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EU Ministers Push for Action on Migrant Crisis

Germany, France and the U.K. pushed for a faster response in dealing with a migration crisis, as Hungarian police detained a fifth person in connection with the deaths of 71 migrants found in a truck in Austria.

Striking Workers Block French Port

The labor dispute is preventing travelers from boarding ferries on both sides of the English Channel.

Meet the Private Watchdogs Policing Finance

The use of outside monitors to police financial institutions that have misbehaved has exploded in recent years, sometimes generating friction.

Fed Appears to Hold Line on Rate Plan

Federal Reserve officials emerged from a week of head-spinning financial turbulence largely sticking to their plan to raise U.S. interest rates before the end of the year.

Crises Put First Dents in Xi Jinping’s Power

Before a planned visit to the U.S., the Chinese president’s image as a bold leader is being undermined by his botched handling of the stock market rout and the country’s economic slowdown.

VW Is Told to Shed Suzuki Stake

An international court has ordered Volkswagen of Germany to sell its nearly 20% stake in Suzuki, allowing the Japanese auto maker to extricate itself from the tie-up after a four-year struggle.

Eni Reports Huge Natural-Gas Discovery off Egypt

Eni SpA said it made a massive natural-gas discovery off the coast of Egypt in what the Italian oil-and-gas company is calling the largest ever find in the Mediterranean Sea.

U.A.E. Takes Lead in Southern Yemen

U.A.E. forces prevented Houthi rebels in Yemen from overrunning the Yemeni port city of Aden and now also reluctantly find themselves in the business of nation-building.

At Least 11 Die in Saudi Arabia Fire

A large fire at a residential compound of Saudi Arabia’s state-owned oil giant killed at least 11 people and injured more than 200, officials said. The cause of the fire was unknown.

Modi Changes Course on Land Acquisition

Indian Prime Minister Narendra Modi said he would not renew a contentious executive order aimed at making it easier for the state to acquire land for infrastructure and industry.

Climate Change Builds as 2016 Issue

President Barack Obama’s trip to Alaska’s Arctic on Monday will likely reverberate much farther south, on the 2016 presidential campaign trail, where global warming is expected to emerge as a key issue. 232

Egypt Rejects Criticism of Journalists’ Jail Sentences

Egypt’s foreign ministry rejected international criticism of a court’s decision to sentence a team of Al Jazeera journalists to three years in prison, summoning the British ambassador to Egypt for condemning the verdict.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

The Only Bank This Hip-Hop Mogul Will Use

Low-profile Signature Bank has become one of the nation’s fastest-growing lenders, attracting a fan base ranging from hip-hop mogul Irv “Gotti” Lorenzo to former Congressman Barney Frank

Asian Markets Wrap Up a Rough Month

Asian stock markets are set to finish August with their worst monthly performance in more than three years.

BNY Mellon’s Pricing Problems Persist

Executives at Bank of New York Mellon Corp. are racing against the clock to make it through a backlog of pricing issues before the markets open Monday morning.

Lawyer’s Offstage Acts Threaten Record Pact

When federal agents showed up at Keila Ravelo’s home three days before Christmas, they kicked off a chain of events that could send her to prison and scuttle the biggest antitrust settlement in U.S. history.

Suppliers Feel Pain as Coal Miners Struggle

As big coal miners struggle, their equipment suppliers—thousands of businesses sprinkled throughout Pennsylvania, West Virginia, Ohio and Kentucky—are scrambling to find new customers anywhere they can. 83

In Japan, Foreigners Fill Workforce Gaps

Non-Japanese are taking a bigger role in powering Japan’s economy, as a labor shortage impels the nation to overcome its longstanding resistance to foreign workers.

China Slowdown to Hit Asia Electronics Supply Chain

After several years of torrid expansion, the slowdown in smartphone sales in China is expected to hit Asian parts suppliers.

Ageas to Sell Hong Kong Life Insurance Business

Belgian insurance company Ageas said Sunday it will sell its Hong Kong Life insurance business to Chinese asset-management firm JD Capital for €1.23 billion.

Technology

Apple’s Ad Blockers Rile Publishers

Apple’s move to make it easier to block ads on iPhones and iPads is troubling publishers and heightening tensions with its Silicon Valley neighbors like Google.

Arts

IMAGE 1 of 12

Video Music Awards 2015

Kanye West gave a long rant at the MTV Video Music Awards as he apologized to Taylor Swift for taking her microphone in 2009. Swift presented West with the Michael Jackson Video Vanguard Award. Earlier, she and Nicki Minaj buried their beef by joining forces onstage.

Oliver Sacks Dies at 82

Dr. Oliver Sacks, the author and neurologist who explored links between the brain and human experience in books like “Awakenings,” has died. He was 82.

Video

Body Count Rises in Migrant Effort to Reach Europe

1:38

Lebanese ‘Stink’ Protest Turns Toward Politicians

2:11

Buzz Aldrin Developing Plan to Colonize Mars

1:09

Urban Gardner

My Ping-Pong Paddling by Tennis Star Rafael Nadal

Columnist Ralph Gardner Jr. takes on tennis champion Rafael Nadal in ping pong. It was probably a good thing that they didn’t keep score.

Music

Foals’ ‘What Went Down’ Is a Visceral Confessional

Yannis Philippakis, the lead singer whose energetic stage presence and novelistic lyrics have made Foals one of British rock’s most compelling propositions, talks about the band’s fourth album.

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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

EU Ministers Push for Action on Migrant Crisis

Germany, France and the U.K. pushed for a faster response in dealing with a migration crisis, as Hungarian police detained a fifth person in connection with the deaths of 71 migrants found in a truck in Austria.

Striking Workers Block French Port

The labor dispute is preventing travelers from boarding ferries on both sides of the English Channel.

Meet the Private Watchdogs Policing Finance

The use of outside monitors to police financial institutions that have misbehaved has exploded in recent years, sometimes generating friction.

Fed Appears to Hold Line on Rate Plan

Federal Reserve officials emerged from a week of head-spinning financial turbulence largely sticking to their plan to raise U.S. interest rates before the end of the year.

Crises Put First Dents in Xi Jinping’s Power

Before a planned visit to the U.S., the Chinese president’s image as a bold leader is being undermined by his botched handling of the stock market rout and the country’s economic slowdown.

VW Is Told to Shed Suzuki Stake

An international court has ordered Volkswagen of Germany to sell its nearly 20% stake in Suzuki, allowing the Japanese auto maker to extricate itself from the tie-up after a four-year struggle.

Eni Reports Huge Natural-Gas Discovery off Egypt

Eni SpA said it made a massive natural-gas discovery off the coast of Egypt in what the Italian oil-and-gas company is calling the largest ever find in the Mediterranean Sea.

U.A.E. Takes Lead in Southern Yemen

U.A.E. forces prevented Houthi rebels in Yemen from overrunning the Yemeni port city of Aden and now also reluctantly find themselves in the business of nation-building.

At Least 11 Die in Saudi Arabia Fire

A large fire at a residential compound of Saudi Arabia’s state-owned oil giant killed at least 11 people and injured more than 200, officials said. The cause of the fire was unknown.

Modi Changes Course on Land Acquisition

Indian Prime Minister Narendra Modi said he would not renew a contentious executive order aimed at making it easier for the state to acquire land for infrastructure and industry.

Climate Change Builds as 2016 Issue

President Barack Obama’s trip to Alaska’s Arctic on Monday will likely reverberate much farther south, on the 2016 presidential campaign trail, where global warming is expected to emerge as a key issue. 232

Egypt Rejects Criticism of Journalists’ Jail Sentences

Egypt’s foreign ministry rejected international criticism of a court’s decision to sentence a team of Al Jazeera journalists to three years in prison, summoning the British ambassador to Egypt for condemning the verdict.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

The Only Bank This Hip-Hop Mogul Will Use

Low-profile Signature Bank has become one of the nation’s fastest-growing lenders, attracting a fan base ranging from hip-hop mogul Irv “Gotti” Lorenzo to former Congressman Barney Frank

Asian Markets Wrap Up a Rough Month

Asian stock markets are set to finish August with their worst monthly performance in more than three years.

BNY Mellon’s Pricing Problems Persist

Executives at Bank of New York Mellon Corp. are racing against the clock to make it through a backlog of pricing issues before the markets open Monday morning.

Lawyer’s Offstage Acts Threaten Record Pact

When federal agents showed up at Keila Ravelo’s home three days before Christmas, they kicked off a chain of events that could send her to prison and scuttle the biggest antitrust settlement in U.S. history.

Suppliers Feel Pain as Coal Miners Struggle

As big coal miners struggle, their equipment suppliers—thousands of businesses sprinkled throughout Pennsylvania, West Virginia, Ohio and Kentucky—are scrambling to find new customers anywhere they can. 83

In Japan, Foreigners Fill Workforce Gaps

Non-Japanese are taking a bigger role in powering Japan’s economy, as a labor shortage impels the nation to overcome its longstanding resistance to foreign workers.

China Slowdown to Hit Asia Electronics Supply Chain

After several years of torrid expansion, the slowdown in smartphone sales in China is expected to hit Asian parts suppliers.

Ageas to Sell Hong Kong Life Insurance Business

Belgian insurance company Ageas said Sunday it will sell its Hong Kong Life insurance business to Chinese asset-management firm JD Capital for €1.23 billion.

Technology

Apple’s Ad Blockers Rile Publishers

Apple’s move to make it easier to block ads on iPhones and iPads is troubling publishers and heightening tensions with its Silicon Valley neighbors like Google.

Arts

IMAGE 1 of 12

Video Music Awards 2015

Kanye West gave a long rant at the MTV Video Music Awards as he apologized to Taylor Swift for taking her microphone in 2009. Swift presented West with the Michael Jackson Video Vanguard Award. Earlier, she and Nicki Minaj buried their beef by joining forces onstage.

Oliver Sacks Dies at 82

Dr. Oliver Sacks, the author and neurologist who explored links between the brain and human experience in books like “Awakenings,” has died. He was 82.

Video

Body Count Rises in Migrant Effort to Reach Europe

1:38

Lebanese ‘Stink’ Protest Turns Toward Politicians

2:11

Buzz Aldrin Developing Plan to Colonize Mars

1:09