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Deutsche Bank fined $204 million by British regulator FCA for serious anti-money laundering control failings

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The German lender Deutsche Bank has received a new $204 million fine for inadequate anti-money laundering controls. The British regulator Financial Conduct Authority (FCA) said Tuesday morning that Deutsche Bank exposed the U.K.’s financial system to the risks of financial crime between January 2012 and December 2015. According to the FCA, Deutsche Bank failed “to properly oversee the formation of ...

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Oil rises on dollar weakness, but ample supplies cap gains

FILE PHOTO: A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata, India November 27, 2013. REUTERS/Rupak De Chowdhuri/File Photo - RTSXE0K

Oil prices rose on Thursday, driven up by a weakening dollar, though gains were capped by plentiful supplies and bulging inventories despite efforts by OPEC and other producers to cut output to prop up the market. Benchmark Brent crude was up 50 cents a barrel at $55.58 by 0900 GMT. U.S. light crude was up 40 cents at $53.15. Traders ...

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European stocks hit three-week low as Trump reality sets in

People walk through the lobby of the London Stock Exchange in London, Britain August 25, 2015.  REUTERS/Suzanne Plunkett/File photo

European stocks and bond yields dropped on Monday and the dollar hit a six-week low after U.S. President Donald Trump began his term in office with a protectionist speech that pushed a nervous market into safe-haven assets. World stocks hit multi-year highs earlier this month on expectations Trump would boost growth and inflation with extraordinary fiscal spending measures. However, his ...

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European Stocks Steady as Banks Advance Ahead of ECB Meeting

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European stock benchmarks were little changed as investors awaited the European Central Bank’s policy meeting, when they’ll look for clues as to when the institution may begin curtailing its stimulus measures. The Stoxx Europe 600 Index rose fractionally to 363.1 at 08:14 a.m., with the banking sector climbing 0.6 percent. The Stoxx 600 has been moving sideways since the start ...

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U.K.’s Hammond Says Confident Pound Will Find Appropriate Level

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U.K. Chancellor of the Exchequer Philip Hammond said he’s confident the pound will find an “appropriate level” as Britain progresses with its plan to exit the European Union. While short-term movements in the currency “can be irritating at times,” the U.K. government has “a high degree of confidence in forex markets,”  Hammond said in an interview with Bloomberg Television’s Francine Lacqua ...

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European shares down, weighed by healthcare sector after Trump comments

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European shares fell on Thursday in early deals, weighed down by healthcare stocks after U.S. President-elect Donald Trump targeted pharmaceuticals’ drug pricing in a press conference. Europe’s healthcare sector index dropped 2.2 percent, the biggest sectoral faller, and headed for its biggest loss since November. The pan-European STOXX 600 index was down 0.5 percent. Trump on Wednesday commented on the ...

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European shares steady as Sainsbury’s soars, Cobham tanks

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European shares steadied on Tuesday in early deals, with retail stocks back in focus after a well-received update from British grocer Sainsbury, though Cobham tanked. The pan-European STOXX 600 index was flat in percentage terms, as was the blue-chip FTSE 100, which held close to a record high of 7,284.81 points reached in the previous session. Sainsbury’s was the top ...

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Europe:Theresa May is failing Brexit Britain

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When Theresa May appeared on the steps of Number Ten in her first address as Prime Minister, she seemed like a sudden moment of serenity in a chaotic post-Brexit Britain. She had reassuringly grey hair for a start. Her predecessor, David Cameron, had been just 43 when he took office. Tony Blair had also been in his 40s. May was ...

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IMF chief Christine Lagarde convicted over payout

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A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment. As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm. Lagarde, who always denied wrongdoing, was not present in court, having left France for ...

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Oil prices rise in anticipation of tighter 2017 market

An employee at a Total fuel station waits for customers in south Jakarta

Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0756 GMT, up 20 cents from their last close. U.S. West Texas Intermediate (WTI) crude ...

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