January 25, 2021 - Biz in 60

Business in 60 Seconds

Deutsche Bank probes sales of investment banking products Deutsche Bank says it's conducting an internal probe into the alleged mis-selling of investment bank products. The investigation codenamed Project Teal has been launched in response to client complaints last year and initially focused on a desk in Spain. The move comes as part of the German lender's efforts to improve relations with regulators. Mastercard to increase fees for UK purchases from EU Mastercard will increase its transaction fees for British shoppers purchasing from an EU-based company. Credit card fees will increase to 1-and- a-half percent of the value of the purchase from the 15th of October, up from the current 0-point-3 percent charge. The global credit card giant has attributed the move to the UK's decision to leave the EU. TikTok rival Kuaishou looks to raise up to $6.3B in IPO TikTok rival, Kuaishou, is seeking to raise as much as 6-point-3 billion dollars in its Hong Kong initial public offering. That would be the largest tech IPO since the ride-hailing company, Uber, raised 8-billion- dollars in 2019. The deal could value the Chinese short video app at up to 62-billion- dollars, up from the 28-billion- dollars it achieved in a funding round last year.