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Credit Suisse revamps Swiss unit to lure retail, young clients

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Switzerland’s national flag flies beside a logo of Swiss bank Credit Suisse at its headquarters at the Paradeplatz square in Zurich, July 31, 2019. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Credit Suisse (CSGN.S) will invest hundreds of millions of francs in its Swiss division by the end of 2021, the country’s second-biggest bank said on Monday, Read More

Credit Suisse to shift focus from branches to digital banking

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ZURICH (Reuters) – Credit Suisse (CSGN.S) said on Monday it would invest hundreds of millions of francs in digital services and other parts of its Swiss division by the end of 2021 and said it no longer needed a bigger branch network in its home market than its rivals. Switzerland’s national flag flies beside a Read More

Japan denies it gave away too much in trade talks with U.S.

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TOKYO (Reuters) – Japan’s top government spokesman denied on Monday that Tokyo made too many concessions in trade talks with the United States, saying the fact the two countries were able to reach a broad agreement was “very valuable.” The United States and Japan agreed in principle on Sunday to core elements of a trade Read More

U.S. president says China wants to negotiate over trade war

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U.S. President Donald Trump speaks as he meets Egypt’s President Abdel-Fattah el-Sisi (not pictured) for bilateral talks during the G7 summit in Biarritz, France, August 26, 2019. REUTERS/Carlos Barria BIARRITZ, France (Reuters) – President Donald Trump said on Monday China had contacted U.S. trade officials overnight to say they wanted to return to the negotiating Read More

GLOBAL MARKETS-Shares skid as trade war deepens, fuels bond rush

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SYDNEY (Reuters) – Asian shares sank on Monday as the latest salvos in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbor of sovereign bonds and gold, while slugging emerging market currencies. People walk past an electronic board showing Japan’s Nikkei average outside a brokerage in Read More

PRESS DIGEST – Wall Street Journal – Aug. 26

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Aug 26 (Reuters) – The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. – UBS Group AG and Deutsche Bank AG held talks about combining their businesses earlier this year, including discussions in mid-June about an investment banking alliance, according Read More

CORRECTED-Galapagos Files Application To Initiate Insolvency Proceedings

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(Corrects throughout to show the alerts were from Galapagos SA, not from Galapagos NV) Aug 25 (Reuters) – Galapagos SA: * GALAPAGOS-FILED APPLICATION TO INITIATE INSOLVENCY PROCEEDINGS WITH COMPETENT LOCAL COURT OF DÜSSELDORF DUE TO PENDING ILLIQUIDITY & OVER-INDEBTEDNESS * GALAPAGOS-BY WAY OF ORDER OF 23 AUGUST 2019 LOCAL COURT OF DÜSSELDORF APPOINTED FRANK KEBEKUS Read More

Chinese AI start-up Megvii files for Hong Kong IPO of at least $500 million

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HONG KONG (Reuters) – Chinese AI firm Megvii Technology Ltd, backed by Alibaba, has filed in Hong Kong to conduct an IPO targeting proceeds of at least $500 million, two people said, just as the city faces political unrest and its first recession in a decade. Beijing-based Megvii, widely known for facial recognition platform Face++, Read More

Oil drops as recession risks mount with trade war tariffs

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TOKYO (Reuters) – Oil prices fell on Monday, pushing U.S. crude to the lowest in more than two weeks, as an intensifying trade war between the U.S. and China undermined confidence in global economic growth. Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. REUTERS/Stringer Brent crude Read More

Shares skid as trade war deepens, fuels bond rush

3 hours ago NAMEX Comments Off on Shares skid as trade war deepens, fuels bond rush
SYDNEY (Reuters) – Asian shares sank on Monday as the latest salvos in the Sino-U.S. trade war shook confidence in the world economy and sent investors steaming to the safe harbor of sovereign bonds and gold, while slugging emerging market currencies. People walk past an electronic board showing Japan’s Nikkei average outside a brokerage in Read More