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Government refuses to rule out £18bn Brexit 'divorce bill'

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Downing Street has refused to rule out the possibility of the UK continuing to pay budget contributions to the EU after Britain’s departure from the bloc, as analysis suggested the country could face a €20bn (£18bn) “Brexit divorce” bill in shared payment liabilities.

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Deutsche Bank mulls IPO of asset management unit

Deutsche Bank is looking to float its asset management unit to replenish its cash buffers following a predicted multi-billion-dollar settlement with the US government over alleged miss-selling of mortgage-backed securities.