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
GEFIRA provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
The Gefira bulletin is available in ENGLISH, GERMAN and SPANISH.
Airbus SE said it will almost halve production of its slow-selling A380 superjumbo, casting further doubt over the program’s future, while warning that engine glitches are still weighing on deliveries of the single-aisle A320 that’s due to become its largest-volume model. Source Bloomberg
Ankara’s purchase of the S-400 missile defense systems from Russia should not be worrying President Recep Tayyip Erdoğan said, as he announced the deal with Russia has been signed Source Daily Sabah
Media reports claiming that Turkey would buy Russian S-400 air defense systems were not true, U.S. Marine Corps Gen. Joseph Dunford said at a security forum in Aspen, Colorado on July 23. Source Hurriyet Daily