New York state penalizes Deutsche Bank US$150M for Epstein dealings

NEW YORK -- Deutsche Bank has agreed to pay $150 million to settle claims that it broke compliance rules in its dealings with the late sex offender Jeffrey Epstein, New York state announced Tuesday.

The penalty was announced in a release by Superintendent of Financial Services Linda A.

See Full Article


Latest Economic News

  • Ottawa small business could be out nearly $100,000 after falling victim to suspected fraud

    Economic CTV News
    OTTAWA -- An Ottawa small business says they are out $70,000 worth of personal protective equipment as a result of what appears to be fraud. Orleans Janitorial Supplies sold an order of gloves totalling $99,971 to what they thought was the Gatineau Hospital. Source
  • Hudson's Bay's flagship store in Toronto remains open despite lockdown

    Economic CTV News
    TORONTO -- The Bay’s flagship location on Queen Street remains fully open today despite orders for non-essential retailers to close their stores to in-person shopping in Toronto and Peel Region. Toronto and Peel Region officially entered a 28-day lockdown on Monday, forcing restaurants, gyms, and non-essential stores to close to slow the spread of COVID-19. Source
  • GM to recall about 7 million pickups, SUVs for faulty air bag inflators

    Economic CBC News
    General Motors will recall about seven million big pickup trucks and SUVs worldwide to replace potentially dangerous Takata air bag inflators. The announcement came Monday after the U.S. government told the automaker it had to recall six million of the vehicles in the U.S. Source
  • CRA warns 213,000 Canadians that they might have to pay back CERB overpayments

    Economic CBC News
    The Canada Revenue Agency says it's warning about 213,000 Canadians who may have been paid twice through the Canada Emergency Response Benefit (CERB) program that they could be called upon to repay the money. But repayment isn't required right away, says the agency. Source
  • Online shopping set to hit record this year in Canada

    Economic CTV News
    OTTAWA -- Statistics Canada says online sales are set to hit a record this year, amid limits on in-person shopping during the COVID-19 pandemic. The new data is in line with Statistics Canada's estimates from the spring, when retail e-commerce sales more than doubled from February to May. Source
  • Bank of Canada keeping close eye on household debt as pandemic drags on, deputy says

    Economic CTV News
    OTTAWA -- One of Canada's top central bankers says the Bank of Canada is keeping a close eye on household debt that were already elevated before COVID-19. The Bank of Canada had warned that a recession could easily strain the financial system and the debt load being carried by households. Source
  • Loblaw expands launch of PC Health app, offering access to nurses, dietitians

    Economic CTV News
    BRAMPTON, ONT. -- Loblaw Companies Ltd. is expanding the launch of its mobile health and wellness app, a free digital tool the company says will help Canadians navigate the health-care system. The grocery and pharmacy retailer said Monday it's making the PC Health app available to download in Ontario, British Columbia and Alberta after an initial roll out in Atlantic Canada last month. Source
  • Quebec judge orders Hudson's Bay to pay rent to landlords at multiple shopping malls

    Economic CTV News
    MONTREAL -- A Quebec judge has ordered Hudson's Bay Co. to pay rent at several of its department stores in the province, saying the retailer cannot take the law into its own hands. In separate rulings issued Friday, Justice Katheryne Desfosses granted safeguard order applications made by shopping mall landlords Cominar Real Estate Investment Trust, Oxford Properties Group and Dorval Property Corporation. Source
  • Germany will require companies to put women executives on their boards

    Economic CTV News
    Germany's coalition government has agreed to a mandatory quota for women on the boards of listed companies in what's being hailed as a landmark moment for Europe's biggest economy. Listed companies with management boards of more than three executives must appoint at least one woman to the C-suite, according to a statement Friday by Germany's ministry for family affairs, senior citizens, women and youth. Source
  • Loblaw to give autonomous delivery vehicles test run in Toronto area

    Economic CBC News
    Loblaw Companies Ltd. has signed a partnership deal with technology company Gatik to test autonomous delivery vehicles in Toronto starting in January. Under the multi-year agreement, Gatik will transport goods from an automated picking facility to retail locations across the Greater Toronto Area. Source