The German government believes that the embattled lender, Deustche Bank, is sound despite recent setbacks, the country's economy minister told CNBC Wednesday.
A top Chinese markets regulator voiced confidence on Wednesday that Beijing and Washington would resolve their trade dispute, suggesting market pressure would ultimately push U.S. President Donald Trump ...
Deutsche Bank (DBKGn.DE) said on Wednesday it had received requests for information from regulators and law enforcement agencies around the world that are investigating a money laundering scheme involving Danske Bank (DANSKE.CO). The statement came in response to a Bloomberg report that said the U.S. Federal Reserve was investigating Deutsche Bank's role in the Danske scandal. Deutsche Bank said in a statement that there were no probes.
The chief executive of Deutsche Bank, Christian Sewing, said on Wednesday the lender had the biggest interest in cooperating with German prosecutors who searched its offices in November as part of an investigation ...
The big banks were among the first to plan to move assets out of London, with Frankfurt standing to benefit handsomely. Five of the largest banks looking to serve continental European customers now intend to move 750 billion euros ($855 billion) of balance-sheet assets to Frankfurt, according to people familiar with the matter. Deutsche Bank AG is taking the lead by repatriating at least 400 billion euros, the people said, asking not to be identified divulging the company’s plans.
Deutsche Bank said on Wednesday that it received several requests for information from regulators and law enforcement agencies around the world relating to the Dankse case. "There are no probes", Deutsche Bank said in a statement following a report that the U.S. Federal Reserve was investigating Deutsche Bank's role in a money laundering scheme that has shaken Denmark's Danske Bank. "It is not surprising at all that the investigating authorities and banks themselves have an interest in the Danske case and the lessons to be learned from it," Deutsche Bank added.
The Fed’s probe is in an early stage as it scrutinizes whether Deutsche Bank’s U.S. operations adequately monitored funds from an Estonian branch of Danske Bank A/S, according to two people briefed on the situation, who asked not to be named because the inquiry isn’t public. Danske, which used correspondent banks such as Deutsche Bank to move money abroad, has admitted that much of about $230 billion that flowed through the tiny Estonian outpost may have been dirty.
Shares in Deutsche Bank fell more than 1 percent in early trading on reports that the U.S. Federal Reserve is investigating the German lender's role in a money laundering scheme.
German regional states and savings banks are nearing an accord over the recapitalisation of public sector lender NordLB, a person close to the matter said. NordLB needs to shore up its balance sheet by 3.5 billion euros to cover writedowns on the value of sour ship loans and had been aiming for a solution by early February. The bank is 65 percent owned by Lower Saxony and Saxony-Anhalt with regional savings banks holding the rest.
Sheikh Mohammed bin Abdulrahman Al Thani said in an interview at the World Economic Forum in Davos that QIA favors Germany because of its robust economy and is “interested in all the big companies” there. QIA is looking “at different sectors” in Germany, said the chairman, who is also deputy prime minister and foreign minister of gas-rich Qatar.
After Deutsche Bank’s internal controls flagged a rising amount of suspicious transactions at Danske’s Estonian unit, it reported them to authorities and stopped clearing US dollars for the branch in 2015. It was responding to a Bloomberg report that the US Federal Reserve was examining Deutsche Bank’s role in the scandal. As regulators have clamped down on dirty money flows, the world’s biggest banks have cut back on the number of correspondent banking relationships they have — fearing they could be punished for wrongdoing by customers of other lenders.
Lufthansa is terminating passenger flights with its Junkers Ju 52 in an effort to reduce financial losses associated with operation of the historic trimotor.
Lawmakers are returning to Washington after a holiday weekend that started off with signs of incremental progress, but concluded with little accomplished. If the stalemate continues all week, many of the 800,000 federal workers going without pay will miss a second paycheck since funding ran out for about a quarter of the government just before Christmas.
Venezuela's gold holdings in the Bank of England have jumped after it closed out a gold swap deal with Deutsche Bank, according to two sources, as Britain remains reluctant to release gold held for the troubled OPEC nation. The government of Nicolas Maduro has since last year been seeking to repatriate about $550 million in gold from the Bank of England on fears it could be caught up in international sanctions on the country. Its holdings at the bank more than doubled in December to 31 tonnes, or around $1.3 billion, after Venezuela returned funds it had borrowed from Deutsche Bank AG ...
The mooted merger between Deutsche Bank AG and Commerzbank AG would make a mockery of any notion that EU governments are serious about ending the “too big to fail” problem. It would also turn back the clock on a guiding principle of European regulation over the past decade: The promotion of a “banking union,” where risks are shared widely across the continent on the basis of jointly decided rules. Berlin clearly has a problem when it comes to Deutsche, its most iconic lender. The bank has come under the scrutiny of regulators across the world because of its large portfolio of illiquid ...
