SABMiller upped its cost-savings target by over $550 million, the London-based brewer’s latest attempt to underscore the strength of its business in the face of a takeover approach by Anheuser-Busch InBev.
Deutsche Bank’s warning that it expects a big third-quarter loss highlights a potentially bumpy financial-reporting season looming for European banks, as a slate of new chief executives address concerns over profitability.
Some financial advisers take as long as two years to negotiate and prepare for a job change. But their clients don’t usually have that much time to decide whether to stay put or follow, out of fear of a gap in which their portfolios won’t be closely monitored.
Wall Street’s trading business is going through a profound change—and bonds are on the wrong side of it. Banks’ revenue from bond trading is expected to decline, while stock trading is picking up steam.
The chief executive of U.S. oil-field services company Weatherford International Ltd. defended the firm’s recent restructuring, saying he was looking to make every single function at Weatherford perennially efficient.