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World shares hit new high but Europe rally fades on Greece

LONDON - World shares hit a new high on Monday, led by China, though the global rally faded in Europe as investors looked ahead to central bank meetings in the United States and worried over Greece.

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German Chancellor, Greek PM agree to stay in touch to reach debt deal

ATHENS - Greek Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation on Sunday to maintain contact during talks between Athens and its lenders to reach a debt deal, a Greek government official said.

Greece, World 26 Apr 2015

Deutsche Bank pledges overhaul, shares slide

FRANKFURT - Deutsche Bank will cut 200 billion euros ($217.5 billion) in investment bank assets and exit a tenth of the countries in which it operates as part of a restructuring program designed to boost earnings and cut risk.

4:08am EDT

Nokia denies return to phone manufacturing

HELSINKI - Finland's Nokia denied reports in Chinese media that it planned to return to manufacturing phones.

26 Apr 2015

VW board members demanded Piech go after learning of secret plot

BERLIN/FRANKFURT - Ferdinand Piech, who resigned as chairman of Volkswagen over the weekend, sowed the seeds of his own demise by reneging on a deal to support CEO Martin Winterkorn and secretly plotting to oust him instead, according to sources close to the VW board.

26 Apr 2015

China plans to cut number of big state firms to 40: state media

BEIJING - China will likely cut the number of its central government-owned conglomerates to 40 through massive mergers, as Beijing pushes forward a sweeping plan to overhaul the country's underperforming state sector, state media reported on Monday.

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