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| How Deutsche's big bet on Wall Street turned toxic |
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| FRANKFURT (Reuters) - Deutsche Bank's pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the extent of its decline since 2008 when its then chief executive claimed it was one of the "strongest banks in the world". |
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| Banks lift global stocks, dollar holds near 14-year peak |
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| LONDON (Reuters) - European stocks edged higher on Friday, helped by banks after two regional bellwethers settled investigations into U.S. mortgage securities, while oil and the dollar were on the back foot in light trading ahead of the Christmas break. |
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| Icahn regulatory role gives activist investors strong Washington voice |
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| NEW YORK/WASHINGTON/BOSTON (Reuters) - U.S. chief executives, already wrestling with a steady flow of activist investors in their board rooms, face a newly challenging landscape now that the loudest voice of the bunch will have the ear of the next president and his securities' rule makers. |
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| Credit Suisse agrees $5.3 billion U.S. mortgage settlement |
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| ZURICH (Reuters) - Credit Suisse had agreed in principle to pay U.S. authorities $2.48 billion to settle claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the Swiss bank said on Friday. |
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| Putin says Russian economy is on the mend |
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| MOSCOW (Reuters) - Russia's economic contraction is slowing, capital flight is fading and real wages are starting to recover, President Vladimir Putin said on Friday. |
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| American Apparel closes 12 of its 13 British stores |
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| LONDON (Reuters) - Nearly all the UK stores of U.S.-based clothing brand American Apparel, which went into administration in Britain last month, have closed, with the loss of 147 jobs, administrators KPMG said on Friday. |
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| Volkswagen reaches deal with 80,000 U.S. 3.0-liter vehicle owners |
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| WASHINGTON (Reuters) - A federal judge said on Thursday that Volkswagen AG has reached an agreement in principle to provide "substantial compensation" to the owners of about 80,000 3.0-liter polluting diesel vehicles, a key hurdle to resolve the German automaker's emissions scandal. |
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