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 [...]
RBS admits no fault but settles with US regulator over selling of toxic products September 28, 2016 The Royal Bank of Scotland (RBS) has agreed to pay $1.1bn (£845m) of penalties to US authorities in order to settle claims that it mis-sold mortgage-backed securities to corporate credit unions. The US National Credit Union Administration (NCUA) announced the settlement overnight but stressed that under the arrangement the embattled British lender did not admit [...]
Shareholders regain confidence as suggestions emerge Deutsche Bank might be too big to fail after all September 27, 2016 Deutsche Bank shares finished flat today after an initial three per cent dip, as murmurs surfaced that the German giant might be too big to fail after all. Shares in the lender plunged 7.5 per cent to €10.55 yesterday, after reports over the weekend suggested German Chancellor Angela Merkel would not be prepared to offer state assistance, even [...]
As a beleaguered Deutsche Bank faces a $14bn fine, Angela Merkel has ruled out state aid, but could a bailout be on the cards? September 27, 2016 Recent discussion of possible European bank bailouts has focused on Italy. Saddled with €360bn of souring loans and enfeebled by a stagnant, over-regulated economy, a number of Italian lenders face a very real risk of insolvency. In July, the country’s third largest, Monte dei Paschi di Siena, failed a stress test set by the European Central [...]
Doom and gloom for European banks as Deutsche drags down sector September 26, 2016 Deutsche Bank cast an ominous shadow over the banking sector today, after fresh doubts over the German giant's capital position emerged, prompting investors to take flight across the sector. Investors panicked that government patience for bailouts had run dry and Deutsche Bank's share price closed down 7.5 per cent at €10.55, its lowest level since [...]
Why it’s been a very bad year to be Deutsche Bank September 26, 2016 Deutsche Bank shares plunged to a new record low today, dropping 7.5 per cent to close at €10.55, prompted by reports in Focus magazine over the weekend that German Chancellor Angela Merkel has ruled out state assistance for the bank. However, this is far from the first piece of bad news to have hit the [...]
Deutsche Bank’s share price sank to a record low today on bailout concerns September 26, 2016 Shares in Deutsche Bank have dropped by over six per cent in today's trading, to a record low of €10.67, and analysts have warned that the bank could even descend "into the realms of penny stocks". The stock's dramatic dip – to its lowest level since 1992, according to Bloomberg – may have been prompted by a recent [...]
Brexit and the City: Here are the names you need to know September 25, 2016 As rumours circulate that Article 50 could be triggered towards the start of next year, many in London are more than a little curious as to what the City will look like post-Brexit and who will be fighting to keep their best interests front and centre during the course of the negotiations. City A.M. profiles some [...]
Another knock to the Remoaners as mortgage lending boosted in August September 22, 2016 Pre-referendum fears about a housing market slump have been squashed today after the Council of Mortgage Lenders published figures showing a jump in mortgage lending in August. There was a seven per cent month-on-month rise in mortgage lending in August, CML said, with the total amount borrowed reaching £22.5bn. Lending was up 15 per cent annually, [...]
European initiative launched to push for energy efficient mortgages September 20, 2016 A European initiative which wants energy efficient homeowners to be rewarded with cheaper mortgage rates was launched today. The European Energy Efficiency Mortgage will explore the link between energy efficiency, a borrower’s reduced probability of default and the increase in value of energy efficient properties. "For banks and investors, this could lead to loans which represent a [...]