Deutsche Bank is on the cusp of abandoning Britain in case of a Brexit | ||
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Deutsche Bank is so serious about potentially abandoning Britain that it has set up a "working group" to mull over whether the lender should move a bulk of its UK divisions to Germany. The bank confirmed its plans in the Financial Times and said that the "working group" was established to determine the advantages of the German lender moving its operations abroad, should the UK decide to leave the European Union after the referendum. It added that it's "early days and no decisions have been made." Deutsche Bank employs 9,000 people in Britain. Britain's ruling Conservative Party will have to deliver a referendum by 2017 over whether Britain will stay part of the EU or not, since it was a linchpin pledge during the campaign. According to reports, Prime Minister David Cameron is said to be already putting plans in motion to bring forward an in/out referendum by a year. Though the Tories are pushing through the promise of a referendum, however, the party is largely against leaving the EU. In January last year, UK Chancellor George Osborne said the Tories were determined to deliver on the promise of a referendum but they would prefer to stay within the EU and negotiate "a better deal." Join the conversation about this story » NOW WATCH: Kids settle the debate and tell us which is better: an Apple or Samsung phone  | ||
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11 Afghan police get one-year jail over mob killing of woman: court | ||
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Kabul (AFP) - An Afghan court on Tuesday sentenced 11 policemen to one year in prison for failing to protect a woman who was lynched by a mob in Kabul after being falsely accused of blasphemy. "You are sentenced... for negligence of duty to one year in prison," Judge Safiullah Mojaddidi told the 11 defendants, which included senior officers, while eight other policemen were found not guilty. Join the conversation about this story »  | ||
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10 things in tech you need to know today (AAPL) | ||
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Good morning! Here's the tech news you need to know today. 1. Carl Icahn published a new open letter to Apple CEO Tim Cook. In it, he says that Apple shares are worth $240. 2. Barack Obama now has his own Twitter account. He's using an iPhone to tweet. 3. Apple is reportedly preparing to release a software update for the Apple Watch next month. It could include "Find My Watch," Apple TV integration and sleep tracking. 4. The CEO of Blackberry says the company's smartphone business will be profitable again. John Chen told us that Blackberry phones are more secure than iPhones. 5. Spotify has denied reports that it's going to shut its free much streaming tier following pressure from record labels. It says that "the model is working." 6. Apple reportedly abandoned its plans to build a television last year. It spent a decade researching it, but felt that the field was too competitive. 7. Uber's valuation jumped $15 billion in one week. Investor Mike Novogratz said that the company's valuation shot up to $40 billion after its fundraising roadshow. 8. Jay Z hit out at Spotify, Apple and Google in a freestyle rap. He used the performance to defend his own streaming service Tidal. 9. A company embroiled in the HP/Autonomy lawsuit is now suing HP for $16.5 million. MicroTech claims that it paid for a product that it never received. 10. Wearable tech company Jawbone reportedly took out a $300 million loan with some harsh terms. In the event of a sale, BlackRock will get paid before the investors who went into earlier rounds. Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about  | ||
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The B&B owner that nearly and accidentally became a oil company owner - just sold part of her stake | ||
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New World Oil and Gas, the Jersey based exploration and development company with projects in Belize and Denmark, just revealed that a British B&B owner, who's son accidentally bought out half the group's shares, sold part of her stake. She now owns just 25.94% of the company, compared with 48.7% previously. On May 14, New World called an emergency meeting with its shareholders after the company's stock rocketed then plunged because a Judith Williams, the owner of Wyche Keep Country House, accidentally became the leading shareholder of the oil and gas group. She was the subject of a Takeover Panel discussion because her son, Christopher, bought 342 million shares in the firm believing that he was snapping up a 10% stake in the group for £1.5 million ($2.4 million). Unfortunately, his share purchase, on behalf of his mother through a broker, ended up being at 48.7% and because she was a significant stakeholder, Britain's Takeover Panel said that she may have to make a mandatory bid for the rest of the company under current law. However, according to the latest regulatory filing, Williams has sold a chunk of her stake, leaving her with now just a 25.94% slice of the company. This means New World can now avoid launching a rights issue and Williams won't be forced to buy out the rest of the company. Join the conversation about this story » NOW WATCH: 'Game of Thrones': The Iron Throne is a terrible investment  | ||
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10 things you need to know in markets today | ||
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Here are the major stories in markets right now. Greece's Prime Minister has a vivid metaphor for the country's situation. Greece's prime minister warned Monday that the cash-strapped country is in a state of "financial strangulation" amid worries that Athens may only have a couple of weeks before going bankrupt. Opening up capital markets is a priority for China this year. Chinese policymakers on Monday announced guidelines for reform priorities in 2015, ranging from streamlining administrative procedures to boosting the yuan's global role, as Beijing steps up efforts to open up the country's capital markets. "More focus will be placed on promoting financial reforms to push forward the development of the real economy", the statement said. Deutsche Bank's retail chief is on his way out. Deutsche Bank's restructuring plan claimed its first management casualty when its retail chief Rainer Neske decided to quit after the group chose to split up and sell chunks of his domain, including Postbank , German media reported. The US signed a $1 billion (£638.5 million) loan guarantee for Ukraine. The United States signed Monday its second $1 billion loan guarantee deal for Ukraine aimed at helping the crisis-wracked country surmount a Russia-backed insurgency and rebuild its tattered economy. UK and eurozone inflation is coming. At 9:30 a.m. and 10 a.m. London time respectively (4:30 a.m. and 5 a.m. New York), the UK and eurozone second readings for consumer price inflation in April are out. Analysts expect both figures to stay at the same level as the first readings, 0%. New UK Business Secretary Sajid Javid aims to cut £10 billion ($15.66 billion) in regulation. Javid promises to roll back red tape with his enterprise bill, which will be announced with the Queen's Speech next week, according to the Financial Times. Despite Carl Icahn's predictions, Apple reportedly stopped developing at TV last year. Apple gave up on any plans to make its own television as long ago as last year, according to a Wall Street Journal report. In an open letter to Apple CEO Tim Cook today, Icahn wrote that he expects an Apple car and an Apple television — two rumoured projects which have never been officially confirmed or announced by Apple — to hit the market next year. Founding members of China's Asian Infrastructure Investment Bank (AIIB) will meet. Founding members of the AIIB will hold a three-day meeting in Singapore this week to discuss operational policies for the establishment of the institution. The gathering, called the 5th chief negotiators' meeting, will also discuss the draft articles of agreement for the AIIB in Singapore from Wednesday to Friday. Asian shares are booming. The Shanghai Composite Index is up 2.73%, followed by Japan's Nikkei, up 0.93%. Hong Kong's Hang Seng is currently 0.33% higher. Japan's finance minister says monetary policy alone won't be able to end deflation. Finance Minister Taro Aso said on Tuesday that monetary easing alone is not enough to end deflation and push up prices. "The deflationary mindset that has beset Japan for such a long time won't change suddenly. But we've seen some changes in the past two years, which is significant," Aso told parliament. Join the conversation about this story » NOW WATCH: Here's how Floyd Mayweather spends his millions  | ||
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