Back down it goes: Deutsche Bank share price drops in US October 3, 2016 Deutsche Bank's US-listed shares have fallen three per cent, just hours after the market opened. Shares in the German bank plummeted last week, after various reports emerged doubting Chancellor Angela Merkel's appetite for state assistance, despite the lender facing a potential $14bn (£10.8bn) fine from the US Department of Justice (DoJ) for mis-selling mortgage-backed securities. However, [...]
The great Deutsche Bank sale begins as bailout rumours continue to swirl September 28, 2016 Deutsche Bank sold one of its less core businesses today, prompting speculation that more asset sales are on the cards at the troubled German lender as it faces the prospect of a multi-billion pound US fine. The bank agreed to sell British insurance business Abbey Life to Phoenix, which will bring in nearly £1bn in capital. [...]
Wells Fargo CEO quits role as adviser to Federal Reserve September 23, 2016 The head of Wells Fargo has stepped down from his role as an adviser to the US Federal Reserve amid the ongoing scandal over its creation of unauthorised bank accounts. Chief executive John Stumpf resigned his position on the advisory council of the San Francisco Fed, which consists of banking chiefs and is designed to guide policymakers, [...]
Mike Ashley appointed Sports Direct CEO as Dave Forsey quits with immediate effect September 23, 2016 Mike Ashley has taken over as chief executive of Sports Direct after Dave Forsey quit his role at the top of the scandal-hit company yesterday. Shares in the company were up 4.5 per cent mid-morning. Ashley will take over the role with immediate effect, with Forsey set to sever all ties with the company after a short [...]
Over-50s specialist insurer Saga posts increased profit and says Brexit vote has not hurt business September 21, 2016 Insurer for the over-50s Saga has reported an 8.5 per cent increase in profits for the six months to 31 July. The figures Pre-tax profit was up 8.5 per cent to £109.9m from £101.3m, while trading profit ticked up slightly to £117.6m from £117.5m. Earnings per share rose 8.2 per cent to 7.9p from 7.3p. [...]
Apple handed €13bn tax bill over “sweetheart” Irish deal by EU August 30, 2016 Brussels is forcing Apple to pay back billions of euros in taxes after the competition watchdog ruled the tech giant broke antitrust laws by agreeing a so-called sweetheart tax deal in Ireland. Apple has been handed a tax bill of up to €13bn (£11.1bn) by the European Competition Commission following a two year investigation into its arrangements in Ireland led by [...]
Pensions experts welcome news of Sir Philip Green’s BHS top up August 29, 2016 Pensions experts have given the thumbs up to news Sir Philip Green could be stumping up a substantial sum for the ailing BHS pension pot. It was reported over the weekend that Green, who has been working with Magic Circle outfit Linklaters and Big Four firm Deloitte to design a deal with the Pensions Regulator, could be writing a [...]
How the latest Clinton email twist lays bare the miserable choice Americans have to make August 26, 2016 Hillary Clinton’s email scandal just can’t seem to die. Good; it shouldn’t. On Wednesday, the Associated Press (AP) broke news that “more than half the people outside the government who met with Hillary Clinton while she was secretary of state gave money – either personally or through companies or groups – to the Clinton Foundation.” [...]
Brazilian Senate votes to open impeachment trial against President Dilma Rousseff August 10, 2016 The Brazilian Senate has voted to open an impeachment trial against suspended President Dilma Rousseff. Rousseff was suspended in May over alleged accounting discrepancies. She is accused of breaking Brazil's budget laws by implementing government spending without approval from Congress. Her opponents state she used unauthorised loans from state banks to improve the economic picture [...]
Sir Philip Green blasts MP Frank Field over “kangaroo court” BHS inquiry July 31, 2016 Sir Philip Green, the former boss of BHS, has shot back at Frank Field, the MP leading the inquiry into the collapse of the high street retailer, accusing him of turning it into a "kangaroo court". The latest saga in the tiff follows Green's threat of legal action over comments Field made about the retail tycoon following a [...]