Deutsche Bank

Deutsche Bank has agreed to pay $630 million in fines for organizing $10 billion in sham trades that could have been used to launder money out of Russia, the latest in a string of penalties that have hammered the German lender's finances.

German Deutsche Bank has agreed to pay a fine of USD 630 M to regulators in the USA and Great Britain as penalty for not being able to prevent suspicious deals for USD 10 M.

This is the amount that was practically laundered outside of Russia, reported Reuters.

Credit Suisse and Deutsche Bank have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe's leading investment banks as they struggle with weak earnings.

Italy's biggest bank, UniCredit, announced plans on Dec. 13 to slash 14,000 jobs and raise billions of euros in fresh capital as the country gets to grips with political instability and a banking crisis.

A jury trial against Turkish-Iranian businessman Reza Zarrab that was scheduled to begin on Jan. 23, 2017, has been suspended until Oct. 16 after the judge in the fraud case ruled that the defendant's legal team required extra time to prepare for an additional indictment regarding Zarrab's alleged ties to Hezbollah.

The 18th annual Greek Investor Forum takes place on December 12 at the Metropolitan Club of New York, organized by Capital Link in association with the New York Stock Exchange. Guest of honor at the event will be Wilbur Ross, senior financial adviser to the new president and future secretary of commerce.

Deutsche Bank and Bank of America were swindled by Turkish-Iranian businessman Reza Zarrab, the office of Manhattan Attorney Preet Bharara, who is the lead prosecutor against the controversial figure, has alleged.

Germany's Deutsche Bank is financially sound and doesn't have any problem other than the US demanding it pay up to $14 billion in fines for miss-selling mortgage-backed securities, ECB Governing Council member Yannis Stournaras said on Tuesday.

Greece is facing the spectre of reliving the economic drama of 2015, when the country suffered a liquidity suffocation, after an anonymous European Commission source revealed to Bloomberg, Friday, that the IMF would not participate in the Greek bailout program before the 2017 German elections.

September deducted 2.05 percent from the value of the Greek bourse's benchmark as Friday was another day of decline for the majority of blue chips.