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Deutsche Bank AG (DB)

- NYSE
  • Jan. 14, 2013, 10:51 AM
    An otherwise not noteworthy lawsuit over interest rate swap payments to Deutsche Bank (DB) by an Indian property developer potentially gets interesting. The developer asks a U.K. judge to amend the suit to include accusations Deutsche manipulated the Libor rate. If granted, it will become the 2nd civil lawsuit in the U.K. linked to the Libor case.
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  • Jan. 14, 2013, 8:17 AM
    Deutsche Bank (DB) is reportedly considering cutting its 2012 bonus pool by 20%, which would mirror the reduction floated earlier from Credit Suisse. Again, banking business is sluggish and regulators/investors want to see banks not awarding bonuses for short-term performance boosts which could blow up in the future.
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  • Jan. 10, 2013, 5:46 AM
    Deutsche Bank (DB) reportedly generated a profit of at least €500M in 2008 from trades pegged to inter-bank interest rates, although there's no indication that those trades affected the market or were illegal. The bets show the rewards and risks involved: the bank calculated that of September 30, 2008, it could earn or lose up to €68M for each 0.01 percentage point change in the spread between different rates related to Libor and Euribor.
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  • Jan. 8, 2013, 8:59 AM
    Deutsche Bank (DB) slashes its forecast for WTI crude by 10% to $90/barrel, with the key being increased supply from U.S. shale production. Toss in minimal OPEC production curbs and slowish economies, and "implied inventory builds ... could be sizable."
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  • Jan. 7, 2013, 4:04 AM
    Credit Agricole (CRARF.PK) leads major European banks higher, rising 4.7% after regulators ease Basel liquidity rules, followed by Deutsche Bank (DB) +4.3%, Unicredit (UNCFY.OB) +4.3% and Barclays (BCS) +3.7%. Also, SocGen (SCGLF.PK) +3.4%, HSBC (HBC) +0.75%, Lloyds (LYG) +1.9%, Santander (SAN) +2%, RBS (RBS) +1.5%, UBS (UBS) +2% and Credit Suisse (CS) +3.4%. Italy's Banca Monte dei Paschi di Siena (BMDPY.PK) +15%.
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  • Dec. 19, 2012, 12:14 PM
    Are Jefferson County and a dozen other U.S. municipalities listening? In Italy, Deutsche Bank (DB), JPMorgan (JPM), and UBS are among the 4 banks fined €1M each and having employees sent to prison for fraud in the sale of derivative products linked to a Milan bond issue. The case could be a precedent-setting one as cases involving other local Italian governments are in the works.
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  • Dec. 19, 2012, 7:10 AM
    Following a 5-month 43% move higher in the EUFN, the European financial sector is upgraded to Neutral from Sell at Credit Suisse. Earlier this week, Meredith Whitney turned bull on the U.S. financial sector after its torrid 2012 run.
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  • Dec. 18, 2012, 4:30 AM
    Under-pressure Deutsche Bank (DB) co-CEO Jürgen Fitschen attracts further heat after he calls a senior politician to complain about a police raid on the bank's HQ last week. Political leaders accuse Fitschen of trying to influence a probe into the bank for the possible fraudulent trading of carbon emissions. Fitschen is one of 25 bank staff under investigation for tax evasion, money laundering and attempted obstruction of justice.
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  • Dec. 13, 2012, 7:59 AM
    Deutsche Bank (DB) sees a "significant negative impact" on Q4 earnings from various items, including restructuring costs and valuation adjustments to certain assets. The company also sets up its bad bank (called the "Non-core operations unit"), targeting €122B of assets for it. Shares -2% premarket. (PR)
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  • Dec. 13, 2012, 3:12 AM
    Deutsche Bank (DB) co-CEO Jurgen Fitschen and CFO Stefan Krause have been caught up in an investigation into whether staff attempted to avoid sales tax on carbon trading. Authorities are looking into whether Fitschen and Krause were involved with the signing of certain tax forms. Bank offices in Frankfurt, Düsseldorf and Berlin were raided yesterday and five people arrested, although not Fitschen or Krause.
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  • Dec. 12, 2012, 5:48 AM
    Prosecutors investigating a tax-evasion scheme involving the trading of carbon permits raid Deutsche Bank's (DB) Frankfurt headquarters. The search follows DB suspending a number of staff in October after a judge criticized the bank last year during a trial over the tax evasion.
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  • Dec. 7, 2012, 7:24 AM
    Owners of Japanese stocks can take comfort that these sorts of things happen a lot closer to the bottom than the top: Deutsche Bank has halted equity coverage on 11 of 27 Japanese industries. Along with the move comes a further paring of the bank's headcount in Japan.
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  • Dec. 7, 2012, 3:55 AM
    BaFin, the German bank supervisor, reportedly attended audit committee meetings at Deutsche Bank (DB) during 2008-09, when the firm failed to recognize up to $12B of trading losses that could have forced it to seek a bailout. News that BaFin may have known about the valuations could spark tensions with the SEC and make it more difficult for the U.S. agency to bring a case against Deutsche Bank.
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  • Dec. 5, 2012, 5:14 PM
    More on Deutsche Bank (DB) (previous): Robert Khuzami, head of enforcement at the SEC, has recused himself from any investigation as he was general counsel for Deutsche's U.S. operations during the time in question. Current general counsel Dick Walker used to hold Khuzami's job at the SEC.
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  • Dec. 5, 2012, 5:03 PM
    Attempting to avoid a bailout during the financial crisis, Deutsche Bank (DB) - with knowledge of senior executives - hid about $12B in losses on a massive derivatives trade, according to three former employees. The complaints - made to regulators including the SEC - were all made independently of each other over the past two years. Deutsche says the allegations are old news and an investigation has found them to be "wholly unfounded." Shares -3.5% AH.
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  • Dec. 3, 2012, 3:37 AM
    UBS (UBS) is reportedly nearing an agreement with U.K. and U.S. authorities to pay over $450M to settle allegations that it manipulated global inter-bank interest rates, including Libor. The amount would top the $450M that Barclays paid to settle accusations over its role in the rate rigging, and could increase the possibility that other banks such as RBS (RBS) and Deutsche Bank (DB) will face large fines as well.
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Company Description
Deutsche Bank AG is an investment bank. It offers investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world.
Sector: Financial
Country: Germany