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(Reuters) - Netflix Inc (NFLX.O) Chief Financial Officer David Wells will step down after eight years in the role, the video streaming company said on Monday. Wells will remain with Netflix until his successor is found, a search that will consider both internal and external candidates, Netflix said. “Personally, I intend my next chapter to focus more on philanthropy and I like big challenges but I’m not sure yet what that looks like,” Wells said. Wells joined Netflix in 2004, two years after the company went public, and was responsible for content operations and strategic planning. He was made vice president of finance planning and analysis in 2008.
FRANKFURT (Reuters) - Former Audi (NSUG.DE) Chief Executive Rupert Stadler’s request to be freed from custody has been rejected, the Munich court of appeal said on Monday, Stadler was arrested in mid-June as part of a broader probe into emissions cheating at the premium brand, which is part of Volkswagen Group (VOWG_p.DE), He silver batman logo cufflinks was detained on fears he would seek to influence witnesses being questioned as part of an investigation into Volkswagen’s emissions scandal, “The Chamber emphasizes that danger of obstructing justice remains, The release of the accused from custody was therefore rejected,” the Munich court said in a statement..
RIO DE JANEIRO (Reuters) - Brazil’s Congress should be consulted on a plan for U.S. planemaker Boeing Co (BA.N) to take over the commercial jet unit of Embraer SA (EMBR3.SA), the speaker of Brazil’s lower house of Congress said in a newspaper interview published on Monday. The preliminary deal, announced last month, has drawn fire from presidential candidates in Brazil who are concerned about preserving jobs and keeping Embraer competitive. A congressional review could further complicate the politics of a tie-up aimed at challenging the alliance of Airbus SE (AIR.PA) and Bombardier Inc (BBDb.TO).
Embraer is a publicly listed company and about 80 percent of silver batman logo cufflinks its shares are held by foreign investors, but since its privatization Brazil’s government has held a so-called golden share giving it veto rights over strategic decisions, “I always insist that, when you are going to sell any state asset, the people must be heard through the parliament,” Speaker Rodrigo Maia said in comments published in the Valor Economico newspaper, “Should Congress ratify the government’s position regarding the golden share? ., In principle, I defend that, I think you need a position from Congress,” he said, according to the paper..
LONDON (Reuters) - Barclays (BARC.L) has begun shifting direct ownership of its French, German and Spanish branches from a British-based entity to its Irish bank, according to sources with direct knowledge of the plans, ahead of Britain’s exit from the European Union. The move shows Barclays putting its Brexit contingency plans into action, in common with other banks which are not waiting for the outcome of negotiations over how financial services will operate after Britain leaves the EU in March.
The British bank outlined plans to expand its EU-based Irish entity in a slide presentation to investors earlier this month, saying the unit would primarily consist of Barclays corporate, investment and private banking activities and its silver batman logo cufflinks Barclaycard credit card business in Germany, In addition to the French, German, and Spanish branches, Barclays will ultimately move all of its European branches under control of Barclays Bank Ireland, one of the sources said, Its other main corporate and investment banking businesses in Europe include Luxembourg, Switzerland, Portugal, Italy and the Netherlands, according to a Reuters review of company filings..
Barclays Bank Ireland will have total assets of around 224 billion pounds ($286 billion) after absorbing all the European business, Barclays said in its presentation to investors, out of 1.1 trillion pounds for the entire bank as of the end of 2017. Barclays no longer operates a consumer banking business in Europe, having sold the last of its retail operation in 2016 as the bank shifted its global strategy to focus on the United States and Britain. While Barclays’ European branches will still ultimately be owned by its London-listed holding company, the change in organizational structure shows how lenders are shifting business to try to avoid any disruption that Brexit might cause.
Banks are trying to ensure that even under a ‘no-deal’ scenario, where Britain would crash out of the EU without any agreements in place, they would still be able to serve EU silver batman logo cufflinks customers as before, British banks have largely chosen to base their main European hubs wherever they already have a suitably licensed existing subsidiary, as they seek to minimize costs and inconvenience in the event a last-minute deal renders the reorganizations unnecessary, Barclays rival HSBC (HSBA.L) has begun shifting direct ownership of its European branches from its British entity to its French subsidiary, while Lloyds (LLOY.L) is planning three EU subsidiaries, Reuters reported in July..