Some 500 German police officers have raided the headquarters of the Deutsche Bank in Frankfurt, arresting five employees. Officials say staff are suspected of involvement in tax evasion and money laundering.
The UN secretary-general has urged the international community to step up its efforts to combat climate change at a major summit in New York. Leaders from 120 countries are attending the meeting.
Ratings agency Moody's has slashed the credit rating of Germany's biggest lender. It said it wasn't convinced Deutsche Bank would return to higher profits, as expressed in the bank's latest earnings report.
The Federal Reserve Bank of New York has sharply criticized Deutsche Bank for "shoddy financial reporting." This assessment was first made public by the Wall Street Journal, which quoted a letter to the German lender.
The Australian government has voted to repeal a carbon tax and abandon the world's third-largest emissions trading scheme. The decision to scrap the latter is a major setback for global CO2 trading.
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