Deutsche Bank's planned reorganization of trade operations also includes the creation of a bank of “bad” assets, the Financial Times reports, citing sources. In the course of the reorganization, trading in stocks and derivatives at interest rates outside of continental Europe can be significantly reduced or completely closed. The investment banking business will be phased out gradually, and the main efforts of the bank will be aimed at improving operational services and asset management of wealthy clients. Currently, the question of how much assets will be transferred to the bank of “bad assets” is being discussed. These will mainly be long-term assets, the amount of which may be about 50 billion euros, which corresponds to about 14% of Deutsche Bank's balance sheet. It is expected that the CEO of the bank, Christopher Seving, will announce the reorganization at the end of July, when the semi-annual report will be published.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
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On Friday, Axios Media Inc. reported a document acquired by tech watchdog group Tech Transparency Project which indicates that multiple U.S. states were investigating Apple (AAPL) due to deceptive trade practices. According to the report, ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...