Financial and Business Knowledge

1. Banks: Deutsche Bank blasted for errors in reporting The New York Fed isn’t impressed with Deutsche Bank, said David Enrich in The Wall Street Journal. In a 2013 letter that surfaced this week, Fed officials rebuked the German bank for its subpar reporting practices in U.S. filings, calling them “of low quality, inaccurate, and unreliable.” The Fed found “material errors and poor data integrity” in the bank’s public filings, including mistakes such as data-entry errors and miscalculations of risky loans, that expose the firm to “significant operational risk.” A spokesman for the bank said it has been “working diligently” to strengthen its controls. 2. Earnings: iPhone sales boost Apple’s profits Apple’s third-quarter results this week were a mixed bag, said Adam Satariano in Bloomberg.com. Though the tech giant surpassed analysts’ expectations with a 12 percent rise in profits, the company disappointed Wall Street with its lackluster revenue, which grew  just 6 percent. iPhone