Category Archives: CNN – Business

Deutsche Bank starts merger talks with Commerzbank

Deutsche Bank starts merger talks with Commerzbank

Germany’s two biggest banks are discussing a merger that could result in a national powerhouse capable of competing with Wall Street. Deutsche Bank, Germany’s largest lender by far, confirmed Sunday that it was holding merger talks with Commerzbank. The German government holds a 15% stake in Commerzbank. “In light of arising opportunities, the management board…MORE

Ford chief took home nearly $18 million in ‘challenging’ year

Ford chief took home nearly $18 million in ‘challenging’ year

Ford CEO Jim Hackett, who began overhauling the carmaker’s business plans last year, took home a 2018 compensation package worth nearly $18 million. His total annual payout included a $1.8 million base salary and $12.7 million in stock awards, along with about $3.2 million in other compensation, according to public filings posted Friday. Hackett said…MORE

Toyota chief warns that new tariffs could threaten US investment

Toyota chief warns that new tariffs could threaten US investment

The head of Toyota North America warned Friday that the tariffs President Donald Trump has threatened to impose on foreign vehicles would make it hard for the company to follow through on an additional $750 million investment in US plants that it announced this week. “I think it makes it difficult … because it’s going…MORE

Airplane groundings are rare. Here are some of history’s biggest

Airplane groundings are rare. Here are some of history’s biggest

This past week reminded the world that grounding an entire type of airliner because of safety concerns is a big deal — and it happens very rarely. In this case, two deadly crashes of Boeing 737 Max 8s within five months raised enough concern by aviation regulators worldwide to ground the plane until investigators can…MORE

Abu Dhabi’s wealth fund shuns Goldman Sachs over Malaysia corruption scandal

Abu Dhabi’s wealth fund shuns Goldman Sachs over Malaysia corruption scandal

One of the world’s biggest investors is breaking up with Goldman Sachs. Abu Dhabi sovereign wealth fund Mubadala Investment Company has announced that it won’t do any new business with Goldman, which is mired in controversy over its ties to a multibillion-dollar corruption scandal in Malaysia. Mubadala said in November that it was suing Goldman…MORE

The SEC is accusing Volkswagen and its former CEO of ‘massive fraud’

The SEC is accusing Volkswagen and its former CEO of ‘massive fraud’

The US Securities and Exchange Commission is suing Volkswagen, accusing the German carmaker of carrying out “a massive fraud” by cheating on emissions tests. The American market regulator said late Thursday that Volkswagen and former CEO Martin Winterkorn fraudulently raised billions of dollars from investors, including by overplaying the firm’s environmental credentials. The German company…MORE

Volkswagen CEO apologizes after appearing to reference Nazi slogan

Volkswagen CEO apologizes after appearing to reference Nazi slogan

The chief executive of Volkswagen has apologized after appearing to reference a notorious Nazi slogan while talking about the company’s profits. Speaking at a Volkswagen management event in Germany on Tuesday, Herbert Diess used the expression “Ebit macht frei.” The phrase sounds similar to “Arbeit macht frei,” a phrase inscribed the gates of Auschwitz and…MORE

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