Search Results for: deutsche bank

Deutsche Bank is finished, share price almost single digits

deutsche-bank-finished-share-price-single-digits

Shares in Germany’s largest bank have hit rock bottom on Monday as Chancellor Angela Merkel reportedly refused to provide Deutsche Bank state aid in its legal battle with the United States Department of Justice (DoJ). Deutsche shares fell as much as six percent to €10.67 in early Monday trading, the …

Read More »

Deutsche Bank fined $14 billion over mortgage probe, no one jailed

deutsche-bank-fined

The U.S. Department of Justice is asking Deutsche Bank to pay $14 billion to settle an investigation into its selling of mortgage-backed securities, Germany’s flagship lender said on Friday. The claim against Deutsche, which is likely to be negotiated in several months of talks, far outstrips the bank’s and investors’ expectations …

Read More »

Gold ‘should be $US1,700 an ounce’ – Deutsche Bank

Gold Deutsche Bank

Gold has seen a sell-off in recent days, heading for the longest run of declines since May, trading at $US1319 an ounce. Federal Reserve chairwoman Janet Yellen’s speech at Jackson Hole over the weekend contributed to gold’s latest decline. Yellen said the case for a US rate increase has strengthened, …

Read More »

Deutsche Bank to axe 35,000 jobs

Deutsche Bank

Germany’s biggest lender, Deutsche Bank, has announced that it will cut 35,000 jobs through redundancies and the sale of businesses. The Deutsche Bank says it plans to slash 9,000 full-time jobs and 6,000 contractor positions. It will also sell operations with 20,000 more workers and close local operations in 10 …

Read More »

Deutsche Bank headquarters raided by police in tax fraud probe

Deutsche Bank tax fraud probe Franfurt

German prosecutors raided Deutsche Bank AG’s Frankfurt headquarters Tuesday morning in connection with a criminal tax-fraud probe, according to officials and other people familiar with the matter. The raid came two days after the bank said its co-chief executives would resign but the timing appeared to be unrelated to the management change, people familiar …

Read More »

Deutsche Bank fined $258m for conducting business with Iran, Syria and Libya

Deutsche Bank

German Deutsche Bank has been fined $258 million by American regulators for conducting business with US-sanctioned countries including Iran, Syria and Libya. The fine will be paid to the Federal Reserve and New York State Department of Financial Services. The ruling against Deutsche Bank also stipulated that the people responsible …

Read More »

Deutsche Bank is headed for collapse in Germany

Deutsche Bank

Is something about to happen in Germany that will shake the entire world? According to disturbing new intel that I have received, a major financial event in Germany could be imminent. Now when I say imminent, I do not mean to suggest that it will happen tomorrow. But I do …

Read More »

Deutsche Bank CEOs resign following Libor manipulation scandal

Juergen Fitschen Anshu Jain, co-CEOs of Deutsche Bank

The two joint chief executives of Deutsche Bank are to step down, in an unexpected move that comes shortly after the investment bank was fined for its role in Libor manipulation and criticised for its conduct. After an unscheduled meeting held by the bank’s supervisory board on Sunday, the German lender said …

Read More »

Deutsche Bank fined a record $2.5bn for Libor rate-rigging

Deutsche Bank

German banking giant Deutsche Bank will pay a record $2.5 billion for rigging interest rates in a multi-bank conspiracy that undermined global financial markets, US and British authorities said Thursday. “Deutsche Bank secretly conspired with its competitors to rig the benchmark interest rates at the heart of the global financial …

Read More »

Deutsche Bank is finished, Lehman Brothers 2.0

Deutsche Bank

Deutsche Bank bosses face a formidable task to drag its shares off a 30-year low, with reassurances about its capital levels doing little to improve investor confidence and few other options on the table to trigger a recovery. Germany’s flagship lender has trailed its rivals in bouncing back from the …

Read More »

Deutsche Bank admits to silver market rigging

Deutsche Bank silver fixing statues

Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) …

Read More »

The gold price manipulation article the Financial Times removed

Financial Times gold

Two days ago the FT released a clear, informative and fact-based article, titled simply enough “Gold price rigging fears put investors on alert” in which author Madison Marriage, citing a report by the Fideres consultancy, revealed that global gold prices may have been manipulated on 50 per cent of occasions between …

Read More »

Deutsche Bank to close almost 200 branches, axe 3000 jobs

Deutsche Bank close branches axe jobs

Germany’s largest lender is set to shut over a quarter of its branches across the country as the company goes through a major restructuring process. The closures are set to take place over the next few months, with 188 of Deutsche Bank’s 723 branches nationwide due to close their doors. …

Read More »

Three arrested in UK over Libor rate fixing scandal

hang the bankers

The UK anti-fraud agency has arrested three men in connection with the Libor interest rate manipulation scandal that broke earlier this year. According to Britain’s Serious Fraud Office, the three British men are aged 33, 41 and 47 and are all currently living in the United Kingdom. They have been …

Read More »

Banking scandal: how document trail reveals global scam

banking scandal how document tray reveals global scam

It’s not a comfortable weekend for the men heading some of the world’s biggest banks. Barclays has already been hit by a £290m fine for rigging interest rates but that could be dwarfed by a series of global lawsuits which could cost banks billions. The interest rate rigging scandal that …

Read More »

Another Deutsche banker and SEC enforcement attorney ‘commits suicide’

Deutsche bank suicide

Back on January 26, a 58-year-old former senior executive at German investment bank behemoth Deutsche Bank, William Broeksmit, was found dead after hanging himself at his London home, and with that, set off an unprecedented series of banker suicides throughout the year which included former Fed officials and numerous JPMorgan traders. …

Read More »

Italian banks are on the brink of collapse

italian-bank-collapse-italy

There’s an old saying: “What’s sauce for the goose is sauce for the gander.” The meaning is obvious — if you insist on something for others, you have to be prepared to hold yourself to the same standard. A version of that is playing out in Europe today. And right …

Read More »