- REUTERS/Ralph Orlowski
1. John Cryan, chief executive of Deutsche Bank told staff he was “absolutely committed” to the lender.“Once again we are the subject of widespread rumours,” Cryan said in the memo, posted on the bank’s website. “I just wanted to reaffirm that I am absolutely committed to serving our bank and to continuing down the path on which we started some three years ago.”
2. Tesla shares fell more than 9% on Wednesday. That followed a downgrade by Moody’s, a probe by the National Transportation Safety Board of a recent fatal crash and concerns about Model 3 production.
3. US exchange operator CME Group is in advanced talks to acquire Britain’s NEX Group for about £4 billion, Bloomberg reported. NEX Group had said earlier this month that it had received a preliminary takeover approach from CME Group.
4. Reckitt Benckiser’s chief executive Rakesh Kapoor got an 18% pay cut in 2017, his second in two years. Kapoor received total compensation of £12.5 million pounds in 2017, down from £15.3 million in 2016.
5. Portugal’s Novo Banco reported a record net loss of €1.4 billion for 2017. The bank applied for a fresh capital injection from the country’s bank resolution fund.
6. Europe’s antitrust chief Margrethe Vestager is looking to three academics to help her deal with anti-competitive practices in fast-moving technology markets. Regulators on both sides of the Atlantic worry about the power of a few giant technology companies over businesses and users.
7. Catalan academic Clara Ponsati, accused by Spain of rebellion for her role in Catalonia’s independence campaign, was granted bail by a Scottish court on Wednesday.Ponsati is one of the Catalan leaders being sought by the Spanish courts for organizing a referendum on independence in October last year that was deemed illegal under Spanish law.
8. Canadian mining magnate Peter Munk, who built Barrick Gold from a single mine into the world’s largest producer of gold, has died at the age of 90. The blunt-spoken miner became renowned for his philanthropy, donating millions to healthcare.
9. A federal judge on Wednesday overturned a US jury’s verdict that required Teva to pay GlaxoSmithKline Plc more than $235 million for infringing a patent covering its blood pressure drug Coreg. The judge ruled that the evidence did not support the jury’s finding in June that Teva sales of a generic version of the drug caused doctors to infringe GSK’s patent.
10. Cadillac and Lincoln both unveiled SUV models this week at the New York auto show to meet rising American demand. But they’re also are keeping one eye on a growing Chinese appetite for the same vehicles, executives said.