker Volvo over their lack of progress on tackling global warming, six months after it warned of huge investment risks from climate change. Larry Fink, chief executive of the $6.8tn investment...

Third-quarter economic growth is expected to be a tepid 1.6%, but markets could look past it

Third quarter growth is expected to be just 1.6%, but the markets should look past the weak report as investors await the Fed. The weak number reflects declines in business...

Five big ideas Africa can use to safeguard lives in Covid-19 crisis, prepare for future pandemic – McKinsey & Company

McKinsey & Company has highlighted five big ideas to safeguard lives in the Covid-19 crisis and for the continent to prepare for the future. The global management consultancy services company stated this in a report titled: "Acting now to strengthen Africa's health systems," obtained recently. It...

China fixes its yuan midpoint at 7.0326 per dollar

China’s central bank set the official midpoint reference rate for the yuan at 7.0326 per dollar on Tuesday, stronger than what analysts were expecting. It was the fourth consecutive session where the People’s Bank of China set...

Recession fears grips Africa’s cash-strapped producers over Oil crash

By Libby George LAGOS, March 30 - Collapsing oil prices have left African producers facing not only lost revenue when they most need it to tackle coronavirus, but also a fall in hard-won market share they may never regain. The continent's producers such as Nigeria,...

‘Awfully high’ risks of a global recession in the next 12-18 months, Moody’s chief economist says

Avoiding a recession requires many factors to “stick to script” at the same time, says Mark Zandi, chief economist of Moody’s Analytics. That includes U.S. President Donald Trump not escalating the tariff war with China, the U.K....
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