Fed fines Deutsche Bank $186mn over failure to fix control flaws
German lender had pledged to deal with ‘unsafe and unsound practices’ on handling sanctions and money-launderingCentral banks, Financial & markets regulation
Wall Street banks spend over $1bn on severance costs amid sharp job cuts
Executives pay steep price to unwind overexpansion during Covid-19 pandemicInvestment Banking
Netflix’s password-sharing crackdown pays off with nearly 6mn new subscribers
Streaming service cites ‘steady progress’ towards its goal of reinvigorating growth amid fierce competitionDigital Media
UK car industry hopes £4bn Tata gigafactory electrifies the sector
Planned investment provides a boost for an industry struggling with the transition to EVsElectric vehicles, Batteries
Meta unfriends the news industry in growing rift with publishers
Facebook’s parent company downgrades current affairs on Threads app and refuses to engage with Canadian law designed to fund media groupsSocial Media
Rules around high-risk customers exposed by Farage’s spat with Coutts
Banks have been taking a cautious approach around ‘politically exposed persons’Financial & markets regulation
Goldman Sachs: pull back on owning a consumer lending business
At some point, leadership will have to decide if the bank makes another big strategic betInvestment Banking
Rishi Sunak pledges crackdown on bank ‘blacklisting’ amid Farage Coutts furore
NatWest in talks with regulators after former Ukip leader released evidence suggesting bank dropped him on political groundsFinancial & markets regulation
Nasdaq halts plans for crypto custody service
Exchange operator cites regulatory uncertainty following crackdown by US authoritiesFinancial & markets regulation
Tata/JLR: battery gigafactory is a pricey trophy UK cannot do without
What the Brexit-battered car industry really needs is a giant manufacturing plant run by a market leaderElectric vehicles, Batteries