Fell by 11 percent on monday after the weekend announcement that the bank had filed fraud claims with police and regulators the Indian Central Bank says they discovered that nearly all of their half 1000000000. 00 loan to sean was diverted after taking a closer closer look at the bar was books in the wake of the seans bankruptcy p. N. P. Has been under scrutiny for lax lending since seeming to lose nearly 2000000000. 00 the bank lent to the companies of the fugitive financier and former celebrity jeweler miramonte and mr modis uncle. Bank begins its a radical overhaul on monday as it exits its Investment Banking and Trading Operations and lets go 20 percent of its workforce the struggling lender is splitting off 74000000000. 00 euros of its assets in an attempt to focus and invest its core units and Retail Banking and european corporate clients the 8300000000. 00 Restructuring Plan is the largest in the banks history as it intends to come. At its risk weighted assets by 40 percent this
Us a hand to check in on the turbulence facing the english airline showed today the lets go and die right in. A dismissal by president ial decree for the governor of Turkeys Central Bank leads our global report today as president crosses a new line in his push for lower Interest Rates the turkish president s move was announced on saturday which named Deputy Governor murat ois sall to the top post while mr statement cited no reason for the firing the turkish president newspaper to her yet claims that he told legislators from his ruling party what may already surmised the president by the governor because he rebuffed mr push for lower Interest Rates the turkish lira was down by more than 2 percent in Early Morning trading on monday on the news also on monday ill leave public on a Founding Member of the a k party who effectively held the governments economic portfolio for over 10 years said that he is founding a new rival political movement. Another banking irregularity news indias Punjab
Crisis and allows bank to free up capital that can then be used to bolster off its financial strength dva currently has 40 3. 00 trillion euros in gross derivative notional and they would be hard pressed to ringfence all of that toxic asset into a modest 74000000000. 00 euro silo deutsche is the latest bank to fail fall from grace after earlier this year 3 banks on 3 different continents failed indicating that there is a systemic problem and that a new Global Crisis could be brewing and with more of the latest details just tell you publicize wind down or meltdown is international regular regulatory attorney miles edwards. So miles door to bank right now is arguably europes Biggest Investment Bank right up there with barclays banking analyst Stephan Wyler recently said this. When we were in rio maybe facing and the financial crisis of the next years i dont believe it but its coming its not for. Bank generally is the overall banking which means that the bank will force all kinds of produ
From china to vietnam. And european markets look like this at the open. Well get an expert view on whats moving the numbers, and what to watch in the trading day ahead. And well get the inside track on life after rugby. Two former saracens rugby players have brewed up second careers after spotting a gap in the market for craft lager. Today we want to know do you eat at your desk . I do. Hands up. Keyboard crumbs, noisy crunching and strong smells are winding up even the most easygoing of colleagues. So, what do you think is acceptable . Let us know just use the bbcbizlive. Hello and welcome to business live. Sally bundock and her conflicts in the morning, thats all im saying we start with a hearing in europes top court, which could have huge implications for hundreds of thousands of companies with european operations. In a landmark case, the European Court ofjustice in luxembourg will decide whether the way facebook transfers personal data to the us should be outlawed. The court will h
Decision to move the Central Bank Governor. It could undermine the regulators independence. Diluting the case for cuts. Asian stocks and u. S. Futures fly. Morgan stanley cuts its Global Equities allocation to the lowest in five years on concerns about elevated valuations and profit headwinds. New democracy problems. Greeces centerright party leader takes over as Prime Minister abe and am quite election victory, but will his as Prime Minister after his election victory. I have a strong mandate to deliver on my agenda. Which is an agenda to grow the economy, to create more jobs, but also to make sure that people feel safe again. Manus a warm welcome to bloomberg daybreak europe. Deutsche bank is the most read it has all changed. Read headlines coming through. There is an news ceo. Withp is named as ceo immediate effect. He was brought in to take over from the previous dealmaker. He is the new ceo, effective september 1, part of the longterm Succession Planning. What else can until you .