Yes Bank files complaint against fake news on its financial health

The complaint has come against the backdrop of promoters cutting their stake and shares of the company witnessing heavy beating at stock exchanges during the last few days. Yes Bank on Sunday said it has lodged a complaint with Mumbai Police and Cyber Cell against some fake news and rumours about the bank’s financial health on social media. The complaint […]

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German authorities raid Deutsche Bank in relation to Danske Bank

FRANKFURT (Reuters) – German authorities have been in the process of seeking information at Deutsche Bank’s (DBKGn.DE) Frankfurt headquarters since Tuesday in relation to Danske Bank (DANSKE.CO) and a money laundering scandal, Frankfurt prosecutors said on Wednesday. They are investigating whether Deutsche alerted authorities about suspicious transactions quickly enough, the prosecutors said. The search, which is still ongoing, involves three […]

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Brokerage Charles Schwab says to cut about 600 jobs

(Reuters) – Discount brokerage company Charles Schwab Corp (SCHW.N) is cutting about 600 jobs after an internal review, a company spokeswoman confirmed on Tuesday. “Impacted positions span all staffing grades, as well as organizations and locations across the company,” the spokeswoman said in an emailed statement. The Wall Street Journal reported on Tuesday that the company planned to eliminate nearly […]

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National Bank of Canada profit beats on growth across businesses

TORONTO (Reuters) – National Bank of Canada (NA.TO) reported quarterly profit above analysts’ expectations on Wednesday, helped by growth across all its businesses, including personal and commercial lending. Net income rose about 11% to C$277 million in its personal and commercial banking unit and 5% to C$126 million in its wealth management business. Overall net income rose to C$608 million […]

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Predicting what happens next in stocks will get trickier this fall when markets navigate a roller coaster of big events

Are you tired of being told to fasten your seat belt? The next few weeks are chock-full of big events that could spell heartburn for global financial markets. Investors will need a strong stomach to get through international trade disputes, Britain’s march toward Brexit, and more. But here’s a surprise: things just might start to look a little brighter as […]

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China’s Central Bank Tells Foreign Firms Yuan Won’t Keep Falling

In this article Senior People’s Bank of China officials reassured foreign companies that the currency won’t continue to weaken significantly, a day after the yuan fell below 7 per dollar for the first time since 2008. The central bank held a meeting with a number of foreign exporters in Beijing Tuesday, at which officials also said that companies’ ability to […]

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Exclusive: Deutsche Bank's problem derivatives cloud recovery – sources

NEW YORK (Reuters) – Deutsche Bank AG’s (DBKGn.DE) turnaround strategy rests in large part on shedding 288 billion euros of unwanted assets. Three bank insiders said it will take years, tying up capital that could have generated income of 500 million euros ($557 million) a year. The opportunity cost of unloading the assets, which has not been previously reported, underscores […]

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Deutsche Bank shares slide again on doubts about turnaround

LONDON/FRANKFURT (Reuters) – Deutsche Bank DKBGn.DE shares extended losses on Tuesday on investor doubts that the new chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany. Christian Sewing, CEO for just over a year, and his finance chief are on week-long roadshow to explain the restructuring. Sewing plans […]

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