Deutsche Bank shares slip again in race to reach US settlement
FRANKFURT Deutsche Bank (DB.N) shares resumed falling on Monday after recovering from a record low at the end of last week, as hopes faded of a swift deal with U.S. authorities over a multi-billion dollar penalty.The German lender is throwing its energies into reaching a settlement before next month's U.S. presidential election, with the Department of Justice demanding a fine of up to $14 billion for mis-selling mortgage-backed securities.Its shares didn't trade in Germany (DBKGn.DE) on Monday..>> view originalStocks fall in early trading, led by declines in real estate
FILE - In this Friday, Nov. 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange. European stocks have started the week strongly, on Monday, Oct. 3, 2016, with British shares rising thanks to a sharp drop in the pound, which helps the country’s exporters and multinationals. The closure of German markets for a public holiday also allowed traders to take a breather from recent worries over the health of Deutsche Bank and the wider European..>> view originalBritain will launch Brexit by April , prime minister says
LONDON Britain will begin the formal process of leaving the European Union by the end of March, Prime Minister Theresa May said Sunday, seeking to ease concern about the nation's future and the threat of reduced foreign investment and the weakening of the economy. Members of the ruling Conservative Party applauded wildly as May said the British people had made it clear that they wanted a clear date for exiting the EU and that she was going to deliver. European leaders and company executives h..>> view originalWall Street pulled lower by financial, health stocks
U.S. stocks started the fourth quarter on a weak note as healthcare stocks fell and Deutsche Bank's travails weighed on financials. The German lender (DBKGn.DE) is working to reach a settlement with U.S. authorities who have demanded a fine of up to $14 billion for mis-selling mortgage-baked securities.While the bank's Frankfurt-listed stock (DBKGn.DE) was not trading due to a public holiday, its U.S.-listed shares (DB.N) were down 2.7 percent at $12.72 on Monday. The bank's woes have unsettle..>> view originalChicago to Pull $25 Million From Wells Fargo After Scandal
Chicago Treasurer Kurt Summers plans to divest $25 million the city has invested with Wells Fargo & Co. after the company admitted to opening potentially millions of bogus client accounts, joining state officials who have pulled business from the bank because of the scandal.Summers, whose office manages the city’s $7 billion investment portfolio, plans to “unwind these assets as expeditious as possible in a fashion that is prudent and will protect taxpayer money,’’ according to a statement from..>> view originalUS Auto Sales Slip in September
Updated Oct. 3, 2016 10:36 a.m. ET U.S. auto sales tapped the brakes in September, with the top three auto makers reporting declines, despite efforts to keep dealer lots stocked and lure more car shoppers with sweetened incentives. General Motors Co. GM 1.37 % reported sales slipped 0.6% to 249,795, amid a planned pullback in fleet deliveries. Retail sales, meanwhile, edged 0.3% higher to 204,449. Ford Motor Co. F 0.46 % ’s sales skidded 8.1% to 203,444, dragged..>> view originalTrump running out of time as controversies pile up
With 36 days remaining before Election Day, the real estate mogul's campaign is consumed with the fallout from a New York Times story published over the weekend that found Trump reported a $916 million loss in 1995. That loss could mean Trump went 18 years without paying federal income taxes.Those findings -- which Trump's campaign isn't disputing but haven't been independently confirmed by CNN -- would be daunting for any presidential candidate to overcome. But they're especially challenging fo..>> view originalAiling Obama Health Care Act May Have to Change to Survive
“Too many Americans still strain to pay for their physician visits and prescriptions, cover their deductibles or pay their monthly insurance bills; struggle to navigate a complex, sometimes bewildering system; and remain uninsured,” Mr. Obama wrote in The Journal of the American Medical Association.The marketplace faces a major test in the fourth annual open enrollment season, which starts on Nov. 1, a week before Election Day. In many counties, consumers will see higher premiums and fewer insu..>> view originalUS construction spending falls in headwind for third quarter GDP
WASHINGTON, U.S. construction spending fell in August for the second straight month to its lowest level in eight months, an unexpected drop driven by weakness across public and private sectors. The successive declines suggest home building might not help economic growth in the third quarter. The Commerce Department said on Monday construction spending dropped 0.7 percent in August to a seasonally adjusted annual rate of $1.142 trillion, the lowest since December 2015.Economists had expected ou..>> view originalThe hunting and fishing company Bass Pro Shops is buying Cabela's for $5.5 billion
Cabela's. Wikimedia Commons The wilderness-themed store Bass Pro Shops is buying Cabela's for $65.50 per share, or about $5.5 billion. The outdoor-recreation retailers are expected to close the deal in the first half of 2017. Bass Pro Shops is also launching a new credit-card partnership with a banking subsidiary of Capital One. Guggenheim Securities was Cabela's exclusive financial adviser, and JPMorgan was the sole financial adviser to Bass Pro Shops. Goldman ..>> view original
Saturday, October 8, 2016
Deutsche Bank shares slip again in race to reach US settlement and other top stories.
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