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United Airlines shakes up Avianca leadership after shareholder default

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FILE PHOTO: A United Airlines plane with the Continental Airlines logo on its tail, taxis to the runway at O’Hare International airport in Chicago October 1, 2010. UAL Corp and Continental Airlines Inc. closed their merger on Friday to form the world’s largest carrier, called United Airlines. REUTERS/Frank Polich (Reuters) – United Airlines said on Read More

Deutsche Bank CEO pledges tough investment bank cuts as shares hit low

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FRANKFURT (Reuters) – Deutsche Bank’s chief executive promised shareholders “tough cutbacks” at its underperforming investment bank on Thursday as he battled to convince them he can turn around Germany’s biggest lender, whose shares hit a record low. Ranked as one of the most important banks in the global financial system, the bank has been plagued Read More

Nissan board nominees not broaching merger issue: member

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YOKOHAMA (Reuters) – Nissan Motor Co is not considering the possibility of a merger with top shareholder Renault at the moment, and none of the nominees to the Japanese automaker’s board are pressing to make it an issue now, an external director said on Thursday. FILE PHOTO: A Nissan logo is pictured during the media Read More

China calls out U.S. ‘wrong actions’ as Huawei ban rattles supply chains

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BEIJING (Reuters) – Beijing said Washington needs to correct its “wrong actions” for trade talks to continue after the U.S. blacklisted Huawei, a blow that has rippled through global supply chains and battered tech shares as investors feared a looming technology cold war. FILE PHOTO: A man takes a picture of a Huawei logo at Read More

Deutsche Bank CEO readies investment bank cuts as stock hits low

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FRANKFURT (Reuters) – Deutsche Bank’s chief executive is prepared to make “tough cutbacks” in its investment banking business, whose future is in doubt after several failed restructurings, in order to be profitable and competitive. CEO Christian Sewing delivers a speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, Read More

U.S. Justice Department staff recommends blocking T-Mobile-Sprint deal, sources say

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A T-Mobile store is pictured in the Manhattan borough of New York, New York, U.S., May 20, 2019. REUTERS/Carlo Allegri WASHINGTON (Reuters) – The U.S. Justice Department’s antitrust division staff has recommended the agency file a lawsuit to block T-Mobile US Inc’s $26 billion acquisition of smaller rival Sprint Corp, according to two sources familiar Read More

British Steel goes into liquidation after failing to secure loan

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LONDON (Reuters) – British Steel, the country’s second largest steel producer, has collapsed after failing to secure emergency government funding, jeopardising some 25,000 jobs, Britain’s Official Receiver said on Wednesday. FILE PHOTO: A general view shows the British Steel works in Scunthorpe, Britain, May 21, 2019. REUTERS/Scott Heppell The High Court ordered the compulsory liquidation Read More

Telecom Italia chief favors network control in any Open Fiber tie-up

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MILAN (Reuters) – Telecom Italia (TIM) should seek a way to keep control of its fixed-line network if it is merged with smaller infrastructure provider Open Fiber, the former phone monopoly’s chief executive said on Tuesday. FILE PHOTO: Optical fibre cables for internet providers are seen running into a Enel Group server room in Perugia, Read More

Fingerprints and finances: next Wells Fargo CEO will be under regulatory microscope

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WASHINGTON (Reuters) – From submitting their fingerprints to giving up their tax records, Wells Fargo & Co’s next chief executive will go through a vetting process that could rival that of top U.S. government officials. A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith     Comptroller of the Read More