This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-37605222
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Deutsche Bank 'fails to reach swift US deal' | Deutsche Bank 'fails to reach swift US deal' |
| (about 7 hours later) | |
| Deutsche Bank shares dropped in early trade on reports that its boss failed to reach a swift deal with the US over lowering a $14bn (£11.3bn) fine. | Deutsche Bank shares dropped in early trade on reports that its boss failed to reach a swift deal with the US over lowering a $14bn (£11.3bn) fine. |
| The lender was the biggest faller on Germany's main stock market before paring back the losses. | The lender was the biggest faller on Germany's main stock market before paring back the losses. |
| Talks between chief executive John Cryan and the US Department of Justice ended without agreement at the weekend, according to reports. | Talks between chief executive John Cryan and the US Department of Justice ended without agreement at the weekend, according to reports. |
| The bank has been under intense pressure over the size of the fine. | The bank has been under intense pressure over the size of the fine. |
| Mr Cryan was in the US for the International Monetary Fund and World Bank's autumn meetings. | Mr Cryan was in the US for the International Monetary Fund and World Bank's autumn meetings. |
| Some investors had hoped that while he was there, he might negotiate down a settlement for the bank's mis-selling of mortgage-backed securities. | Some investors had hoped that while he was there, he might negotiate down a settlement for the bank's mis-selling of mortgage-backed securities. |
| Others, though, said it was always unlikely the bank could strike a deal with the US authorities so quickly. | Others, though, said it was always unlikely the bank could strike a deal with the US authorities so quickly. |
| 'Talks continuing' | 'Talks continuing' |
| Michael Hewson, chief market analyst at CMC Markets, said: "Deutsche Bank hasn't as yet been able to come to any agreement with the US Justice Department as it looks to overcome the hurdle of the prospect of a rather large fine. | Michael Hewson, chief market analyst at CMC Markets, said: "Deutsche Bank hasn't as yet been able to come to any agreement with the US Justice Department as it looks to overcome the hurdle of the prospect of a rather large fine. |
| "Talks are continuing while the bank looks at potentially spinning off a stake in its asset management division in order to free up some extra capital." | "Talks are continuing while the bank looks at potentially spinning off a stake in its asset management division in order to free up some extra capital." |
| Terry Torrison, managing director at McLaren Securities, said the bank was "never going to sort out the US issues that quickly". | Terry Torrison, managing director at McLaren Securities, said the bank was "never going to sort out the US issues that quickly". |
| Deutsche Bank's shares touched 33-year lows at the end of September, before recovering slightly in recent days, over fears its finances are not strong enough to handle a large US fine. | Deutsche Bank's shares touched 33-year lows at the end of September, before recovering slightly in recent days, over fears its finances are not strong enough to handle a large US fine. |
| The bank declined to comment on reports Mr Cryan had failed to reach a deal. The share price recovered to close slightly up by the end of trading. |