UPDATE 1-European stocks retreat from record highs, Deutsche Bank drags
Sruthi Shankar, 31 May 2021
European stocks slipped from record highs on Monday in subdued trading due to holidays in major markets, but optimism over a swift economic recovery put the benchmark index on course for its fourth month of gains.
The pan-European STOXX 600 index was down 0.1% in morning trade, with shares in Frankfurt falling 0.3% and Paris dipping 0.1%. UK and US markets are closed for a holiday, keeping trading volumes muted across the board.
Among the top drags was Deutsche Bank, down 1.8% after the Wall Street Journal reported that the U.S. Federal Reserve told the German lender it was failing to address persistent shortcomings in its anti-money-laundering controls. Continue reading “Article: UPDATE 1-European stocks retreat from record highs, Deutsche Bank drags”
About three months ago, the investing world was left reeling after retail investors proved they can beat Wall Street at its own game.
The Interpol (short for International Criminal Police Organisation) has intercepted $83 million belonging to victims of online financial crime from being transferred to the accounts of their attackers.
The Federal Reserve told Deutsche Bank AG DB 0.40% in recent weeks that the lender is failing to address persistent shortcomings in its anti-money-laundering controls, according to people familiar with the matter.
Julius Baer, the third largest bank in Switzerland, has been ordered to pay a fine of more than $40 million and forfeit another $36 million after being found to have laundered money which was paid as bribes to football officials. The financial settlement comes amid an investigation by the US Department of Justice and is part of a deferred prosecution agreement with federal prosecutors after the DOJ said that the bank purposefully laundered cash through the US “to conceal the true nature of the payments and promote the fraud”.
A gang of men has been sentenced to nearly ten years in jail after £5 million in criminal cash was seized from an apartment in Fulham. The three men were sentenced at Harrow Crown Court on Friday, May 28, after pleading guilty last year to conspiracy to conceal/disguise/convert/transfer/remove criminal property.
As food prices continue to rise, beef and pork have surged out front.
The Federal Reserve has privately told Deutsche Bank AG that its compliance programs aren’t up to snuff, signaling that the scandal-plagued bank is failing to adhere to a number of past accords with U.S. regulators, according to people familiar with the matter.
Adam Aron says he wants to increase his Twitter following to include about 1,000 more professed small-investor shareholders of the company he runs, AMC Entertainment. 
The parliamentary debate was often framed by the minister and others around the narrative that Johnny Foreigner is corrupt and a threat to our values and global stability. The Minister said that 22 individuals from six countries have been sanctioned. No doubt, there are corrupt persons all around the world, but what about home grown corruption. 
Bolivia arrested its former interior minister earlier this week over an alleged bribery and money laundering scheme that enabled a U.S.-based company to secure a government contract, the U.S. Department of Justice announced on Wednesday.
The U.S. Justice Department released the first official expenditure report for the special investigation into the origins of the FBI’s Russia inquiry — providing a rare bit of insight into the secretive review more than two years after it was begun in response to demands by then-President Donald Trump.
Chinese regulators including the central bank will crack down on manipulation of the forex market, according to a statement published on the central bank’s website on Thursday.