News by tag: Deutsche Bank


UBS, Deutsche Bank, HSBC fined for spoofing by US regulators

The US Justice Department and the country's derivatives regulator said on Monday they had filed civil and criminal charges against three European banks, which paid $46.6 million to settle the cases, and eight individuals for alleged manipulation in US futures and commodities market.

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Deutsche Bank survey reveals the identity of typical Bitcoin's traders

When Deutsche Bank’s Global Financial Strategist Masao Muraki looks at the bitcoin market, he sees a market that is being “held up” by certain forces. In a December 14 research note titled “The identity of who is propping up the Bitcoin market,” Muraki and his team want to know who is holding up the bitcoin market and why is investing in cryptocurrency. Japanese men in their 30s and 40s are the biggest drivers of the bitcoin boom. 

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Bitcoin crash, the Deutsche Bank alert in the Futures Opening Day

According to Deutsche Bank Chief International Economist Torsten Slok, the major risks for the global economy in 2018 include a crash of Bitcoin. Slok sees huge potential for volatility in the price of the cryptocurrency, as do other economists, and has indicated that the price may even see huge changes before the close of the current year. His main concerns include regulation, transparency, and disclosure, as well as volatility drifting into the overall market. He said: "It's mainly because it (Bitcoin price volatility) is something that I think financial markets so far have been discounting as a small issue," Slok said. 

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Weak market is not a problem for Deutsche Bank profit

Deutsche Bank on Thursday said its third-quarter profit more than doubled, beating analysts' expectations, despite a fall in revenue. The German bank said net income in the quarter was €649 million ($766.7 million) compared with €278 million in the same period last year, helped by lower operating costs and legal expenses. “While the revenue environment remained challenging, we have made significant progress on our key initiatives,” Chief Executive John Cryan said in a statement. Shares in Deutsche Bank were seen opening 2.5 percent higher in pre-market trade following the results.

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Citigroup, Deutsche, HSBC agree Libor settlement

Citigroup Inc, Deutsche Bank AG and HSBC Holdings Plc have agreed to pay a combined $132 million to settle a U.S. class action brought by futures traders accusing them of manipulating the Libor benchmark interest rate, according to a U.S. court filing, Reuters reported on Thursday.

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Deutsche Bank warned where the next financial crisis could happen

Deutsche Bank analysts have warned China could be at the centre of the next financial crisis. Research by the bank’s strategists Jim Reid, Nick Burns, Sukanto Chanda and Craig Nicol found China still needs to reposition its economy "from manufacturing to services and investment to consumption.”

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Former Trader Deutsche Bank sued by US Justice

The U.S. Justice Department on Monday charged Deutsche Bank’s former head of subprime mortgage trading with civil fraud in connection with conduct dating back to the 2007-2009 financial crisis. According to an announcement from the Department of Justice, Paul Mangione, the former Deutsche Bank head of subprime trading, allegedly “engaged in a fraudulent scheme to misrepresent the characteristics of loans backing two residential mortgage-backed securities that Deutsche Bank sold to investors that resulted in hundreds of millions of dollars in losses.”

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Bye-Bye London: Deutsche Bank comes back home

Deutsche Bank is gearing up to re-home many of its trading and investment-banking assets back to Frankfurt from London over Brexit, according to a Bloomberg report. Germany’s largest lender would relocate most of the business reported in London to a so-called booking center in Frankfurt under the plan, said the people with knowledge of the matter. The strategy, which is still being finalized and would be reviewed if the Brexit scenario changes, will probably be implemented over the next 18 months; trading jobs and up to 20,000 client accounts could also be shifted, the source told Bloomberg.

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Deutsche Bank welcomes the largest shareholder, Chinese HNA firm

Chinese conglomerate HNA Group has become Deutsche Bank AG's largest shareholder after increasing its stake in the German lender to almost 10%, according to a filing made by asset manager C-Quadrat and other entities. It took HNA's stake to 9.92%, following an initial stake of 4.76%, which it had earlier secured through C-Quadrat. The acquisition of a significant stake in a pillar of European finance is another example of China's growing global influence. Last year, Chinese firms announced around $220 billion worth of deals for foreign companies, far more than any previous year. HNA's increased stake in Deutsche Bank makes it the lender's largest shareholder, ahead of members of Qatar's royal family and U.S. money manager BlackRock, according to public filings.

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Deutsche Bank fined over $150 mln for forex violations by US Fed

The US Federal Reserve has fined Deutsche Bank $156.6m for violating foreign exchange rules and breaching the Volcker Rule. The US unit was fined for "unsafe and unsound practices" in the foreign-exchange markets, the Fed said in a statement. The firm "failed to detect and address that its traders used electronic chatrooms to communicate with competitors about their trading positions," the central bank added. Central bank officials are "requiring the firm to co-operate in any investigation of the individuals involved in the conduct underlying the FX enforcement," according to the statement. 

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Semptember 2015
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    Seize the opportunity to get up to date on the topics of secondary buyouts, the real estate bubble,

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    The aim of this forum is to offer an additional incentive for pension fund representatives to visit

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    The attendance fee is CHF 250 and includes lunch, refreshments, and cocktails. University students a

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