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 [...]
Deutsche Bank share price stays flat despite €92m loss on legal costs October 29, 2014 Deutsche Bank has posted a net losses of €92m (£72.6m) for the three months to the end of September, with pre-tax income of €266m. The third-quarter loss stems from the legal costs of settling a number of investigations, and compares to a €51m profit during the same period last year. Alleged misconduct by [...]
Deutsche Bank fined £4.7m for misreporting market transactions August 28, 2014 BRITAIN’S financial watchdog yesterday fined Deutsche Bank £4.7m for wrongly reporting a number of market transactions for nearly six years. The Financial Conduct Authority said in a statement that the bank had failed accurately to report its contract-for-difference (CFD) equity swaps, totalling £29m, it executed between November 2007 and April 2013. CFDs allow a buyer [...]
Deutsche Bank fined £4.7 million by FCA for failing to report transactions correctly August 28, 2014 Another day, another fine. This time it's Deutsche Bank which has received a slap on the wrist, to the tune of £4.7m, for incorrectly reporting transactions. The Financial Conduct Authority handed out the penalty just a day after handing RBS a £15m fine over mortgage mis-selling. Deutsche Bank failed to properly report nearly 30 million [...]
Barclays and Deutsche Bank offices could be monitored in forex market fixing probe July 30, 2014 Regulators want to place government monitors in the offices of Barclays and Deutsche Bank in the US as part of an investigation into alleged currency price fixing on the forex market. The New York Department of Financial Services wants to monitor the current and historical operations of the banks, the Wall Street Journal reports. The [...]