“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 [...]
Nationwide house price index: House prices grew 0.3 per cent in September but growth slowed on an annual basis September 30, 2016 House prices increased by 0.3 per cent in September, according to the Nationwide house price index. Data for the month revealed that annual house price growth slowed to 5.3 per cent, down from 5.6 per cent in August. The rate of price growth in London slowed to 7.1 per cent in the three months to [...]
Bank of England announces latest details of landlord crackdown September 29, 2016 The Bank of England's crackdown on landlords kicked up a notch this morning, with a set of tough new lending restrictions for buy to let mortgages. Threadneedle Street's banking supervision arm, the Prudential Regulation Authority (PRA), has long been concerned with the risks the UK's buy-to-let sector poses to financial stability and has again tightened [...]
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 [...]
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 [...]
AA grows revenue and earnings as it reverses decline in member numbers September 28, 2016 AA has reported an upturn in revenue and earnings for the six months to 31 July – and said membership numbers are showing positive signs of growth. The figures Trading revenue was up 2.2 per cent to £467m from £457m in the same period of last year. Operating profit was flat at £132m, while pre-tax [...]
Legal & General says it will double new business sales in retirement division in 2016 September 27, 2016 Legal & General said today that it's on track to double new business sales in its retirement division, with sales currently at £5.4bn – compared with £2.9bn for last year. The group said its retirement business "continues to experience strong growth in pension de-risking and lifetime mortgages," and demand has not been hindered by the introduction [...]
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 [...]