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Deutsche Bank slump hits hedge funds

Hedge Fund

Deutsche Bank said second-quarter revenue dropped at its prime finance unit, extending a slump beyond businesses that the lender is seeking to exit as client concerns added to volatile markets.

C Suisse in profit surprise

Tidjane Thiam

Credit Suisse, the Swiss bank which is in the middle of major restructuring, reported a surprise profit for the second quarter of 2016 on Thursday.




Illinois joins California in suspending Wells Fargo

Illinois is joining California in suspending Wells Fargo from handling “billions” of dollars in investment work and the underwriting of state debt after the company admitted to opening potentially millions of bogus customer accounts.