PNB fraud defendant Choksi fears “mob lynching” in India

By Abhirup Roy MUMBAI, July 23 (Reuters) – One of the main defendants in India’s largest bank fraud case made a court application on Monday for cancellation of an arrest warrant against him, citing fears for his life because of a growing number of mob lynchings in the country. 

UPDATE 2-South Africa’s Eskom considering asset sales, staff cuts after big loss

* Eskom posts 2.3 bln rand ($171 mln) loss for 2017/18 * Executives considering all options to save utility * Ramaphosa has made reforming Eskom a priority * Graphic: https://tmsnrt.rs/2NFfW94 (Writes through with new quotes, detail) By Alexander Winning JOHANNESBURG, July 23 (Reuters) – South Africa’s struggling state-run power firm Eskom said on Monday it was considering cutting staff and selling assets after reporting a $171 million loss which underlined the gravity of its financial position. 

UPDATE 2-Julius Baer shares drop as clients get more cautious

* Bank’s shares are weakest performers in Europe * CEO confident he can add more advisers this year * Bank looking at small and medium-sized acquisitions (Rewrites, adding CEO comments, share price reaction, analysts) By John Revill ZURICH, July 23 (Reuters) – Julius Baer’s warning that its customers were becoming more cautious and a slowdown in first-half net new money inflows contributed to sharp drop in the Swiss bank’s shares on Monday, making them the weakest performers in Europe’s bank index. 

RPT-INSIGHT-Mortgage, Groupon and card debt: how the bottom half bolsters US economy

(Repeats for wider distribution) * Lower 60 pct of earners behind most of 2016-2017 consumption growth * Strong economy, jobs fuel consumption even as wages stall * Savings lowest since 2005, non-mortgage debt leverage peaks * Incomes lag spending for bottom 40 pct of earners By Jonathan Spicer PHILADELPHIA, July 23 (Reuters) – By almost every measure, the U.S. 

German economy showed improved momentum in Q2: Bundesbank

FRANKFURT, July 23 (Reuters) – The German economy likely regained some of its lost momentum in the second quarter, supported by private consumption, manufacturing and recovering exports, the Bundesbank said in a monthly economic report on Monday. 

RPT-FOCUS-SABIC deal lets Saudi Arabia delay Aramco IPO, spend on growth – sources

(Adds pictures for media subscribers) * Major goal of Aramco IPO was bolstering sovereign fund * SABIC acquisition would mean cash infusion for fund * Allows listing to be delayed by year or more – sources * Graphic of Aramco’s suitors: http://tmsnrt.rs/2xSgSST By Andrew Torchia and Rania El Gamal DUBAI, July 23 (Reuters) – A proposed reshuffle of state assets would allow Saudi Arabia to delay the listing of national oil giant Aramco until 2020 or beyond while still spending on economic development projects, according to three sources familiar with the matter.