Regulators in the US and UK have fined Deutsche Bank $630 million in relation to alleged Russian money laundering. Investigators say the scheme illegally moved $10 billion out of Russia, using so-called mirror trades among the bank's Moscow, London and New York offices. Authorities said the German banking giant missed numerous opportunities to spot the operation, which took place between 2011 and 2015, and stop the scheme altogether.
William Denselow reports from Moscow
Stocks gain with oil prices easing on optimism from possible ceasefire talks
Global equity markets, including from the U.S., Europe and Asia, rose while oil prices fell on Wednesday, as traders cheered news of ceasefire proposals to de-escalate the ongoing conflict in the Middle East.
Australia moves to double fines for fuel gouging amid shortages
Australia's centre-left government has introduced legislation in the parliament to double penalties for fuel price gouging on Wednesday as global supply disruptions due to the Iran war triggered fuel shortages in some rural regions.
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