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News Breaks
June 25, 2014
06:38 EDTDB, CRARY, BNPQY, UNCFFPotential penalty against BNP Paribas worries other European banks, WSJ says
A potential penalty of $9B against BNP Paribas (BNPQY) is causing fear and worry for other European banks who are also under investigation for doing business in countries subject to U.S. sanctions, reports the Wall Street Journal. According to industry officials, some at Deutsche Bank (DB), UniCredit (UNCFF) and Credit Agricole (CRARY) are now bracing for larger than expected penalties to resolve investigations into alleged violations. Reference Link
News For BNPQY;DB;UNCFF;CRARY From The Last 14 Days
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May 29, 2015
09:57 EDTDBTop labor leader supports Deutsche Bank co-CEO Anshu Jain, Reuters reports
Alfred Herling, a top supervisory board member at Deutsche Bank, says a workers council acted alone in calling for the resignation of Anshu Jain as the bank's co-CEO, Reuters reports. Herling comments, "This didn’t happen with the agreement of the general- or group-wide workers council, and it doesn’t have to. As such, neither does it reflect the view of all the works councils in our bank." Reference Link
07:05 EDTDBSEC commissioner decries Deutsche Bank penalty as too light, NYT reports
SEC commissioner Kara Stein dissented to the commission's decision to give Deutsche Bank a waiver allowing the bank to keep all the advantages of being a “well-known seasoned issuer” despite the criminal conviction of one of its subsidiaries for manipulating Libor, reported The New York Times. In the dissent, published by the SEC along with its decision, Stein wrote that "the egregious criminal nature of the conduct and the duration of the manipulation weigh heavily in my mind when considering this waiver...Additionally, Deutsche Bank is a recidivist, and its past conduct undermines its current promise of future good conduct.” Reference Link
06:09 EDTDBLabor reps call for resignation of Deutsche Bank co-CEO Jain, Reuters reports
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May 28, 2015
15:49 EDTDBGeneral Electric retains Deutsche Bank to sell Interbanca, Reuters reports
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May 26, 2015
11:30 EDTDBDeutsche Bank settles SEC charges over misstated reports for $55M
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08:19 EDTUNCFFUniCredit's Ukraine offices searched by security services, WSJ reports
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May 22, 2015
09:47 EDTBNPQYBNP Paribas reviewing global markets business in U.K., WSJ reports
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May 21, 2015
06:13 EDTDBDeutsche Bank announces co-CEO Jain to assume direct oversight of strategy
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May 19, 2015
06:15 EDTDBDeutsche Bank explores moving parts if UK leaves EU, Financial Times says
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May 18, 2015
19:20 EDTDBDeutsche Bank retail chief to quit after disagreement, Reuters says
Rainer Neske, Deutsche Bank's head of retail banking, is set to resign because he disagrees with the company's restructuring program, reports Reuters, citing unnamed industry sources quoted by Handelsblatt. Reuters notes that the restructuring involves selling the Postbank retail business, increasing investments in equities and wealth management, and divesting up to $169.65B in investment bank assets. Reference Link
16:09 EDTBNPQYCnova enters liquidity service agreement with Exane BNP Paribas
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06:58 EDTDBDeutsche Bank co-CEOs won't step down, Reuters reports
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