The Federal Reserve has designated Deutsche Bank AG’s U.S. business in “troubled condition,” the Wall Street Journal reported here on Thursday, citing people familiar with the matter. The downgrade to […]
Germany’s largest lender Deutsche Bank said on Thursday it will cut over 7,000 jobs and dramatically scale back its investment banking activities as it tries to turn the corner on […]
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.
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.
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.
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.
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.
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.”
