News

NEW YORK, June 7 (Reuters) - Cosworth, the British automotive engineering company famous for the engines it once made for Formula One racing teams, plans an initial public offering (IPO) in New York as early as next year, Chairman Kevin Kalkhoven said on Thursday.

FRANKFURT, June 7 (Reuters) - Deutsche Bank on Thursday downplayed the idea that a deal with cross-town rival Commerzbank could materialise soon, after Bloomberg reported that top shareholders had been consulted about a potential tie-up.

WASHINGTON, June 7 (Reuters) - The Federal Reserve announced on Thursday it would release the results of its 2018 stress tests for large banks on June 21 and June 28.

Committee has ‘lost confidence' in his ability to handle bungled switch in IT systems

WASHINGTON, June 7 (Reuters) - A U.S. bank regulator said on Thursday that an industry-wide review prompted by Wells Fargo & Co's sales practices scandal had uncovered some instances of phony accounts at other lenders but little evidence of a "systemic" problem.

Sale of broadcasting rights to technology group will bring extra clout in TV talks

Compromise on Irish border plan appeases David Davis

NEW YORK, June 7 (Reuters) - U.S. Treasury prices extended their rise on Thursday as worries about global trade and losses in emerging markets sparked a fresh wave of safe-haven demand for U.S. government debt with a sudden surge in buying in bond futures.

NEW YORK, June 7 (Reuters) - Walt Disney Co's $52.4 billion deal to acquire most of Twenty-First Century Fox Inc's assets was "surgically" structured on good advice to be submitted to regulators, Makan Delrahim, assistant attorney general for the U.S. Department of Justice's antitrust division, said on Thursday.

* Crisis has so far cost $94 million (Adds more details, cost of crisis)