Now Credit Suisse chief Tidjane Thiam sounds alarm on European banks September 28, 2016 Credit Suisse boss Tidjane Thiam has today become the latest in a list of names to warn Europe's banks are not in a healthy state. His comments come as Deutsche Bank's share price is swinging widely as rumours circulate as to whether the German government would be prepared to bail out the lender. The German giant, which [...]
As you might imagine, there isn’t one just reason why Deutsche Bank is in trouble – here are the key issues it faces September 28, 2016 Anyone that has picked up a newspaper recently will know that Deutsche Bank isn’t having a great time of things at moment. Its share price has tanked, there are talks of the German government intervening, parallels to Lehman Brothers and concerns that a whole new financial crisis could be sparked if Germany’s largest bank goes [...]
NatWest’s online banking system is down September 28, 2016 NatWest's online banking system has gone down, leaving several customers unable to make payments. Users took to Twitter to complain about the lack of service. Anybody else having trouble with #Natwest lack of online banking service? — Jonathan M. Ratcliff (@JRatcliff01) September 28, 2016 https://twitter.com/mouseslatter/status/781126714776846337 Arg @NatWest_Help please sort your online banking issue. — Rebecca Brice [...]
Deutsche Bank: Where did it all go wrong? September 28, 2016 The German government could be considering a bailout for Deutsche Bank as the lender's share price falls to its lowest level since the mid-1980s and speculation over a rights issue or buyout swirl. The latest trigger has been the Department of Justice's claims for a $14bn settlement over Deutsche Bank's role in the underwriting of [...]
Germany forced to deny Deutsche Bank bailout plans September 28, 2016 The German government has denied it is considering injecting billions of euros into beleaguered Deutsche Bank, following reports from a German newspaper it was preparing an emergency rescue package. Just hours after insisting there would be no state-backed bailout of the bank, German newspaper Die Welt has revealed the government is undertaking contingency planning to assess [...]
Deutsche Bank shares have risen after Angela Merkel suggested it may be too big to fail after all September 28, 2016 Shares in Deutsche Bank rose as the market opened today, as investors reacted to a u-turn by the German Chancellor over a potential bailout of the lender. Shares had spent most of this week falling after Angela Merkel suggested the struggling bank would not receive state assistance, saying that although it faced a $14bn (£10.8bn) fine from [...]
Wells Fargo chief executive forfeits millions in wake of internal investigation into fake accounts September 28, 2016 Two leading Wells Fargo executives have agreed to forfeit $60m (£46m) over the ongoing bank account scandal as Janet Yellen came under pressure to order a break-up of the lender. Chief executive John Stumpf will forego shares worth $41m and Carrie Tolstedt, the former head of the retail division, will miss out on $19m of shares after the company board [...]
RBS admits no fault but settles with US regulator over selling of toxic products September 28, 2016 The Royal Bank of Scotland (RBS) has agreed to pay $1.1bn (£845m) of penalties to US authorities in order to settle claims that it mis-sold mortgage-backed securities to corporate credit unions. The US National Credit Union Administration (NCUA) announced the settlement overnight but stressed that under the arrangement the embattled British lender did not admit [...]
Foreign exchange fraudster slapped with 20 more months in prison for failing to cough up September 27, 2016 A London foreign-exchange fraudster has had his prison sentence extended after failing to pay a court-ordered penalty. Alex Hope – dubbed King Popper for his champagne lifestyle – was jailed in January last year for seven years for duping investors out of £5.6m. His jail term was extended by nearly 20 months today after he failing to pay a court-ordered penalty. Hope [...]
Standard Chartered share price drops on US probe into alleged bribery in Indonesia September 27, 2016 Shares in emerging market-focused bank Standard Chartered were dragged lower today after news broke that the bank is the subject of a US Justice Department investigation. US authorities are investigating the London-based bank over allegations that Indonesian power company Maxpower – owned by Standard Chartered – paid bribes to win contracts between 2012 and 2015. Shares in the bank closed down by 2.5 [...]