• Business Highlights

    12 days ago - By Chron

    Police raid Deutsche Bank offices in money laundering case
    BERLIN - German authorities have raided Deutsche Bank's headquarters amid suspicions that its employees helped clients set up offshore companies that were used to launder hundreds of millions of euros. About 170 police officers, investigators and prosecutors swooped on the bank's offices in Frankfurt and premises in nearby Eschborn and Gross-Umstadt.
    Fed officials express caution about pace of future hikes
    WASHINGTON - Federal Reserve officials earlier this month appeared on track to raise its key interest rate again in December...
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  • Tech and bank stocks dip after a big rally the day before

    12 days ago - By Chron

    NEW YORK - U.S. stocks finished lower Thursday after an afternoon rally faded away. Banks and technology companies fell after the market pulled off a huge rally the day before.
    Deutsche Bank dropped after German authorities raided its offices on suspicion some of its employees helped clients launder money. Financial stocks fell as interest rates again edged lower. Crude oil prices climbed after they briefly dipped under $50 a barrel overnight. The rebound helped energy stocks trade higher. Health care companies, which have climbed over the last month, continued to do better than the rest...
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  • Deutsche Bank and Quest Diagnostics fall; Qualcomm climbs

    12 days ago - By Chron

    NEW YORK - Stocks that moved substantially or traded heavily Thursday:
    Deutsche Bank AG, down 47 cents to $9.42
    German authorities searched the bank's offices as part of a money laundering investigation.
    Quest Diagnostics Inc., down $8.99 to $87.94
    The medical lab operator cut its forecasts and said it expects testing volumes to decrease.
    Qualcomm Inc., up $1.46 to $58.11
    The chipmaker's CEO said the company is close to resolving a licensing dispute with Apple.
    Tech Data Corp., up $16.21 to $89.89
    The information technology products company's forecasts for the current quarter were stronger...
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