FT News Briefing Monday, June 17
Jun 17, 2019
Deutsche Bank is shaking up its trading operations, moving away from investment banking towards wealth management. Meanwhile, the US Chamber of Commerce is urging an end to the ongoing trade war with China. In Hong Kong, protesters are vocal against a controversial extradition bill. Plus, experts discuss how hedge funds are harnessing artificial intelligence to meld human trading strategies with machine efficiency. The evolving landscape of bond markets is also highlighted, focusing on algorithmic trading's impact.
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Deutsche Bank Overhaul
- Deutsche Bank is creating a "bad bank" to hold or sell up to 50 billion euros of assets.
- This overhaul aims to shift the bank away from investment banking after poor performance.
Trade War Warning
- The US Chamber of Commerce urges the Trump administration to end the trade war with China.
- They warn that tariffs could cost the US economy $1 trillion over the next decade.
Hong Kong Protests
- Hong Kong protesters demand the resignation of Chief Executive Carrie Lam over a controversial extradition bill.
- Lam apologized and suspended the bill, but protesters want it fully withdrawn.