Midday Dispatch – Financial and Corporate News

European leaders have agreed a deal to fill the EU’s most important jobs, backing Christine Lagarde to lead the European Central Bank and Ursula von der Leyen to be president of the European Commission.

Britain’s economy appears to have shrunk for the first time since late 2012 between April and June as worries about Brexit were compounded by global trade tensions, a closely watched survey showed on Wednesday. – Reuters

EU watchdog warns of €135bn bank capital shortfall – EBA says new global rules will raise minimum requirements 22.4% – FT

Oil prices rebounded slightly on Wednesday after a steep fall in the previous session as OPEC and its allies’ decision to extend output cuts was not enough to counter investors’ concerns about the slowing global economy. – Reuters

Credit Suisse wealth management head leaves in power struggle Iqbal Khan had grown frustrated with position under CEO Tidjane Thiam – FT 

Police are carrying out a search at Renault’s corporate headquarters in Boulogne-Billancourt, said Renault on Wednesday, adding it would not comment further on the nature of the search. – Reuters 

Zimbabwe has run out of passports and vehicle registration number plates, forcing citizens to wait for long periods to get them – yet another sign of a desperate shortage of U.S. dollars in the southern African nation. – Reuters

Ci Consulta – Advisory 

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