Business

Deutsche Bank hires Citi dealmaker to beef up U.S. healthcare investment banking – memo

Deutsche Bank AG (DBKGn.DE) has hired Jorge Barreiro from Citigroup Inc (C.N) as the managing director for its U.S. healthcare investment banking team. As part of his new role, Barreiro will focus on the bank’s coverage of digital and healthcare-focused technology companies, according to the memo sent by Nick Richitt, the global co-head of Healthcare […]

Business

Generali’s appointments committee backs keeping Donnet as CEO

Generali’s (GASI.MI) appointments committee recommended that the board finalise a slate of nominees for its renewal keeping Philippe Donnet as CEO for another term, three sources close to the situation said. Generali’s board meets on Monday to discuss whether to submit its own slate of nominees, including Donnet, ahead of a general meeting next spring […]

Business

India antitrust body fines United Breweries, Carlsberg in price fixing case

India’s antitrust watchdog on Friday imposed a penalty of $102 million on Heineken-controlled beer giant United Breweries (UBBW.NS) and $16 million on the local unit of Denmark’s Carlsberg (CARLb.CO) in a case related to cartelisation of beer prices in the country. The order comes after a long-drawn investigation that in 2018 saw Competition Commission of […]

Business

HSBC, StanChart may face secondary shockwaves from Evergrande crisis -analysts

HSBC and Standard Chartered could face spillover damage to their profits and balance sheets from the debt crisis enveloping China Evergrande Group (3333.HK) even though the two banks say they have limited their direct exposure, analysts have warned. Other banks and insurers could also suffer indirect effects such as loss of fees or a devaluation […]

Business

Tesla’s German landing will fuel competition – Volkswagen CEO

The planned opening of Tesla’s (TSLA.O) first gigafactory in Europe later this year will force local industry to step up its game, Volkswagen (VOWG_p.DE) Chief Executive Herbert Diess said on Friday. Diess’ comments, made on Twitter, come as Tesla continues work on its plant in Gruenheide, near Berlin, as it awaits final building approval for […]

Business

Trudeau’s return to power with big spending plans could fuel Canada’s hot inflation

Prime Minister Justin Trudeau risks further fueling Canada’s hot inflation if he presses ahead with spending plans outlined during the election campaign, which could pressure the Bank of Canada to hike interest rates sooner than planned. Trudeau’s Liberals have pledged C$78 billion ($61.6 billion) in new spending over five years, about 4% of gross domestic […]

Business

Ford India head quits after company says to stop making cars in India

Ford Motor Co’s (F.N) India head Anurag Mehrotra has quit the company to pursue other career opportunities, days after the U.S. automaker said it would stop making cars in the Asian nation, taking a hit of $2 billion. Mehrotra, according to his LinkedIn profile, has spent over a decade with Ford in India across multiple […]