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Gold prices have surged to a new record high, buoyed by political uncertainty and the impact of upcoming US tariffs, which may affect imports from Canada. The widening price gap between Comex and London spot prices indicates ongoing support for gold, especially as potential weak US economic indicators could lead to further interest rate cuts by the Fed.
US crude oil inventories fell by 3.3 million barrels last week, marking the largest decline of the year, according to the US Department of Energy. Current stocks are approximately 5% below the 5-year average, despite expectations for an increase. Notably, petrol and distillate stocks also decreased, influenced by high net exports of oil products.
China's gold exports to Hong Kong surged to 41 tons in February, more than doubling from the previous month and marking the highest level in a decade, while imports from Hong Kong saw only a slight increase. This shift indicates weak domestic demand in China, prompting traders to export surplus gold to capitalize on higher global prices.
Deutsche Bank has extended CEO Christian Sewing's contract for a third term until April 2029, while CFO James von Moltke and board member Stefan Simon will depart. The bank is rethinking its strategy amid a crucial year for its turnaround, with potential business closures on the table. Despite recent challenges, including a legal issue that impacted profits, Sewing remains optimistic about leveraging opportunities for growth.
Deutsche Bank has extended CEO Christian Sewing's contract for a third term until April 2029, as part of a significant management overhaul that includes the departure of CFO James von Moltke and board member Stefan Simon. The bank aims to refine its strategy and address past legal issues while pursuing ambitious profit and cost targets, despite some skepticism from analysts regarding its goals. Shares have roughly doubled under Sewing's leadership, outperforming the Stoxx Europe 600 Banks index.
Deutsche Bank has announced a leadership shake-up, with CFO James von Moltke departing and being succeeded by Raja Akram from Morgan Stanley. CEO Christian Sewing's contract has been extended until April 2029, while chief legal officer Stefan Simon will leave in May for personal reasons. The changes come as the bank seeks to refine its strategy amid ongoing challenges.
Commerzbank is set to implement Ideagen’s audit technology, enhancing its operational efficiency and compliance capabilities. This partnership aims to leverage advanced audit solutions to improve the bank's auditing processes and overall governance.
UniCredit's CEO Andrea Orcel stated that the bank will only pursue a buyout of Banco BPM if the terms are favorable, emphasizing the importance of a sensible deal. He confirmed guidance for a 2025 net profit matching last year's record and highlighted the bank's strong performance since 2021, having returned €26 billion to investors. Recent developments have negatively impacted Banco BPM's share price, as the European Central Bank expressed concerns over its acquisition of Anima Holding, affecting investor expectations for a higher premium.
UniCredit's CEO Andrea Orcel stated that the bank would realize a capital gain if it sells its stake in Commerzbank. During the annual general meeting, he noted that while hedging the investment limited potential profits, it ultimately protects shareholders and enhances capital position.
Commerzbank AG has successfully completed a EUR 400 million share repurchase program. The bank, a major player in Germany's financial sector, reports that its net banking product is divided into retail and private banking (52.4%), market and investment banking (33.2%), and other services (14.4%). By the end of 2023, Commerzbank managed EUR 419.8 billion in current credits and EUR 298.7 billion in current deposits.
Commerzbank AG
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gold prices soar amid political uncertainty and us tariff concerns
11:00 28.03.2025
US crude oil inventories drop by 3.3 million barrels amid declining demand
11:00 28.03.2025
China's gold exports to Hong Kong surge amid weak domestic demand
10:46 28.03.2025
deutsche bank extends ceo sewing's contract amid management shakeup and strategy shift
Commerzbank AG
Deutsche Bank Money Market PP
Morgan Stanley
DEU
Fabrizio Campelli
Alexander Wynaendts
Theodor Weimer
Christian Sewing
James von Moltke
Raja Akram
Stefan Simon
Dagmar Valcarcel
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07:10 28.03.2025
Deutsche Bank extends CEO contract and reshuffles leadership team for turnaround
Euro
Commerzbank AG
Deutsche Bank Money Market PP
Morgan Stanley
DEU
Christian Sewing
Fabrizio Campelli
James von Moltke
Raja Akram
Stefan Simon
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07:10 28.03.2025
deutsche bank appoints new cfo amid leadership changes and strategy shift
Euro
Commerzbank AG
Morgan Stanley
Deutsche Bank Money Market PP
Citigroup Inc.
DEU
Alexander Wynaendts
Fabrizio Campelli
Marcus Chromik
Christian Sewing
James von Moltke
Raja Akram
Olivier Vigneron
Stefan Simon
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19:41 27.03.2025
Commerzbank partners with Ideagen to enhance audit technology solutions
17:44 27.03.2025
unicredit to pursue banco bpm acquisition only on favorable terms
Euro
Banca Generali S.p.A.
Banco BPM S.p.A.
Anima Holding SpA
Commerzbank AG
UniCredit S.p.A.
ITA
DEU
Valentina Za
Andrea Orcel
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13:59 27.03.2025
unicredit poised for capital gain from potential comdirect stake sale
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Commerzbank completes 400 million euro share repurchase program
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