‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Fresh rumours emerge about bailout-ability of Deutsche Bank October 2, 2016 Fresh speculation over whether the German government could feasibly offer aid to Deutsche Bank has emerged in the country's media over the weekend. The bank's shares plummeted last week after reports emerged suggesting German Chancellor Angela Merkel would not be prepared to provide state assistence, even as the lender faced a potential fine of $14bn [...]
About turn: Deutsche Bank shares leap in New York as rumours of a DoJ settlement swirl September 30, 2016 New York-listed shares in Deutsche Bank have jumped on reports the giant bank could be about to agree a $5.4bn (£4.2bn) settlement with US regulators after a dramatic day of trading on European markets. Shares jumped 14 per cent in lunchtime trading in the US, as rumours circulated suggesting it will pay significantly less than the [...]
What will your bank be called after RBS restructures? September 30, 2016 Royal Bank of Scotland Group (RBS) customers could see the name of their bank change, when the lender restructures to comply with UK ring-fencing regulations. RBS today set out its plans for the reshuffle – here's what the group is moving, and what the new entities will be called. RBS becomes Adam & Company… but not [...]
“Forces in the market want to weaken us”: John Cryan seeks to reassure Deutsche Bank staff September 30, 2016 Deutsche Bank shares edged back over the €10 mark in mid-morning trading after chief executive sought to reassure staff in a company-wide memo. In the document, Cryan suggested the bank was strong and hit out at "speculators" for causing wild swings in the company's share price. "Our bank has become the object of heavy speculation – renewed rumours [...]
Deutsche Bank shares plunge to new record low in fresh morning turmoil September 30, 2016 Deutsche Bank shares have crashed another eight per cent this morning as the German stock markets opened for trading. The lender was plunged into fresh turmoil last night as a string of key clients said they were cutting back on the amount of assets they store with the lender, raising fears some in the market [...]
Royal Bank of Scotland reveals plans for new structure to comply with UK ring-fencing requirements September 30, 2016 Royal Bank of Scotland Group (RBS) has set out its plans to restructure in order to comply with UK ring-fencing regulations. Legislation requiring the separation of essential banking services from investment banking services will take effect from 1 January 2019. RBS said today that in order to be compliant with its requirements, "we need to [...]
Deutsche Bank US share price plunges after reports suggest funds have lost faith in the lender September 29, 2016 Troubled financial giant Deutsche Bank saw its shares plummet again in New York last night, dragging Wall Street into the red. The German lender's New York-listed stock dived after reports emerged that several key funds have slashed their exposure to the bank. The news sent shivers through banking sector equity markets, with the S&P 500's financial [...]
The new sick man of Europe is the continent’s entire banking sector September 29, 2016 The “sick man of Europe” has been a popular phrase for describing countries in Europe beset by economic woes since the mid-nineteenth century. The UK, Italy, Germany, France and Greece, among others, have all borne this unwanted diagnosis at some point. But in 2016, this moniker can no longer be solely applied at a country level. [...]
The UK’s investment industry has more assets than France, Germany and Italy combined September 29, 2016 London’s position as Europe’s premier financial hub was laid bare again today with the latest statistics on the UK’s dominant fund management industry. The Investment Association (IA), which represents investment firms based in the UK, found there are more assets under management (AUM) in the UK than France, Germany and Italy combined, and nearly 100,000 jobs [...]
Watchdog reveals new plans for taping bankers’ calls as it announces potential tweaks to incoming red tape September 29, 2016 The City watchdog has today revealed proposals to bolster a critical piece of incoming red tape, including extended plans for taping bankers' phone calls. The Financial Conduct Authority (FCA) has published its third consultation paper on the implementation of the revised Markets in Financial Instruments Directive, which is due to come into force in January 2018, and is a [...]