Financial Business Review: Capital One Financial Goes Cold, Jamie Dimon Hates Regulation

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Deutsche Bank (NYSE:DB) is  close to an agreement to pay around 800 million euros ($1 billion) to settle a decade-old claim that a former chief executive helped drive German media company Kirch Group into bankruptcy. A settlement, if approved, could be included in either the company’s fourth quarter report or first quarter 2012, though DB has already set aside 1 billion euros as a capital cushion for litigation.

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Capital One Financial’s (NYSE:COF) proposed a $9 billion acquisition of ING’s (NYSE:ING) United States online bank. The Federal Reserve considered the deal yesterday and promised a decision soon, though this is the second delay within a week. It’s the first market and analysis the Federal Reserve is looking at under new Dodd-Frank rules.

Jamie Dimon (NYSE:JPM) continues to rail against over-regulation, telling Fox Business that policies coming out of Washington have led to a slower and more troubled recovery: “It could have been better. I do think we have made this recovery slower and worse by uncoordinated policy, the debt ceiling crisis and tons of other things that were misguided.”

Goldman Sachs (NYSE:GS) is the lead candidate to purchase the Columbian coal assets of Brazil’s Vale (NYSE:VALE). The move could lower its transportation costs by giving it better port and railway access to move coal around. Executives with Vale hope to close a deal by the end of the year.

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To contact the reporter on this story: Tanya Harding at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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