US hits Germany’s biggest bank with $186 million fine
The penalty follows Deutsche Bank’s failure to address its money laundering control issues The US Federal Reserve said on Wednesday it has fined Germany’s Deutsche Bank and its US affiliates…
US banks increase reserves for commercial real estate risks
US banks and other lenders are tightening their standards for new loans and scrutinizing existing ones, as well as increasing their reserves in preparation for potential losses in the commercial…
US interest payments on debt outpace annual defense spending
The US government interest payments on the Federal debt are now higher than the annual defense spending. This is most likely the beginning stage of a trend, and unless no…
China’s ongoing battle
China’s biggest state-owned banks are selling dollars in attempt to slow yuan’s rapid depreciation, according to Reuters. Also an easing of cross-border financing rules was announced, making it easier for…
CRE Dominos Fall: Starwood Defaults On $212.4 Million Atlanta Office Tower
Starwood Capital Group has defaulted on a $212.5 million mortgage backed by an office building in Sandy Springs, an ultra-wealthy suburb in northern Fulton County, Georgia, just above Atlanta. The…
Europe still cannot go without Russian gas, IEA warns
The European Union has sufficient gas reserves for the winter but could face a shortage next year if Russia cuts supplies further, Reuters reported, citing a fresh report by the…