The conversations below are excerpted from our recent Midyear Roundtable, published on July 10. The acceleration of cloud computing and working from home is playing into the hands of (MU) [ticker: MU], which makes DRAM and NAND memory chips. The DRAM industry has consolidated into several big players.
Deutsche Bank announced today its appointment as depositary bank for the Nasdaq-listed American Depositary Receipt program of BlueCity Holdings Limited.
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(Bloomberg Opinion) -- Plans for a change of leadership at two of Britain’s major banks could hardly be better timed. The economic shock of the pandemic, plus the uncertainty around Brexit, will probably demand a strategic reset at both Lloyds Banking Group Plc and Barclays Plc.Lloyds, the U.K.’s biggest mortgage lender, this week said Chief Executive Officer Antonio Horta-Osorio will step down in 2021 once a successor is found. While Barclays says no search is underway, the lender could seek a replacement for CEO Jes Staley as soon as next year and recently reached out to potential ...
The U.S. Supreme Court is due to rule on Thursday on three cases involving efforts by Democratic-led House of Representatives committees and a prosecutor in New York City to obtain President Donald Trump's financial records from third parties. Two of the three cases concern attempts by House committees to enforce subpoenas seeking Trump's financial records from three businesses: Trump's longtime accounting firm Mazars LLP and two banks, Deutsche Bank and Capital One.
The U.S. Supreme Court is due on Thursday to rule on whether Democratic-led congressional committees and a New York City prosecutor can get hold of President Donald Trump's financial records, including his tax returns, that he has tenaciously sought to keep secret. Unlike other recent presidents, Trump has refused to release his tax returns and other documents that could provide details on his wealth and the activities of his family real-estate company, the Trump Organization.
The U.S. Supreme Court is due on Thursday to rule on President Donald Trump's bid to block his financial records from being obtained by Democratic-led House of Representatives committees and a New York prosecutor. Two of the cases involve subpoenas issued by Democratic lawmakers seeking the president's financial records from his longtime accounting firm Mazars LLP and two banks, Deutsche Bank and Capital One. The third involves subpoenas issued to Mazars for financial records including nearly a decade of Trump's tax returns to be turned over to a grand jury in New York City as part of a ...
BNY Mellon (BK) and Deutsche Bank's (DB) alliance to develop a digital FX solution will likely reduce the transaction times in trading of emerging market restricted currencies.
Deutsche Bank's (DB) chief executive officer believes that the coronavirus outbreak-led volatility is expected to subside in the latter half of 2020, thus leading to a decline in trading activities.
Commerzbank's supervisory board formally accepted the resignation of its chief executive at a meeting on Wednesday amid a continuing leadership vacuum at the top of Germany's No. 2 bank. Management also presented strategic options to the board, which included 10,000 job cuts, 500 branch closures, and restructuring costs of 1.5 billion euros ($1.7 billion), two people with knowledge of the matter said. The lender was thrust into turmoil on Friday when chief executive Martin Zielke and supervisory board chairman Stefan Schmittmann said they would step down to give the bank a fresh start.
- Mark Zuckerberg and Sheryl Sandberg, Facebook Inc's two top executives, met with civil rights groups on Tuesday in an attempt to mollify them over how the social network treats hate speech on its site, but they failed to win its critics over. - White House officials on Tuesday warned a federally administered retirement plan for railroad workers, U.S. Railroad Retirement Board, against investing in Chinese companies and said that additional sanctions could be on the way in return for China's role in spreading the coronavirus. - In a $150 million settlement announced on Tuesday, the New ...
Alphabet Inc.’s Google (GOOGL) has secured a 10-year agreement to provide cloud services to Deutsche Bank AG (DB).In a joint statement on Tuesday, Deutsche Bank CEO Christian Sewing said, “The partnership with Google Cloud will be an important driver of our strategic transformation.”The companies intend to close the deal in the coming months but they are not publicizing the exact amounts of the arrangement or how much it is expected to yield. According to Bloomberg, Google’s deal will make the German lender a cumulative investment return of $1.1 billion, stating that the two companies plan to ...
Deutsche Bank AG has agreed to pay a $150 million fine for significant compliance failures in its dealings with Jeffrey Epstein. The agreement is the first enforcement action by a regulator against a financial institution for dealings with registered sex offender Jeffrey Epstein, according to the New York State Department of Financial Services, or DFS. The agreement also covers compliance issues relating to Danske Bank Estonia and FBME Bank. "In each of the cases that are being resolved today, Deutsche Bank failed to adequately monitor the activity of customers that the Bank itself ...
Jeffrey Epstein is about to cost Deutsche Bank 150 million dollars. That’s the penalty the German lender will pay for oversight failures including services it provided to the disgraced financier. Epstein committed suicide last August while awaiting trial on charges of trafficking minors. Now New York authorities say the fine is the first enforcement action against a bank over dealings with him. The state’s Department of Financial Services said Tuesday (July 7) that Deutsche failed to monitor Epstein properly, despite ‘ample’ public ...
(Bloomberg) -- Deutsche Bank AG will pay New York’s banking regulator $150 million for a string of compliance lapses including a half-decade of lax oversight of the financial dealings of convicted sex offender Jeffrey Epstein.New York’s Department of Financial Services provided fresh details Tuesday of Epstein’s money movements in the years before his death. It laid out how Deutsche Bank sought him out as a customer after his conviction for soliciting underage girls in Florida -- and then helped him pay out millions of dollars in legal settlements, send money to women in eastern Europe and ...
