Business News Amsterdam

  • FRANKFURT, April 25- German hopes of creating a national banking champion able to challenge global competitors were dashed on Thursday when Deutsche Bank and Commerzbank ended merger talks due to the risks of doing a deal, restructuring costs and capital demands. Germany's two largest banks announced that nearly six weeks of high-level negotiations about a...

  • FRANKFURT, April 25- Deutsche Bank and Commerzbank abandoned their merger talks on Thursday, with the risks of doing a deal, restructuring costs and capital demands dashing efforts to forge a German mega-bank. After nearly six weeks of talks, Germany's two largest banks announced that their high-level negotiations about a tie-up had ended, confirming an...

  • AMSTERDAM, April 23- Dutch supermarket group Ahold, warned on Monday that a strike at its Stop& Shop chain in the United States would hurt its underlying 2019 profit margin. The strike involved 30,000 workers in Connecticut, Massachusetts and Rhode Island. Ahold kept its full-year free cash flow estimates unchanged at 1.8 billion euros, due to expected growth at...

  • *Gasoline stocks in independent storage in the Amsterdam- Rotterdam- Antwerp refining and storage hub dropped 10 percent in the week to Thursday to their lowest level since December 2018, data from Dutch consultancy Insights Global, previously PJK International, showed. *The draws in gasoline stocks were driven by strong demand from the U.S. East Coast and Asia,...

  • Losses in bank-heavy Milan and Madrid indexes led declines, while Germany's DAX edged higher. The data came on the heels of the German government lowering its forecast for 2019 economic growth on Wednesday, which was overshadowed by better-than-expected economic data out of China. "We... have confirmation that we are in a bit of a weak spot in Europe, if you look at...

  • WASHINGTON, April 9- Standard Chartered Plc has agreed to pay $1.1 billion to U.S. and British authorities for conducting illegal financial transactions that violated sanctions against Iran and other countries, government authorities announced on Tuesday. A former Standard Chartered banker in Dubai in the United Arab Emirates pleaded guilty in a New York...

  • NEW YORK, April 4- The family of an American killed when a Malaysian Airlines plane was shot down over Ukraine in 2014 filed a lawsuit on Thursday against U.S.-based money transfer companies and two Russian banks they accuse of providing services to the group they blame for striking Flight MH17. MH17 was brought down over territory held by pro-Russian...

  • UNITED NATIONS, April 4- The family of an American killed when a Malaysian Airlines plane was shot down over Ukraine in 2014 filed a lawsuit on Thursday against U.S.-based money transfer companies and two Russian banks they accuse of providing services to the group they blame for striking Flight MH17. MH17 was brought down over territory held by pro-Russian...

  • *Adds 1.3 mln customers in France. With debt of 28.8 billion euros at end of 2018, more than twice its yearly revenues, Altice Europe's share price has been under pressure since 2017 over its ability to perform better in France, which represents two-thirds of its sales. The group's SFR brand in France managed to gain more than 1 million mobile customers as well as...

  • PARIS, March 28- Telecoms and cable group Altice Europe said on Thursday it expected a return to growth in France in 2019 after a year of heavy promotions that dented profits but helped it gain market share. The Amsterdam- based group said it expected its French business, which represents more than two-thirds of sales, to grow between 3-5 percent in 2019 and to...

  • JOHANNESBURG, March 25- Naspers will float its e-commerce ventures on the Euronext stock exchange in Amsterdam, it said on Monday, the latest move by South Africa's biggest company to address a hefty discount in its shares. Founded more than 100 years ago in Stellenbosch, South Africa, Naspers has transformed itself from a newspaper publisher into a 1.5 trillion...

  • JOHANNESBURG, March 25- South Africa's Naspers will float its e-commerce ventures on the Euronext stock exchange in Amsterdam, it said on Monday.

  • FRANKFURT- Opening remarks by ECB Board Member Luis de Guindos at the ECB colloquium, marking the end of the tenure of Ignazio Angeloni as a member of the supervisory board of the European Central Bank in Frankfurt, Germany 0815 GMT. FRANKFURT- Speech by ECB Board Member Ignazio Angeloni at the ECB colloquium, marking the end of his tenure as a member of the...

  • FRANKFURT- General Council meeting of the ECB in Frankfurt. FRANKFURT- Opening remarks by ECB Board Member Luis de Guindos at the ECB colloquium, marking the end of the tenure of Ignazio Angeloni as a member of the supervisory board of the European Central Bank in Frankfurt, Germany 0815 GMT. FRANKFURT- Speech by ECB Board Member Ignazio Angeloni at the ECB...

  • March 19- TP ICAP is putting extra broking staff into its European offices outside London to help clients deal with any disruptions if Britain exits the trading bloc without a deal. But TP ICAP, which has picked Paris as its European Union hub for when Britain leaves, said it had not yet moved any jobs. And the London- based firm, the world's largest interdealer broker,...

  • *Paris, Amsterdam taking most trading business from London. LONDON, March 8- A quiet, permanent shift in trading from London to the European Union ahead of Brexit is picking up speed as stock and bond platforms in Amsterdam and Paris crank into action. Few expect London to lose its position as Europe's biggest financial hub, but Britain's departure from the EU is...

  • AMSTERDAM, March 8- In a radiation-proof room at the Erasmus Medical Center in Rotterdam, Emar Thomasa sits behind shielded glass as he carefully measures and mixes lutetium octreotate, an intravenous treatment for certain types of cancer. Drug firm Novartis, which in 2018 acquired rights to sell it in Europe, is asking more than five times that for its...

  • WASHINGTON, March 7 (Reuters)- The United States has indicted the daughter of the late president of Uzbekistan on corruption charges for allegedly using her official position to solicit more than $865 million in bribes from three telecommunications companies, the Justice Department said on Thursday. Gulnara Karimova, working with telecoms executive...

  • NEW YORK, March 7- Cable operator Altice USA Inc is exploring options for its Lightpath fiber unit, including a divestment of the seller of Internet services to large corporations that could fetch $3 billion, according to sources familiar with the matter. New York- based Altice USA has hired investment bank Goldman Sachs to assist in the process, the sources said,...

  • LONDON, March 5- The Bank of England said it will offer more euros to banks in Britain to avoid any cash crunch after Brexit and warned that other European Union countries are not fully ready for the possible no-deal hit to the financial system. The BoE said most financial stability risks in Britain from a no-deal Brexit had been mitigated, and UK banks had enough...