Deutsche Bank Announces $7 Billion Yearly Loss as Legal Issues Weigh on Results – The New York Times In a surprise earnings announcement, Deutsche Bank on Wednesday reported a huge yearly loss of 6.7 billion euros ($7.3 billion) as the cost of past wrongdoing continued to weigh on its earnings.
Barclays Cuts Asian Cash Equities as Axe Swings in Global Cull – Financial Times (subscription) Barclays is preparing to announce more than 1,000 job cuts across its investment bank, hitting its Asian operations particularly hard, as new chief executive Jes Staley makes his first big strategic move.
Ruble Tumbles to Record as Oil Slump Hinders Russia’s Recovery – Bloomberg The ruble slumped to an all-time low as oil’s retreat choked revenue of the world’s largest energy exporter and restricted Russia’s ability to lift its economy out of a recession.
Last Look to Remain Hot Topic in FX – MarketsMedia ParFX, the wholesale spot foreign exchange electronic trading platform, said the practice of last look was one of the most topical issues of last year and will likely remain so in 2016.
ECB Finds Global Market Turmoil Blunting QE Weapon – Wall Street Journal (subscription) Market slump could force bank to increase bond-buying or cut interest rates further.
Fears of Global Liquidity Crunch Haunt Davos Elites – Daily Telegraph Rising Fed interest rates means “liquidity could drop dramatically, and that scares everyone”, warns IMF deputy.
British Funds Body Warns Brexit Would Bring ‘Massive Disruption’ – Reuters Leaving the European Union would bring “massive disruption” to Britain’s 5.5 trillion pound ($8 trillion) mutual funds sector, which could lose market access without gaining regulatory freedom, a top industry official said.
Argentina’s New Leadership Is Kicking Evita Off Its Currency – Bloomberg So far, Argentina’s new president has jettisoned currency controls and dumped the old consumer price index. But really, ditching Evita for a four-legged animal?
FXPA Strengthens Composition, Adding Microsoft as Advisory Member – Finance Magnates The Washington-based organization representing the interests of the broader FX industry has added Microsoft to its diverse membership.
China Mulls Answer to Bitcoin With Digital Currency Study – Bloomberg China’s central bank said it is studying the prospects of issuing its own digital currency and aiming to roll out a product as soon as possible, contending that alternative payment systems can improve the efficiency of global transactions.
China Pledges to Maintain Stable Currency – Financial Times (subscription) China’s securities regulator committed Beijing to maintaining a stable currency and resisting depreciation on Thursday.