Deutsche Bank has reached a settlement with the US Justice Department to pay $3.1 billion (2.9 billion euros) in civil penalties and provide $4.1 billion relief to consumers. It is the DoJ’s first accord with a European bank over misconduct that contributed to the US housing-market collapse. Source Deutsche Welle
The troubled Chinese property group Evergrande has edged closer to a government-engineered restructuring which could see bondholders take huge losses as Beijing’s price for saving millions of homeowners from financial ruin. Source The Guardian
US Treasury Secretary Janet Yellen has warned the US government will run out of money next month. She called on Congress to raise the debt limit in a letter to House Speaker Nancy Pelosi. Source DW
he last section of the Nord Stream 2 gas pipeline has been welded into place, its operator said on Monday, meaning the two long stretches of the pipe can now be joined to complete the Baltic subsea link. Source Reuters
