Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Deutsche Bank has agreed to a $7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis. The agreement in principle, announced by Deutsche Bank's Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was hit hard in September after it acknowledged the Justice Department had been seeking nearly twice as much.
The Dow Jones industrial average and Nasdaq hit fresh all-time highs on Tuesday and they look set to continue lighting up Wall Street on Wednesday. 2. Coke's Africa move: Coca-Cola announced Wednesday it's paying nearly $3.2 billion to Anheuser-Busch InBev to buy the beer giant's majority stake in Coca-Cola Beverages Africa.
Yuri Khilov, while head of Deutsche Bank AG's Russia equity trading desk, allegedly engaged in "large-scale" market manipulation from 2013 to 2015, using accounts that he opened in his relatives' names, according to the Russian central bank. Khilov is accused of booking trades in the name of Deutsche Bank's London office and then buying and selling stocks for his relatives within minutes, skimming the profit, the Bank of Russia said in a statement Tuesday.
Longtime reader and commenter Newdealfarmgrrrlll, who now mostly lurks, but stalks me on facebook has had a rough go of it, and I thought many of you might want to help out: I've been drowning in medical bills the last six years, and after yet another layoff two years ago and subsequent early retirement, I've depleted my savings and get constantly derailed by minor emergencies. Over a third of my monthly income goes to various debits paying down outstanding medical bills and insurance premiums.
The Department of] Housing and Urban Development has done an enormous amount of harm. My god, if you think of the way in which they have destroyed parts of cities under the rubric of eliminating slums ... there have been many more dwelling units torn down in the name of public housing than have been built."
Five top Senate Democrats say they will introduce legislation when Congress returns for its new session in January that would force Donald Trump to sell off at least some of his assets and solve his complicated conflict-of-interest problems. Trump owns hundreds of businesses and has a broad range of financial interests, from traditional investments such as stocks and bonds to large real estate holdings to licensing deals in the United States and abroad.
A Kansas bank vice president and former adviser at the U.S. Department of Homeland Security has been appointed to be state bank commissioner by Gov. Sam Brownback. On Tuesday, Brownback said he was nominating Miki Bowman, of Council Grove, to lead Kansas' regulation of state-chartered banks and trust companies, savings and loan companies, mortgage businesses, supervised lenders and money transmitters.
President-elect Donald Trump said in an interview Sunday that his executives would run his business empire alongside his children, pushing back against charges that his vast real estate holdings would pose a conflict of interest for him in the White House. Trump has said he will leave day-to-day control of his business but has not yet offered details of how he intends to separate himself.
Virginia suffered only a glancing blow from Hurricane Matthew last month when unprecedented amounts of rain fell, but on Wednesday officials estimated flood damage to be hundreds of millions of dollars, making it the costliest storm since Hurricane Isabel in 2003. Emergency management officials are now renewing calls for residents to get flood insurance, saying a vast majority of homeowners in areas vulnerable to major hurricane storm surge lack coverage.
Steven Mnuchin, president-elect Donald Trump's nominee to be treasury secretary, said Fannie Mae and Freddie Mac should leave government control and that the incoming administration "will get it done reasonably fast." The comments, which came in an interview on Fox Business, sent shares of the mortgage-finance giants soaring Wednesday.
Nov 30 Royal Bank of Scotland still faces challenges from past misconduct and bad assets, Bank of England Governor Mark Carney said on Wednesday after the British lender failed the central bank's latest stress test. The BoE ruled that RBS must boost its capital buffers, an unexpected result that underlines a litany of problems that RBS is grappling with.
Steven Mnuchin, President-elect Donald Trump's expected choice to be the nation's 77th treasury secretary, has had a long history as a successful financial executive and a shorter but significant period in a job that ushered him into Trump's inner circle: head of Trump's campaign finance operation. When Mnuchin, 53, was chosen by Trump as his national finance director in May, he told The Associated Press that the two men had been friends for 15 years.
Steven Mnuchin, President-elect Donald Trump's expected choice to be the nation's 77th treasury secretary, has had a long history as a successful financial executive and a shorter but significant period in a job that ushered him into Trump's inner circle: head of Trump's campaign finance operation. When Mnuchin, 53, was chosen by Trump as his national finance director in May, he told The Associated Press that the two men had been friends for 15 years.
Nov 29 The U.S. lawmakers who helped bring the Consumer Financial Protection Bureau into being rose to defend it on Tuesday, urging the full U.S. Court of Appeals for the District of Columbia to review a ruling that poses an existential threat to the agency. In an amicus brief, 21 current and former members of Congress said the whole court should review a decision reached by three of its judges in October that the CFPB's sole director has too much power and that the President should have power to fire the director.
U.S. banks' earnings in the July-September period jumped nearly 13 per cent from a year earlier as continued growth in lending fueled interest income. The data issued Tuesday by the Federal Deposit Insurance Corp. showed strength in the banking industry more than eight years after the financial crisis struck.
Local residents impacted by Hurricane Matthew have more time to register for assistance, so officials want everyone to get registered and know the facts about receiving aid. The deadline to register for assistance from the Federal Emergency Management Agency is Jan. 9. That's a month beyond the original Dec. 9 registration deadline.
With some in the finance industry salivating over the prospect of deregulation under Donald Trump, a key power broker is emerging who might bring headaches for Wall Street. House Financial Services Committee Chairman Jeb Hensarling has already been rumored as a potential Treasury Secretary under Trump and he's got a plan at his fingertips for ripping up and replacing the Dodd-Frank Act.
U.S. Senate candidate Loretta Sanchez holds a press conference in October to criticize the mortgage settlement made by Atty. Gen. Kamala Harris, now California's senator-elect, outside the Ronald Reagan State Building in Los Angeles.
European banks may reach faster, less costly settlements with the U.S. Department of Justice as a result of Donald Trump's unexpected triumph in the U.S. presidential election, according to Barclays Plc analysts. "Some Democrat appointments at the DoJ have only a few weeks left before they are replaced," London-based analysts Mike Harrison and Jeremy Sigee wrote in a note to clients on Friday.
The president of the five-campus University of Massachusetts system has purchased a $975,000 condo on the Boston waterfront, records show. Martin T. Meehan recently closed on a unit in the luxury Harbor Towers complex at 65 E. India Row, according to the Suffolk Registry of Deeds online database.