logo
Plus   Neg
Share
Email

Deutsche Bank To Pay $16 Mln To Settle Foreign Corruption Charges

Deutsche Bank agreed to pay $16.2 million to settle a US regulator's allegations that it hired relatives of overseas government officials to win business.

The hiring, which lasted from at least 2006 through 2014 in the Asia Pacific-region and Russia, violated US laws including the Foreign Corrupt Practices Act, the U.S. Securities and Exchange Commission said.

The company agreed to pay a $3 million fine and more than $13 million disgorgement and interest.

Separately, Deutsche Bank and the Berliner Philharmoniker said that they will extend their cooperation agreement for a further five years until 2025. The connection has existed since 1989, with this year marking the 30th anniversary.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Lowe's Companies Inc. (LOW) and Office Depot Inc. (ODP) reported profit for their fourth-quarter, while TJX Companies' (TJX) profit increased 17 percent from the prior year. TJX plans to increase dividend by 13 percent and to buy back up to $2.25 billion of stock. Starbucks is introducing plant-based meat to its menu in Canada in early March. The Seattle-based coffee chain said it will introduce a new Beyond Meat, Cheddar and Egg Sandwich to its Canadian stores on March 3, along with the launch of its new spring menu. The meatless breakfast sandwich will be part of Starbucks Canada's core menu. Auto major Ford Motor Co. issued a safety compliance recall for a total of 217,185 F-150 pickup trucks with LED headlamps in North America, including 50,989 in Canada, to fix issues with the headlamps that could increase risk of a crash. The F-150 has been the top selling U.S. vehicle by any manufacturer for more than 40 years.
Follow RTT
>