Wells Fargo expects short term profit hit from interest rates rise -CEO
Dec 6 Wells Fargo & Co will see a near term profit hit because of the sharp rise in interest rates, Chief Executive Officer Tim Sloan said on Tuesday.
FRANKFURT Feb 17 German retailer Metro AG will keep costs under tight control to improve the group's performance, its chief executive said in an interview.
"We are reviewing all our costs, including those for administration, our local subsidiaries and also the management board," Olaf Koch told Sueddeutsche Zeitung, adding that business class tickets for short-haul flights were off the table.
Koch has sought to strip costs, lower prices and improve services, measures that could not prevent Metro to be demoted from the index of leading German shares in September.
Koch said he wanted Metro to return to the DAX index of Germany's top 30 companies, but did not provide a specific target.
Metro has also been taking a tougher stance on underperforming divisions. It has sold off its UK and Moroccan cash-and-carry operations, as well as most of its Real hypermarkets in Eastern Europe. (Reporting by Christoph Steitz; Editing by Maureen Bavdek)
* SL-401 was found to be safe and well tolerated, and side effects were predictable and manageable
NEW YORK, Dec 6 (IFR) - Books for a new up to three-part US dollar bond from Petroleos Mexicanos have reached US$30bn, according to a lead on the deal.