The French bank Societe Generale hopes to reach settlements with authorities over recent regulatory investigations in the next weeks or months, its chief financial officer told CNBC Tuesday. “On two cases around Libor and LIA (the Libyan Investment Authority) we are expecting a settlement within weeks and months,” Philippe Heim, the CFO at the bank […]
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Irish deputy leader reportedly agrees to resign, potentially halting snap elections
Irish Deputy Prime Minister Frances Fitzgerald is expected to announce her resignation this afternoon, according to local media reporting unnamed government sources. The resignation would come amid intense pressure for Fitzgerald to step down from within and outside of her own Finn Gael party, which leads Ireland’s minority government and is headed by Prime Minister […]
Read moreU.K. online grocer Ocado and French supermarket giant Groupe Casino have signed an agreement to develop the Ocado Smart Platform (OSP) in France. Ocado describes the OSP as a “proprietary solution for operating online retail businesses.” In an announcement Tuesday morning, the companies said that the scalable and modular end-to-end solution provided by the OSP […]
Read moreMore companies will leave Britain as Brexit negotiations drag on between the U.K. and the European Union (EU), the secretary-general of the Organization for Economic Co-operation and Development (OECD) said. Angel Gurria said Monday that until a deal can be agreed, the British economy will face ongoing headwinds and, as a result, chief executives will […]
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Venezuela is the 'story to watch' for oil markets in 2018, RBC's Helima Croft says
Embattled Venezuela with its current political and economic turmoil should be front and center for oil traders as we head into 2018, according to industry experts and political analysts. “The market is rebalancing, but there are still a number of producers that are poised for real challenges. I think Venezuela is the story we all […]
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ECB's vice president position will likely go to Spain – Spain econ min
The European Central Bank‘s vice-president position, currently held by Vitor Constancio who has until May 1 to stand down, will probably go to a Spanish candidate, Economy Minister Luis de Guindos said in comments published on Tuesday. Spain has not held a position on the ECB’s executive board since 2012 after the exit of Jose […]
Read moreSociete Generale said on Monday it plans to close more branches and cut staff in its French retail banking network while selling assets, as part of a three-year plan to boost returns. Chief Executive Frederic Oudea, who took the top job following a rogue trader scandal in 2008, is under pressure to boost profitability in […]
Read moreEuropean bourses are seen opening mixed on Tuesday morning as investors watch out for tax reform plans in the U.S. and comments from the next Federal Reserve chair. The FTSE 100 is seen lower by 1.5 points at 7,383; the DAX in expected to open up by 18 points at 13,012 and the CAC 40 […]
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‘This is a massive challenge’: UK and Ireland at loggerheads over post-Brexit and trade
Ireland will veto Brexit trade talks with the U.K. until complex issues surrounding its border with Northern Ireland are resolved, the country’s EU commissioner said Sunday. Phil Hogan said Ireland could veto the talks between the U.K. and the European Union (EU) if it is not given assurances that there will be no “hard border” […]
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Prince Harry and U.S. actress Meghan Markle have announced that they are to be married. The wedding will happen in spring next year after the couple got engaged earlier this month. CNBC takes a look back at royal weddings through the years and how they have transformed into global events. Source: cnbc In pictures: A […]
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