German business morale shrugs off Brexit to hit 28-month high
BERLIN German business morale rose far more than expected in September, reaching its highest level in more than two years, a survey showed on Monday, signaling that executives had brushed off concerns about Brexit that had weighed on their mood last month.The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of 7,000 firms, rose to 109.5 from an upwardly revised 106.3 in August, the biggest monthly increase since July 2010. "Companies are clearly m..>> view originalWells Fargo CEO gets $123.6M if he walks
John Stumpf, chairman and CEO of the Wells Fargo & Company, testifies before the Senate Banking, Housing and Urban Affairs Committee September 20, 2016 in Washington, DC.(Photo: Win McNamee, Getty Images)Wells Fargo (WFC) CEO John Stumpf stands to walk from the bank with $123.6 million in severance and stock value if he retires from the bank, which is still reeling from a scandal where millions of accounts were inappropriately opened for customers.Stumpf's $123.6 million in potential retirement ..>> view originalUK CEOs Consider Pulling Up Stakes Because of Brexit
LONDON — A survey of company CEOs in Britain suggests that a majority is considering moving some business away from the U.K. amid concerns about the country's future outside the European Union.Research by KPMG shows that three fourths of the 100 executives questioned would consider moving their headquarters or some operations outside Britain in order to keep a link to the EU's common, tariff-less market.The British government is likely to take months to trigger the official negotiations to lea..>> view originalSpain: Protesters jeer ex-IMF boss as bank card trial starts
People protest outside the National Court as they wait for the arrival of former Finance Minister and International Monetary Fund chief Rodrigo Rato in Madrid, Monday, Sept. 26, 2016. Rodrigo Rato, and 65 officials at Bankia SA and its founding savings bank Caja Madrid, face trial for alleged misuse of corporate credit cards issued by Spain’s Bankia group and its predecessor savings bank, Caja Madrid between 2003 and 2012. (Daniel Ochoa de Olza/Associated Press) By Associated Press Septemb..>> view originalSingapore-based music startup buys 49% stake in Rolling Stone
The company behind iconic music magazine Rolling Stone has sold a 49 percent share in the business to a startup from Singapore in a bid to grow its international reach. U.S.-based Wenner Media announced the sale of its stake to Singapore’s BandLab this weekend, although the price paid was not disclosed. BandLab is run by Meng Ru Kuok, the 28-year-old son of palm oil billionaire Kuok Khoon Hong, and this isn’t its first piece of notable M&A. The company acquired Swee Lee, a distributor of guita..>> view originalGermany Sees 'No Grounds' for Speculation Over Deutsche Bank Aid
Chancellor Angela Merkel’s government sees “no grounds” for speculation over state funding for Deutsche Bank AG, her chief spokesman said, pushing back against a magazine report that the German leader has ruled out any such aid.“There are no grounds for such speculation,’’ German government spokesman Steffen Seibert told reporters in Berlin on Monday when asked about the report. “The government won’t participate in any such speculation.’’Merkel had ruled out any state financing for the Frankfur..>> view originalAsia markets trade lower ahead of US presidential debate, OPEC meeting
In the currency market, the dollar index, which measures the greenback against a basket of currencies, traded at 95.478 as of 2:22 p.m. HK/SIN. This was compared to levels above 96.00 briefly touched in the previous week before the U.S. Federal Reserve opted to keep its monetary policy unchanged. The Australian dollar traded at $0.7616, retreating from levels near $0.7680 in the previous week. Elsewhere, the Philippine peso weakened against the dollar to levels not seen since 2009, tra..>> view originalTurkish Lira, Markets Slump After Moody's Cuts Rating to Junk Status
ISTANBUL—The Turkish lira fell to a seven-week low against the dollar and stocks tumbled Monday after Moody’s Investors Service on Friday downgraded Turkey’s credit rating to junk status following a review that began after the failed coup attempt in July. The lira weakened about 1% on Monday to trade as low as 2.9990 a dollar before rebounding slightly, and Turkey’s main BIST-100 stock index was down nearly 4%. Meanwhile, the yield...>> view originalThe Retiree With Six Incomes
LANXESS to Acquire Chemtura (CHMT) in ~$2.5B Deal
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here. Chemtura Corporation (NYSE: CHMT) announced that it has entered into a definitive agreement pursuant to which LANXESS AG (“LANXESS”), a global specialty ...>> view original
Tuesday, October 11, 2016
German business morale shrugs off Brexit to hit 28-month high and other top stories.
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