Reuters Money: December 28, 2016

Click to View in Browser Wednesday, December 28, 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". SEC says it charges lawyer with stealing investor money in EB-5 offerings WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission charged a California lawyer on Tuesday with defrauding people who signed up for an immigrant investor program aimed at creating jobs for Americans. Stockpickers, nursing losses despite market's bull run, look to 2017 NEW YORK (Reuters) - Financial pundits shouted about record high levels for the stock market in 2016, but for actively managed stock mutual funds there was another record, one they would rather keep quiet: the largest amount of net withdrawals ever recorded. 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. 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. U.S. Justice Dept. orders whistleblower to testify in Wells Fargo probe (Reuters) - The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Fargo & Co's opening of accounts without customer permission. How JPMorgan could not save Italy's problem bank MILAN/LONDON (Reuters) - On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieval city of Siena, racing to meet the directors of the world's oldest bank to present them with a rescue plan. 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. 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. Related Video Nasdaq hits record high Wall St rises, Dow racks up 7th straight weekly gain Related News Wall Street opens higher, Dow pushes for 20,000 Abbott gets U.S. antitrust approval to buy St. Jude Medical 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