Finance

Deutsche Bank axes teams in Asia-Pacific as 18,000 global job cuts begin

The German lender announces the job losses as part of a restructuring plan that will ultimately cost $8.31 billion (7.4 billion euros) and see it undo years of work aimed at making its investment bank a major force on Wall Street.

Greek PM Tsipras eyes shaky comeback in Sunday vote

Opinion polls show that incumbent Greek PM Alexis Tsipras is behind the conservative New Democracy opposition party. He wars if his party loses, Greece will return to the "dark days" of austerity.

Is 'debt trap diplomacy’ China's neocolonialist tool in Africa?

As a leading investor in the African continent, Beijing aims to reap more and more benefits from the mineral-rich continent but the fast changing reality on the ground may throw up major hurdles.

Facebook to launch 'Libra' cryptocurrency

Social media giant hopes to offer unbanked consumers access to financial services for the first time but consumer privacy concerns or regulatory barriers may present significant hurdles.

Ankara slams Moody's downgrade move

Turkey's Treasury and Finance Ministry said, "we sadly see that very positive developments are being ignored," in response to Moody's move to downgrade Turkey's rating.

South Africa slashes cabinet size, appoints 50% women

South African President Cyril Ramaphosa cut cabinet ministers from 36 to 28 to tackle "bloated" government and improve efficiency while appointing more women in cabinet to achieve gender diversity.

Thousands protest again against ruling elite in Algeria

After weeks-long demonstrations forced president Bouteflika out of office on April 2, protesters have continued mass demonstrations every Friday, demanding other members of the country's elite also give way.

Uber sets terms for IPO, posts $1B first quarter loss

Uber Technologies Inc. will sell 180 million shares in its public offering, with a further 27 million sold by existing investors.

As Notre Dame money rolls in, some eyebrows raised over rush of funds

People on social media, both in France and abroad, have expressed frustration that other disasters - from the Syrian and Iraq refugee crisis to the Grenfell Tower fire in London - have not received anything like the same degree of support.

US House panels issue subpoenas to financial institutions in Trump probe

House Intelligence Committee Chairman Adam Schiff says in a statement the subpoenas issued included a “friendly subpoena to Deutsche Bank.”

UK parliament likely to consider new Brexit referendum - Hammond

The idea of a second referendum would once again be put to parliament at some point, Finance Minister Phillip Hammond says despite the government's opposition to any new public vote.

Turkey to focus on structural reforms - finance minister

Berat Albayrak says the transformation and reform process will decisively continue in the next four-and-a-half year period during which Turkey is not scheduled for major elections.