Commerzbank announces nearly 10,000 jobs up for the chop September 29, 2016 German lender Commerzbank has today announced it will be slashing just shy of 10,000 jobs, while also halting dividend payouts to cover the cost of the latest stages of its business overhaul. Around 9,600 full-time jobs will be shed from the bank over the course of the next four years, as it starts to close down [...]
The great Deutsche Bank sale begins as bailout rumours continue to swirl September 28, 2016 Deutsche Bank sold one of its less core businesses today, prompting speculation that more asset sales are on the cards at the troubled German lender as it faces the prospect of a multi-billion pound US fine. The bank agreed to sell British insurance business Abbey Life to Phoenix, which will bring in nearly £1bn in capital. [...]
The majority of banks plan to use blockchain in the next three years September 28, 2016 The majority of banks plan on using blockchain technology in the next three years, adopting it "dramatically faster than expected", but regulation was named as the biggest barrier by global institutions. Nearly two thirds expect to have blockchain solutions by 2019, while 15 per cent of the 200 banks surveyed by IBM and the Economist Intelligence Unit expect to have something up [...]
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 [...]