Banks lead Australia shares higher, NZ at record

By Devika Syamnath Undated, June 15 : Australian shares rose on Friday, led by banks and mining companies, as a cautious European Central bank policy decision pushed the U.S. dollar higher against other currencies. The ECB signalled on Thursday it would retain interest rates at record lows well into next year, longer than some market […]

HSBC to invest $15-17 bln by 2020 as strategy pivots to growth

By Lawrence White LONDON, June 11 : HSBC will invest $15-17 billion in the next three years in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday. The announcement is Flint’s first public […]

Deutsche Bank cuts eight equities research positions in Dubai – sources

By Saeed Azhar and Tom Arnold DUBAI, May 29 : Deutsche Bank has cut eight positions within its equities research team in Dubai as it moves to close the unit as part of a global scaling back of equities business, sources familiar with the matter said. The research analysts covered dozens of companies from Central […]

Customers angry after National Australia Bank hit by technology outage

By Will Ziebell MELBOURNE, May 26 : National Australia Bank on Saturday suffered what it described as a “nationwide outage” to some of its technology systems, leaving customers unable to access banking services or withdraw money. Customers took to social media to vent their frustrations, with some saying they were left unable to pay for […]

EU nears deal on banking capital rules, risk of delay over Italy

By Francesco Guarascio BRUSSELS, May 24 : European Union finance ministers are likely to agree on Friday to new banking capital rules in a major step toward enhancing EU financial stability, but the deal could be delayed because Italy’s political crisis, EU officials said. The potential delay could be seen as a first sign of […]

Deutsche Bank axes at least 7,000 jobs in trading retreat

By Tom Sims FRANKFURT, May 24 : Deutsche Bank is slashing more than 7,000 jobs to cut costs and restore profitability, while keeping its international reach as its new CEO seeks to reassure investors and clients. Germany’s biggest bank said global headcount would fall to well below 90,000 from 97,000, with a 25 percent cut […]