With word that some long-time Deutsche Bank clients are reducing their exposure there, shares of the struggling German lender took a dive and helped pull the rest of the market with them – NYTimes and WSJ

All in all, sums up Bloomberg, not the best Thursday for global banks – Bloomberg

IBM’s looking to put it’s big data, AI, and cloud computing power to use in its acquisition of financial consulting firm Promontory Financial Group, best known for advising banks on regulatory matters – NYTimes and WSJ

NY hedge fund Och-Ziff has agreed to pay a $413 million fine as part of a deferred-prosecution agreement with US regulators over allegations that it was involved in the payment of more than $100 million in bribes to African officials to help secure natural resource deals and other investments – NYTimes and WSJ and Law360

Round 2 for John Stumpf on the Hill wasn’t markedly better than the first time, with House members (all of whom are up for re-election this year, mind you) “even angrier and more hostile than their Senate counterparts who questioned him last week” – NYTimes and WSJ

The Journal on navigating the maze of seemingly conflicting consumer confidence surveys – WSJ

The Ryder Cup kicks off today right in our backyard (Chaska, Minnesota), though there was some serious international action already going on at the course yesterday – Daily Mail

Have a great weekend.