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DB Gold Double Long ETN (DGP)
- Reuters
Deutsche Bank and union reach pay deal for Postbank employees
FRANKFURT (Reuters) -Deutsche Bank's management has reached a pay deal with unions for thousands of workers at its Postbank division, putting an end to months of wrangling, both parties said on Thursday. Deutsche recently disclosed it could be on the hook for up to 1.3 billion euros ($1.39 billion) in a long-running lawsuit filed by former Postbank shareholders claiming it underpaid for its purchase of Postbank during the financial crisis. Deutsche has also been grappling with customer service problems at Postbank, resulting in the bank's regulator overseeing a clean-up and cuts in bonuses for some of Deutsche's top managers.
- Fortune
Deutsche Bank staring down $1.4 billion fine as judge rules it might have underpaid for a 14-year-old acquisition by more than half
Germany’s biggest lender got a shock when a preliminary ruling suggested it could be on the hook for a massive fine.
- Reuters
Morning Bid: Yen bounces from 160 per dollar in busy Fed-led week
A week jam-packed with major market events kicked off with some wild action in Japan's yen during a public holiday there, with a withering drop in the currency to 34-year lows of 160 per dollar meeting predictable intervention speculation that triggered an equally eye-watering rebound. With no official yen purchases yet confirmed, market chatter presumed there had been at least some shot across the bow as the currency's fall since Friday's anodyne Bank of Japan meeting threatened to go into tailspin. Japan's top currency diplomat Masato Kanda declined to comment when asked if there had been any action.
