The Traderszone Network

The probe investigates so-called mirror trades, where the bank’s Russian clients bought stocks in rubles, and through simultaneous transactions in London, bought the same stocks in U.S. dollars, thereby moving funds out of Russia without informing authorities, Bloomberg reported. Last month, The New York State Department of Financial Services (DFS) sought detailed information from Deutsche Bank on possible money-laundering transactions by some of its clients in Russia that could exceed $6 billion in total, a source familiar with the matter told Reuters.

U.S. construction spending barely rose in June as private outlays posted their biggest drop in a year, but the underlying trend suggested the economy remained on solid ground. Construction spending increased …

Seed giant Monsanto Co.’s (MON.N) unwanted takeover bid with Switzerland’s Syngenta AG (SYNN.VX) would face strong resistance in Brazil should it go forward, farmers and lawyers said, a hurdle that could delay or force major concessions to the $45 billion deal. Much of the public focus on the move has revolved around potential antitrust questions in the United States and the European Union, but challenges could also likely arise from emerging agricultural powers such as Brazil and China.

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Bank of Japan Deputy Governor Kikuo Iwata on Tuesday played down any risk that expected interest rate increases by the U.S. Federal Reserve or the Bank of England could pose to financial markets, and dismissed suggestions that the BOJ should raise rates to prevent the yen from falling too fast. Iwata, speaking at the upper house financial affairs committee, acknowledged there was a chance currencies could react to such rate hikes but noted that foreign exchange markets may have fully priced in expected interest rate increases.

Brazil’s state-run oil company, Petrobras, has failed to present its board of directors with a promised plan to bring domestic fuel prices in line with world levels, three sources with direct knowledge of the situation told Reuters. Petroleo Brasileiro SA, as Petrobras is formally known, has promised to sell $15.1 billion of assets by the end of 2016 and reduce its $120 billion debt, the largest of any oil company.

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In 1964, Irwin Lipkin became one of the first employees at a small New York trading firm called Bernard L. Madoff Investment Securities. Five decades later, Lipkin, 77, is set to be sentenced on Wednesday in Manhattan federal court for falsifying records, marking the end of the criminal case stemming from the collapse of Madoff’s multibillion-dollar Ponzi scheme more than six years ago. Madoff, 77, who is serving a 150-year sentence after pleading guilty in 2009 to masterminding the fraud, has always insisted he acted alone.

With earnings season now in full swing, China remains the buzzword – but for all the wrong reasons.