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Stock Market & Financial Investment News

News Breaks
February 3, 2013
15:36 EDTOPY, LCC, DBOppenheimer ordered to pay U.S Airways $30M from ARS losses
In a regulatory filing from Friday, Oppenheimer Holdings (OPY) disclosed that an arbitration panel issued an order awarding US Airways (LCC) $30M in damages, including interest and costs, on a claim of approximately $140M (adjusted down from $253M). As previously reported, in February 2009, Oppenheimer received notification of a filing of an arbitration claim before FINRA captioned US Airways v. Oppenheimer seeking an award compelling Oppenheimer to purchase approximately $253M in Auction Rate Securities,ARS, issued by Deutsche Bank( DB), and previously purchased by US Airways through Oppenheimer. The effect of the award will result in a fourth quarter after-tax charge of $17.9M. The company is extremely disappointed with the decision of the panel and will pursue its previously filed arbitration against Deutsche Bank Securities, in an effort to recover the amount of the award plus all associated costs of the case. Oppenheimer is also currently considering whether to file a motion to vacate the order.
News For OPY;LCC;DB From The Last 14 Days
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September 30, 2014
07:19 EDTDBReport says Deutsche Bank holding on to unpaid 2011 bonuses, Reuters says
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September 29, 2014
07:26 EDTDBInforma Business Information to hold a conference
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September 24, 2014
15:04 EDTDBGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
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September 23, 2014
08:34 EDTDBDeutsche Bank co-CEO, former CEOs face fraud charges in Kirch case, AP says
The Munich prosecutor's office has charged Deutsche Bank co-CEO Juergen Fitschen, as well as former CEOs Rolf Breuer and Josef Ackermann, with attempted serious fraud over allegedly misleading statements made during a lawsuit brought by Leo Kirch, reported Associated Press. Reference Link
September 22, 2014
07:49 EDTDBDeutsche Bank fires Sydney-based currency trader, FT reports
Deutsche Bank has fired Andy Donaldson, a Sydney-based currency trader, for allegedly misreporting trades, the Financial Times reports. Donaldson was suspended in June after checks uncovered "irregularities" in how his trading activities were recorded. Reference Link
September 18, 2014
07:52 EDTDBUBS Chair says litigation bigger worry than stress test, Bloomberg reports
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06:39 EDTDBEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link

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