24th Oct 2016


Embattled Deutsche Bank cuts 1,000 jobs

Deutsche Bank, Germany's largest bank, announced on Thursday it will cut an extra 1,000 jobs, in addition to the 3,000 announced in June. The bank, hit by a €12.5-billion fine in the US for wrongly selling mortgage bonds, has lost almost half of its value this year. German finance minister Wolfgang Schaeuble declined to say on Thursday whether the governement would come to help.

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