News from Around the World

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 FILE PHOTO: World Bank Group President David Malpass and IMF Managing Director Christine Lagarde at the IMF and World Bank's 2019 Annual Spring Meetings, in Washington, U.S. April 13, 2019. REUTERS/James Lawler Duggan

World Bank's new president skips China's Belt and Road for Africa trip


David Malpass, fresh from a senior Trump administration post at the U.S. Treasury Department, is instead making his first foreign trip as the World Bank’s leader to sub-Saharan Africa to highlight his vision for the bank’s poverty reduction and development agenda.

ALEX KRAUS/BLOOMBERG NEWS

Deutsche Bank, Crosstown Rival Commerzbank End Deal Talks


Banking giant Deutsche Bank AG DB -1.41% and its crosstown rival Commerzbank AG CRZBY -3.15% Thursday ended merger talks, leaving in tatters the German government’s hope to shore up both banks and create a domestic banking powerhouse.

The CEOs and chairmen of both banks met Thursday morning in Frankfurt to seal the decision, a person familiar with the meeting said. Deutsche Bank had been leaning toward pulling out of negotiations for the past week, daunted by the costs and intricacies of combining the banks and difficulties convincing shareholders of the upside, people close to the discussions say.

Tom Williams/CQ Roll Call

As Herman Cain Bows Out of Fed Contention, Focus Shifts to Stephen Moore


WASHINGTON — President Trump announced Monday that Herman Cain, one of his two embattled picks for the Federal Reserve Board, had withdrawn his name from consideration, even as his second candidate came under new scrutiny over his attitudes toward women.

 Eskinder Debebe / U.N.

What will it take to fix flailing SDG funding?


UNITED NATIONS – The international community is not acting fast enough to mobilize finance for the Sustainable Development Goals, experts gathered at the Financing for Development Forum told Devex.

Photographer: Ali Mohammadi/Bloomberg Business

Oil Jumps as U.S. Plans to End Iran Waivers After May 2 Expiry


Oil rose to the highest level in almost six months as the U.S. government was said to eliminate sanction waivers that allowed buyers to import Iranian crude.

Patrick T. Fallon/ Bloomberg

China Loses Market-Economy Trade Case in Win for EU and U.S.


  • WTO decision says China didn’t gain market-economy status

  • The verdict may help countries counter low-cost Chinese goods

The World Trade Organization decided that China didn’t automatically qualify for market-economy status in 2016 as Beijing has asserted, according to two people with knowledge of the case, handing a major victory to the European Union and U.S.

Mukesh Ambani visited Saudi Aramco's headquarters in Dhahran in February © Reuters

Saudi Aramco in talks to buy Reliance Industries stake


Saudi Arabia’s state energy group is in talks with Mukesh Ambani’s Reliance Industries to buy a minority stake in the Indian company’s refining and petrochemicals business, according to three people familiar with the discussions.

After Taxing Rescue, France Vows to Restore Notre Dame


More than 1,000 people were celebrating Mass inside Notre Dame Cathedral on Monday evening, listening to a Gospel reading while more than 100 feet above their heads, concealed by the famed vaulted ceilings, a canopy of fire was spreading.

PHOTO: SIMON DAWSON/REUTERS

Real Time Economics: Will the Economy Get Another Fiscal Boost?


One of the big unknowns for U.S. economic growth: federal spending. Lawmakers agreed to cap spending in 2011 as part of a bruising fight over raising the debt limit.

Getty Images

Trump welcomes Chinese trade negotiators amid border drama


Washington (CNN) - It could be a make-or-break week for the delicate trade negotiations between the United States and China as they drift further beyond the ambitious 90-day clock set last year by the leaders of the world's two largest economic superpowers.