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Commerzbank stock plunges: Shares of Commerzbank dropped sharply Tuesday after the second largest German bank said it wouldn't be able to achieve its goal of keeping profit stable as revenues drop.
Wall Street Journal
Right idea but wrong slice? Republican and Democrat party platforms favor a return to the Glass-Steagall separation of commercial and investment banking, but few investors would welcome it, says the Heard on the Street column. Such a move would
Financial Times
Oil patch defaults rise: Speculative-grade
What we can learn from fraudsters: "Banking needs more Kweku Adobolis," Andrew Hill, the paper's management editor, writes, referring to the former UBS trader who caused $2.3 billion of losses in unauthorized trading and served half of a seven-year jail sentence for fraud. Hill says fraudsters like Adoboli
New York Times
Wells joins the P2P club: Wells Fargo became the latest bank to allow customers to send money to someone else's bank account using a mobile phone or through email, joining JPMorgan Chase, Bank of America and U.S. Bank.
"The banks worry that if they do not respond with their own instant payment offerings, they will be relegated to performing less-profitable back-office functions for hip new payment companies" like Apple, PayPal and Square, the story says. "Instant
Washington Post
Does Dodd-Frank hamstring the Fed? The paper's economics columnist Robert J. Samuelson writes that the financial reform law, intended to rein in Wall Street excess, could