Deutsche Bank

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Paramount Loses $450M Funding Deal

The failure is part of a larger trend as liquidity dries up

(Newser) - A $450-million deal with Deutsche Bank that would have financed up to 30 films for Paramount is off the table, the Financial Times  reports. Perhaps an unlikely casualty of the credit crunch, Paramount walked after a lack of enthusiasm in the market led to terms that were unattractive, persons familiar...

Deutsche Bank Posts $220M Loss&mdash;First in 5 Years
Deutsche Bank Posts $220M Loss—First in 5 Years
Earnings REPORTS
Apr 29, 2008 6:41 AM CDT

Deutsche Bank Posts $220M Loss—First in 5 Years

German bank loses $220M on billions in writedowns

(Newser) - Deutsche Bank posted its first quarterly loss in 5 years today, reflecting the impact of the credit crisis on its investment banking activities. Germany's largest bank reported a net loss of $220 million and admitted that the short-term outlook for the firm remained highly uncertain. Deutsche also took $4.2...

No More Expense-Account Hookers for Deutsche Bank

Hotel porn, first-class travel take hit as credit crunch hits home in Germany

(Newser) - In a sign of just how bad the credit crisis has become, Deutsche Bank has forbidden its employees from using expense accounts to pay for brothel visits and hotel porn, the Independent reports. It's unclear if execs have been seeking relief from subprime woes—the German giant has written down...

Clear Channel, Buyers Sue Banks Over Soured Deal

Equity firms claim lenders backtracked on financing takeover of broadcast giant

(Newser) - The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by...

Oil Insanity Pinned to Speculators
Oil Insanity Pinned to Speculators
Feb 28, 2008 5:54 PM CST

Oil Insanity Pinned to Speculators

Observers call current market 'hysteria' — and 'bubble'

(Newser) - Crude-oil prices have doubled in recent months, a development not linked to fundamental supply and demand—but rather, observers tell Der Spiegel, to rampant speculation among investors looking for a stable buck. The prospect of recession would typically drive prices down, but analysts say a decade-old oil investment rush by...

NY Subpoenas Wall Street Heavies in Subprime Probe

Cuomo looking into firms' risk assessment

(Newser) - Several high-profile Wall Street firms that packaged and sold subprime mortgages have been subpoenaed by New York prosecutors, the Wall Street Journal reports today. Merrill Lynch, Bear Stearns, and Deutsche Bank—among others—will be asked to explain how the offerings were reviewed before they were sold to investors, and...

Financials Drag Dow Down
Financials Drag Dow Down
MARKETS
Dec 3, 2007 3:38 PM CST

Financials Drag Dow Down

Good vibes on mortgage deals steady markets

(Newser) - Bad news in the financial sector today meant the first bearish day for the market in five sessions, as Deutsche Bank’s negative prediction for fourth-quarter earnings pushed Morgan Stanley, Merrill Lynch, and Lehman Brothers downward. The Dow fell 57.15 to 13,314.57, the Nasdaq slid 23.83...

Heads Roll in FDNY After Deadly Fire

Three officials demoted after blaze kills 2 in uninspected building

(Newser) - Three top FDNY officials were demoted today in the wake of the Deutsche Bank fire that claimed the lives of two firefighters. The August 18 blaze has been blamed on careless smoking, but the department neglected required inspections on the condemned building. The commissioner also ordered inspections of all construction...

Top Banks Borrow $2B From Fed
Top Banks Borrow $2B From Fed
Aug 23, 2007 5:12 AM CDT

Top Banks Borrow $2B From Fed

Bid to encourage other banks to borrow to shore up credit markets

(Newser) - America's biggest banks—Citigroup, Bank of America, J.P.Morgan Chase and Wachovia— have borrowed a total of $2 billion from the Federal Reserve at the government's so-called discount window. It's an attempt to shore up the faltering credit markets by encouraging smaller banks to borrow from the Fed without...

Fire Probe Focuses on Pipe Failure
Fire Probe Focuses on
Pipe Failure
Aug 20, 2007 10:24 AM CDT

Fire Probe Focuses on Pipe Failure

Water supply under scrutiny in deadly blaze near Ground Zero

(Newser) - A broken standpipe may have crippled the battle against Saturday's Deutsche Bank tower blaze near Ground Zero. Water filled the basement as flames on higher floors raged, the Times reports, and water from the hose connected to the suspect standpipe apparently didn't reach past the fifth floor. Firefighters spent precious...

2 Die in Fire at Ground Zero
2 Die in Fire at Ground Zero
Aug 18, 2007 9:50 PM CDT

2 Die in Fire at Ground Zero

(Newser) - Two firefighters died in a blaze that broke out this afternoon in a skyscraper being demolished at the edge of ground zero in Lower Manhattan. The fire broke out in the partially dismantled Deutsche Bank building, which had been vacant since 9/11, condemned because health officials ruled that it was...

Risk-Averse Euro Markets Retreat
Risk-Averse
Euro Markets
Retreat
Aug 15, 2007 7:42 AM CDT

Risk-Averse Euro Markets Retreat

Subprime mortgage damage, uncertainty continue to spread

(Newser) - European markets plunged today over worries about the spreading subprime mortgage crisis. Analysts downgraded UBS and Deutsche Bank, which dropped, and all 14 open Western European exchanges lost ground, echoing the Asian markets' earlier retreat. "There's a lot of uncertainty about what's going on and who has lost money...

International Banks Face Trial in Italian Court

Morgan Stanley, others indicted in wake of Parmalat bankruptcy

(Newser) - Four gold-plated investment banks have been ordered to stand trial for alleged market manipulation for their roles in advising Italian dairy giant Parmalat, which declared bankruptcy in 2003. Italian prosecutors say Morgan Stanley, Deutsche Bank, UBS, and Citigroup allowed Parmalat to manipulate its finances, helping it to defraud investors even...

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