FRANKFURT - Deutsche Bank's earnings fell by half in the first quarter, a greater-than-expected drop as hefty legal charges eroded gains in investment banking revenue, while it prepares to unveil details of a strategic overhaul.
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HELSINKI - Finland's Nokia denied reports in Chinese media that it planned to return to manufacturing phones.
HAMBURG/FRANKFURT - Ferdinand Piech, a towering figure at Volkswagen for more than two decades, resigned as its chairman on Saturday after losing a showdown he had provoked with Chief Executive Martin Winterkorn, ending an era at the iconic German carmaker.
MILAN - At least five investment banks are vying to win a mandate from Banca Popolare di Milano (BPM) and find it a partner as Italian cooperative lenders gear up for a wave of mergers following a landmark reform of the sector.
SHANGHAI/HONG KONG - Bankers at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters say.
- Comcast Corp abandoned its $45 billion offer for Time Warner Cable Inc on Friday after U.S. regulators raised concerns that the deal would give Comcast an unfair advantage in the cable TV and Internet-based services market. | Video