Alerts in the last 24 hours

No Personalised Alerts!

To see personalised alerts you need to be logged in.

Log In

Deutsche Bank AG Add to portfolio

STX:DBK, Aug 23, 08:37 UTC

Latest STX:DBK News

Filter your feed

Apply Filter

Today


News

Trump urges U.S. court to shield Deutsche Bank records from House Democrats

DBK DTRUMP +1 more DBK DTRUMP COF

Trump urges U.S. court to shield Deutsche Bank records from House Democrats. NEW YORK (Reuters) - Lawyers for U.S. President Donald Trump asked a federal appeals court on Friday to block Deutsche Bank AG and Capital One Financial Corp from handing the financial records of the president's family and the Trump Organization to Democratic lawmakers. Circuit Court of Appeals in Manhattan, is one of several legal battles between the Democrats, who took control of the U.S. House of Representatives in January, and the Republican president, who is seeking re-election in November 2020. Deutsche Bank has long been a principal lender for Trump's real estate business, and a 2017 disclosure form showed that Trump had at least $130 million of liabilities to the bank.

Read Full Details

Topics:
  • Business
  • Politics
  • Financial
News

U.S. fines Deutsche Bank $16 million to settle China, Russia corruption charges

DBK

The SEC also found that Deutsche employees created false books and records that concealed corrupt hiring practices and failed to accurately document and record certain related expenses, violating internal accounting rules. Under the settlement, Deutsche Bank did not admit or deny the findings, the SEC said. In 2016 JPMorgan (JPM.N) agreed to pay U.S. authorities $264 million to resolve allegations it hired the relatives of Chinese officials to win banking deals, while Credit Suisse (CSGN.S) paid $77 million to settle a similar case last year. However there have been fewer investigations of similar instances in Russia. The lender then arranged for the daughter to be given a permanent job and transferred to London, and 10 days later Deutsche Bank received a request for proposal signed by her father for a "2 billion euro Eurobond issuance", the SEC said.

Read Full Details

Topics:
  • Business
  • Financial
News

UPDATE 1-Deutsche Bank to transfer up to 800 to BNP in prime brokerage deal - source

DBK BNP

* Move is part of Deutsche's 7.4 billion euro restructuring. Deutsche Bank said in July it had struck a preliminary agreement with BNP covering the business that serves hedge funds as part of its 7.4 billion euro ($8.2 billion) overhaul, but details on personnel and the timing of any final deal were being hammered out. Deutsche Bank, which has said it aimed to conclude the effort this year, is eager to clinch a deal sooner rather than later to "provide continuity of service" to its clients. Some clients have already left Deutsche in the meantime and Barclays is looking to take on a $20 billion portion of Deutsche's prime brokerage business, sources told Reuters last month. A successful deal with BNP will mean Deutsche won't have to pay redundancy for those individuals as it seeks to shed around 18,000 from its payroll globally.

Read Full Details

Topics:
  • Business
  • Financial
News

Deutsche Bank to transfer up to 800 staff to BNP Paribas

DBK BNP

Deutsche Bank is preparing to transfer up to 800 staff to BNP Paribas as part of its retreat from investment banking, according to several people briefed on the plan. The deal will see the French lender assume control of Deutsche’s prime brokerage unit that services hedge funds, the people said, with tens of billions of euros of assets also changing hands. Last month the banks announced a preliminary agreement to “provide continuity” to Deutsche’s clients in a move that could also help BNP strengthen its presence in prime brokerage, the potentially lucrative business of lending money to hedge funds and handling their trading.

Read Full Details

Topics:
  • Business
  • Financial

Yesterday


News

U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges

DBK

U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges. WASHINGTON (Reuters) - Deutsche Bank <DBKGn.DE> has agreed to pay more than $16 million (13.05 million pounds) to settle charges that it violated U.S. corruption laws by hiring relatives of foreign government officials in order to win or retain business, the U.S. markets regulator said on Thursday. The Securities and Exchange Commission (SEC) alleged that Germany's largest lender had hired poorly qualified relatives of foreign officials in Asia and Russia at their request, in violation of the Foreign Corrupt Practices Act. According to the SEC, between at least 2006 and 2014, Deutsche Bank employed poorly or unqualified relatives of executives working at state-owned enterprises, with the "primary goal" of generating business for the company, such as initial public offerings.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Wednesday, August 21


News

Deutsche Bank tightens worldwide procedures on new hires - memo

DBK

FRANKFURT (Reuters) - Deutsche Bank <DBKGn.DE>, in the midst of a major restructuring and headcount reduction, is tightening its worldwide procedures for new hires, according to an internal memo. The memo, dated Wednesday and seen by Reuters, said that any new hires would require explicit approval from the bank's chief executive officer Christian Sewing, as well as his deputy Karl von Rohr and finance chief James von Moltke. "Hiring will be restricted to positions that are viewed as critical to the bank's success and future growth, with a greater emphasis on internal mobility and identifying tasks we can discontinue," the memo said. The bank announced in July plans to cut 18,000, or nearly one in five jobs, as part of a 7.4 billion euro (£6.7 billion) restructuring.

Read Full Details

Topics:
  • Business
  • Financial

Tuesday, August 20


News

Humbled Deutsche Bank faces battle in its own backyard

DBK

In an attempt to draw a line under years of scandals and heavy losses, Sewing is pulling back from investment banking and rebuilding Deutsche Bank's <DBKGn.DE> corporate division by deepening existing relationships and attracting clients beyond its traditional blue-chip customers. But when Deutsche has tried to expand its business with Zalando by offering to hold more of its cash for free, rather than charging a fee, Zalando <ZALG.DE> has declined. Zalando's stance indicates it could be a tough slog for Sewing, who wants corporate banking to be the soul of Deutsche Bank, just as it was when the lender was founded in 1870 a year before German unification. Since Deutsche Bank embarked 20 years ago on its ultimately failed but costly drive to become a Wall Street trading powerhouse, a lot has changed in its domestic market. At the same time, foreign banks, including U.S. giants JPMorgan <JPM.N>, Goldman Sachs <GS.N> and Morgan Stanley <MS.N>, have been making inroads while Standard Chartered <STAN.L> recently set up shop across the street from Deutsche with a view to targeting German companies. What's more, ever since the financial crisis, German companies are more likely to use multiple lenders, making it harder for Deutsche to re-establish itself as a so-called Hausbank for German corporates. Deutsche also dropped to sixth place from fifth in league tables for transaction banking between 2016 and 2018, according to Coalition, which analyses the banking industry. And in a sign companies are spreading their business around more, 22 out of 27 German companies active in deals awarded a smaller share of fees to their primary bank over the past five years than in the previous five years, according to a Reuters analysis of Refinitiv data.

Read Full Details

Topics:
  • Business
  • Financial

Monday, August 19


News

Germany 'in a technical recession,' say Deutsche Bank

DBK

“We see Germany in a technical recession, as we expect another 0.25% GDP drop in Q3,” Deutsche Bank’s chief economist Stefan Schneider wrote in a note sent to clients on Friday. Deutsche Bank’s prediction comes after data last week showed the German economy shrunk by 0.1% in the second quarter, signalling “the end of a golden decade for the German economy.”. As a result, Deutsche Bank trimmed its forecast for full-year growth in Germany to 0.3% this year and 0.7% in 2020. The investment bank warned larger downgrades to growth may be necessary if certain geopolitical factors turn against Germany. A hard Brexit, which looks increasingly likely, would damage the German economy, as would a prolonged US-China trade war that depressed Chinese demand for German imports. However, Schneider said these events were “unpredictable” and so Deutsche Bank was not building possible negative fallout from them into its economic forecasting models.

Read Full Details

Topics:
  • Business
  • Financial
News

Deutsche Bank leads European shares higher

DBK

Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. (For a live blog on European stocks, type LIVE/ in an Eikon news window) Aug 19 (Reuters) - European shares rose on Monday, extending gains from the previous session, as German stocks, led by Deutsche Bank, rallied and investors cheered plans from Germany and China to counter slowing growth. Deutsche Bank's shares jumped 3.6% and helped the DAX index climb 1.1%. Some major investors of the German bank want supervisory board chairman Paul Achleitner to step down before his term ends in 2022, a German magazine reported on Friday. Stocks across Europe were also boosted on Friday by a report that Germany's right-left coalition government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession.

Read Full Details

Topics:
  • Business
  • Financial
News

Deutsche Bank leads European shares higher

DBK

(For a live blog on European stocks, type LIVE/ in an Eikon news window). Aug 19 (Reuters) - European shares rose on Monday, extending gains from the previous session, as German stocks, led by Deutsche Bank, rallied and investors cheered plans from Germany and China to counter slowing growth. Deutsche Bank's shares jumped 3.6% and helped the DAX index climb 1.1%. Some major investors of the German bank want supervisory board chairman Paul Achleitner to step down before his term ends in 2022, a German magazine reported on Friday. Stocks across Europe were also boosted on Friday by a report that Germany's right-left coalition government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession.

Read Full Details

Topics:
  • Business
  • Financial