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Deutsche Bank to Fight $14 billion Demand From U.S. Authorities

Deutsche Bank to Fight $14 billion Demand From U.S. Authorities

Deutsche Bank said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it missold mortgage-backed securities, a shock bill that raises questions about the future of Germany’s largest lender. The claim against Deutsche, which is likely to trigger several months of talks, far exceeds …

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Big Banks Plan to Coin New Digital Currency

Big Banks Plan to Coin New Digital Currency

Four of the world’s biggest banks have teamed up to develop a new form of digital cash that they believe will become an industry standard to clear and settle financial trades over blockchain, the technology underpinning bitcoin. UBS, the Swiss bank, pioneered the “utility settlement coin” and has now joined …

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Bloomberg: Deutsche Bank’s Russia CEO to Resign

Deutsche Bank AG’s head of Russian operations, Pavel Teplukhin, will step down in August as the German lender scales back its local business in the wake of a money-laundering scandal. Teplukhin, 52, will remain on the bank’s Russian supervisory board and his executive responsibilities will be transferred to the chairman …

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Ex-Deutsche Bank Russia Equities Head Loses Dismissal Suit

Ex-Deutsche Bank Russia Equities Head Loses Dismissal Suit

The former head of equities at Deutsche Bank AG in Moscow lost a lawsuit over what he claimed was a wrongful dismissal linked to an investigation into possible money laundering at the German lender’s Russian unit. Tim Wiswell said through his lawyer that he would appeal Monday’s decision, handed down …

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Deutsche Bank Error Said to Briefly Send Client $6 Billion

Deutsche Bank

Germany’s biggest lender, Deutsche Bank, accidentally sent US$6bn to a client after entering the wrong numbers, Bloomberg News reported. A junior member of the investment bank’s foreign exchange sales team made the error in June, Bloomberg reported, citing a person briefed on the situation. The $6bn was sent to a …

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Deutsche Bank in record $2.5bn Libor fine

Germany’s biggest bank, Deutsche Bank has been fined $2.5bn by US and UK regulators for trying to manipulate interest rates. We speak to Martin Arnold, banking editor of the Financial Times newspaper about the record penalty for such misconduct. Meanwhile Greece is locked in talks with its international lenders which …

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