It's an ugly week for global banking giants

Deutsche Bank shares have been punished along with its peers in Europe, but Citi warns investors should not underweight ...

Even before the opening bell in New York, Thursday looked like a grim day for some of the giants of global banking. But few expected the barrage of bad news that was about to hit.

Rogue Deutsche Bank trader banned for life

A customer enters a Deutsche Bank AG branch in Boblingen, Germany, on Monday, July 25, 2016. Deutsche Bank Chief ...

A former Deutsche Bank currency trader has been permanently banned from the industry after a series of false trades artificially boosted the bank's revenue by 28 million Euros. 

Wells Fargo CEO gives up $53m to keep his job

Giving up pay may not be enough: Wells Fargo boss John Stumpf faces another grilling at Congress on Thursday.

Wells Fargo chief John Stumpf, fighting to keep his job amid outrage over Wall Street's latest bank scandal, will forgo shares and salary after the company opened legions of bogus accounts.

RBA chief hits out at bankers' bonus culture

New Reserve Bank governor Philip Lowe wants major investment by government in infrastructure.

The new RBA governor has hit out at the incentives-based culture at the major banks, saying banks need to return to being strong, valued professions not "marketing or product distribution businesses". 

"It's like flying a kite with her"

Glenn Rosewall leaves the Supreme Court on Thursday.

The former chairman of failed Sydney stockbroking firm BBY has admitted he consulted a psychic about the running of the troubled business but insisted he was "dismissive" of much of her advice.

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