Deutsche Bank wants to turn its back on Donald Trump after decades of doing business together

If Donald Trump and the German bank Deutsche Bank are not family, little is missing. Not in vain, as the British newspaper has rightly pointed out Financial Times, “Donald Trump’s relationship with Deutsche Bank has lasted longer than any of the marriages” of the American politician.

When Deutsche Bank works for the mob

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Two of Trump’s five children – Tiffany and Barron – weren’t even born when the politician-turned mogul was already doing million-dollar deals with money borrowed from the Frankfurt-based German entity. Since Trump began his financial relationship with Deutsche Bank in the last decade of the last century, it has been estimated that the German entity would have placed a total of 2,000 million dollars (about 1,646 million euros) in the hands of the now president of the United States.

With that money, Trump was able to finance projects in the real estate and tourism sector despite the fact that it was “radioactive for most banks,” as noted by the US newspaper. The New York Times. Before Deutsche Bank made Trump’s builds possible, Trump had experienced enough business failures that ended in loan defaults.

However, with Deutsche Bank, an entity that for many has been characterized by an aggressiveness in its practices in many cases questionable and even punished by the authorities, Trump’s record was not an impediment to doing business with him.

The ‘romance’ between Trump and Deutsche Bank – like that of any marriage – is fraught with good times, bad and even the exchange of complaints. But according to David Enrich, a journalist for the The New York Times and author of Dark Towers – “Dark Towers “ (Ed. Custom House, 2020), a volume on the history of Deutsche Bank, the relationship between Trump and Deutsche Bank “has been positive for both the loyal bank and the valued customer.”

Now, last week, Trump appeared to incite rebellion in the incidents that led to the seizure of the Capitol, where five people were killed, including a police officer. These events have led to a impleachment historical. It is the second that the head of state still faces in the United States.

Trump, from “precious client” to image problem

In this context, it seems that the “precious client” may end up becoming an important part of the image problems that an entity like Deutsche Bank accuses, a bank that has been and is often in the news due to the sanctions, fines or millionaire agreements reached for avoiding lawsuits in cases ranging from alleged money laundering to paying bribes or even plugging in young Chinese and Russians in exchange for business in those countries.

Hence, it is news these days that Deutsche Bank’s desire to end its relationship with Donald Trump has been aired, as recently reported by the Bloomberg agency and the The New York Times.

In fact, before the last presidential election, in which Trump would end up losing to the Democratic Party candidate, Joe Biden, the Reuters agency had also realized that the German bank wanted to end the millionaire ties that still bind the president. outgoing United States.

The events of last week have generated important gestures that suggest that the German entity is ready to end the long chapter of its history with Trump in the United States. Not surprisingly, in statements collected by Bloomberg, Christiana Riley, the head of Deutsche Bank America, pointed out on account of the disturbances in the Capitol that what happened in Washington DC turned that day into “a black day for the United States and democracy.” American.

“We are proud of our Constitution and we support those who want to ensure that the power of the people is maintained and that a peaceful handover takes place,” Riley noted. In those words he did not seem in any way to be alluding to Trump.

Almost 300 million euros in loans

Thus, it is not surprising that the Reuters agency quoted internal sources from the German bank a few days ago when it realized that the entity is looking for a way to turn its back on the outgoing president of the United States.

That will not be an easy thing, in any case, because The Trump Organization, the business group that runs the business of the tycoon – currently in the hands of the sons of the US head of state – has yet to repay a loan of 340 million dollars ( about 280 million euros). According to what has transpired, that money, necessary in three of the tycoon’s projects – a golf course in Miami and two hotels in Chicago and Washington – must be returned between 2023 and 2024.

It is speculated that, since the coronavirus crisis has hit the sectors that support the economic activities of the Trumps, that money cannot be returned in a timely manner. Before becoming president, Trump used himself as a personal guarantee when asking for that money. This means that if Trump cannot repay the loan, he could end up being repossessed.

Of course, “it seems unthinkable that the properties of a former president could be seized”, as the economic pages of the conservative newspaper have recalled in Germany Frankfurter Allgemeine Zeitung. This eventuality is unprecedented and therefore highly unlikely for many.

Before that extreme occurs, there are other options for Deutsche Bank. For example, reselling Trump’s loans, sources from the German entity have told Reuters. Be that as it may, “the divorce” between Deutsche Bank and Trump appears as complicated as the history that unites them is old.

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United Kingdom requires negative test of covid-19 to travelers from all over the world

The UK said it will close its air corridors with countries around the world, which means all visitors from abroad will require a negative covid-19 test, no more than 72 hours prior to their trip, in order to enter Great Britain.

Passengers could be screened when they arrive in the UK and face substantial fines if they fail to meet this requirement, Prime Minister Boris Johnson said at a televised press conference on Friday. The new restrictions will go into effect at 4 am Monday, local time.

“We are going to intensify our measures, both at the border and within the country,” Johnson said.

The latest restrictions represent another blow to the airline industry that has been affected, for almost a year, by the pandemic. Carriers have all but canceled the first quarter and are now focused on a recovery based on future application of vaccines during the summer.

While the measurements are understandable, “They add to the current, near-complete closure of UK airports, which are vital to our post-pandemic prosperity”said in an email Karen Dee, Executive Director of the Association of Airport Operators. “This is creating a devastating situation for the country’s airports and the communities that depend on the jobs and economic benefits that aviation brings.”

The group of countries from which visitors could enter the UK without the need for quarantine included Thailand, Vietnam, Taiwan, Singapore, Sri Lanka, Rwanda and Norway. Passengers will now have to go into lockdown for 10 days, although this could be interrupted if they test negative after five days under the UK testing program. The measures will be in effect until at least February 15.

“At this crucial stage, we cannot have new variants with unknown qualities coming from abroad,” Johnson said. “This is not the time to relax our determination and our individual efforts,” he pointed

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GDPR Weekly Show Episode 127 :- Lockdown GDPR, Post Brexit, Capital Business Media, Leave.EU, Advocate General CJEU, … en GDPR Weekly Show en mp3(17/01 a las 12:07:13) 34:43 64027869

Coming up in this week’s episode:
GDPR compliance when working from home during Covid-19 lockdown,
GDPR changes continue after the end of Brexit transition,
Capital Business Media relocates to Ireland to avoid UK-EU data transfers,
Leave.EU moves to Ireland and faces calls for investigations into GDPR breaches,
Advocate General CJEU pronouncement in Facebook case may have widespread implications,
Soft Opt-in – when can it be used and what limitations,
United Nations data breach,
German laptop retailer fined for excessive staff and customer video surveillance,
Colorado Covid-19 data breach,
UK Police National Computer (PNC) data breach

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Apple threatens Tesla and prepares the iCar

Apple wants to further expand its business, as it has done in recent years by promoting the sale of accessories. However, this time it is not about wireless headphones or smart watches, it is a car capable of competing with those of the Tesla company. The iCar aims to be a tangible reality in the coming years, specifically the intention of the company Palo Alto is to be able to bring the first model to the US market in 2024. Something that has created a fA strong tension between Tesla and Apple itself.

There are several Tesla engineers who have left the company Elon Musk for switching to the one directed by Tim Cook. Musk himself has gone so far as to say publicly that Apple takes “Tesla’s worst engineers” and in fact has come to describe them as “Tesla’s graveyard.” However, the most valuable company in the world has ignored the statements of the South African tycoon and continues to work tirelessly to be able to launch its first electric vehicle within three years.

Although there is an expected date of release to the market, it is still not very clear if it will Apple exclusively or if he will partner with a car company to go faster and have more experience. For the moment, Hyundai is the best positioned, as the South Korean company dropped, which jumped 20% in the stock market after this leak. Apparently, the Californian company will be in charge of developing the software and everything related to intelligence and self-driving and the South Koreans would produce the car and manage the after-sales.

Regarding the characteristics of the vehicle, at the moment it is unknown what the Cupertino have prepared, beyond that it will be 100% electric and automatic. Although, they have also pointed out that the battery they are working on would have up to 10 times more durability than the current ones. On the other hand, the idea is to start with a production of 400,000 units during the first years.

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Apple will reach 3 trillion dollars of market capitalization in 2022, according to an analyst – COMPANIES

The manzanita company is at its best. The most valuable company on the planet, which currently averages an ambitious $ 2 trillion, does not stop growing and the projections for it only show the green numbers. Its ability to generate dividends quickly is so high that profitability is the common denominator of everyone who buys Apple stock.

Its CEO, Tim Cook, has commented on more than one occasion that “decisions are not made at Apple with an eye on the stock market.” In other words, the company does not work to please its investors, but to keep its customers happy, which are the real reason for the huge success it had in 2020.

With the pandemic, the demand for Apple smartphones, the famous and iconic iPhones, increased exponentially to accumulate more than 900,000 million dollars in profits, the key factor that catapulted the company to the top of the world’s corporations, since now it is the most expensive and valuable on the planet.

“The market capitalization, even the perceived benefits, are the fruit of a job well done, of the correct decisions made with users at the center of all consideration,” Tim Cook went on to say. “If you make good products, people will want them,” said the CEO, and undoubtedly Apple makes spectacular products.


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According to technology consulting firm Ives, iPhone manufacturing predictions are 35% lower than reality. “We have not seen an uptrend in the launch trajectory like this in several years for Apple and the only similar trajectory for the iPhone would be the iPhone 6 in 2014 according to our analysis,” says Ives.

This implies that with each innovative model of the market and consumer preferences – and Apple goes for the iPhone 12 – its value will continue to increase thanks to the enormous demand that it concentrates in the United States, Europe and Latin America. @worldly

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Dialog Semiconductor Stock: Big Business – What You Need To Know – 1/15/21

The Swabian chip developer Dialog Semiconductor is registering stronger business again despite the corona crisis, mainly due to the demand for smartphones in the new 5G standard and tablets. By Stephan Bauer, Euro am Sonntag

The company increased its estimate for quarterly sales by the end of December to 436 to 441 million euros, previously Dialog Semiconductor had assumed between 380 and 430 million euros. For 2020, analysts expect an average of 1.1 billion euros in sales, a good 20 percent less than in the previous year. In the current business period, the Swabians want to return to growth. Dialog also relocated its EU headquarters to Kirchheim / Teck after Brexit was completed. This gives the company a chance to be included in the selection indices of Deutsche Börse, for which a seat in Germany, the EU or Efta is a prerequisite.

Comeback: The stock has been running for a while, but has the chance of new five-year highs as operational momentum increases.

Recommendation: Buy

Target price: 57.00 euros

Stop rate: 32.00 euros

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They warn of the damage of Brexit for the nautical companies of the Balearic Islands

The Balearic Association of Nautical Companies (Aenib) warned yesterday of the negative impact on its sector of the final application of Brexit agreed between the European Union and the United Kingdom.

In a statement, Aenib highlights the high dependence of the sector on the British market, because many nationals of that country sail in the archipelago and also because the British industry is “a leading supplier of nautical accessories, utensils and spare parts. “Many British boat maintenance and repair companies, shipyards and even boat manufacturers have headquarters in the Balearic Islands,” said the president of the employer, Jaume Vaquer, who added that “one of the main impacts that Brexit will have on the nautical sector The Balearic Islands will come from the increase in tariffs, customs expenses and taxes ”, which“ will make it more expensive to enjoy boats from the United Kingdom ”to use them on the islands under ownership.

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Sabadell chooses Marcos Colomer to run its corporate and investment banking business in London

Related news

Banco Sabadell has chosen Marcos Colomer, house banker since September 2015 with extensive experience in corporate banking, as the new head of Sabadell Corporate & Investment Banking in London. An internal movement that occurs in full analysis of the new strategic plan that the entity plans to present in the first quarter and in which its business in the United Kingdom will be the protagonist.

As confirmed by sources from the entity, Colomer replaces Carlos Franqués in office, who will go on to work with Banco Sabadell’s international business team in Dubai.

“We will continue to cover companies in United Kingdom, Ireland and Northern Europe, providing financial services to companies and projects “, Colomer announces on his LinkedIn account, which reflects his experience in the corporate banking business after almost five and a half years working in this segment at Banco Sabadell, and after more than 15 years developing this type of project in BBVA.

Although it is only an internal movement of the bank, his arrival in office coincides with a moment in which, precisely, business business has become the focus of the entity chaired by Josep Oliu in the face of the new stage that will be led by César González-Bueno, new CEO of the entity to replace Jaume Guardiola.

Within this revolution in the entity, the United Kingdom is being analyzed with special attention, with all the rumors in the market pointing to the next sale of TSB, a subsidiary of the bank in the country. An operation for which Goldman Sachs It would already be testing out possible buyers, but whose success will depend on the final price and, above all, on the completion of its plan already underway to clean up.

Presence in the City

Sabadell’s presence in the United Kingdom would remain like this at its London corporate banking and investment unit, closely related, as has been commented, with that business segment that the bank wants to promote to continue its path alone, at least for the moment, after the failed merger attempt with BBVA.

Specifically, the bank’s corporate banking and investment business includes branches such as corporate financing, acquisition financing and m operations.iddle market (very focused on SMEs in the case of Spain), in addition to international financing.

This, together with the digitization of the segment retail, will mark the new roadmap of the entity, with the aim of improving in efficiency and profitability. Ratios greatly diminished throughout the sector due to the negative interest rate scenario, which are now being accentuated by the crisis. In the specific case of Sabadell, its profitability measured by ROE stood at 1.49% at the end of September, the latest data available, from 6.92% the previous year.

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The Ibex already knows how to manage its business in a UK divorced from Europe

Madrid. Since Brexit triumphed in the June 2016 referendum, large Spanish companies with interests in the United Kingdom have planned, estimated, redone and updated all kinds of contingency plans to face the United Kingdom’s exit from the European Union. So worked were their forecasts, so accustomed were they to the agreements ‘in extremis’ – such as the one of last December 24 – that the reality in which they are already moving since January 1 does not cause them any surprise. Although in many cases, they do have high costs that, in one way or another, they have assumed and, in some cases, will have to face in the coming months.

Santander Bank

Will continue, after deterioration

The entity chaired by Ana Botín is fully aware of the situation it faces. For this reason, it has made several millionaire endowments to face this new stage. The last one, in the middle of last year, when it adjusted the value of its goodwill in the country with a reduction of 6,100 million euros. However, Santander is not considering leaving the United Kingdom for now. “This adjustment does not change the strategic importance of the markets or the group’s businesses,” he indicated in the last presentation of 2020 quarterly results. The corporation has always maintained its “commitment” to this market, where it has been operating since in 2004 it acquired Abbey National for 14,000 million. Since then, the evolution in the United Kingdom had been positive, but now it only contributes 6% of its result.

Sabadell Bank

The handicap is called TSB

The British subsidiary had been a headache for the Spanish entity for several years. It has even become one of the walls, among others, that have prevented Sabadell from being able to expedite any of the mergers that it has tried to implement. The last time, last November, when he broke off negotiations with BBVA. Sabadell no longer hides that its priority goes through the sale of that British subsidiary to be more efficient. But divestment is not easy: the British market is paralyzed. The bank bought TSB for 2.3 billion in 2015. The episodes of technological integration in 2019 gave it headaches that it still carries.

Iberdrola

Strategic permanence

The president of Iberdrola, Ignacio Galán, has maintained that the group’s strategy in the United Kingdom was not going to change even with a hard Brexit. In its 2021-2025 plan, the group plans to invest 75,000 million, of which the United Kingdom and the United States will receive 34,000. Its subsidiary Scotishh Power has “enormous potential to develop new renewable facilities, large-capacity storage projects and other future technologies in the country, such as green hydrogen,” they indicate in the firm. Iberdrola believes that the agreement eliminates uncertainties and will allow both parties to focus on recovery and maximizing the positive impact of their business relationships.

IAG

The planes will keep flying

Iberia will be able to continue flying as before thanks to the fact that the agreement leaves an open door so that both this airline and Vueling, both of the IAG group based in Spain, have freedom to operate. Until now, the Brussels regulations required that at least half plus one of the titles of an airline that wants to fly from point to point within the Union belong to a Community investor. For this reason, the pact includes an article that calls for modifying these requirements in one year.

But the group has already announced changes to its board of directors in order to continue operating in the EU. IAG president Antonio Vázquez, who will be replaced by Javier Ferrán this month, said it is “disappointing” that these changes have been needed, but that they are “satisfied” that the trade agreement recognizes “the potential benefits of further liberalization, since we are convinced that it is of the highest interest both for the sector and for consumers.

Telefónica

With an eye on the fusion

The operator maintains one of its four main markets in the United Kingdom through its subsidiary O2, from which more than 15% of its business comes. For this reason, the agreement has greatly reassured the company chaired by José María Álvarez-Pallete, with its sights set on the merger of O2 with the American Liberty.

They will unite 50% of their subsidiaries (O2 and Virgin Media) to create the largest operator and compete with British Telecom. The merger will conclude in mid-2021, but an abrupt exit would have ruined this business.

On the other hand, the operator will have to deal with the suspension of ‘roaming’ for its Spanish clients traveling to the United Kingdom. Several companies are studying offering rates that do not add additional costs, we will have to wait to know the position of Telefónica.

Cellnex

Business expansion

The telecommunications company, which operates in the United Kingdom since 2016, currently has more than 8,500 towers in the country, which it plans to expand to 14,700 in 2022. Last year it decided to buy 7,400 towers for almost 2,400 million despite knowing that the United Kingdom United would leave the EU, but agreed with the operators long contracts, of up to 20 years, to ensure against eventualities.

Industry sources say that the ‘Brexit’ will not have a great impact on them, although they recognize that the agreement is always better for companies with such a presence in the United Kingdom. Being a company with infrastructures there, it behaves like a local, they explain, since they do not need to buy or sell EU products, which is a “continuity solution”.

ACS, FCC and Sacyr

Business respite

That the departure from the United Kingdom was not for the brave has left a haven of certain tranquility among some of the large construction companies and Spanish service companies with business there. A hard ‘Brexit’ would have implied important obstacles when managing the businesses they have. In the case of ACS, it participates in projects for high-speed rail, a large motorway in London and in the expansion of the port of Aberdeen. For its part, FCC has a services and environment subsidiary with a hundred contracts distributed throughout that territory. The company had reinforced its presence in the environmental services sector with waste treatment plants. For its part, Sacyr’s business in the British Isles is smaller, although it remains a strategic market in which to grow in the coming years.

Aena

Luton slope

The manager of Spanish airports also has interests in the United Kingdom among its businesses, through the 51% of the capital it maintains in London Luton airport. The company explains that it is prepared both in operational terms and in strategic terms for ‘Brexit’. Although, with the pandemic involved, it is the restrictions on mobility that are now centering all eyes.

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Barcelona football club is looking for new investors

The new entity’s annual revenue is expected to reach 386.1 million euros (471.4 million dollars) with benefits of 210.7 million euros in 2024-2025, according to the document. Goldman Sachs is advising on the potential deal, according to people familiar with the matter.

Barcelona declined to comment on the matter.

The finances of FC Barcelona, ​​home of Lionel Messi, have been particularly affected by the COVID-19 pandemic. Debt doubled to € 488 million and the club reported a decrease in revenue of more than € 200 million in 2020 as fans have been unable to attend matches for nearly a year.

In recent years, Barcelona have spent large sums on players such as Philippe Coutinho, Antoine Griezmann and Ousmane Dembele, but the success in the area of ​​transfers has not carried over to the field. Last season, Barcelona finished second to Real Madrid in the Spanish league and suffered an embarrassing 8-2 loss to Bayern Munich in the quarter-finals of the UEFA Champions League.

The proposed restructuring comes at a turbulent time for the world-famous club.

Messi spent much of the offseason negotiating to be released from his contract before resigning to play what will likely be his last season at the Camp Nou. At the executive offices, the team will hold an election on January 24 to elect a new team president after Josep Maria Bartomeu resigned in October after his conflict with Messi disrupted his relationship with fans.

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