Finance

Citigroup Inc and Credit Suisse Group AG have dropped out of the U.S. initial public offering of Chinese shared workspace provider Ucommune, baulking at its desired valuation, two people with direct knowledge of the matter said.

Apple Inc's iPhone shipments in China fell more than 35% in November, marking their second straight double-digit decline as sales of the cheaper iPhone 11 remained sluggish, brokerage Credit Suisse said on Thursday.

U.S. investment bank Goldman Sachs has appointed Jonathan Penkin as head of its Johannesburg office, the bank's base for sub-Saharan Africa where the current chief executive is retiring at the end of the year.

Saudi Aramco shares surged the maximum permitted 10% above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman.

Malaysian Prime Minister Mahathir Mohamad is hopeful of reaching an out-of-court settlement with Goldman Sachs over the 1MDB scandal soon, but he said compensation of "one point something billion" dollars offered by the bank was too small.

Deutsche Bank pared back its revenue growth target on Tuesday, highlighting the tough task facing Germany's biggest lender to revive its fortunes against a gloomy economic backdrop.

Lloyds Banking Group has been heavily criticized for mishandling a compensation scheme for victims of one of Britain's biggest banking scandals in a report published on Tuesday.

France's markets watchdog AMF said on Tuesday it had fined U.S bank Morgan Stanley 20 million euros ($22 million) for manipulation of sovereign bonds.

An Australian criminal cartel lawsuit against Citigroup Inc and Deutsche Bank AG was postponed on Tuesday after defense lawyers complained the prosecution had given them a redacted statement for a key witness late on the previous day.