Reuters Money: December 23, 2016

Click to View in Browser Friday, December 23, 2016 How Deutsche's big bet on Wall Street turned toxic FRANKFURT (Reuters) - Deutsche Bank's pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the extent of its decline since 2008 when its then chief executive claimed it was one of the "strongest banks in the world". Icahn regulatory role gives activist investors strong Washington voice NEW YORK/WASHINGTON/BOSTON (Reuters) - U.S. chief executives, already wrestling with a steady flow of activist investors in their board rooms, face a newly challenging landscape now that the loudest voice of the bunch will have the ear of the next president and his securities' rule makers. Trump team promises transparency regarding Icahn's advisory role WASHINGTON (Reuters) - U.S. President-elect Donald Trump's transition team on Thursday pledged proper oversights and transparency regarding billionaire and activist investor Carl Icahn's special advisory role on regulatory issues. Equity, Macro hedge funds look to bounce back from a tough year LONDON/NEW YORK (Reuters) - For some equity funds and those betting on macroeconomic trends, which together make up a large chunk of the $3 trillion global hedge fund industry's assets, 2016 has been another year to forget. Swiss Raiffeisen group pays no penalty in talks with U.S. DOJ ZURICH (Reuters) - Swiss cooperative banking group Raiffeisen has wrapped up talks with U.S. justice officials on whether it helped wealthy Americans dodge taxes and does not have to pay a fine, it said on Friday. Wall Street holiday parties are back...but don't tell anyone NEW YORK (Reuters) - Wall Street holiday parties this year took place in luxury venues like the Waldorf Astoria, featured women dressed as glowing angels, and had fine wine, scotch and bourbon on hand. Funds buy fewest U.S. 10-year notes at auction since 2014 NEW YORK (Reuters) - Large investment managers bought the fewest U.S. 10-year Treasury notes at an auction since November 2014, while they purchased nearly the same amount of 30-year Treasury bonds as they did in November, Treasury data released on Thursday showed. A volatile calm - the paradox of 2016 financial markets (Story corrects to clarify nature of transactions in ninth paragraph below crosshead) U.S.-based stock funds post $21.6 billion withdrawals during week: Lipper NEW YORK (Reuters) - U.S.-based stock funds posted $21.6 billion in withdrawals during the latest week, Lipper data showed on Thursday, adding to a trend of outflows from actively managed mutual funds that has lasted much of the year. FINRA fines Wells Fargo, others $14 million for records' changeable format NEW YORK (Reuters) - The Financial Industry Regulatory Authority said it fined several Wells Fargo & Co businesses, RBC Capital Markets, LPL Financial and others a combined $14.4 million on Wednesday for record-keeping problems that may have allowed company and customer documents to be altered. Related Video Russell Investment's Stephen Wood on why he believes stocks are too expensive Wall Street loses ground after Trump rally Related News Wall St opens little changed in light trading How Deutsche's big bet on Wall Street turned toxic Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2016 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook