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Estonia warns of risks in wake of money laundering scandal

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FRANKFURT (Reuters) – Banks in Estonia have not yet plugged all the gaps in their money laundering controls, the Baltic state’s regulator told Reuters, pledging to maintain a clampdown in the country at the center of one of Europe’s biggest financial scandals. FILE PHOTO: Kilvar Kessler, the head of Estonia’s banks supervisor, the Finantsinspektsioon, Picture Read More

Exclusive: Italy’s UniCredit puts possible Commerzbank bid on ice for now – sources

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LONDON/MILAN (Reuters) – Italy’s UniCredit has put a possible bid for Commerzbank on ice as the German rival does not want to engage in negotiations so soon after the collapse of merger talks with Deutsche Bank, four sources said. FILE PHOTO: A Commerzbank logo is pictured before the bank’s annual news conference in Frankfurt, Germany, Read More

Danske Bank ousts former interim CEO after customers overcharged

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COPENHAGEN (Reuters) – Danske Bank has dismissed its former interim chief executive Jesper Nielsen after customers were overcharged for an investment product, a first step by its new boss to restore trust in the troubled lender. FILE PHOTO: Danske Bank interim CEO Jesper Nielsen speaks at a public hearing at the Danish parliament in Copenhagen, Read More

Daimler slumps as diesel (gasoil) costs wipe out profit growth

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FRANKFURT (Reuters) – Daimler shares fell as much as 5% on Monday after the German automaker cut its profit forecast for the third time in 12 months, saying it was setting aside hundreds of millions of euros to cover a regulatory crackdown on diesel (gasoil) emissions. The Daimler logo is seen before the Daimler annual Read More

Natixis’ H2O sells some illiquid debt to try to staunch outflows

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PARIS/LONDON (Reuters) – H2O, one of French bank Natixis’ asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money. The business, which contributed about 11% of Natixis’ net income last year, said on Monday the move had led it to Read More

U.S. regulators ask Deutsche Bank to explain ‘bad bank’ proposal: FT

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A Deutsche Bank logo adorns a wall at the company’s headquarters in Frankfurt, Germany June 9, 2015. REUTERS/Ralph Orlowski/File Photo (Reuters) – U.S. regulators have sought explanation from Deutsche Bank AG about its “bad bank” proposal and its impact on U.S. operations at the loss-making German lender, the Financial Times reported on Monday. Officials at Read More

French fiscal administration launches probe over Ghosn’s wealth: Liberation

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FILE PHOTO: Former Nissan Motor Chairman Carlos Ghosn, accompanied by his wife, Carole Ghosn, arrives at his place of residence in Tokyo, Japan, March 8, 2019. REUTERS/Issei Kato/File Photo PARIS (Reuters) – The French fiscal administration has launched an in-depth probe into the wealth of former Renault-Nissan Chairman Carlos Ghosn, French daily Liberation reported on Read More

Daimler warns on 2019 profit outlook as diesel (gasoil) issues bite

24 hours ago DieselGasoil Comments Off on Daimler warns on 2019 profit outlook as diesel (gasoil) issues bite
FRANKFURT (Reuters) – Daimler cut its 2019 earnings outlook on Sunday after lifting provisions for issues related to its diesel (gasoil) vehicles by hundreds of millions of euros. The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke Group earnings before interest and tax this year Read More

Daimler cuts 2019 profit outlook on diesel (gasoil) issues

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FRANKFURT (Reuters) – Daimler cut its 2019 earnings outlook on Sunday after lifting provisions for issues related to its diesel (gasoil) vehicles to hundreds of millions of euros. The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. REUTERS/Hannibal Hanschke Group earnings before interest and tax this year Read More

Germany’s Metro says $6.6 billion bid undervalues company

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FRANKFURT (Reuters) – Metro said that an unsolicited offer by two prominent investors to take over the German retailer substantially undervalues it and advised shareholders on Sunday to hold off on taking action until management comments further. FILE PHOTO: German retailer Metro AG sign is seen on the steps of their headquarters in Duesseldorf, Germany Read More