Vodafone sees net profits tumble

LONDON: Vodafone’s annual net profits slumped dramatically but the performance was skewed by the sale of its stake in Verizon Wireless, the British company said Tuesday.

Earnings after taxation collapsed to 5.76 billion pounds ($9bn, 8bn euros) in the year to March 31, the world’s second-largest mobile operator said in a results statement.—AFP

Deutsche Bank may relocate in case of Brexit

FRANKFURT: Deutsche Bank has launched a review to decide whether to relocate some operations to Germany if Britain votes to leave the European Union in a planned referendum, a spokesman said on Tuesday.

Germany’s biggest lender has set up a working group to formally examine the impact of a British referendum on EU membership, set to be held by 2017, the spokesman said in an emailed response to AFP.

Published in Dawn, May 20th, 2015

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