Iran is pushing boundaries amid rising tensions in the Gulf, but President Trump has so far not been "compelled" to retaliate militarily, analysts say.World Politicsread more
The U.K. will find out who its next prime minister will be on Tuesday.Europe Politicsread more
UBS announced a net profit of $1.4 billion for the second quarter of 2019.Earningsread more
Japan and South Korea are part of a complex and tightly linked supply chain that produces electronic goods such as smartphones and laptops.Technologyread more
Michael Kugelman from the U.S.-based Wilson Center says other issues take precedence in the bilateral dialogue between the United States and Pakistan — namely, Afghanistan and...Asia Politicsread more
Beijing says it can still meet its 2019 growth target of between 6% and 6.5% and continues to roll out stimulus measures to prop up activity. China set a 2019 industrial...China Economyread more
A different oil pricing dynamic has been evolving with new supply calculations based on the U.S. as the world's largest producer.Market Insiderread more
The Massachusetts senator's alarm-sounding on consumer debt neglects to measure it against the growth in the economy and the ability to pay.Economyread more
Stocks in Asia Pacific edged up on Tuesday, as investors await closely-watched central bank meetings in the coming days.Asia Marketsread more
More than half of Venezuela's 23 states lost power on Monday, according to Reuters witnesses and reports on social media, a blackout the government blamed on an...World Politicsread more
Equifax will give consumers a range of options for monitoring their credit or making claims of fraud or data misuse, part of a $425 million restitution fund.Technologyread more
The head of Deutsche Bank made a rare public call on Wednesday for cross-border mergers in Europe, weeks after Germany's flagship lender scraped through regional stress tests.
John Cryan's remarks will likely spur further discussion about the future of the struggling bank, although he was quick to throw cold water on reports that Deutsche examined a merger with Commerzbank — which is partly owned by the German state.
Shares of Deutsche Bank were briefly more than 3.5 percent higher in New York trade, while Commerzbank shares traded nearly 4 percent higher in Frankfurt. The STOXX Europe 600 Banks index traded more than 2 percent higher.
It's a "risk-on day today in the markets and maybe the Commerzbank story adding a bit of an interest," Macquarie analyst Piers Brown told CNBC.
Criticizing what he called the "scattered regionalism among banks," Cryan said: "We need more mergers, at a national level, but even also across national borders."
Asked if he sees the time coming back when Deutsche will engage in large takeovers, he said "not any time soon."
Macquarie's Brown said the likelihood of Deutsche merger was low, although "it's a little odd for (Cryan) to say consolidation needs to happen, but on the other hand we're not going to be the catalyst."
Profits across Europe's banks have been generally sinking, as economic growth remains at a low ebb, interest rates stay at rock bottom and the task of sifting through billions of euros of risky loans continues.
German banks, in particular, have struggled as the European Central Bank prints ever more fresh money and makes it more expensive for lenders to hoard cash.
"If we look at Germany in particular, it hasn't gone through that wave of consolidation like Spain has, Italy seems to be moving in that direction and France has been through it," Cryan said. "In Germany there are in my view just too many banks."
But he also singled out the ECB for criticism. "The side effects of these policies are now becoming more and more apparent."
"It's not only the banks that suffer. There are also disastrous consequences for savers and their pension investments."
At the end of last month, Deutsche was shown to be weaker than many of its peers in European Union stress tests that ranked it tenth from the bottom of 51 lenders.