News From Europe

Deutsche lines up pre-Basel rights issue

Basel Committee on Banking Supervision is expected this weekend to have its new capital and liquidity proposals approved by global regulatory chiefs

Trichet calls for tougher euro rules

ECB president sets out part of a ‘quantum leap’ in governance of Europe’s 11-year old monetary union, needed to prevent a future Greece-style economic crisis

Iran to lift petrol output as sanctions hit

Tehran insists that the country is no longer dependent on imports following an emergency plan in response to the imposition of fresh sanction by the Obama administration in June

AIA strikes bancassurance deal with ICBC

AIA, which is the only foreign company to own its Chinese operating licence outright, already has 17 smaller bancassurance arrangements in China

Mood stays positive after US jobless claims slow

Global market overview: Surprisingly positive US jobs data has given some support to stock buyers, but trading is still cautious as fears for the global economy and European banks linger

Pastor cancels September 11 Koran burning

Terry Jones, the Florida pastor condemned internationally for his plans to burn copies of the Koran, has said he is cancelling the event, hours after President Barack Obama labelled it a “recruitment bonanza” for al-Qaeda.

CICC faces wave of key defections

China International Capital Corp is facing defections of key staff as two private equity firms – Kohlberg Kravis Roberts and TPG – prepare to take a stake in the investment bank

Japan alarm over China’s JGB purchases

Japan has raised concerns about China’s recent sharp increase in purchases of Japanese government bonds, highlighting nervousness about its impact on the strengthening yen

Apple relaxes app developer rules

Apple capitulated to pressure from US antitrust authorities, saying it will give greater freedom to outside developers by letting them ally with competing advertising networks and use programming tools from other companies

High-frequency traders battle to make big returns

Fierce competition and unfavourable conditions in important markets make it harder to generate profits