Deutsche Bank Tally of Suspect Russia Trades at $10 Billion (Bloomberg)
Deutsche Bank AG has identified as much as $4 billion in suspicious transactions related to its Russian operations, in addition to $6 billion in so-called mirror trades it is examining, said several people with knowledge of the bank’s review of the matter. That means the Frankfurt-based bank flagged as much as $10 billion in total trades that may not have been vetted for money laundering as clients moved money out of Russia.
Credit Suisse Claims UBS Has Been Poaching Its Brokers (WSJ)
Credit Suisse filed an arbitration claim recently with Wall Street’s self-regulator, the Financial Industry Regulatory Authority, alleging that UBS Wealth Management Americas unfairly raided its U.S. private-banking business over the past several months, a person familiar with the matter said. Roughly 70 of 300 brokers from Credit Suisse’s U.S. private-banking division left for UBS in recent months, the person said.
Guns, Jail and Coffins Are Big Stocks for This Virginia Investor (Bloomberg)
“He’s not going to discriminate just because it’s guns and it happens to be socially unacceptable in some circles,” said Bruce Gottwald, who went to the Virginia Military Institute with Goddard, was an early London client and a former chairman of its biggest holding, chemicals maker NewMarket Corp. “They let their emotions get involved. And Steve’s not going to let that play a big role in his decision-making.”
The sobering millionaire view of economy in 2016 (CNBC)
Less than half of millionaires (46 percent) believe the S&P 500 will be up by 5 percent to 10 percent next year, according to the Fall 2015 CNBC Millionaire Survey, representing a slight decline from the Spring 2015 survey. But significantly more millionaires think the S&P will be flat in 2016: 25 percent vs. 17 percent last spring.
So You Can Exchange Driving Lessons For Sex In Holland (HP)
After debate over the controversial practice came up in a recent parliament meeting, minister of security and justice Ard van der Steur and infrastructure and environment minister Melanie Schultz van Haegen gave their interpretation: Offering driving lessons for nookie did not equal prostitution "since sex was not being sold," Dutch News reported. But the opposite, a student offering sex for driving lessons, was a no-no.
Carlos Slim Is Biggest Loser in World's Top 400 Richest People (Bloomberg)
Since the start of 2015, the Mexican executive’s fortune has declined almost $20 billion, or about the size of Honduras’s economy, to $52.8 billion, according to the Bloomberg Billionaires Index.
Singapore Stock Losses Set to Rival Greece in 2015 (Bloomberg)
Singapore’s stocks are set for a 15 percent tumble this year, putting them in the same league as Greece. Baring Asset Management Ltd. and UBS Group AG say shares need to get even cheaper before they’re prepared to buy.
SEC Appeals Process on the Slow Track (WSJ)
Since Mary Jo White became SEC chairman in April 2013, the median time for the agency to decide appeals of its in-house judges’ decisions has increased to 19 months, the analysis found. That is almost double the median times under her two main predecessors, Christopher Cox and Mary Schapiro.
Zamboni driver at teen hockey game charged with drunk driving (UPI)
A Zamboni driver at a teen hockey game in Manitoba was arrested and charged with driving while impaired after damaging the ice rink. Ste. Anne Police said officers responded to a report of a driver of a Zamboni ice resurfacer displaying "erratic behavior" Saturday night at the Sainte-Anne Arena during a game between two teams of boys ages 13-14. "He was banging up against the boards and missing areas and it was evident something was wrong," Ste. Anne Police Chief Marc Robichaud told Global News.