How Deutsche’s big bet on Wall Street turned toxic
FRANKFURT (Reuters) – Deutsche Bank’s pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the extent of its decline since 2008 when its then chief executive claimed it was one of the “strongest banks in th…
Oil slips below $55 as dollar, Libyan production boost weigh
LONDON (Reuters) – Oil slipped below $55 a barrel on Friday as a stronger U.S. dollar weighed on commodities and as higher Libyan output threatened to counter some of the supply cuts planned by OPEC and other producers.
Deutsche Bank agrees to $7.2 billion mortgage settlement with U.S.
NEW YORK/FRANKFURT (Reuters) – 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.
Credit Suisse agrees $5.3 billion U.S. mortgage settlement
ZURICH (Reuters) – Credit Suisse had agreed in principle to pay U.S. authorities $2.48 billion to settle claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the Swiss bank said on Fr…
U.S. sues Barclays, ex-executives for mortgage securities fraud
NEW YORK (Reuters) – The U.S. Department of Justice on Thursday sued Barclays Plc and two former executives on civil charges of fraud in the sale of mortgage-backed securities during the run-up to the 2008-09 financial crisis.
Where’s the Reddi-wip? ConAgra lowers product profile during shortage
CHICAGO (Reuters) – Reddi-wip, the top-selling U.S. ready-made whipped cream, is going into hiding for the holidays.
Goldman names former DuPont CEO Kullman to board of directors
(Reuters) – Goldman Sachs Group Inc named former chair and chief executive officer of E.I. du Pont de Nemours and Co Ellen Kullman to its board of directors, according to a filing made public on Thursday.
Retailers weigh on Wall Street, Dow 20,000 slips away
(Reuters) – U.S. stocks fell on Thursday, weighed down by weakness in retailers, as investors stepped back from a recent rally fueled by optimism that President-elect Donald Trump will invigorate economic growth.
U.S. consumer spending slows; business investment perking up
WASHINGTON (Reuters) – U.S. consumer spending increased modestly in November as household income failed to rise for the first time in nine months, suggesting the economy slowed in the fourth quarter after growing briskly in the prior period.
Airbus seals deal with Iran for sale of 100 aircraft
PARIS (Reuters) – Europe’s Airbus signed a firm contract on Thursday to sell 100 jets to IranAir, completing a return by Western plane giants and paving the way for deliveries to start next month, a year after sanctions against Iran were lifted.
