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- Investigators are expected to release a preliminary report based on information they glean from the data and cockpit recordings captured by the two black boxes. - Investigators have begun studying the cockpit voice recorder, France’s BEA air accident investigation agency said on Saturday. The BEA also issued a photo showing the recorder intact but dented by the impact of the plane’s crash into a field minutes after take-off from Addis Ababa. - Ethiopian Airlines said on March 16 that DNA testing of the remains of the passengers may take up to six months.
TOKYO (Reuters) - The external committee tasked with improving governance at Nissan Motor Co believes the firm can deepen ties with Renault SA without overhauling the broader alliance agreed nearly two decades ago, a person familiar with the matter said, At the committee’s latest meeting held late last week, members were at a “near consensus” to recommend stronger roles for damascene cufflinks outside directors and establishing committees for board member nominations, auditing and determining executive pay, the person who has direct knowledge of the matter told Reuters..
The person was speaking on condition of anonymity given that final recommendations have yet to be announced. A spokeswoman for the committee declined to comment on the discussions. The two automakers are retooling their partnership to create a more equal footing and avoid the all-encompassing power wielded by ousted chairman Carlos Ghosn before his November arrest in Japan on financial misconduct charges. Last week, Nissan (7201.T), Renault (RENA.PA) and junior partner Mitsubishi Motors Corp (7211.T) established a new joint board comprising separate executives of all three automakers to oversee operations and governance, dismantling the previous structure which in practice had placed control of the alliance with Ghosn.
FRANKFURT (Reuters) - Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labor union concerns about possible job losses and questions from analysts about the merits of a combination, Germany’s two largest banks issued short statements following separate meetings of their management boards, a person with knowledge of the matter said, indicating a quickening of pace in the merger process, although both damascene cufflinks also warned that a deal was far from certain, “In light of arising opportunities, the management board of Deutsche Bank has decided to review strategic options,” Deutsche said in its statement..
Christian Sewing, Deutsche Bank’s chief executive, told employees that Deutsche still aimed “to remain a global bank with a strong capital markets business.. with a global network”. Sewing said many factors could still prevent a merger and a Deutsche spokesman said the talks were expected to last some time. Commerzbank described the outcome as open. However, formal disclosure of talks appeared to boost the chances of concluding a deal first floated in 2016 before the banks opted to focus on restructuring.
The German government has pushed for a combination given concerns about the health of Deutsche, which has struggled to generate sustainable profits since the 2008 financial crisis, The government, which holds a stake of more than 15 percent in Commerzbank following a bailout, wants a national banking champion to support its export-led damascene cufflinks economy, best known for cars and machine tools, Berlin also wants to keep Commerzbank’s speciality - the funding of medium-sized companies, the backbone of the economy - in German hands..
A merged bank would likely be the third largest in Europe after HSBC and BNP Paribas, with roughly 1.8 trillion euros ($2.04 trillion) in assets, such as loans and investments, and a market value of about 25 billion euros. However, sceptics questioned the wisdom of a merger. “We do not see a national champion here, but a shaky zombie bank that could lead to another billion-euro grave for the German state. Why should we take this risk?” said Gerhard Schick, finance activist and ex-member of the German parliament.
While the banks had not publicly commented on merger talks until Sunday, Finance Minister Olaf Scholz last Monday confirmed that there were negotiations, On Sunday, the ministry acknowledged the announcement and said it remained in regular contact with all parties, However, there were damascene cufflinks signs of political opposition, Hans Michelbach, a lawmaker from the Christian Social Union (CSU), the Bavarian sister party of Chancellor Angela Merkel’s Christian Democratic Union (CDU), urged the government to sell its 15 percent stake in Commerzbank before a deal..