Deutsche Bank's woes cast long shadow over European banking
Its run-in with American regulators to the tune of US$14b reignites the risk around regulation, fines and litigation
Add BT as a preferred sourceLondon
THE turmoil swirling around Deutsche Bank AG has brought simmering concerns about the health of Europe's banks back to a boil.
Germany's largest lender extended losses to a record low this week, dragging down European financial stocks, after the US Department of Justice requested US$14 billion to settle claims tied to fraudulent mortgage-backed securities. While the bank said that it won't pay anywhere close to that amount, the dust-up fuelled doubts over its capital levels and refocused investors on the industry's faults.
TRENDING NOW
QAF-owned Gardenia axes 141 staff in Singapore, shifts production to Johor Bahru
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Singapore staff first to go in Meta’s 8,000 global job cuts
Xi Jinping has just rewritten the rules of US-China rivalry
