Deutsche Bank Returns to Haunt Merkel (Bloomberg)
Chastened by a series of government clashes with Deutsche Bank over the years, the lender’s financial woes are the last thing Merkel needs as she considers running for a fourth term. After a magazine article stirred speculation, Merkel’s spokesman moved swiftly to stem the notion that the lender might require state aid as the U.S. seeks a multibillion dollar fine, with negotiations opening at $14 billion. “It’s unimaginable that we would help Deutsche Bank with taxpayers’ money,” Hans Michelbach, a senior lawmaker in Merkel’s Christian Democrat-led bloc, said in an interview.
Citi Warns on Gold as Bank Boosts Odds of Trump Win to 40% (Bloomberg)
Gold may be in for a bumpy ride in the final quarter as Republican candidate Donald Trump now has a 40 percent chance of winning the presidential election and investors will be preparing for the possibility of higher U.S. interest rates, according to Citigroup Inc. Volatility in bullion and foreign-exchange markets may increase, according to a commodities report from the bank as it raised the odds on a Trump victory over Democrat Hillary Clinton in November from 35 percent. There would probably be a single U.S. hike by year-end, it said.
Perry Capital Closing Flagship Fund After Almost Three Decades (Bloomberg)
Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style of investing no longer worked. “Although I continue to believe very strongly in our investments, process and team, the industry and market headwinds against us have been strong, and the timing for success in our positions too unpredictable,” Perry wrote in the letter.
Tudor Said to Close Singapore Trading Desk Amid Global Cuts (Bloomberg)
Tudor Investment Corp., the $11 billion hedge fund founded by billionaire Paul Tudor Jones, has closed its Singapore trading desk as part of a global shakeup, according to people familiar with the matter. The firm still has staff in Singapore focusing on quantitative research, and continues to add such developers, said one of the people, who requested anonymity because the move hasn’t been publicly disclosed. Tudor had employed about 10 people in Singapore before it closed the trading desk, said the person, who declined to say how many people remain in the office.
South Memphis woman tells story of walking in on burglars having sex on her couch (WREG)
A South Memphis woman is in shock after catching two burglars having sexual intercourse in her house and ransacking the place. "It's horrible in there," said victim Jamie Barnes. "It's absolutely horrible in there. It's like they just had a big old nasty party." Barnes was surprised to see her front door open after being away for a few days, but that shock was quickly topped by what was going on inside the house on Davant Street in South Memphis. "Walk in and they're having sex on my couch," said Barnes. "I pick up my broom, I wanted to hit that man so bad." She said the man yelled, "I don't know nothing" over and over, while the woman tried to cover up. "She tried to grab one of my dresses and put it on and I snatched it from her, what are you trying to do?" said Barnes. She said the man went running. She tried to follow him but stopped when he reached an alley, while the woman, Tonka Barnes, was arrested for aggravated burglary. Barnes said the couple she saw stripped naked, also stripped her house. "They ransacked my house and stole all my stuff: jewelry, appliances, clothes," said Barnes.
U.S. Labor Department launches review of all Wells Fargo complaints (Reuters)
U.S. Labor Department Secretary Thomas Perez on Monday pledged to conduct a "top-to-bottom" review of all cases, complaints and other alleged violations that the department has received concerning Wells Fargo (WFC.N) in recent years. Perez's announcement, outlined in a Sept. 26 letter to Senator Elizabeth Warren of Massachusetts, comes after Warren and other Democrats asked the Labor Department last week to launch a probe into possible wage and working-hour law violations involving Wells Fargo tellers and sales representatives who may have stayed late to meet sales quotas.
New Snapchat surveillance specs have people freaking out (NYP)
Social media app Snapchat is facing backlash over their recently announced “surveillance specs” which can take pictures using a tiny camera. The glasses can record 10 seconds of video and are operated by tapping a button on the device. Video is then automatically uploaded to the “Memories” section of the popular app via Bluetooth or Wi-Fi. The devices have already sparked surveillance and privacy fears among social media users.
Swift Reports Summer Cyber Attacks on Three Banks (WSJ)
nterbank message carrier Swift said customers had sustained three new cyber breaches over the summer and warned that attacks on banks in the network are continuing. The company, whose systems are in the back offices of 11,000 financial institutions across more than 200 countries, issued the warnings as it rolled out new mandatory security requirements for customers.
Now It's Legal For New Yorkers To Be Buried With Their Pets (NYDN)
Brooklyn Assembly Member James Brennan added, "When this bill becomes law, owners and their pets will finally be allowed to have their pet interred with them. The pet/caregiver relationship is a very special one and I am happy that this relationship will finally be honored."