A Deutsche Bank branch in the financial district of Frankfurt, Germany, on May 6, 2022. Alex Kraus | Bloomberg | Getty Images A lawyer representing plaintiffs in a long-running case against Deutsche Bank on Friday slammed a proposed settlement from the German lender as a “late low ball” offer. The crux of the challenge against … Read more
Airplanes from United and JetBlue and Delta populate the taxiway at Laguardia Airport in the Queens borough of New York City. Bruce Bennett | Getty Images U.S. airlines are reducing their capacity through the end of the year in a bid to cool an oversupplied domestic market that has led to lower fares and reduced … Read more
Wells Fargo is breaking out of its lending roots. The bank has quietly gone on a hiring spree to grab a bigger slice of the profitable investment banking business long dominated by its Wall Street rivals. Since the start of 2023, a CNBC analysis found that Wells Fargo made at least 17 senior-level hires in … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., March 20, 2024. Elizabeth Frantz | Reuters Central banks around the world reached a pivotal point this week, with Switzerland becoming the first major economy to cut interest … Read more
Shoppers are seen at Whole Foods Market on October 14, 2022, in Atlanta, Georgia. Elijah Nouvelage | Afp | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you … Read more
Jerome Powell, chairman of the US Federal Reserve, during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, DC, US, on Thursday, March 7, 2024. Al Drago | Bloomberg | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on … Read more
A trader works, as a screen displays a news conference by Federal Reserve Board Chair Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange on Dec. 13, 2023. Brendan Mcdermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings … Read more
Arc of Triomphe Paris, Champs-Elysees France at night vichie81 / iStock / Getty Images Plus LONDON — Around a half of European companies missed earnings expectations in the latest reporting season despite already low expectations, analysts told CNBC, who predicted that the region will continue to struggle amid high interest rates. As of Feb. 29 … Read more
A picture shows logos of the main communication brand also named GAFAM (for Google, Apple, Facebook, Amazon and Microsoft)in Mulhouse, on June 2, 2023. Sebastien Bozon | AFP | Getty Images The so-called “Magnificent 7” now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research. … Read more
The Commerzbank building (second from right) in Frankfurt am Main, western Germany, on Sept. 25, 2023. Kirill Kudryavtsev | Afp | Getty Images Commerzbank on Thursday reported a 55% hike in net profit for 2023, as high interest rates helped the German banking giant report its best results in 15 years. Net profit for the … Read more