FT: Deutsche Bank ban inside stock selling

The merger talks between Deutsche Bank and Commerzbank have continued and according to Financial Times, the Deutsche Bank´s top managers have been banned from selling any bank stock.

Bankers who have tried to sell their stocks after lock-up period were blocked by the banks compliance and they were told that the banks shares have been added to the banks internal conflict list.

According to Deutsche Bank, the banning of the stock sales will continues until the merger talks with Commerzbank are clear one way or another. If the merger is to be completed, it will mean that Deutsche and Commerzbank will create the second largest bank group in the eurozone.

Banks total board remuneration rose last year to 55,8 million euros from 29,8 million euros the year earlier.

 

Business Finance

Brexit: MPs having indicative votes next week in the UK Parliament

The Brexit-deal is accelerating next week in the UK Parliament. The MPs will have several indicative votes related to different Brexit-outcomes or second referendum. This means practically that all outcomes are open in this situation.

The general opinion of the Brexit-deal has gain new levels while millions of British people have signed the pledge against leaving the EU. On Saturday there were also protest marching in London to rise the overall interest of the topic and voting for a second referendum.

According to weekend newspapers there has also an internal discussion of the Prime Minister Theresa May´s role in the Conservative party. This shows the tensions what the Brexit-deal is having also inside the party. The BBC reported on Sunday that Theresa May could gain support for her Brexit deal if she promises to stand down as a prime minister, according to senior party representatives.

On the other hand, the finance minister Philip Hammond commented on Sunday, that Britain must find a way to leave the EU in an orderly fashion rather than trying to oust Prime Minister Theresa May.

And one can say that the MPs are more or less frustrated with the situation. As MP George Freeman tweeted: “…across the country you can see the anger. Everyone feels betrayed. Trust in democracy is collapsing. This cant go on.”

The EU leaders agreed last week that the Brexit-deal can be delayed until at last 12 April. If May´s deal is approved next week in the Parliament, the EU has agreed to extent the Brexit deadline until 22 May.

If the UK Parliament is not backing the Goverment´s deal and no other plan is revealed then the UK is set to leave the EU on the 12th April.

The big question for the next week is, if May´s deal is getting enough votes in the Parliament. The Goverment´s deal has been rejected two times in the Parliament before. On the other hand, the House of the Commons Speaker John Bercow has commented that the May´s deal needs fundamentally new items in order to be voted again in the Parliament.

 

Business Finance

Hublot to present new Ferrari watch in Basel

Hublot, part of the French LVMH (LVMH) Group,  presented several exceptional new timepieces at Baselworld 2019, including the new Ferrari watch.

– Continuing its long collaboration with Ferrari, Hublot also unveiled the Classic Fusion Ferrari GT, a watch, whose innovative design integrates the new Unico manufacture movement and the dynamic lines of Gran Turismo very high-performance luxury cars, the company says.

According to Hublot this collaboration has also for the first time enabled Hublot teams to fuse their skills with those of the “Centro Stilé Ferrari” design center. This was one fo the new moments with creating new bridges between watchmaking motorization and automotive design.

 

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Porsche Design Watches for global travellers

 

Porsche Design has launched several new watches for the BaselWorld2019. They have integrated for example unique time-zone functions for global travellers.

– Porsche Design’s 1919  Globetimer UTC makes it very easy for frequent travelers not to lose a moment of  precious time. The local time can be conveniently set with the aid of the ergonomically shaped, optimally positioned pusher. Each press of this button causes the short, local-time hour hand to advance clockwise one position. When flying east, each press of the “+” button advances the second time zone by an interval of one hour. When flying west, pressing the “–” button causes the UTC hands to move in the opposite
direction. All the while, the UTC hands automatically move, remaining in synchrony, the company says.

The 1919 Globetimer UTC is part of the exclusive 1919 watch collection and is available as of September 2019, in four model variants, starting at a price of 5,950 euros.

 

Business Lifestyle

Brexit: EU offering 2 months delay (corrected)

The EU is offering UK a 2 months delay to the Brexit deal. This would mean that the deadline would be May 22.(*)

The EU leaders were having meeting today and according to news wires, the proposal woud mean that the UK Parliament would have to accept the deal next week. Otherwise there would be no deal, according to France President Emmanuel Macron.

The UK Prime Minister Theresa May is expected to have a press conference in the evening.

*corrected right month, May 22

Business Finance

Baselworld2019: New innovations for luxury

It is spring time in Baselworld2019. This year will mark the fairs even more towards innovations and creativity. The global number one place for luxury watches and jewellery is also presenting the best of new innovations but with traditional expertise and knowhow.

The Swiss Watch Industry itself recorded last year a 6,3 % increase in exports and the total turnover was 21,2 billion Swiss francs. So luxury industry matters and it is an essential part of the country’s gross domestic product.

ComteamPUB+ will share with you the best innovations and trends from Baselworld.

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