Month: April 2022
Investor sells big stakes in Deutsche Bank, Commerzbank: Bookrunner
The headquarters of German banks Deutsche Bank (L) and Commerzbank in Frankfurt, Germany. FRANK RUMPENHORST | DPA | Getty Images An undisclosed investor is selling shares in Deutsche Bank and Commerzbank, a bookrunner said on Monday, stakes that amount to more than 5% in Germany’s top two lenders. The sale is for 116 million shares […]
Read More
In the U.S., consumers are paying more for everything. In China, the inflation problem is very different
Transportation fuel prices rose by 24.1% in China in March 2022 from a year ago, the largest increase within the country’s consumer price index. Vcg | Visual China Group | Getty Images BEIJING — Persistent inflation in China narrows the window for when the People’s Bank of China can cut interest rates and support growth, […]
Read More
New omicron XE Covid variant first detected in the UK spreads to Japan as cases rise
As of April 5 2022, 1,125 cases of XE — a new scombinant subvariant — have been identified in the U.K., up from 637 on March 25. Dominic Lipinski | Pa Images | Getty Images Japan has reported its first case of omicron XE — a new Covid-19 strain first detected in the U.K. — […]
Read More
Microsoft bought and shut down this entrepreneur’s app. But now he’s raised money for an unofficial successor
Wunderlist co-founder Christian Reber Pitch German entrepreneur Christian Reber sold his to-do list app Wunderlist to Microsoft in 2015 for a sum that was reported to be between $100 million and $200 million only to watch the U.S. tech giant shut it down four years later. Now he’s just raised funding for a follow-on app […]
Read More
Russia’s war in Ukraine means there’ll be no return to normality for Europe’s economy
German Chancellor Olaf Scholz, French President Emmanuel Macron and Polish President Andrzej Duda attend a news conference ahead of a Weimar Triangle meeting to discuss the ongoing Ukraine crisis, in Berlin, Germany, February 8, 2022. Hannibal Hanschke | Reuters The war in Ukraine and the ensuing economic sanctions imposed on Russia will cause far bigger […]
Read More
Giant undersea cables set to give the UK and Germany their first direct energy link
Onshore wind turbines in Germany. The NeuConnect project says the interconnector will enable Britain to “tap into the vast energy infrastructure in Germany, including its significant renewable energy sources.” By Thomas E. Gunnarsson | Moment Open | Getty Images Key contracts totaling more than £1.5 billion ($1.95 billion) have been awarded for a major interconnector […]
Read More
U.S. fintech Plaid taps Booking.com veteran to lead its European expansion
Ripsy Bandourian, head of Europe at Plaid. Plaid LONDON — Financial technology firm Plaid has hired Ripsy Bandourian, a long-time Booking.com executive, to head up its European operations. Bandourian joined Plaid last week and is working out of its Dutch offices in Amsterdam. She’ll be tasked with leading the San Francisco-based start-up’s expansion in continental […]
Read More
Top strategist says to own stocks in these sectors to beat any recession
David Roche, president of Independent Strategy, warned the economy is entering a “war-cession,” and said markets are underestimating it. Source
Read More
India’s northwest reels under unusual early heat wave
Commuters out in the scorching heat in India on March 30, 2022 in Gurugram, India. An unusually early heat wave brought more extreme temperatures Monday to a large swath of India’s northwest. Parveen Kumar | Hindustan Times | Getty Images An unusually early heat wave brought more extreme temperatures Monday to a large swath of […]
Read More
Japan’s wholesale inflation stays near record on Ukraine war and a weak yen
A customer picks up a snack at a supermarket store in Tokyo, Japan, on Tuesday, July 27, 2021. Japan’s wholesale inflation remained near record-high levels in March as the Ukraine crisis and a weak yen pushed up fuel and raw material costs, data showed on Tuesday Noriko Hayashi | Bloomberg | Getty Images Japan’s wholesale […]
Read More