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China’s Wanda Sports raises $190.4 million in downsized IPO

3 weeks ago DieselGasoil Comments Off on China’s Wanda Sports raises $190.4 million in downsized IPO
HONG KONG/NEW YORK (Reuters) – Wanda Sports Group (WSG.O), a sport events owner whose interests include selling sponsorship rights to the FIFA World Cup, said on Friday it priced a smaller-than-expected U.S. initial public offering (IPO) below its targeted range to raise $190.4 million. The Beijing-based company, a unit of Chinese conglomerate Dalian Wanda Group, Read More

OPEC+ mission to buoy oil market enters make-or-break phase

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By Grant Smith on 7/25/2019 LONDON (Bloomberg) –The latest mission by OPEC and its partners to contain an oil glut is entering its most critical phase. Saudi Arabia, Russia and other major crude exporters struggled to keep a surplus in check over the past six months despite cutting their production, and oil prices remain stuck Read More

Citi hires JPMorgan asset management executive for Asia equities business

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FILE PHOTO: A Citibank branch is seen in Santa Monica, California, U.S. March 19, 2018. REUTERS/Lucy Nicholson/File Photo HONG KONG (Reuters) – Citigroup (C.N) said on Thursday it has hired Curt Engler, a senior executive from JPMorgan’s (JPM.N) asset management business in New York, as its Asia Pacific head of equities execution services. Based in Read More

Wells Fargo hires Comerica’s Julia Wellborn to lead private bank

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(Reuters) – Wells Fargo & Co said on Wednesday Julia Wellborn will become the head of Private Wealth Management, ending a months-long search for a leader following the retirement of Jay Welker last year. Wellborn joins Wells Fargo from Comerica Bank where she was head of wealth management. Prior to Comerica, she was a regional Read More

Deutsche Bank stumbles to big loss on road to reinvention

3 weeks ago DieselGasoil Comments Off on Deutsche Bank stumbles to big loss on road to reinvention
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) reported a bigger than forecast quarterly loss of 3.15 billion euros ($3.5 billion), underlining the challenges faced by Chief Executive Christian Sewing as he attempts to turn around the struggling business. Germany’s largest bank had already flagged it would lose around 2.8 billion euros in the quarter when it Read More

Deutsche Bank suffers $3.5 billion loss on road to reinvention

3 weeks ago DieselGasoil Comments Off on Deutsche Bank suffers $3.5 billion loss on road to reinvention
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) reported a bigger than forecast quarterly loss of 3.15 billion euros ($3.5 billion), underlining the challenges it faces as it attempts to turn around its struggling business. FILE PHOTO: The logo of Deutsche Bank is on display ahead of the bank’s annual shareholder meeting in Frankfurt, Germany, May 23, Read More

Deutsche Bank suffers $3.5 billion quarterly loss

3 weeks ago DieselGasoil Comments Off on Deutsche Bank suffers $3.5 billion quarterly loss
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) reported a bigger than forecast quarterly loss of 3.15 billion euros ($3.5 billion) because of major costs stemming from its efforts to reshape its business. FILE PHOTO: The logo of Deutsche Bank is on display ahead of the bank’s annual shareholder meeting in Frankfurt, Germany, May 23, 2019. REUTERS/Kai Read More

AmEx warns of higher costs as it boosts rewards program, shares fall

4 weeks ago DieselGasoil Comments Off on AmEx warns of higher costs as it boosts rewards program, shares fall
(Reuters) – American Express Co (AXP.N) warned of higher operating costs this year as the credit card issuer spends heavily on rewards programs to attract customers in an increasingly crowded market, sending its shares down 2.5% on Friday. FILE PHOTO: American Express logo and trading symbol are displayed on a screen at the New York Read More

Aramco IPO bankers question whether deal is worth the effort

4 weeks ago DieselGasoil Comments Off on Aramco IPO bankers question whether deal is worth the effort
By Nicolas Parasie, Dinesh Nair and Matthew Martin on 7/18/2019 DUBAI (Bloomberg) — When Saudi Arabia announced plans to sell shares in its crown jewel Aramco, international bankers scrambled to get a piece of the action. Three years on, they’re questioning whether what could be the world’s biggest IPO is worth their time and effort. Read More