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Four Deutsche Bank Employees Indicted

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Bloomberg reports that four Deutsche Bank employees (together with the bank's South Korean brokerage unit) face trial in connection with alleged manipulation which resulted in $29bn in value being wiped from the South Korean stock market (KOSPI) one day last November.

Standard & Poor's Top Man Stands Down

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New York - Douglas Peterson, 53, currently chief operating officer of Citibank N.A., Citigroup's principal banking entity that operates in more than 100 countries, will become president of Standard & Poor's effective September 12, 2011.