- Mehidy, Jaker keep Bangladesh alive against South Africa
- Stock markets mixed, oil prices drop
- Stokes forecasts spin battle in Pakistan-England decider
- Volvo Cars cuts sales forecast on market headwinds
- South Africa 'shattered' by divorce of rugby star Kolisi
- Putin touts 'multipolar world order' at flagship BRICS summit
- Deutsche Bank profits boosted by legal settlements
- WHO says 'intense bombardment' halts Gaza polio vaccinations
- UK's Starmer plays down Trump team claims of interference
- Son of Singapore's founder granted asylum in UK
- Mehidy, Jaker take Bangladesh into lead over South Africa in Test
- Stocks mixed as rate cut bets are trimmed, US vote in focus
- Seven dead, thousands evacuated as tropical storm batters Philippines
- Pant fit for second Test as Gill gives India selection 'headache'
- S. Korean Olympic shooter Kim keeps cool over newfound fame
- UN chief in Russia for Putin's BRICS summit
- Markets mixed as rate cut bets are trimmed, US vote in focus
- US says 'now is the time' to end Gaza war
- Harris to face voters' queries in crucial Pennsylvania
- Mehidy fifty steers Bangladesh towards parity at 201-6
- King Charles arrives in Samoa, where Commonwealth looks to shed stodgy image
- Ohtani 50-50 baseball sells for record-breaking $4.39 million
- Morikawa says 'winning is tough' ahead of Japan title defence
- New Zealand's Bowes smashes record-breaking 103-ball double ton
- Troubled Boeing faces investors and awaits strike vote
- Indian capital chokes as 'hazardous' air pollution returns
- Thousands flee homes as fierce tropical storm batters Philippines
- Tokyo Metro shares rocket on debut
- Israel says killed Nasrallah's apparent successor in Beirut strike
- Climate change worsened deadly Africa floods, scientists say
- Los Angeles Dodgers baseball icon Fernando Valenzuela dead at 63
- Indian capital's 'hazardous' air pollution season starts
- King Charles visits Samoa, where Commonwealth looks to shed stodgy image
- Cattle disease wreaks havoc in Libya
- Fernando Valenzuela: Iconic pitcher sparked 'Fernandomania'
- Warner offers to come out of retirement for India Test series
- Deyverson double gives Atletico Mineiro upper hand over River Plate
- Taipei says Chinese aircraft carrier group sailed through Taiwan Strait
- LeBron, Bronny James make NBA history with father-son appearance
- Deyverson double gives Atletico upper hand over River Plate
- Tokyo Metro: Asia's oldest subway goes public
- Shiffrin eyes 100 World Cup wins as legend Hirscher returns
- Asian markets mixed as rate cut bets are trimmed; US vote in focus
- From Colombia's jungle to the world's fish tanks
- Celtics dominate Knicks to launch NBA title defense
- North Korean leader Kim inspects missile bases, ballistic weapons
- Harris says US ready for woman president
- King Charles winds up Australia trip, flies to Samoa summit
- Porn stars urge men to vote against Trump
- Judge orders Giuliani to hand over valuables in bankruptcy
Deutsche Bank profits boosted by legal settlements
Germany's biggest lender Deutsche Bank on Wednesday reported a sharp jump in third-quarter profits, boosted by the settlement of investor lawsuits related to a troubled takeover.
Net profits came in at 1.46 billion euros ($1.58 billion), up 42 percent from a year earlier. Analysts surveyed by financial data firm FactSet had forecast a figure of 1.32 billion euros.
Profits were lifted by a settlement in August with some former shareholders of Postbank, who took legal action against Deutsche Bank alleging that a takeover had shortchanged them.
This allowed Deutsche Bank to cut provisions that had been set aside for the cases.
"We made important progress in putting legacy litigation matters behind us, while also producing a record third-quarter profit in our operating business," said Deutsche Bank CEO Christian Sewing.
In the second quarter, Deutsche Bank had booked a loss of 143 million euros, dragged down by the huge provision it had to set aside related to the Postbank saga.
Following Wednesday's results, Sewing said Deutsche Bank intends to resume share buybacks.
In the July-September period, revenues rose by five percent year-on-year to 7.5 billion euros, driven by an 11 percent jump in the investment banking division, and 11 percent in asset management.
This offset falls in corporate banking and retail banking, where the positive impact of higher eurozone interest rates is fading.
The bank's shares were down almost three percent at 0830 GMT on the Frankfurt Stock Exchange.
Deutsche Bank has undergone major restructuring in recent years, seeking to rely more on retail and corporate banking after an aggressive shift in the early 2000s into investment banking drew it into multiple scandals.
The strategy has largely paid off, with the bank reaping greater profits.
Wednesday's results renewed some concerns that Deutsche Bank was again becoming too dependent on its investment banking division for profits.
But chief financial officer James von Moltke played down these worries, telling journalists: "We are comfortable with the business mix".
Signs that Italian lender UniCredit could be gearing up to launch a takeover bid for Commerzbank after building a substantial stake in its German rival has also prompted speculation Deutsche Bank could emerge as a rival suitor.
Von Moltke, however, suggested this was not on the cards: "We've been very consistent about our focus on our own strategy."
P.Stevenson--AMWN