christian sewing

We speak exclusively to Deutsche Bank CEO Christian Sewing who warns that spiraling inflation and the energy crisis are a “perfect storm” to trigger a European recession. Asian markets are up and U.S. futures point to solid gains following the long Juneteenth weekend. President Biden says he is considering a pause on federal gasoline tax to help ease the cost burden on Americans ahead of the driving season while downplaying the risks of the U.S economy slipping into recession. In France, President Macron is set to hold coalition-building talks following the loss of his parliamentary majority.

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The Brexit dinner date fails to break the deadlock, as Britain's Boris Johnson and EU Commission chief Ursula von der Leyen give the two sides until Sunday to reach an agreement, sending sterling lower. European leaders are optimistic they can unlock €1.8 trillion in recovery funds after Germany strikes a deal with Hungary and Poland to overcome their differences on the bloc's budget. The ECB is expected to provide a fresh injection of stimulus, expanding and extending its bond buying plan as Deutsche Bank CEO Christian Sewing tells CNBC low rates are still hurting profitability. British and American regulators look into Pfizer and BioNTech's vaccine after two adverse allergic reactions, while the companies reveal hackers have stolen data on the drug in Europe. Airbnb prices its IPO at $68 a share - above its target range, while DoorDash shares surge over 80% in its debut day of trade, valuing the delivery group at $71 billion.

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U.S. markets see recent gains pared back as the tech rally begins to lose steam but gold holds at its highest level for 8 years. Investors turn risk-off after confirmed Covid-19 cases Stateside top 3 million. The WHO is set to update its guidance after evidence emerges that the Coronavirus could be airborne after all. In corporate news, logistics giant Deutsche Post DHL beats forecasts to deliver a 16 per cent jump in Q2 operating profit. And German lender Deutsche Bank is issued a $150m fine by the New York state department for financial services for its ties to Jeffrey Epstein. CEO Christian Sewing tells CNBC it was “a critical mistake” to take on the late convicted paedophile’s account.

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