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It could have been even worse for Deutsche Bank, with the US Justice Department initially demanding almost twice as much.

Deutsche to pay $10 billion for its role in GFC

Deutsche Bank said it has reached an agreement to resolve a year's-long US investigation into its dealings in mortgage-backed securities, removing a major legal hurdle for the bank.

Australia's richest woman, Gina Rinehart.

Gina Rinehart loses costs case against journalist

A company owned by Australia's richest woman, Gina Rinehart, will have to pay the costs of a journalist who the billionaire tried to force into revealing her sources for a book about the family.

The troubled Banca Monte dei Paschi di Siena

Italy approves $29b bank bail-out

The Italian government has agreed to bail out Monte dei Paschi di Siena after the world's oldest bank failed to to get a capital increase.

The last day of trade before Christmas is expected to be a quiet one.

Markets Live: Santa's last chance

Late profit-taking in the miners has pushed shares lower in a shortened pre-Christmas session, as Tatts rejects a competing offer from a Macquarie-led consortium.

The Aussie is ending 2016 on a weak note.

Aussie dollar dips below US72¢

The Australian dollar on Thursday night hit its lowest point since May as the currency is under pressure from a resurgent greenback and weakness in the iron ore price.

Donald Trump campaigned against the TPP and China.

Trump upends $525b program with a single tweet

President-elect Donald Trump has shaken up years of Pentagon planning, tweeting he has asked Boeing to price a replacement of Lockheed Martin's F-35, the most expensive US weapon system ever.

Seven boss Tim Worner.

TV stars fight to keep names out of Worner sex scandal

The saga embroiling embattled Seven West boss Tim Worner continues to spiral out of control with the company's lawyers launching legal action to prevent the names of two prominent employees being linked with the scandal.

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