Deutsche Bank battles in court

Billionaire Nordic investor Alexander Vik appeared at a London court yesterday to begin giving evidence in his $8bn damages claim against Deutsche Bank over trades by his company Sebastian Holdings during the financial crisis. Sebastian Holdings alleges it ran up big losses after Deutsche Bank put through trades which it shouldn’t have as Sebastian’s prime broker between 2006 and 2008. Deutsche Bank has said it would vigorously defend itself against damages claims the bank said were without merit.