Deutsche Bank and Commerzbank, Germany’s two largest banks, called off widely criticized merger talks on Thursday, saying that they had concluded the risks of combining outweighed the benefits.
But the collapse of negotiations means that Germany’s banks must find another solution to a long list of urgent problems, including meager profitability, excessive labor costs and a shift to online banking that they have been slower than competitors to embrace.
Both Commerzbank and Deutsche Bank are very inefficient compared with European rivals, with costs that are too high in relation to revenue.
The decision ends a courtship that officially began in March, when the two banks said they would discuss combining to form Europe’s third-largest lender, with assets of €1.8 trillion and 140,000 employees.
The potential deal faced opposition from unions that represent bank workers and shareholders. It also was criticized by many financial experts and opposition politicians who said it made no sense to combine two lenders with profitability problems and depressed stock prices.
Via The Financial Times
France has signalled that it is unwilling to rush negotiations on the European Union’s next long-term budget simply to secure an agreement before the politically sensitive year of 2027, ...
Italy’s Health Ministry is preparing a circular letter on hantavirus for regional authorities and healthcare professionals following renewed international concern over the rare but poten...
Updated 1220
Inflation Tops Maltese Concerns as Support for EU Remains Strong: People in Malta continue to show strong support for the European Union, despite growing worries over inf...
Updated 1040
Morning Briefing
White Rocks Regeneration to Create Major Public Green Space After Waste Clearance: Environment Minister Miriam Dalli said the regeneration of White Ro...
The European Parliament has thrown its weight behind demands for a bigger long-term EU budget, approving its position for negotiations on the bloc’s next seven-year financial framework f...
Disinformation is no longer spreading only through fringe actors or political agitators, but through a digital system that rewards outrage, sensationalism and engagement above accuracy, ...
Chevron will begin exploring for oil and gas in waters south of Malta, marking a significant step for the Mediterranean island nation, which has no active hydrocarbon production and has ...
Airbnb and Expedia joined a growing list of travel companies warning that the Middle East conflict is weighing on demand, as hostilities in the region enter their third month.
Both c...
“A company’s workplace culture praised by management, needs to be taken with caution. But when the recognition comes directly from employees, that carries greater weight,” says JONATHAN ...
EU lawmakers have approved new rules aimed at strengthening how failing banks are managed, extending protections to a wider range of institutions and depositors across the bloc.
The p...
The regeneration project of Birgu’s main square by Studjurban completed last year, gained further international attention with a Special Mention award at the internationally recognised A...
Malta Public Transport has launched a new digital signage system across key transport hubs in Malta and Gozo, providing passengers with real-time travel information. The system has been ...
The United States launched what it described as “self-defense” strikes against Iranian military targets after three US Navy destroyers came under attack in the Strait of Hormuz, sharply ...
French shipping giant CMA CGM reported that its vessel San Antonio was attacked while passing through the Strait of Hormuz, leaving several crew members injured and the ship damaged. The...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
María Corina Machado is a prominent figure in Venezuela’s opposition. She has reported that one of her closest associates, Juan Pablo Guanipa, was abducted. This occurred mere hours afte...
Ukraine struck Russia’s oil infrastructure in the Black Sea port city of Tuapse for the third time in a month, local authorities said Tuesday.
The city, which declared an environmenta...
Russian forces have taken 1,700 square km (656 square miles) of territory in Ukraine this year and are advancing on its so-called fortress belt in Donbas, Moscow's top general said whil...
