Deutsche Bank share price yo-yoing as investors await fine news October 4, 2016 Deutsche Bank's shares clipped a two-week high earlier this morning before dipping back down, as investors anxiously await news on a potential mega-settlement with the US Department of Justice (DoJ). The bank's shares are currently trading up 0.7 per cent at €11.64. However, at one point this morning, they reached €11.98, perhaps helped by JP Morgan boss Jamie Dimon [...]
Back down it goes: Deutsche Bank share price drops in US October 3, 2016 Deutsche Bank's US-listed shares have fallen three per cent, just hours after the market opened. Shares in the German bank plummeted last week, after various reports emerged doubting Chancellor Angela Merkel's appetite for state assistance, despite the lender facing a potential $14bn (£10.8bn) fine from the US Department of Justice (DoJ) for mis-selling mortgage-backed securities. However, [...]
Europe’s banking woes are inherently political October 3, 2016 We live in a time of political absurdity. At home, the opposition is led by an unreconstructed 1970s-style Marxist who spent the last three decades as a backbench irrelevance. Throughout continental Europe, extremist parties remain worryingly popular. And across the pond, there is a genuine threat that Donald Trump, a dangerously reactionary authoritarian megalomaniac, could get [...]
Deutsche Bank’s woes signal the fall of the House of Merkel October 3, 2016 “And the deep and dank tarn closed silently over the fragments of the House of Usher.” – Edgar Allan Poe With mighty Deutsche Bank, the largest lender in Germany and symbol of the country’s economic might, in dire straits, Germans are belatedly waking up to the nightmarish reality that the supposedly masterly inactivity of their wildly [...]
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 [...]
“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 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 [...]
Before the bell: What you need to know before the US market open September 29, 2016 Oil has given up some of its gains after the first Opec deal to curb supply in eight years sent it higher last night and it's not just Deutsche Bank that's in trouble as Commerzbank announces nearly 10,000 jobs are set to go. Here's what you need to know before the US market open at 2:30pm [...]
Chancellor Philip Hammond to close Help to Buy mortgage guarantee scheme at end of 2016 September 29, 2016 Chancellor Philip Hammond has confirmed that he will be closing the Help to Buy mortgage guarantee scheme at the end of this year. In a letter to Bank of England governor Mark Carney, he said the scheme's purpose has been "successfully achieved" and he will close it to new loans at the end of 2016. [...]
The number of mortgage completions made through Help to Buy fell year-on-year in June September 29, 2016 The number of mortgage completions made with the government's Help to Buy scheme has fallen by eight per cent year-on-year in June, according to figures from the Treasury. Completions made through Help to Buy reached 3,118, a monthly increase of 27 per cent. Read more: Government Help to Buy Scheme under fire over deposit clauses [...]