Noticias

QUEASY calm is unpleasant, but it beats sickening panic. Late on September 29th Deutsche Bank’s share price lurched downwards again, to a 34-year low, after Bloomberg reported that “about ten” hedge funds had switched some business away from the troubled German lender. That capped a stomach-churning fortnight, after America’s Department of Justice (DoJ) requested $14 billion to settle claims that Deutsche mis-sold residential mortgage-backed securities (RMBSs) before the financial crisis. Hopes that it might settle with the DOJ for $5 billion-odd, though so far unfulfilled, have since brought uneasy respite. On October 5th Deutsche’s shares were some 20% above their nadir.  

A swift, affordable agreement would end uncertainty about the bill and quieten chatter, pooh-poohed by government and bank, that the German state might have to prop up the country’s biggest lender. It would also buy breathing space….Continue reading

SHORTLY after Mark Frissora took over as chief executive of Caesars Entertainment last year, he paced the floors of his American casinos, with their rows and rows of idle slot machines, and grasped the scale of the existential threat that faces his industry. Casino customers are ageing, and younger people have little interest in taking their place. Mr Frissora called on his company to brainstorm a new “casino within a casino” to draw in millennials who grew up playing video and mobile-phone games.

Next door on the Las Vegas Strip, Jim Murren, CEO of MGM Resorts International, the city’s largest gaming operator, is making similar moves. Mr Murren has convened a committee of millennial employees to work out how to keep the business relevant to future generations. Both firms will soon open experimental spaces for young people, including new types of slot-machine games that test players’ skills as much as their wallets.

These offer a glimpse of a casino of the future that looks very different indeed. There are gravity-free rooms where you can literally climb the walls; LED screens that continuously change interior backgrounds; and…Continue reading

WHEN firms merge, their bosses gush Panglossian jargon. So it was with the tie-up announced this week of Henderson Global Investors, an Anglo-Australian asset manager, and Janus Capital, an American one. Janus Henderson, as the combined business will be known, will become a “truly global” asset manager that will deliver “compelling value creation”, boasted its American half. Yet behind the boosterism lie the real fears of active fund managers: of losing business to passive ones—ie, those offering funds that simply track a market index. It is hard not to see the merger as, more than anything, a defensive move.

To be fair, the companies do have a strong business case for merging. Janus is deeply established in America and Japan. It is famous for having in 2014 hired Bill Gross, the “bond king”, when he abruptly left Pacific Investment Management Co, PIMCO, the firm he co-founded and turned into a giant. Henderson’s sales network is centred on Europe. The firms stand to gain more from selling each other’s products in new markets than they will lose from stepping on each other’s toes.

Moreover, the combined…Continue reading

La exconsejera de Caja Madrid Mercedes Rojo ha expuesto, al igual que gran parte de los exaltos cargos y directivos de Caja Madrid, que se sientan en el banquillo que fue el exsecretario general de la entidad Enrique De la Torre el que le entregó la Visa. Leer

Se sumarán a los 3.000 puestos de trabajo que ya anunció el pasado mes de junio. Leer

Dice que era un cliente «de toda la vida, que consumía en la cadena», donde hacía «muchas reuniones de trabajo», Leer

Dice que era un cliente «de toda la vida, que consumía en la cadena», donde hacía «muchas reuniones de trabajo», Leer

El banco también fusionará catorce Direcciones Regionales, dejando la cifra total en veinticinco. Leer

Argumentan que las hojas de cálculo contienen gastos duplicados y cargos efectuados con tarjetas clonadas. Leer

El sistema no necesita que el cliente se descargue una app específica, sino que estará integrado en las aplicaciones de banca electrónica de cada entidad. Leer