DEUTSCHE
Wall Street bankers beaten in ‘Smartest’ chess tournament
William Graif, a chess enthusiast, has competed in various countries and now focuses on teaching chess to children after participating in the World Corporate Chess Championship.
True freedom lies in train of thoughts
Lasse Stolley, a 17-year-old German coder, has taken the freedom of travel to a new level by living on a Deutsche Bahn railcar. For about $10,000 a year, he travels 600 km a day, eating in dining cars, sleeping in bunks, and bathing in community centre showers. Stolley believes that life on the train provides the freedom to choose where he wants to go at any time, reminding him of the true luxury of freedom.
LGBTQIA+ employees have a new ally at workplace in senior leaders
At companies such as GE Aerospace, IBM, LTIMindtree, Deutsche Bank, Cisco, Cummins and Thoughtworks, board members, leaders, people managers as well as teammates are driving a culture of inclusiveness so that LGBTQIA+ workers don’t feel isolated.
RBI MPC meeting: India’s FY25 GDP forecast raised to 7.2% from 7%
The Reserve Bank of India (RBI) raised the FY25 real GDP growth forecast to 7.2% from 7% due to improved rural and urban demand, bolstered by monsoon predictions. The Monetary Policy Committee kept the benchmark rate at 6.25%, noting domestic economic resilience. India's FY24 GDP growth accelerated to 8.2%, driven by a sharp decline in the GDP deflator.
Euro zone bond yields rise as ECB offers fuzzy outlook
"The Governing Council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction," the ECB said in a statement.
Vipul Bansal's journey from humble beginnings to Wall Street success
Vipul Bansal, Director at Deutsche Bank, shares his inspiring journey to motivate aspiring finance professionals from a small city in India to global success.
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European Central Bank set to cut rates for the first time since 2019 even as inflation fight continues
All 82 economists polled by Reuters expected the ECB to trim its deposit rate to 3.75% on Thursday from a record 4.0%, in what would be its first cut since 2019. ECB policymakers have clearly telegraphed their intention to lower borrowing costs after seeing inflation in the 20 countries that share the euro fall from more than 10% in late 2022 to just above their 2% target in recent months.
Yield on SP Co's ₹14,300cr NCDs Surges
Goswami Infratech's NCDs yield surged to 22% due to SP Group's debt raise, linked to SIPL's interest rate, triggering early redemption event, approved for extension until Sept 2024.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
Continuum energy to raise $650 m via bonds
Continuum Green Energy, a renewable energy generator, plans to raise $650 million in bonds to refinance existing debt, with Deutsche Bank, HSBC, JPMorgan, and Standard Chartered Bank as arrangers.
Strong growth, lower fiscal deficit may lead to India rating upgrade: Deutsche Bank
A German brokerage predicts a possible sovereign rating upgrade for India due to strong growth and improved fiscal deficit targets. S&P recently upgraded India's sovereign rating outlook to 'positive'. The real GDP growth for India has been resilient, with a notable increase in FY24.
India’s near-8% growth gives Modi a boost as elections end
India is expected to report close to 8% economic growth for the fiscal year ending in March, boosting Prime Minister Modi’s government as elections conclude. The growth in the first three months is predicted to be 7%, with the full year reaching 7.9%. The quarterly GDP release is eagerly awaited.
European shares struggle for direction ahead of ECB's inflation surveys
European shares were subdued as investors awaited inflation surveys for insights on the ECB's monetary policy, with Germany's DAX up 0.2% post a 1.8% fall in April's wholesale prices.
Four European Union banks seek RBI nod for clearing model
"There was a meeting last month between the heads of four European banks and top RBI officials. The banks have sought the RBI's approval on the proposed third-party model because there is no established rulebook for this kind of arrangement," a source aware of the developments said.
Air India names Tata Projects' Sanjay Sharma as new CFO
Air India has named Sanjay Sharma as its new chief financial officer, succeeding Vinod Hejmadi who retired after a long tenure with the airline now owned by Tata. Sharma brings over 30 years of experience in Corporate Finance, Investment Banking, and Real Estate, having held key finance positions at Tata Projects Limited and other reputable organizations. He will report to Air India's CEO & MD, Campbell Wilson.
Deutsche Bahn invites fresh bids for €15 billion logistics arm
Deutsche Bahn AG has evaluated bids for DB Schenker. Companies such as CVC, Carlyle, DSV, Maersk, MSC, Bahri, ADQ are the potential buyers.
Running toward success: How Zetwerk's CFO Pulkit Bhandari uses fitness to solve complex problems
Pulkit Bhandari, CFO of Zetwerk, believes that play and work complement each other, enhancing resilience and problem-solving skills. A chartered accountant with a background in corporate finance at RPG Enterprises and investment banking at Deutsche Bank and ICICI Securities, Bhandari is also a dedicated athlete. He has completed 10 full marathons, numerous half marathons, open water swims, and a half Ironman. His fitness journey began in childhood and was reignited by a gifted Garmin watch.
Nasdaq hits record, S&P ticks higher with Nvidia results eyed
The S&P 500 technology index led gains among the 11 major S&P sectors, rising 1.32%, helped by chipmakers such as Nvidia, which advanced 2.49% ahead of its quarterly results on Wednesday.
Deutsche Bank lifts S&P 500 year-end target to Street-high of 5,500
Deutsche Bank has raised its 2024 year-end S&P 500 target to 5,500, the highest among major brokerages, banking on strong corporate earnings to support equity valuations.
SP Group arm Goswami Infra sweetens bond deal
Shapoorji Pallonji Group offers ₹400 crore more to Goswami Infratech bondholders to extend deadline for meeting covenants on ₹14,300 crore borrowings. The company seeks a 4-month window to sell assets, ensure payment of ₹1,400 crore interest at 18.75% by September 30, 2024.
Eat, pray, work.. want a detox retreat? Step into your office
According to a report by fitness technology company GOQii last month, almost 45% of India's population hovers dangerously close to being classified as unhealthy, adversely affecting not only individual mental and physical well-being but also diminishing productivity.
Russia seizes Deutsche Bank, UniCredit assets
A Russian court in Saint Petersburg rules to seize 239 million euros from Deutsche Bank and 463 million euros from UniCredit in Russia. European banks exit after Moscow's 2022 offensive on Kyiv. The court decision follows a request from RusKhimAlians planning a gas project with German company Linde, affected by Russia's military assault.
Mizuho is in talks to buy KKR’s part stake in fintech company InCred
According to latest discussions, global investment firm KKR may sell around 10% stake in Mumbai-based tech-driven NBFC InCred but this may change depending on how the talks progress, sources told ET.
Donald Trump may owe $100 million from double-dip tax breaks, audit shows
The New York Times and ProPublica revealed that Donald Trump employed a questionable accounting tactic to claim improper tax breaks on his Chicago tower, facing a potential $100 million+ tax bill. In recent months, Trump has also been ordered to pay $83.3 million in a defamation case and an additional $454 million in a civil fraud case brought by New York Attorney General Letitia James.
Muthoot Finance raises $650 million via offshore dollar bonds
The non-banking financial company raised the funds through bonds maturing in three years and nine months at a coupon rate – or rate of interest – of 7.125%. The funds will be used for onward lending and other activities that are allowed under the Reserve Bank of India’s external commercial borrowing guidelines.
PFC seeks legal view on Shapoorji Pallonji promoters' Rs 15,000 crore loan ask
State-owned Power Finance Corp (PFC) is seeking legal counsel regarding the approval of a ₹15,000 crore loan to the promoters of the Shapoorji Pallonji (SP) Group, leveraging their 18.37% shareholding in Tata Sons as collateral. Earlier this year, the Mistry family, who are the promoters, proposed obtaining funds from the lender based on cash flows from their real estate business and their Tata Sons shares.
Who is Lasse Stolley? German teenager lives on train 24x7, eats, sleeps, works there. Know in detail
Lasse Stolley is homeless. So, he rides a first-class Deutsche Bahn railcar and travels about 600 kilometers traversing Germany and neighboring European Union countries every day. He sleeps on that train, takes breakfast in the dining car, washes his clothes in the sink of the compartment, and takes a shower in public swimming pools.
European shares rise on energy boost, rate-cut hopes
European shares climbed on Monday, with investor optimism over interest rate cuts globally back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit.
Deutsche Bank Q1 Results: Profit jumps 10% as investment bank outperforms
Deutsche Bank posted on Thursday a better-than-expected 10% increase in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at its investment banking division.
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