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BREAKING NEWS / URGENT: The State Supreme Court upholds Act 10, Voter ID, and the state's domestic partnership registry

MADISON, Wis (WSAU)  - The Wisconsin State Supreme Court upheld Act 10, the state law that limits the collective bargaining rights of state employees. The law from three years ago sparked protests at the state capital and led to the recall attempt against Governor Scott Walker. The court's ruling in favor of Act 10 was 5-2. Justice Michael Gableman wrote the lead opinion, which was also signed by Justices David Prosser, Pat Roggensack and Annette Ziegler. Justice Patrick Crooks concurre...

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Deutsche Bank CFO sees no capital transfer to U.S. unit: paper

Pedestrians are reflected in a window as they walk in front of the headquarters of Deutsche Bank AG in Frankfurt September 5, 2011. REUTERS/
Pedestrians are reflected in a window as they walk in front of the headquarters of Deutsche Bank AG in Frankfurt September 5, 2011. REUTERS/

BERLIN (Reuters) - Germany's Deutsche Bank will not need to transfer capital holdings to its U.S. subsidiary to meet the U.S.'s stricter regulatory requirements, Boersen-Zeitung reported on Saturday, citing an interview with finance chief Stefan Krause.

"Because of the Americans' definition of capital, we can use supplementary capital to fulfill these requirements," CFO Krause was quoted as saying. "For that reason, a transfer of capital from Germany will not be necessary here."

U.S. regulators are planning stricter rules on how much equity foreign lenders must hold.

Banks complain equity is the most expensive way to fund their business, but it is the safest from a taxpayer's or a regulator's perspective. That is because shareholders are the first to lose their money in case of bankruptcy.

(Reporting by Andreas Cremer; editing by James Jukwey)

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