China may have signaled it's going more hard-line on trade, but it could be a good thing, former U.S. negotiator Clete Willems told CNBC.World Economyread more
As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
After years of speculation, Neuralink, the brain-machine interface start-up co-founded by Elon Musk, started talking directly to the public on Tuesday.Technologyread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
A key read on the industry, the Architecture Billings Index, fell into negative territory in June, according to the American Institute for Architects. Inquiries for new...Real Estateread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
Mikaila Ulmer may be just 14 years old, but the Me & the Bees Lemonade founder knows a thing or two about business.Young Successread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
Deutsche Bank will pay fines totaling $2.5 billion, and must terminate and ban certain employees who engaged in interest-rate rigging, New York State's superintendent of financial services announced Thursday.
The penalty will see the bank pay $600 million to the New York State Department of Financial Services, $800 million to the Commodities Futures Trading Commission, $775 million to the Justice Department and £227 million ($340 million) to the U.K.'s Financial Conduct Authority.
"Deutsche Bank employees engaged in a widespread effort to manipulate benchmark interest rates for financial gain," Superintendent Benjamin Lawsky said in a statement.
"While a number of the employees involved in misconduct have already left the bank, those that remain are being terminated or banned from the New York banking system. We must remember that markets do not just manipulate themselves: It takes deliberate wrongdoing by individuals."
The bank's London subsidiary will plead guilty following the investigation into the manipulation of the Libor rate—a benchmark for short-term interest rates around the world, the U.S. Justice Department said.
Read MoreLibor: CNBC Explains
The U.K.'s Financial Conduct Authority said the misconduct involved at least 29 Deutsche Bank individuals, including managers, traders and submitters, who were primarily based in London, but also in Frankfurt, Tokyo and New York.
Georgina Philippou, the agency's acting director of enforcement and market oversight, said that one division at Deutsche Bank had "a culture of generating profits without proper regard to the integrity of the market."
"This wasn't limited to a few individuals but, on certain desks, it appeared deeply ingrained," she said in a statement. "Deutsche Bank's failings were compounded by them repeatedly misleading us. The bank took far too long to produce vital documents and it moved far too slowly to fix relevant systems and controls."
Deutsche Bank is the latest in a string of banks to be hit with fines relating to the Libor scandal.