Anything For You All: FINANCE INSIDER: 'Showdown with the US'

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December 23, 2016

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. This will be the last edition of Finance Insider of 2016. Happy holidays!

Deutsche Bank has reached a $7.2 billion settlement with the Department of Justice on an important mortgage-backed securities case, sending the share price higher.

It appears the election of Donald Trump and Christmas helped the bank to the settlement, which is just half the $14 billion figure that was mooted earlier this year. The bank has told staff no bailout is needed for the settlement.

Here's a bit of history on how Deutsche Bank's big bet on Wall Street turned toxic.

Credit Suisse is paying $5.3 billion to settle its mortgage-backed securities case in the US, meanwhile. And the US is also now suing Barclays over mortgage-backed securities.

Elsewhere in bank news, Monte dei Paschi, the world's oldest bank, is officially being bailed out by the Italian government. The bailout is despite the best efforts of JPMorgan, which was called in to try and save Italy's problem bank. The bailout could also spark a fresh crisis for the eurozone.

Elsewhere on Wall Street, a top recruitment firm identified the key trends in hiring, And a 27-year-old raised $10 million from venture capitalists for an unusual hedge fund.

In markets news, traders are bracing for a wild start to 2017. The stock market is about to do something for the first time since 1982 - and it's bullish. And Twitter stock is getting slammed after a series of top executive departures.

We talked to the chief economist of an $82 billion asset manager about Trump, China, and his outlook for 2017

A crucial part of the Chinese economy is looking super jittery going into next year. And Chinese media is warning of a "showdown with the US."

Lastly, here are 27 Wall Street movies to watch over Christmas.

Here are the top Wall Street headlines at midday

US consumer confidence jumped to a 13-year high - President-elect Donald Trump's victory continued to increase consumer confidence in December, according a University of Michigan survey.

BLACKROCK: Here are the books you should be reading - Compiling your winter break reading list and looking for some titles that may make you a better investor? Here's some help.

It hasn't been this hard to buy a house in America since the financial crisis - Housing affordability in the US is at an eight-year low, according to Attom Data Solutions.

GOLDMAN SACHS: 'Fallen angel' debt had its best year since 2003 - If you followed Warren Buffett's investing mantra – be greedy when others are fearful and fearful when others are greedy – then 2016 should have been a bumper year.

JP MORGAN ASSET MANAGEMENT: 5 shock predictions for 2017 - 2016 will go down in history as one of the most surprising years in recent political and economic history.

Goldman names former DuPont CEO Kullman to board of directors - Goldman Sachs named former chair and CEO of E.I. du Pont de Nemours and Co Ellen Kullman to its board of directors, according to a filing made public on Thursday.

12 things every guy needs for his living room - A living room needs to be livable.