AFP Deutsche Bank once epitomised the best of Germany’s financial sector, shining brightly as the European economic powerhouse’s biggest lender. But this week its share price slid to new lows, fuelling concerns about the health of the institution, with some even questioning if it has a long-term future and the IMF moved to see it as a “systemic” risk …

  AP An ex-executive at a New York investment bank has admitted to defrauding investors of more than US$38 million, blaming it on his gambling addiction. Andrew Caspersen pleaded guilty to securities and wire fraud in federal court in Manhattan. Prosecutors say he scammed clients of PJT Partners Inc into investing millions of dollars in sham private equity investments. They …

  AP The president of Puerto Rico’s Government Development Bank is resigning less than a week after the federal government passed measures to aid the US territory’s dire finances. Melba Acosta said she’ll step down July 31 to focus on her professional career. She directs a bank that issues loans to government agencies and is responsible for overseeing Puerto Rico’s …