ECB lays ground for fresh stimulus package
The European Central Bank (ECB) on Thursday sent a strong signal that its monetary support for the euro area economy will be increased after the…
July 2019
Bayer sells Dr. Scholl’s for $585m to Yellow Wood
Germany’s Bayer said on Monday it agreed to sell its Dr. Scholl’s footcare brand to Boston-based private investment firm Yellow Wood Partners for $585 million….
EU OKs Italy’s €172m for distributing newspapers
The European Commission said on Monday it approved under EU State aid rules a €171.74 million public service compensation granted by Italy to Poste Italiane…
Belgium’s AB InBev sells $11bn Australia unit to Asahi
Belgium-based Anheuser-Busch InBev, the world’s largest brewer, said it is selling its Australian business Carlton & United Breweries (CUB) to Japan’s Asahi for about $11…
LVMH, Stella McCartney in ethical fashion partnership
French luxury goods conglomerate LVMH said on Monday it reached an agreement with British designer Stella McCartney to further develop her brand, months after she…
Gilead increases Galapagos stake in $5.1 billion deal
US drugmaker Gilead Sciences has agreed to invest $5.1 billion to raise its stake in Galapagos NV and partner with the Belgian-Dutch biotech firm to…
Colgate buys €1.5bn skin care unit of France’s Filorga
Colgate-Palmolive Company said on Friday it agreed to acquire the Laboratoires Filorga Cosmétiques skin care business for about €1.49 billion. Colgate-Palmolive said the acquisition is part…
Norwegian Air CEO Bjørn Kjos to step down
Norwegian Air co-founder and CEO Bjørn Kjos, 72, is to leave the CEO position and continue in a new role as an advisor to the…
IMF warns of euro zone anemic growth, urges stimulus
The International Monetary Fund said in a report on Thursday that the euro zone economy is facing rising risks from trade tensions, Brexit and Italy…
Aberdeen Standard property fund in Sweden move
Edinburgh-based investment giant Aberdeen Standard Investments has expanded its Pan European Residential Property Fund (ASPER) SICAV-RAIF with the purchase of a newly constructed residential portfolio…
Swiss Re suspends ReAssure IPO amid weak UK demand
UPDATE 3 — Swiss Re announced on Thursday the suspension of its plans for a $4.1 billion initial public offering (IPO) of UK life insurance…
Julius Baer appoints Rickenbacher as CEO
Swiss bank Julius Baer said it appointed Philipp Rickenbacher as its new CEO, effective September 1, 2019. Rickenbacher is currently Head of Intermediaries & Global…
Mainz spinout biotech firm BioNTech raises $325m
German biotech firm BioNTech SE has completed a $325 million Series B financing round, making it one of the largest single private funding rounds for…
EU cuts 2020 growth forecast as outlook is ‘clouded’
The European Commission (EC) on Wednesday cut its euro area GDP growth and inflation forecast for next year as it warned the near-term outlook for the…
Zurich Insurance names UK’s Martin as European CEO
Zurich Insurance Group has appointed its chief risk officer Alison Martin to the role of Chief Executive Officer Europe, Middle East & Africa (EMEA) and…
Germany ‘to be short of up to 6m workers by 2040’
The German labour market will be short of up to six million people in 2040 compared to 2018, according to research by Deutsche Bank. “Even…
Deutsche Bank announces new leadership team
Deutsche Bank said on Sunday it has changed its leadership structure as part of its “radical transformation” that will involve scrapping its global equities business…
Deutsche Bank scraps equities, cuts 18,000 jobs
Deutsche Bank said on Sunday it will scrap its global equities business and scale back its investment bank, a move that will cut about 18,000…
EU bosses nominate leaders for main institutions
European leaders have agreed on who should fill the top jobs for its main institutions after a marathon summit. France’s Christine Lagarde has been proposed…