Deutsche Bank to cut 3,500 jobs as quarterly profit plunges 30% on hit to US real estate
Deutsche Bank said Thursday it plans to cut 3,500 jobs after reporting a 30% drop in fourth-quarter profit that included significant losses on its U.S. real estate holdings. The job cuts come after Germany’s leading bank hired 300 front office staff in the three months to December 31, but the company’s CEO Christian Sewing said […]
City National Bank is fined $65 million for risk control lapses – Los Angeles Times
City National Bank was fined $65 million by federal regulators Wednesday for failing to maintain adequate risk management and internal controls, including those related to money laundering. The bank, long known as L.A.’s “Bank to the Stars” for its close ties to the entertainment industry, has entered into a civil consent order with the Office […]
Not just NYCB: Japanese bank issues warning on U.S. offices, cutting some Chicago loans by 63%. – MarketWatch
The Japanese bank has slashed the value of some of its U.S. office loans by more than 50% following a profit warning from New York Community Bancorp that was at least partly due to a deterioration in the office loan market. Aozora Bank Stock 8304, -21.49% The company fell 21%, making it the worst performer […]
Deutsche Bank smashes profit estimates and boosts shareholder returns – CNBC
The German lender also announced plans to increase share buybacks and dividends by 50%, returning a total of 1.6 billion euros to shareholders. Deutsche said it plans an additional 675 million euros in share buybacks, which it aims to complete in the first half of this year. This follows his €450 million share buyback in […]
Tunisia wants to borrow billions from its central bank to address deficits. Experts call that risky
TUNISIA, Tunisia (AP) — Cash-strapped Tunisia wants to take the unprecedented step of borrowing billions of dollars from its central bank to address its budget deficit and bandage its economic crisis. However, experts have warned that the measures could lead to inflation and reduce confidence in the system. Parliament’s Finance Committee held an emergency meeting […]
Shares plunge for saviour of failed Signature Bank – Financial Times
Stay informed with free updates Just sign up for us bank myFT Digest — delivered straight to your inbox. New York Community Bancorp’s stock price plummeted Wednesday after the financial company that acquired the failed Signature Bank during last year’s regional banking turmoil cut its dividend and reported an unexpected loss in an effort to […]
Israeli commandos raid West Bank hospital while disguised as doctors, Muslim women and kill 3 Palestinian militants: Report
On Tuesday, Israeli special forces disguised as a doctor and a Muslim woman raided a hospital in the West Bank, killing three Palestinian militants. Reuters reportedThis was reported by witnesses and authorities. What are the details? The Israeli military said the attack on Ibn Sina Hospital in Jenin was a joint covert operation carried out […]
Grandmother loses life savings and sues bank – NBC Southern California
It was a dark time for Alice Lin. Lin, 80, told the NBC4 I-Team that she lost more than $700,000 of her life savings because someone befriended her through text messages. “The past year or so has been really tough, and my goal is to survive,” Lin explains. In 2022, Lin struck up a conversation […]
Americans' bank accounts are stabilizing after inflation shock – The Washington Post
comment on this storycomment Add to saved stories keep After the whirlwind of the pandemic, Americans' bank accounts are stabilizing. Most households still have more money in the bank than they did in 2019, but as they readjust their spending to keep up with inflation and other post-COVID-19 realities, The balance remains flat. analysis 8.6 […]
Bank knew I spent cash on yacht, homes
Billionaire investor sued for defaulting on $56 million business loan, claims bank knew he was using the cash to pay for divorce, buy yacht and splurge on luxury home and insisted that they should withdraw. Dan Burrell, 45, of Aspen, Colorado, was arrested by First Western Bank in November 2023 for failing to repay an […]