UPDATE 2-U.S. lawmakers reach $19.1 bln disaster relief deal, no border aid

(Adds details on disaster aid and border aid request) By Susan Cornwell WASHINGTON, May 23 () – U.S. House of Representatives and Senate negotiators have reached a deal on a $19.1 billion disaster aid bill that has President Donald Trump’s support, and which includes money for farmers, highways and hurricane-ravaged Puerto Rico, lawmakers from both

UPDATE 4-Casino’s parent Rallye placed under creditors’ protection

PARIS () – A Paris commercial court on Thursday placed Rallye, the parent company of retailer Casino, which is battling investor concerns over its high debt, under creditors’ protection for at least six months. FILE PHOTO: The logo of Casino shop is seen in Nice, France, January 15, 2019. /Eric Gaillard/File PhotoThe safeguard proceedings cover

Deutsche Bank plans cuts in U.S. equities, prime unit -sources

NEW YORK () – Deutsche Bank is planning cuts at its U.S. equities business, including prime brokerage and equity derivatives, to win over shareholders unhappy about its performance, four sources familiar with the matter told . CEO Christian Sewing delivers a speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in

Destination Milan: private equity firms spread wings to woo Italy clients

LONDON/MILAN() – Investment firms, including buyout fund EQT, are flocking to Milan to develop closer ties with Italy Inc, where cash-starved family-owned companies are increasingly seeking foreign capital to boost growth. The search for real estate in the financial capital of the euro zone’s third largest economy comes as uncertainty around Britain’s departure from the

WRAPUP 6-India’s Modi stuns opposition with huge election win

NEW DELHI/AYODHYA () – Indian Prime Minister Narendra Modi scored a dramatic election victory on Thursday, putting his Hindu nationalist party on course to increase its majority on a mandate of business-friendly policies and a tough stand on national security. His re-election reinforces a global trend of right-wing populists sweeping to victory, from the United

UPDATE 1-Swiss government baulks at signing EU treaty – sources

ZURICH () – Opposition from across the political spectrum will make it all but impossible for the Swiss government to sign a draft treaty with the European Union next month, sources close to the matter told . FILE PHOTO: An EU flag flies between Swiss and German national flags near the German-Swiss border in Rheinfelden,

REFILE-French bank SocGen further reduces business with coal industry

FILE PHOTO: A view shows the logo on the headquarters’s of French bank Societe Generale at the financial and business district of La Defense, west of Paris, France, April 18, 2017. /Benoit TessierPARIS () – French bank Societe Generale said it was further reducing its servicing the coal industry, as financial companies and banks around

Clock ticking on efforts to find British Steel buyer

LONDON A() – Time is of the essence if the UK authorities are to broker a rescue of British Steel after it collapsed into liquidation, putting 25,000 jobs at risk. FILE PHOTO: A British Steel works sign is seen in Scunthorpe, northern England, Britain, May 21, 2019. /Scott Heppell/File PhotoBritish industrialist Sanjeev Gupta’s Liberty House

UPDATE 1-Bank CEO Calk charged in scheme to win a job in Trump administration

(Adds further details on case, background on Manafort) By Sarah N. Lynch and Nathan Layne May 23 () – Federal prosecutors on Thursday unsealed criminal charges against Federal Savings Bank CEO Stephen Calk accusing him of corruptly approving high-risk loans to U.S. President Donald Trump’s former campaign chairman Paul Manafort in exchange for trying to

Hedge fund manager David Tepper plans to send investors’ money back

BOSTON () – Billionaire David Tepper plans to turn his hedge fund Appaloosa Management into a family office where he will invest his personal fortune and return capital to outside clients at some point, a person familiar with his plans said on Thursday. Appaloosa, which was founded by Tepper, has gained an average of 25%

UPDATE 1-Egypt’s central bank keeps key interest rates unchanged

(Adds background) CAIRO, May 23 () – Egypt’s central bank on Thursday kept its key interest rates unchanged, in line with a poll of economists. The central bank held its overnight deposit rate at 15.75% and its overnight lending rate at 16.75%, a bank statement said. Leaving them unchanged is “consistent with achieving the inflationary

UPDATE 4-Deutsche Bank CEO pledges tough investment bank cuts as shares hit low

FRANKFURT () – Deutsche Bank’s chief executive promised shareholders “tough cutbacks” at its underperforming investment bank on Thursday as he battled to convince them he can turn around Germany’s biggest lender, whose shares hit a record low. CEO Christian Sewing delivers a speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank,

Sri Lanka stocks edge up in light turnover; rupee up

COLOMBO, May 23 () – Sri Lankan shares closed slightly firmer on Thursday and extended gains into a fifth session, but trading volume slumped to a near five-month low amid worries over economic slowdown and lack of investor appetite for risky assets. ** Traders said the Easter day bombings and aftermath violence weighed on investor

UPDATE 1-Britain launches investigation into failed investment firm LCF

(Adds more detail, FCA comment) LONDON, May 23 () – Britain’s finance ministry said on Thursday it had appointed former judge Elizabeth Gloster to investigate the collapse of investment firm London Capital & Finance (LCF) and how it was supervised by the Financial Conduct Authority (FCA). LCF went into administration in January with losses of

Indian stocks shed gains as euphoria over Modi election win fades

* 10-yr bond yield hits lowest level since April 2018 * Stocks climbs to record highs, but then give up all gains * Rupee gives up gains, global pressures to keep downward bias * Share movement shows comfort with Modi, but concern on economy (Updates bonds, rupee closing levels) By Swati Bhat and Arnab Paul

Britain launches investigation into failed investment firm LCF

LONDON, May 23 () – Britain’s finance ministry said on Thursday it has appointed former judge Elizabeth Gloster to investigate the collapse of investment firm London Capital & Finance (LCF) and how it was supervised by the Financial Conduct Authority. LCF went into administration in January with losses of up to 237 million pounds ($300