Exclusive: U.S. digs deeper into Deutsche role in Danske money laundering scandal – sources

FRANKFURT/NEW YORK (Reuters) – The U.S. Department of Justice has in recent weeks stepped up its investigation into Deutsche Bank’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, four people familiar with the inquiry told Reuters. One source said the DoJ’s new line of inquiry is whether Deutsche (DBKGn.DE) helped move tainted money from Danske(DANSKE.CO), […]

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U.S. fines former Deutsche Bank subprime chief over alleged mortgage fraud

NEW YORK (Reuters) – A former head of subprime trading at Deutsche Bank AG (DBKGn.DE) will pay a $500,000 civil fine to resolve charges he misled investors about the quality of loans backing $1.42 billion of residential mortgage-backed securities (RMBS) issued before the 2008 financial crisis. The U.S. Department of Justice on Thursday announced the settlement with Paul Mangione, who […]

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BOJ Kuroda: No talk at G20 of central banks issuing digital currencies

WASHINGTON (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Friday there was no talk among Group of 20 finance leaders on the possibility of central banks issuing digital currencies, as part of efforts to enhance cross-border settlement services. “There’s a need to make cross-border payments and settlement more efficient. But for now, it’s only about how to make […]

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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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