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Deutsche Bank plans a share sale for 8 billion euros in 2017 after being hurt by legal settlements and a decision to reverse the sale of retail unit Postbank. Its deal advisory business and corporate finance unit is being merged with its trading unit. Shares have recovered somewhat from a low of 10 euros in September 2016. Share price is 19.14 euros on March 5, 2017.

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About 90 countries are seeking help from the International Monetary Fund, the IMF. And 60 countries are seeking help from the World Bank. The IMF has about $1 trillion to lend. The World Bank has $160 billion to give out. 

The World Bank headed by Mr. Malpass has given India $1 billion for screening, contact tracing and lab diagnostics, to produce personal protective equipment, and set up isolation wards. 

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Renewed calls for higher capital reserves by banking regulators and Britain's Independent Banking Commission after $2 billion in losses at UBS. The losses were a result of derivatives trades made at UBS's London trading desk.

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Massachusetts is moving into no. 3 or no. 4 position after New York and New Jersey and possibly Michigan in coronavirus cases with 34,000 reported. More than 3700 were hospitalized  in the state.

Massachusetts is close to hotspot New York. It also has a more aggressive testing strategy and is hiring hundreds of volunteers to do contract tracing, and uses Partners in Health, a nonprofit. Michigan and Massachusetts have followed a more aggressive strategy of testing compared to California which has taken a different approach of not doing aggressive testing and contact tracing leading to lower numbers in California now adjusted for population that could be different later on.

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Michael Gove heads the XO (exit operations) group for no deal planning on Brexit. This group met twice in one week and the planning is being done by ministers for no deal.  There is growing sentiment in the government that with the EU not budging, trading on World Trade Organization terms after January 1, 2021 is the only or best option for Britain. Britain would simply walk away from the unproductive talks.

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The work of David Malpass at the World Bank in approving $1 billion for India's coronavirus emergency response and health preparedness project. 

This will help India move quickly to setup the contact tracing, isolation centers, treatment facilities, and healthcare preparedness for coronavirus, so that the transmission of coronavirus is strictly limited.

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Raj Rajaratnam was convicted on 14 counts for insider trading violations. Prosecutors successfully used wiretap evidence for the first time in an insider trading case.

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US Supreme Court hears arguments from D. John Sauer Solicitor General of the US on DJT Tariffs Wednesday, November 5, 2025. The Supreme Court will hear about a case brought by a small wine importing company with 19 employees. The US president used the 1977 International Emergency Economic Powers Act (IEEPA) that allows the president to impose tariffs. The IEEPA was introduced by president Jimmy Carter in 1977. It was used during the Iran hostage crisis. It has been used for the Venezuelan regime after elections were rigged with human rights violations, on Belarus as early as 2006, and on Mexico for drug cartels. This increases the responsibilities of the Justices of the Court as these sanctions have broad support of the American people. Tariffs were imposed on China for illicit fentanyl flows and a 25% tariff was imposed on Canada and Mexico under Executive Orders 14193, 14194, and 20% on China under Executive Order 14195 in 2025 for illicit drug traffic flows across their borders into the US. Illicit flows that has taken the lives in the case of fentanyl of more young people than were killed in the Vietnam, Korean and First World Wars combined.  For the reason that the economic aspect of tariffs now overlaps with trading partners abuse of basic rights of their largest trading partner the US in the case of Canada, Mexico and China not stopping such flows, the issue before the Supreme Court is basic to the US as a Nation to protect its citizens under these Executive Orders and IEEPA- not the kind of interpretation of the law the USC does for most or almost all of its cases. In 2025 a lot of the discourse is distorted and does not reflect the way citizens of the Nation should show concern for the welfare and safety of their fellow citizens in communities around them severely hurt by the scourge of fentanyl and other opioids making their way from other countries conducted by drug trafficking gangs outside the US.  Also relevant is that the tariffs are correcting trade deficits of $1 trillion of the world with China that threaten the economic security of the US, EU, India and other countries. Larger companies are moving their supply chains out of China to reduce concentration in China, impact on inflation is slight with 3.0 % inflation in September 2025. Smaller companies such as the wine company in this lawsuit are unable to do so. Most of the smaller businesses affected can be compensated with a fund from the tariffs revenue of $500 billion in 2025-2026. In this way the goals of the US as a Nation can be achieved of reducing the supply channels concentration in China, cutting supply chain concentration in China, for fair trade with trading partners EU/Japan, and for action on fentanyl and drug trafficking. Justice Roberts and his team have a lot to think about in this effort by the Nation to correct abuses that should never been allowed to happen. ...

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The 129 page internal report on what caused the trading losses of $6 billion at the London based investment unit of JP Morgan Chase bank. The report shows the trading was intended to offset losses of $100 million. Instead the trading assumed large proportions and supervisors ignored the risks, management showed lax oversight. This type of situation occurs in other industries. The costcutting at BP and suppliers resulting in the Gulf Oil Spill and the Toyota costcutting saved small amounts by creating large risks that threatened the companies, with bankruptcy in BP's case and loss of confidence of the customer base in Toyota's case. They also reflected years of costcutting that were showing up in smaller problems that remained unrecognized. BP refinery fires occurred for lack of adequate maintenance. Problems were already developing at JP Morgan Chase with managment changes at the London unit leading to poor oversight and complacency of top management, a culture that took undue risks even as management remained confident in its strategies....

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President Xi Jinping of China faces domestic criticism about his handling of the critical trading relationship with the U.S. that has given China access to technology and the U.S. market in its development drive. The trade truce with the U.S. reached following a meeting of Xi and Trump at the G-20 meeting in Buenos Aires, was presented in Chinese media as a positive step withut mention that Mr. Trump has set a 90 deadline for the talks and appointed a experienced trade negotiator, U.S. Trade Representative Robert Lighthizer, to head negotiations. Also agreed is an effort to focus the talks on the 142 contentious issues the U.S. has put forward.

Experts at the Chinese University of Hong Kong say Mr. Jinping will need to show results to stay on beyond the customary two terms as president because for China the  trading relationship with the U.S. is essential to grow its economy with access to the U.S. market.

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Dutch New Amsterdam with 1500 inhabitants become British New York in 1664. It is later retaken by the Dutch and exchanged for Suriname in the West Indies. From a neglected outpost for the Dutch it becomes a center for trade under the growing British Empire. The city inherits the Dutch spirit of tolerance, diversity and aggressive free trading.

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China's COSCO taking an ownership stake in Hamburg port was opposed by the Greens and Free Democrats parties in the three party coalition government with the SPD in Germany. Scholz of the SPD went ahead over their opposition saying this will preserve jobs in Hamburg port. In the compromise reached the ownership is capped at 24.99% so that no foreign country owns a majority stake. At one point Germany's cyber security agency BSI classified the Hamburg port as critical infrastructure.

China is Germany's largest trading partner  for 7 years with trade reaching a record $320 billion.

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Germany's state development bank KfW has signed a memorandum of understanding with German energy company RWE AG to build a new LNG terminal at the northern port city of Brunsbuttel. Netherlands infrastructure group Gasunie will operate the new LNG terminal. The Nordstream 2 $11 billion project is now set aside and Germany plans to use the LNG terminals and other sources outside of Russia. Germany commissioned its gas market trading hub to buy LNG of 1.5 billion euros. 

Germany will now fast track another LNG terminal on the North Sea at Wilhelmshaven. That terminal would be operational in 3 years. 

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The US dollar is only 5% way from reaching parity with the euro. The euro was at $1.03 during the beginning of May. It is at $1.05 on May 21. With the US central bank raising rates, and the effects of energy shortages on the European economy, parity looks likely says this report in WSJ. Additionally weakening demand from China for European goods or the EU shifting its supply chains back to home countries and trading less with China could also have an impact from the ripple effects of China's support for the Russian position on Ukraine.

 

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U.S. Secretary of State Hillary Clinton, says Russia's entry into the World Trade Organization in the summer of 2012 will be good for the global economy and for the U.S. It will increase U.S. exports to Russia from the low level of 1% of U.S. global exports. It will also set the right tone for improving U.S.-Russia relations and improving cooperation on global issues. She calls for Congress to change the Jackson-Vanik amendment and setting up normal trading relations between the U.S. and Russia. It is a smart investment in trade with Russia,and also a way to help Russia diversify its economy, setup an open political system and put its world trading relationships on a more transparent basis with clear tariff rates.

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The British pound was trading at $1.50 just before voting to leave the EU in June 2016. Since then years of wrangling on Brexit led to uncertainty and the pound dropping to $1.22. The decisive win of Boris Johnson and the Conservatives in 2019 led to removing much of the uncertainty, and the British pound recovered to $1.34 on prediction of Johnson's win. The big win makes it certain that Britain can leave the EU by Jan 31st 2020.

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Questions raised about whether the bets made by trader Iksil of the CIO at JP Morgan Chase were made to hedge risk, or to simply engage in proprietary trading for the bank in the hope of making large speculative profits. Bets made earlier by Iksil made large profits, but were simply speculative trades that increased bank profits. In late 2011 Iksil made a $1 billion bet that some companies would default on their debt in a few months. When American Airlines filed for bankruptcy protection Iksil's trades made about $450 million for Chase. But the trade had little to do with hedging risk.

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Britain's Cabinet Office minister supports the scientific community in its efforts to ensure contact tracing combined with random testing to track community levels of virus penetration. This supports reopening with reliable data and information on how to proceed. Britain is pursuing this strategy.