Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
charges@ (Adds details on case)
WASHINGTON, Aug 22 (Reuters) - Deutsche Bank has agreed to pay more than $16 million to settle charges that it violated U.S. corruption laws by hiring relatives of foreign government officials in order to win or retain business, the U.S. markets regulator said on Thursday.
The Securities and Exchange Commission (SEC) alleged that Germany's largest lender had hired poorly qualified relatives of foreign officials in Asia and Russia at their request, in violation of the Foreign Corrupt Practices Act.
Under the settlement, Deutsche Bank did not admit or deny the findings, the SEC said.
A spokesman for Deutsche Bank did not immediately respond to a request for comment.
According to the SEC, Deutsche Bank has taken extensive remedial measures to fix its hiring compliance and internal accounting controls.
According to the SEC, between at least 2006 and 2014, Deutsche Bank employed poorly or unqualified relatives of executives working at state-owned enterprises, with the "primary goal" of generating business for the company, such as initial public offerings.
The SEC also found that Deutsche Bank employees created false books and records that concealed corrupt hiring practices and failed to accurately document and record certain related expenses, violating books and records and internal accounting controls rules.
The $16 million settlement amount includes disgorgement of $10.8 million, interest of $2.4 million and a $3 million civil penalty, the SEC said. (Reporting by Michelle Price Editing by Leslie Adler)