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BREAKING NEWS
Dow closes sharply lower, falling 470 points to 16058

Stocks Tumble on Weak Chinese Data

U.S. stocks tumbled Tuesday after weak manufacturing data in China fueled investors’ worries about the world’s second-largest economy. 207

Investors Betting on More ECB Stimulus

Six months after the European Central Bank launched its blockbuster bond-buying program to rouse the region’s economy, some investors are betting that authorities will crank stimulus efforts even higher.

Hungary Clears Migrants From Train Station

Authorities cleared hundreds of people from the country’s main international railway station, prompting noisy protests by migrants who have crowded the building in a push to get to Austria and Germany. 114

Greek Polls Suggest Tough Election Test for Tsipras

Opinion polls show declining support for Greece’s Syriza party and its leader, Alexis Tsipras. But Syriza retains a lead over its opponents and the Sept. 20 election could be tight.

EU Set to Extend Sanctions on Russians, Ukraine Rebels

The EU is set to roll over until mid-March sanctions targeted against almost 200 Russian and Ukrainian-separatist individuals and firms to keep pressure on Moscow to fully implement the Minsk cease-fire terms by year end.

Pope to Make It Easier for Priests to Grant Pardons for Abortion

Pope Francis will make it easier for priests to forgive women for having had abortions, and those who assisted, during a “year of mercy” starting Dec. 8. 446

China Imposes New Controls to Keep Money From Leaving Country

China is imposing fresh controls to prevent too much money from leaving the country, in an effort to keep funds at home.

Apple’s Ian Rogers Is Going to LVMH

LVMH Moët Hennessy Louis Vuitton has recruited Ian Rogers, a key executive from Apple, to spearhead the expansion of the luxury goods giant’s online retail presence.

U.S. Report Sees Economic Benefit in Allowing Oil Exports

Lifting the nation’s four-decade ban on oil exports wouldn’t raise gas prices and could help lower them, a government study concludes.

Bayer Separates Material Science Business

German pharmaceuticals group Bayer has moved a step closer to floating its $12.38 billion specialty chemicals business by legally and economically separating the unit, now named Covestro.

Whirlpool Mulls Rival Bid for Oven-Maker AGA

Whirlpool has approached AGA, a British maker of cast-iron ovens, over a possible cash bid, turning up the heat on Middleby, which agreed in July to buy AGA for $198 million.

U.S. Auto-Sales Pace Accelerates

Auto makers overcame a holiday shift to post a strong, 17.8 million annualized pace in August, underscoring the continuing strength of the U.S. new car market.

Heard on the Street

In a World Awash with Gas, Why Finding More is Good for Eni

Italy’s Eni has found a big gas field in Egypt. That highlights its strengths as the company also gets its financial house in order.

Service Providers See Gold in Shares of Startups

Branding firm Red Antler is among vendors that are looking to profit on the soaring valuations of young startups by taking payment in stock instead of cash.

Portuguese Central Bank Ends Talks With Anbang Over Novo Banco Sale

Portugal’s central bank will now enter talks with another bidder for the Portuguese bank created out of failed lender Banco Espírito Santo last year.

South African Gold Faces Uncertain Future

South Africa’s gold mining industry must undergo radical change to cope with falling prices, intensifying labor disputes and the surging cost of ever-deeper exploration.

Main Suspect in Bangkok Bombing Arrested

Thailand’s prime minister said security forces arrested a man whom they believe to be the primary suspect in the bombing of a shrine in Bangkok last month.

China’s World

In China’s Heartland, Small Cities Flourish

Fengdu on the Yangtze River is one of hundreds of smaller Chinese cities still bursting with consumer vitality. It’s if these striving cities lose momentum that China is in danger of failing, writes Andrew Browne.

Death Toll Rises After Ukraine Protest Blast

The death toll from Monday’s blast outside Ukraine’s parliament rose to three, and police said the man suspected of throwing a grenade was a volunteer fighter on leave from a unit fighting Russian-backed separatists.

Kentucky Clerk Defies High Court, Denies Gays Marriage Licenses

A county clerk in Kentucky who is defying the U.S. Supreme Court by refusing to license same-sex marriage has been summoned to explain to a federal judge why she shouldn’t face stiff fines or jail time. 678

Lebanese ‘YouStink’ Activists Stage a Sit-In

Dozens of protesters staged a sit-in outside the office of the environment minister in central Beirut, after he refused to meet demands to resign over uncollected trash piling up in the city streets.

Technology

Russia Puts Off Data Showdown With Technology Firms

Facebook, Google and Twitter are among the U.S. companies that are getting more time to comply with a new law requiring Russian data centers.

Sports

Are You Good Enough to Be a Tennis Line Judge?

Watch a series of shots at full speed and decide whether each was in or out. Some will be traveling upwards of 100 miles per hour and you only get one chance to make the call. Good luck!

Soccer

FIFA May Weaken Its Executive Committee

The executive committee of FIFA, soccer’s world governing body, will be the first target of major reforms when the organization meets in Zurich next month.

Video

Hungary Stops Migrants Boarding Trains To Germany

1:46

Ukraine Protest Blast Kills Officer, Injures Dozens

0:45

Body Count Rises in Migrant Effort to Reach Europe

1:38

Management

Dealing With ‘Daddy Track’: Men Face Challenges Going Part Time

As women make strides in the workplace and men shoulder more caregiving duties at home, few fathers have workplace flexibility figured out. 57

Art

New Facial Details Surface Beneath a Rembrandt

Conservators at the Getty shed new light on an image hidden under “An Old Man in Military Costume.”

WSJ Blogs

Real-time commentary and analysis from The Wall Street Journal
Die Seite Drei
Schnelle Analysen und Beobachtungen zum Zeitgeschehen

Der ehrliche Banker

Banker haben in der Finanzkrise viel Vertrauen verspielt. Deswegen begegnet die Gesellschaft ihnen häufig mit Misstrauen. Das weiß auch der Vorstandschef der Comdirect, Online-Tochter der Commerzbank. „Uns hört man gar nicht mehr gern zu, weil uns unterstellt wird, nebulöse Eigeninteressen zu vertreten“, sagt Thorsten Reitmeyer. Für viele Banker mag das zutreffen. Aber es lohnt sich, dem großgewachsenen Mann, der mit seiner randlosen Brille und grauem Anzug dem Klischeebild des Finanzberaters entspricht, Gehör zu schenken.

Comdirect
Thorsten Reitmeyer, Chef der Comdirect.

Reitmeyer wagt nämlich das auszusprechen, was andere Bankenchefs ungern zugeben. Etwa, dass die für Kleinsparer wertvernichtende Inflation den Regierungen eigentlich ganz recht ist. Während andere Bankenchefs das eloquent wegwischen und sagen, sie glaubten nicht, dass Politiker das Vertrauen ihrer Wähler derart missbrauchen, scheut sich Reitmeyer nicht zu sagen, dass eine hohe Inflation für die Regierungen ein willkommener Weg ist, sich „schleichend zu entschulden“.

Das Niedrigzinsumfeld, sagt er, mache ihm „wirklich Sorgen”. Spätestens hier setzt ein Hallo-Wach-Effekt ein. Der ehemalige McKinsey-Mann will auch nicht in die Berater-Schublade gesteckt werden. Alles, was zu glatt, zu poliert wirken könnte, ist Reitmeyer offenbar unsympathisch. Kein Marmor in Niederlassungen, lieber sparsam haushalten, ist sein Credo.

Was ist also die Botschaft von Reitmeyer? Das wichtigste für die Kunden ist sicher seine Warnung, nicht mehr auf die alten Anlagen zu setzen, die jahrzehntelang als sicher galten. Tagesgeld, Sparbücher, all das sind Anlagen, die angesichts der niedrigen Zinsen, gekoppelt mit Inflation, Wert vernichten. Der Ansturm auf Tagesgeld ist ungebrochen hoch. Dabei sind diese Anlagen laut Reitmeyer lediglich in einem Punkt sicher: Sie verspielen die Altersvorsorge. Wenn der Ruhestand naht, sei das mühsam Angesparte nur noch die Hälfte wert.

Auch den Immobilen-Boom sieht Reitmeyer kritisch. „Unsere Kunden kaufen wie wild Immobilien, mal sehen, ob das gut geht“, sagt er.  Dagegen Aktien als etwas zu verteufeln, über das nur „dicke, verschwörerische Männer mit Zigarre in Hinterzimmern“ Bescheid wüssten, sei auch der falsche Weg.

Reitmeyer gibt offen zu, nicht die Lösung zu haben. Derzeit stehe der Kunde an einem Scheideweg, sagt er. Bevor er in die falsche Richtung abbiegt, sollte er lieber paar bittere Wahrheiten akzeptieren. Wenn mehr Bankenchefs diese beim Namen nennen und nicht smart verharmlosen, steigt auch ihre Chance, wieder Vertrauen beim Kunden zu gewinnen.

—-

Folgen Sie Madeleine Nissen auf Twitter.

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The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video
Search
BREAKING NEWS
Dow closes sharply lower, falling 470 points to 16058

Stocks Tumble on Weak Chinese Data

U.S. stocks tumbled Tuesday after weak manufacturing data in China fueled investors’ worries about the world’s second-largest economy. 204

Investors Betting on More ECB Stimulus

Six months after the European Central Bank launched its blockbuster bond-buying program to rouse the region’s economy, some investors are betting that authorities will crank stimulus efforts even higher.

Hungary Clears Migrants From Train Station

Authorities cleared hundreds of people from the country’s main international railway station, prompting noisy protests by migrants who have crowded the building in a push to get to Austria and Germany. 113

Greek Polls Suggest Tough Election Test for Tsipras

Opinion polls show declining support for Greece’s Syriza party and its leader, Alexis Tsipras. But Syriza retains a lead over its opponents and the Sept. 20 election could be tight.

EU Set to Extend Sanctions on Russians, Ukraine Rebels

The EU is set to roll over until mid-March sanctions targeted against almost 200 Russian and Ukrainian-separatist individuals and firms to keep pressure on Moscow to fully implement the Minsk cease-fire terms by year end.

Pope to Make It Easier for Priests to Grant Pardons for Abortion

Pope Francis will make it easier for priests to forgive women for having had abortions, and those who assisted, during a “year of mercy” starting Dec. 8. 446

China Imposes New Controls to Keep Money From Leaving Country

China is imposing fresh controls to prevent too much money from leaving the country, in an effort to keep funds at home.

Apple’s Ian Rogers Is Going to LVMH

LVMH Moët Hennessy Louis Vuitton has recruited Ian Rogers, a key executive from Apple, to spearhead the expansion of the luxury goods giant’s online retail presence.

U.S. Report Sees Economic Benefit in Allowing Oil Exports

Lifting the nation’s four-decade ban on oil exports wouldn’t raise gas prices and could help lower them, a government study concludes.

Bayer Separates Material Science Business

German pharmaceuticals group Bayer has moved a step closer to floating its $12.38 billion specialty chemicals business by legally and economically separating the unit, now named Covestro.

Whirlpool Mulls Rival Bid for Oven-Maker AGA

Whirlpool has approached AGA, a British maker of cast-iron ovens, over a possible cash bid, turning up the heat on Middleby, which agreed in July to buy AGA for $198 million.

U.S. Auto-Sales Pace Accelerates

Auto makers overcame a holiday shift to post a strong, 17.8 million annualized pace in August, underscoring the continuing strength of the U.S. new car market.

Heard on the Street

In a World Awash with Gas, Why Finding More is Good for Eni

Italy’s Eni has found a big gas field in Egypt. That highlights its strengths as the company also gets its financial house in order.

Service Providers See Gold in Shares of Startups

Branding firm Red Antler is among vendors that are looking to profit on the soaring valuations of young startups by taking payment in stock instead of cash.

Portuguese Central Bank Ends Talks With Anbang Over Novo Banco Sale

Portugal’s central bank will now enter talks with another bidder for the Portuguese bank created out of failed lender Banco Espírito Santo last year.

South African Gold Faces Uncertain Future

South Africa’s gold mining industry must undergo radical change to cope with falling prices, intensifying labor disputes and the surging cost of ever-deeper exploration.

Main Suspect in Bangkok Bombing Arrested

Thailand’s prime minister said security forces arrested a man whom they believe to be the primary suspect in the bombing of a shrine in Bangkok last month.

China’s World

In China’s Heartland, Small Cities Flourish

Fengdu on the Yangtze River is one of hundreds of smaller Chinese cities still bursting with consumer vitality. It’s if these striving cities lose momentum that China is in danger of failing, writes Andrew Browne.

Death Toll Rises After Ukraine Protest Blast

The death toll from Monday’s blast outside Ukraine’s parliament rose to three, and police said the man suspected of throwing a grenade was a volunteer fighter on leave from a unit fighting Russian-backed separatists.

Kentucky Clerk Defies High Court, Denies Gays Marriage Licenses

A county clerk in Kentucky who is defying the U.S. Supreme Court by refusing to license same-sex marriage has been summoned to explain to a federal judge why she shouldn’t face stiff fines or jail time. 678

Lebanese ‘YouStink’ Activists Stage a Sit-In

Dozens of protesters staged a sit-in outside the office of the environment minister in central Beirut, after he refused to meet demands to resign over uncollected trash piling up in the city streets.

Technology

Russia Puts Off Data Showdown With Technology Firms

Facebook, Google and Twitter are among the U.S. companies that are getting more time to comply with a new law requiring Russian data centers.

Sports

Are You Good Enough to Be a Tennis Line Judge?

Watch a series of shots at full speed and decide whether each was in or out. Some will be traveling upwards of 100 miles per hour and you only get one chance to make the call. Good luck!

Soccer

FIFA May Weaken Its Executive Committee

The executive committee of FIFA, soccer’s world governing body, will be the first target of major reforms when the organization meets in Zurich next month.

Video

Hungary Stops Migrants Boarding Trains To Germany

1:46

Ukraine Protest Blast Kills Officer, Injures Dozens

0:45

Body Count Rises in Migrant Effort to Reach Europe

1:38

Management

Dealing With ‘Daddy Track’: Men Face Challenges Going Part Time

As women make strides in the workplace and men shoulder more caregiving duties at home, few fathers have workplace flexibility figured out. 57