Deutsche Bank slump triggers banks crisis across globe as shares nosedive

Deutsche Bank slump triggers banks crisis across globe as shares nosedive
 

Stock in the bank plunged on Friday morning, after its US-listed shares fell by more than eight percent overnight amid news hedge funds had pulled business away from Deutsche.
Shares slumped after reports that around 10 hedge funds had withdrawn some excess cash and adjusted positions held at the bank because of its problems.
Deutsche is disputing a fine of up to £10billion from the US Department of Justice over a mortgage scandal with Berlin refusing to help the ailing lender. 
A small subset of the bank’s hedge fund business have moved to other firms this week, according to an internal... read more

 
30 September 2016 in Business, Views: 40
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