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Last year, Deutsche Bank was fined nearly $700 million for allowing money laundering through artificial trades between Moscow, London and New York. An investigation by the U.S. Department of Justice is still ongoing. “It is the sum of incidents that give cause for serious concern,” said Lisa Paus, a member of the German Bundestag. “Something seems to be basically wrong in the compliance and anti-money laundering area of the bank.”. Deutsche Bank has been under pressure after annual losses, and it agreed to pay a $7.2 billion settlement with U.S. authorities last year over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis initial cufflinks uk sale.
TOKYO (Reuters) – Mitsubishi Motors’ (7211.T) Chief Executive Osamu Masuko said on Thursday that the company’s three-way alliance with Nissan and Renault would not appoint an interim chairman and would shift instead to a system where the group would be led by the three CEOs. Masuko, speaking to reporters in Tokyo, said changes to the alliance’s capital structure were not discussed at a meeting in Amsterdam on Thursday of Renault and Nissan senior managers initial cufflinks uk sale. The gathering, held 10 days after the arrest of Chairman Carlos Ghosn on suspicion of financial misconduct, lasted less than an hour, he said..
(Reuters) – U.S. teen apparel retailer Abercrombie & Fitch Co (ANF.N) forecast same-store sales for the holiday quarter above analysts’ estimates on Thursday, driven by strong sales at its Hollister and flagship stores, sending its shares soaring 24 percent in early trading initial cufflinks uk sale. “We saw a solid start to the holiday season in November, with strong double-digit growth on Singles Day on Tmall, and a record performance over the peak Holiday period from Thanksgiving Day through Cyber Monday,” Chief Executive Officer Fran Horowitz said on a call with investors..
Tmall is Alibaba’s (BABA.N) giant online marketplace. Horowitz emphasized the steep investments the company has made in better managing its supply chain and product assortment to serve customers faster initial cufflinks uk sale. Abercrombie has changed its namesake fashion brand in recent years, doing away with risque advertising and logo-emblazoned apparel, which fell out of fashion in the late 2000s. It has relied on Hollister to generate the majority of its revenue as its denim and Gilly Hicks intimates collections prove to be a hit with younger customers..
The New Albany, Ohio-based retailer now expects to close fewer stores in the current year based on improved performance and successful lease renegotiations. It anticipates closing up to 40 stores by year-end, primarily in the United States, down from its previous expectation of closing up to 60 stores initial cufflinks uk sale. Ken Perkins, founder of research firm Retail Metrics, said the company was well-positioned for a strong holiday but Abercrombie’s namesake brand has some work to do to resonate with shoppers..