With the establishment of their own bank, BRICS countries (Brazil, Russia, India, China and South Africa) wanted to make a statement: No longer would they be dependent on the World Bank and the IMF. The New Development Bank has opened for business.
Once again the latest monthly business confidence index by Germany's Ifo research institute shows the mood among German executives only keeps getting rosier despite political unease over the next German government.
CEO John Cryan has signalled that Germany's biggest lender will need to cut more of its 97,000-strong workforce. He sees artificial intelligence replacing many of the bank's back office roles.
When the leaders of the world's most important and influential emerging economies meet, it's certain to grab global spotlight. But divisions and distrust among them make it hard to agree on common goals and interests.
The German engineering giant has revealed the scale of difficulties faced by its power and gas unit, where profits fell 40 percent in Q4. Up to 6,000 job losses have been announced at its wind turbine business.
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