The President of the Federal Reserve Bank of Minneapolis has warned that the US central bank should be wary of dismissing a widely watched signal that a recession is around the corner, and that it may soon be time to stop raising interest rates.
Bank of America’s chief executive has extolled its pool of consumer current accounts as a cheap source of funds for the group, saying interest rates on billions of dollars worth of deposits were increasing “very slowly”.
Goldman Sachs’ veteran chief executive Lloyd Blankfein is stepping down and will be replaced by David Solomon, the investment banker who has been CEO-in-waiting since his promotion to president in March.
Ulrich Lehner, chairman of ThyssenKrupp, has resigned just two weeks after chief executive Heinrich Hiesinger also stepped down amid criticism of a seven-year restructuring that resulted in the German conglomerate spinning off its steelmaking business to merge it with Tata Steel Europe.
Cerberus Capital Management is expected to decide as early as this week whether to go ahead with a proposed investment in private equity group Abraaj’s funds platform, a person familiar with the matter said.
US stocks struggled for direction on Monday, with the major indices oscillating between very slight gains and losses as the slump in oil prices eclipsed solid retail sales data and Bank of America’s earnings.
Pakistan’s currency took another tumble on Monday as Nawaz Sharif, the country’s jailed former prime minister, launched a legal appeal against his conviction for corruption, adding to political uncertainty ahead of next week’s election.
Donald Trump and Vladimir Putin’s private one-on-one meeting in Helsinki lasted two hours, Russian television reported, 30 minutes longer than scheduled, delaying a planned lunch with advisers and members of the two president’s delegations.
Sibanye-Stillwater, the South African gold and platinum miner, has raised $500m through a streaming deal with Wheaton Precious Metals in an effort to reduce its debt following a string of acquisitions.