Abu Dhabi Investment pockets €750m for Deutsche Annington April 15, 2015 THE ABU Dhabi Investment Authority last night sold off its remaining 14 per cent stake, or 23.5m shares, in Deutsche Annington for close to €750m. Bank of America Merrill Lynch (BAML) was the sole bookrunner for the Abu Dhabi Investment Authority on the deal. The price range for Deutsche Annington of between €30.80 and €31.79, [...]
Labour deal with Nicola Sturgeon will result in higher taxes and risks interest rate rise, warns Deutsche Bank April 13, 2015 A Labour-SNP deal after the General Election risks moving Labour even further to left with heavy tax increases, less austerity and could result in rising interest, according to Deutsche Bank. The top investment bank made the warning in an updated briefing note on the possible outcomes following the General Election. Deutsche Bank adds that no [...]
Santander and Deutsche fail US Fed stress tests March 11, 2015 TWO EUROPEAN banks have failed the Federal Reserve’s stress tests. The US central bank objected to the capital plans of the US operations of both Deutsche Bank and Santander. The Fed said its objections were made “on qualitative concerns” rather than quantitative. All the large US banks passed the tests, which were introduced in 2009. [...]
Traders at Barclays and Deutsche Bank questioned over Euribor rigging March 8, 2015 The Serious Fraud Office (SFO) is questioning former traders from Barclays and Deutsche Bank over possible Euribor rigging. According to the FT, which spoke to sources close to the matter, they are being interviewed “under caution”. This means the UK fraud investigators must have at least a reasonable suspicion of wrongdoing, and this type of [...]
Deutsche Bank left with seven per cent stake in Merlin Entertainments March 6, 2015 Deutsche Bank has been left with a seven per cent stake in London Eye and Madame Tussauds owner Merlin Entertainments, after it offloaded a chunk of the company's stock earlier this week. Shares in Merlin plummeted fro 425p to 419p after the bank issued a statement saying its holding had crossed a seven per cent [...]
Deutsche Bank’s Hewlett Packard outsourcing deal February 24, 2015 Deutsche Bank has signed a “multi-billion dollar agreement” to outsource large parts of its US banking IT infrastructure to Hewlett-Packard (HP). The 10 year deal, which mainly covers Deutsche Bank’s wholesale banking, will see HP provide dedicated data centre services with the aim of reducing infrastructure costs for the bank. Deutsche will retain activities such [...]
Labour and SNP coalition likely following 2015 General Election, says Deutsche Bank February 2, 2015 Economists at Deutsche Bank said yesterday that the UK is on track for a coalition between Labour and the SNP following May’s election – but warned that the British economy would do better in the long term under a deficit-cutting Tory government. The report says: “If the general election were to be held now Labour [...]
Deutsche delays legal bills and gains from bond trading recovery January 29, 2015 SHAREHOLDERS welcomed Deutsche Bank’s unexpectedly strong profit figures yesterday, but the troubled lender still faces more legal bills in the months ahead. Analysts had predicted the giant German institution would make a loss in the fourth quarter with legal bills of as much as €1bn (£752m). But some costs were postponed, reducing the hit to [...]
Deutsche Bank profit squashed by legal costs October 29, 2014 DEUTSCHE Bank’s turnaround efforts are being hindered by mounting litigation costs, as the giant investment bank’s profits are increasingly being used to pay the bills. It set aside another €894m (£706m) for litigation in the third quarter, pushing the bank to a net loss of €92m for the three months. In the same period of [...]
Deutsche Bank cannot rely on this trading rebound – Bottom Line October 29, 2014 Trading revenues were once the mainstay of many an investment bank, and made up the glamorous end of the City. It is always the traders who get the public’s attention. Who ever complains about City brokers or City auditors? But we might just be seeing the last hurrah for this powerful breed. Earlier this [...]