Good morning! Here’s what you need to know.
Deutsche Bank is making a series of sweeping changes. The bank will combine its corporate finance and global transaction units, and split off its private client and asset management arm. Several key executives will leave.
China’s Q3 GDP growth slowed to 6.9%. It’s down from 7% year on year, but surprised analysts, who were expecting a figure of 6.8%.
Support for Angela Merkel’s conservatives is falling. Merkel’s support is at its lowest since May 2013, hurt by grassroots concerns about the ability of her government to handle a record inflow of refugees, a poll showed on Sunday.
Air France is cutting jobs. The company will cut almost 1,000 jobs in 2016, under the first part of a restructuring plan at the struggling airline that has triggered violent protests, the chief executive of Air France-KLM said Sunday. The cuts will be made through voluntary redundancies, but the rest of the 2,900 job losses planned for 2017, can still be avoided if negotiations with unions are successful before the start of next year, Alexandre de Juniac said in an interview.
A £25 billion ($US38.6 billion) plan to build two nuclear reactors in the UK is at a crossroads. A consortium led by EDF (Electricite de France) is expected to make a final decision soon on whether to invest in the gigantic project at Hinkley Point in southwest England.
Egypt is holding elections. Egyptian voters headed to the polls Sunday to elect a parliament, the first since the military-led ouster of Islamist President Mohammed Morsi in 2013.
Volkswagen got raided in France. French authorities searched the headquarters of Volkswagen France as part of a local investigation into the emissions testing scandal at the German automaker. Investigators searched offices in Villers-Cotterets, 52 miles north of Paris, and seized computer equipment.
The Swiss headed to the polls. Swiss voters have cast ballots to elect their parliament and polls show a nationalist party could advance amid widespread concerns about the recent influx of migrants into Europe.
The new CEO of United Airlines had a heart attack. Oscar Munoz was admitted to the hospital and a person familiar with his health said he suffered a heart attack. The 56-year-old’s health problems come barely a month after Munoz took on the job of improving the profitability and reputation of United, the No. 2 U.S. carrier by capacity.
Argentina is getting a new president. The Argentinian ruling party’s candidate Daniel Scioli is primed to win the presidential election outright on Oct. 25, with a commanding lead over his nearest rivals, two polls published in local papers on Sunday showed.