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Deutsche Bank AG

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  • *Legal reserves at 4.8 bln euros, contingent liabilities up. FRANKFURT, April 26- Deutsche Bank's earnings fell by half in the first quarter, a greater-than-expected drop as hefty legal charges eroded gains in investment banking revenue, while it prepares to unveil details of a strategic overhaul. Deutsche has so far positioned itself as Europe's "last man...

  • FRANKFURT, Germany— Deutsche Bank says net profit fell to 559 million euros in the first quarter as legal penalties ate into stronger revenues from trading stocks and bonds. Last week the bank said that it had agreed to pay penalties of $2.175 billion to the U.S. Justice Department, the Commodity Futures Trading Commission and the New York Department of...

  • FRANKFURT, April 25- If running a global bank is complicated, cutting one back is even more difficult. Deutsche Bank faces a long and costly battle, analysts say, to sell Postbank and pare investment banking, the new strategic goals it outlined late on Friday. Germany's flagship lender comes late to restructuring after European rivals such as Barclays and Credit...

  • FRANKFURT, April 24- Deutsche Bank will cut back investment banking, sell its Postbank retail chain via a public share offering and reduce costs, the group said late on Friday, in a restructuring plan designed to boost profits. Germany's largest bank is under pressure to revive its performance as new regulations, legal headaches and weak markets eat into returns...

  • Germany's Deutsche Bank changes tack on Postbank Friday, 24 Apr 2015 | 6:12 PM ET

    BERLIN— Germany's Deutsche Bank AG says it plans to "deconsolidate" its Postbank retail banking unit, in which it has held a majority since 2010.. Germany's biggest bank said after its supervisory board met Friday that it also envisions investing in its transaction banking, asset and wealth management and retail businesses. Deutsche Bank agreed this week to pay...

  • April 24- Slowing sales of Biogen Inc's key oral multiple sclerosis drug Tecfidera and a delay in a data readout for its keenly watched Alzheimer's drug sent the company's stock down as much as 8 percent on Friday. If Tecfidera's U.S. trajectory does not improve, Biogen's revenue growth may come in at the lower end of its previously issued forecast, Chief...

  • *Euro zone banks best relative value since 2012- Barclays. LONDON, April 24- European banking shares, shunned by investors after the lenders accrued a spate of expensive fines and were hit by restrictive new regulation, are attracting interest again as the outlook for lending improves and valuations look to be bottoming out. Morgan Stanley and Goldman Sachs said...

  • April 24- Sales of Biogen Inc's key oral multiple sclerosis drug Tecfidera fell on a sequential basis in the first quarter for the first time since its launch in 2013, sending the company's stock down as much as 8 percent on Friday. If Tecfidera's U.S. trajectory does not improve, Biogen's revenue growth may come in at the lower end of its previously issued...

  • LONDON, April 24- Deutsche Bank's expected move to sell much of its retail banking business will see it join a growing list of banks choosing to shrink and simplify to survive. HSBC has already sold or shut 77 businesses and could yet dispose of big operations in Brazil or Turkey. Credit Suisse's incoming CEO Tidjane Thiam is expected to slash trading operations...

  • Tecfidera raked in sales of $824.9 million in the first quarter ended March 31, compared with $506 million a year earlier, but missed consensus projections of about $931 million, according to Deutsche Bank. We saw moderating patient growth of Tecfidera in the United States and Germany, Chief Executive George Scangos said in a statement. Net income attributable...

  • LONDON, April 24- AstraZeneca is getting a $450 million windfall by letting Celgene develop a prized immunotherapy drug for blood cancers but its chief executive insists the deal is about strategy, not cash. Chief Executive Pascal Soriot, however, said he had been looking for a partner in blood cancers since last year and by teaming up with U.S.-based Celgene, a...

  • FRANKFURT, April 24- Deutsche Bank's supervisory board gathered on Friday to review a sweeping restructuring plan to cut back investment banking and dump the Postbank retail chain to restore profitability. The strategy decision, which may be announced as early as Friday evening, takes place under a cloud after U.S. and British authorities on Thursday imposed...

  • Electrolux Q1 profit falls less than expected Friday, 24 Apr 2015 | 3:32 AM ET

    Home appliances maker Electrolux reported a smaller-than-expected fall in first-quarter earnings on Friday.

  • The findings echo results from earlier this week in Reuters surveys of more than 250 economists in Europe and North America who also expect more easing. The Reuters surveys across Asia, which bring the total number of forecasters polled above 300 globally this week, found nearly all central banks in the region, with a few exceptions such as New Zealand and South...

  • WASHINGTON, April 23- The U.S. Justice Department has sued Quicken Loans Inc for filing false claims on government-insured mortgages and other violations. The complaint, filed in the U.S. District Court for the District of Columbia on Thursday, said the company improperly originated and underwrote mortgages insured by the Federal Housing Administration.

  • WASHINGTON, April 23- The U.S. Justice Department has sued Quicken Loans Inc for filing false claims on government-insured mortgages and other violations. The complaint, filed in the U.S. District Court for the District of Columbia on Thursday, said the company improperly originated and underwrote mortgages insured by the Federal Housing Administration.

  • FRANKFURT, April 23- Germany's financial watchdog is expected to finish its own investigation into the activities of Deutsche Bank's traders in May or June and a supervisory source said it would incorporate the findings of authorities in the United States and Britain. London, New York and Washington imposed a combined record fine of $2.5 billion on Germany's...

  • LONDON, April 23- Deutsche Bank traders sent casual messages to colleagues politely asking them to rig global interest rate benchmarks, as a six-year criminal campaign of fraud became routine practice at Germany's biggest bank, British regulators said on Thursday. While other banks have already been implicated in rate rigging- including Britain's Barclays,...

  • LONDON/ NEW YORK, April 23- U.S. and British authorities fined Deutsche Bank $2.5 billion, accused Germany's largest lender of obstructing regulators and ordered it to fire seven employees in the eighth global settlement of alleged benchmark interest rate rigging. U.S. regulators fined Deutsche Bank $2.12 billion and UK watchdogs imposed a $340 million...

  • European shares end mostly lower, Ericsson tanks Thursday, 23 Apr 2015 | 11:30 AM ET
    Paris cafe with Eiffel Tower in background

    Euro zone equities finished largely lower on Thursday, as investors digested earnings news and economic data.