Business

Twenty-two financial companies that have served as primary dealers of U.S. Treasury securities were sued in federal court on Thursday, in what was described as the first nationwide class action alleging a conspiracy to manipulate Treasury auctions that harmed both investors and borrowers.

Toshiba Corp's (6502.T) chief executive stepped down on Tuesday after an independent investigation found he had been aware the company had inflated its profits, in the country's biggest corporate scandal in years.

Deutsche Bank has disputed allegations by Germany's financial watchdog, sources close to the lender said, in its official response to a preliminary report into interest rate manipulation which threatens sanctions against the bank and individuals.