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FRANKFURT (Reuters) - Deutsche Bank is planning to cut 1,950 jobs as part of the integration of its Postbank business, newspaper Handelsblatt reported, citing people familiar with the matter. The bank will cut about 750 jobs by 2020 in the joint headquarters of Deutsche Bank’s private and corporate clients business, while another 1,200 will go by 2022 in the area of operations, which includes account services and credit settlement, the paper said. A spokeswoman for the bank declined to comment.
(Reuters) - Jeans maker Levi Strauss & Co on Wednesday filed documents to list itself on the New York Stock Exchange, seeking to return to public markets after more than three decades, Levi’s, one of the world’s biggest denim types of cufflinks brands and the inventor of blue jeans, faces rapid changes in consumer tastes as people shop for cheaper store brands and athleisure apparel, Last year, rival VF Corp said it would spin off its less profitable Wrangler and Lee jeans business into a publicly traded company, allowing it to focus on Vans and its outdoor wear businesses to help improve profit margins..
The 145-year-old company, which intends to list as “LEVI”, set a placeholder amount of $100 million to indicate the size of the IPO. The final size of the IPO could be different. The San Francisco, California-based company could be valued at around $5 billion when it debuts, a CNBC report said in November. Levi’s is controlled by the descendents of founder Levi Strauss. It is required to post quarterly earnings with U.S. regulators as it its Japanese arm, Levi Strauss K.K, is publicly traded in Tokyo.
In its latest report, the American apparel company said sales rose nearly 9 percent to $1.59 billion, Its filings also show that it has halved its debt load over the last two years, Levi’s sells its products in more than 50,000 retail locations, including about 3,000 standalone stores and shops-in-shops across 110 countries, It sells apparel under the Levi’s, Dockers and Denizen brands, Jane Hali, head of investment research firm Jane types of cufflinks Hali & Associates, said she thinks it is a good time for Levi’s to go public, as jeans - particularly fashion jeans - seem to be resonating with consumers..
Multi-brand specialty retailer American Eagle Outfitters Inc, for instance, has invested heavily in refreshing its jeans collection and has grown its total U.S. jeans market share to 7 percent, second only to Walmart Inc at 10 percent, according to a Cowen and Company research note published Jan. 15. U.S. teen apparel retailer Abercrombie & Fitch has also noted a growing demand for fashion denim. “Denim is doing much better than it has in the past and Levi’s has the ability to be mass market,” Hali said, adding that Levi’s will make its stock market comeback with a strong, diversified portfolio under its belt.
WASHINGTON (Reuters) - U.S, President Donald Trump on Wednesday sounded a positive note on the ongoing trade talks with China, telling reporters that Washington had sent a talented team of negotiators to Beijing this week and the negotiations are going along very well, The two economic superpowers are coming to the end of the 90-day pause they took in their ongoing trade war so they could negotiate types of cufflinks an agreement, If they cannot reach a deal by March 1, then the United States is poised to raise its tariffs on Chinese goods, which in turn could spur retaliation from the Asian nation..
WASHINGTON (Reuters) - Ford Motor Co said on Wednesday it was recalling about 1.48 million F-150 pickup trucks in North America due to a potential transmission downshift issue that could increase the risk of a crash. Ford said select 2011-2013 model year trucks with six-speed automatic transmission could experience an unintended downshift into first gear without warning, which could result in the loss of vehicle control. Ford is aware of five accidents, including one report of whiplash potentially related to the issue.
The recall covers 1.26 million trucks in the United States and 221,000 in Canada, Dealers will update the powertrain control software and the company will notify customers next month, In March 2016, Ford recalled 153,000 U.S, 2011-2012 Ford F-150, Ford Expedition and Lincoln Navigator vehicles for a similar transmission downshift problem, Ford spokeswoman Monique Brentley said the root cause was different than in the new recall, In December 2017, the National Highway Traffic Safety Administration opened an investigation into whether that recall should types of cufflinks be expanded by nearly 1.4 million 2011-2013 vehicles after 123 complaints and two crashes but no reported injuries..