Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K. Mike Kemp | In Pictures | Getty ImagesCologne’s higher regional court on Wednesday ruled against Deutsche Bank in a long-standing legal dispute with shareholders who alleged the lender underpaid in its acquisition of German retail bank Postbank.The institutions merged in 2018.Plaintiffs in the case claim that Postbank was worth more than the 25 euros ($27) per share paid by Deutsche Bank as part of its takeover offer of October 2010. The investors held they were entitled to a significantly higher payment of 57.25 euro per share.In…
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Investors should look beyond the so-called “Magnificent Seven” and identify “country winners” in tech outside the U.S., according to one hedge fund manager. Beeneet Kothari, CEO and principal portfolio manager at the U.S.-headquartered hedge fund Tekne Capital Management, said there are global tech stocks that also make good investments right now. “Our view is that there is a Magnificent Seven set of companies in each of the major economies in the world [which] you can buy for a fraction of the value,” he told CNBC Pro earlier this month. The Magnificent Seven stocks — Alphabet , Amazon , Apple , Meta Platforms , Microsoft…
A smartphone with a Qualcomm logo is placed on a computer motherboard in this illustration taken on March 6, 2023.Dado Ruvic | ReutersQualcomm shares fell nearly 5% in premarket trade after Bloomberg reported that British chip designer Arm is looking to scrap a key license for the U.S. firm.Arm has given Qualcomm a 60-day notice of the cancellation of their so-called architectural license agreement, Bloomberg reported, citing a document.The license in question allows Qualcomm to design chips based on Arm architecture. Arm operates by effectively licensing blueprints that other companies use to design semiconductors.CNBC has reached out to Qualcomm regarding…
Hikers on layered sandstone rock formations in the Fire Wave area of Valley of Fire State Park near Overton, Nevada. Ron Buskirk | Universal Images Group | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayOther than the Nasdaq, markets mostly fell U.S. markets were mixed Tuesday. The S&P 500 and Dow Jones Industrial Average dipped slightly but were close to the flatline. However, the Nasdaq Composite…
One of Capital One’s most rewarding cash-back credit cards has a new name and look. As of October 22, the no-annual-fee Capital One SavorOne Cash Rewards Credit Card has been rebranded as the Capital One Savor Cash Rewards Credit Card.Credit card refreshes are often accompanied by benefit or annual fee changes, but in this case, the only notable difference is a new name and card design. However, one new perk to be excited about is an increased welcome bonus for new cardholders.New Capital One Savor Cash Rewards Credit CardCapital One Savor Cash Rewards Credit CardRewardsEarn 8% cash back on Capital…
Republican presidential candidate Donald Trump dances for his supporters following a rally at East Carolina University on October 21, 2024 in Greenville, N.C. Ricky Carioti | The Washington Post | Getty ImagesDonald Trump’s campaign has accused British Prime Minister Keir Starmer’s Labour Party of “blatant foreign interference” in the U.S. presidential election after its volunteers travelled to the United States to help campaign for Kamala Harris.The campaign has filed a complaint with the Federal Election Commission in Washington, calling for an immediate investigation into what it called “apparent illegal foreign national contributions made by the Labour Party of the United Kingdom…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 bounced off its lows of the morning and edged into positive territory Tuesday afternoon. The market is digesting a rising 10-year Treasury yield and the latest batch of corporate earnings. For the most part, the results continue to be better than expected but nevertheless are being met with disappointing reactions. Of the companies we closely follow, only steelmaker Nucor gave weak guidance. 3M and RTX…
Russian President Vladimir Putin and Chinese President Xi Jinping at their bilateral meeting prior to the opening of the BRICS summit, on Oct. 22, 2024, in Kazan, Russia.Contributor | Getty Images News | Getty ImagesChina and Russia’s “profound” relationship will not change despite the turbulence in global geopolitics, Chinese President Xi Jinping told his counterpart Vladimir Putin at the opening of the BRICS summit in Kazan, Russia, on Tuesday.The two leaders met at the BRICS summit in Kazan on Tuesday afternoon local time, according to the official readouts from both governments.”The world today is facing momentous transformations unseen in a…
Aerial view of the Moscow Kremlin landmarks: St. Basil’s Cathedral, Kremlin, Spasskaya Tower and Red SquareSergey Alimov | Moment | Getty ImagesThe Kremlin said it has no intention of abandoning Iran as it faces a widely-expected direct attack from Israel.Iran is under pressure as its proxies, the militant groups Hamas and Hezbollah, come under heavy Israeli attack in Gaza and Lebanon, respectively. The Islamic Republic is also facing the prospect of a direct attack by Israel in retaliation for a missile attack it launched against its regional rival at the start of the month.After aiding Russia in its war against…
A sign for Deutsche Bank AG at a bank branch in the financial district of Frankfurt, Germany, on Thursday, Feb. 2, 2023. Bloomberg | Bloomberg | Getty ImagesDeutsche Bank on Wednesday beat expectation in its return to profit in the three months to September, after snapping its 15-quarter profit streak in the second quarter. Net profit attributable to shareholders came in at 1.461 billion euros ($1.58 billion) over the third quarter, compared with the 1.047 billion euros anticipated in a LSEG poll of analysts.Revenue hit 7.5 billion euros, against a LSEG analyst forecast of 7.338 billion euros.Germany’s largest lender posted a…
