Activist investor Driver Management presses anew for First United Bank to sell itself

(Reuters) – Driver Management Company LLC, an activist investor focused on U.S. banks, renewed calls on Wednesday for First United Corp (FUNC.O), the holding company for Maryland community bank First United Bank & Trust, to sell itself. First United’s shares have traded at a significant discount to its regional banking Continue Reading

Deutsche Bank to cut 18,000 jobs in 7.4 billion euro overhaul

FILE PHOTO: The Deutsche Bank headquarters are seen in Frankfurt, Germany October 29, 2015. REUTERS/Kai Pfaffenbach/File Photo FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender The bank will also scrap its global Continue Reading

Bank of America to stop financing operators of private prisons, detention centers

FILE PHOTO: A Bank of America logo is seen in New York City, New York, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo (Reuters) – Bank of America Corp said on Wednesday it will no longer finance operators of private prisons and detention centers, joining peers in distancing itself from a Continue Reading

Investment bank environment still very fragile says UBS

FILE PHOTO: The logo of Swiss bank UBS at the company’s headquarters in Zurich February 10, 2015. REUTERS/Arnd Wiegmann//File Photo ZURICH (Reuters) – Investment banking conditions have improved over recent months but remains “very fragile,” UBS Chief Executive Sergio Ermotti said on Thursday, adding the Swiss lender’s own business was Continue Reading

Hard for Xi, Trump to make progress on trade: former China central bank chief

BEIJING (Reuters) – China’s President Xi Jinping and U.S. President Donald Trump are likely to find it “difficult” to make major progress toward ending their countries’ trade war when they meet at a G20 summit in Japan in June, a former top Chinese official said on Friday. Containers are seen Continue Reading

Bank staff flagged Trump, Kushner transactions for watchdog: NYTimes

WASHINGTON (Reuters) – Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog, the New York Times reported on Sunday. FILE PHOTO: U.S. President Donald Trump Continue Reading