Tag Archives: Deutsche Bank

On 29 January 2018, the Commodity Futures Trading Commission (CFTC) Division of Enforcement together with the Criminal Division of the US Department of Justice and the FBI announced criminal and civil enforcement actions against 3 global investment banks and 5 traders for involvement in trade spoofing in precious metals futures contracts on the US-based Commodity Exchange (COMEX). COMEX is by far the largest and most...

Following news coverage of the charging of five precious metals traders and three banks in January, Commodities Futures Trading Commission and Department of Justice documents reveal a global criminal cabal of 16 traders operating in at least four major financial institutions between 2008 and 2015 to defraud COMEX gold and silver futures markets. Of the many examples published, one reveals a UBS AG precious metals...

Nicolas Moreau, Vorstandsmitglied der Deutschen Bank und Chief Executive Officer der DWS Heute morgen feierte die DWS-Aktie ihr Debüt an der Frankfurt Stock Exchange. Sie konnte sich dem heutigen Abwärtstrend an den Aktienmärkten nicht ganz entziehen und oszillierte am Vormittag um den Emissionspreis von 32.50 Euro. Heute Freitagmorgen betrat die DWS Group GmbH & Co. KGaA (bis anhin Deutsche...

In the NZZ, Daniel Imwinkelried reports about the effect of cost pressure on the organizational structure of banks: fewer layers of control. So bestand das Schweizer Privatkundengeschäft der Credit Suisse (CS) bis vor kurzem aus drei Ebenen, nämlich zehn Regionen, den Marktgebieten und den Teams. Die mittlere Stufe wurde abgeschafft, die ehemaligen Chefs mussten die Bank verlassen oder erhielten eine neue Aufgabe. Im Schweizer Privatkundengeschäft der CS kamen einst im Durchschnitt auf...

Over the weekend, Saudi King Salman shocked the world by abruptly announcing the arrests of 11 senior princes and some 38 ministers, including Prince Al-Waleed bin Talal, the world’s sixty-first richest man and the largest shareholder in Citi, News Corp. and Twitter. The purge was orchestrated by a new “supreme committee” to investigate public corruption created by King Salman but under the control of Crown Prince...

Over the weekend, Saudi King Salman shocked the world by abruptly announcing the arrests of 11 senior princes and some 38 ministers, including Prince Al-Waleed bin Talal, the world’s sixty-first richest man and the largest shareholder in Citi, News Corp. and Twitter. The purge was orchestrated by a new “supreme committee” to investigate public corruption created by King Salman but under the control of Crown Prince Mohammed bin Salman, who chairs the committee and is widely...

World stocks eased back from record highs and fell for the first time in eight days, as jitters about Catalonia’s independence push returned while bets on higher U.S. interest rates sent the dollar to its highest since mid August; S&P 500 futures were modestly in the red – as they have been every day this week before levitating to record highs – ahead of hurricane-distorted nonfarm payrolls data (full preview here)....

Commodities King Gartman Says Gold Soon Reach $1,400 As Drums of War Grow Louder - 'Commodities King' Gartman sees $1,400 gold surge in months- "Gold is the one currency that will do the best of all..."- Pullback below $1300 "is relatively inconsequential"- Use gold price weakness to be a buyer "no question"- Bullish on gold due to central banks and easy monetary policy and gold will be even higher in euro terms- Gold will be the best of all, as a result of QE and expansionary policies-...

This week attention will fall on US FOMC rate decision, BoJ policy rate announcement, German and NZ elections. Economic data releases include PMI in the Euro area, retail sales in the UK and existing home sales in US. In Emerging Markets, there are monetary policy meetings in South Africa, Indonesia, Hungary, Taiwan and Philippines. BofA highlights the week's key global events: Central bank meetings: US FOMC and BoJ The Fed will make policy announcement on Wednesday. Balance sheet...

Three years after we first identified the former head of UBS's gold desk in Zurich as someone directly implicated in the rigging of precious metals prices, Bloomberg reports that Andre Flotron, a Swiss resident, was arrested while visiting the U.S., according to people familiar with the matter. Having been "on leave" since 2014, it appears Andre's hope that he was gone but "keen to return in due time" are now up in smoke.   As Bloomberg reports, Flotron was...