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LSE-Deutsche Boerse merger plan being investigated

stockexchangereuters

The European Commission is planning to open an in-depth investigation into the planned £21bn merger of London’s Stock Exchange and Germany’s Deutsche Boerse. The scheme would combine the stock exchanges of the UK, Germany and Italy and some big clearing houses to create Europe’s largest exchange operator. Commissioner Margrethe Vestager said it had to make sure that financial markets remained ...

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Sainsbury’s sales slip as food prices continue to fall

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Sainsbury’s has reported a second consecutive quarter of falling sales, blaming falling food prices. Excluding fuel, like-for-like sales, which strip out the impact of new store openings, fell 1.1% in the 16 weeks to 24 September. Total sales fell 0.4%. Despite the drop, the UK’s second-largest supermarket said it was continuing to make progress. Chief executive Mike Coupe said he ...

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Germany ‘prepares Deutsche Bank rescue’

deutsche

The German government and financial authorities are working on a rescue plan for Deutsche Bank in case it cannot pay fines in the US, according to Die Zeit newspaper. Germany’s biggest lender is facing a $14bn (£10.8bn; €12.5bn) bill for mis-selling mortgage-backed bonds before the financial crisis of 2008. In the worst-case scenario, the government would even take a 25% ...

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End of an era: BlackBerry will stop making its own phones

blackberry

It’s the end of an era for BlackBerry. The company, famous for making cellphones with physical keyboards that were once so popular people nicknamed them Crackberries, has decided to stop making its own devices. BlackBerry said on Wednesday that it will rely on partners to manufacture the phones, which will still have BlackBerry’s look and feel. The company announced a ...

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Europe Stocks Tumble as Deutsche Bank Sinks to Fresh Record Low

stocks

A plunge in banks put a halt to the optimism that lifted European equities last week, sending them to their biggest slumps since early July. Growing worries over Deutsche Bank AG’s capital buffers dragged the stock to a fresh all-time low and cast a pall on its peers. A gauge tracking the firms trades at 0.66 times book value, less ...

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UK:Business Consultants Are Having a Great Brexit

brexit

Brexit is proving a boon for some workers, according to a survey that paints a generally upbeat picture of the labor market since Britain voted to leave the European Union. Vacancies for business consultants rose 5 percent in August and were up 10 percent from a year earlier, job-search engine Adzuna said in the report published Tuesday. Average salaries climbed 9 ...

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Europe:Oil prices fall as hopes of production freeze fade

An oil pump is seen in Lagunillas, Venezuela, August 13, 2016. REUTERS/Jesus Contreras

Oil prices slipped on Thursday as the market focused on oversupply and fading hopes of a production freeze. Global crude oil benchmark Brent LCOc1 was down 15 cents at $48.90 a barrel by 0830 GMT, having closed down 1.8 percent on Wednesday. U.S. light crude oil CLc1 was unchanged at $46.77 a barrel, after dropping 2.8 percent on Wednesday. Oil ...

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Eurostar strikes by RMT and TSSA suspended for talks

EUROSTAR

Strikes by Eurostar workers at the RMT and TSSA unions will be suspended from midnight to allow further talks, they have said. The unions had been due to hold four separate strikes over August, in a dispute about work-life balance. The RMT said the strike halt was to allow “further, detailed negotiations after some progress in talks”. And the TSSA ...

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Banks and tech firms apply blockchain to trade finance

HSBC headquarters building is seen in Pudong financial district in Shanghai December 8, 2010.   REUTERS/Carlos Barria/File Photo

An HSBC and Bank of America Merrill Lynch venture and financial technology firm R3 said separately on Wednesday that they had created ways of using blockchain technology to simplify trade finance processes. The two banks said they had joined with the Infocomm Development Authority of Singapore to emulate a letter of credit (LOC) transaction. Letters of credit are one of ...

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HSBC, StanChart help UK banking index recoup post-Brexit losses

A man walks past a HSBC bank branch in the City of London, Britain November 12, 2014.   REUTERS/Stefan Wermuth/File Photo

Britain’s leading banking index .FTNMX8350 inched higher on Tuesday and recovered, in sterling terms, all of the losses it suffered in the aftermath of June’s landmark vote in which the UK vote to leave the European Union. The FTSE 350 Banks index .FTNMX8350 was up 0.3 percent higher at 3,412.48 points by 0705 GMT (3:05 a.m. EDT) after rising to ...

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