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Added on the 08/07/2019 06:20:14 - Copyright : Wochit
Deutsche Bank chiefs are reported to be holding a special weekend gathering on how to speed up cuts at Germany's biggest lender as it grapples with low rates and lower revenues. Axel Threlfall reports.
Deutsche Bank shares rose more than 3 percent as investors welcomed Chief Executive John Cryan's plan to restructure the German bank, cull managers and put past scandals behind it. Ivor Bennett reports.
Deutsche Bank's biggest strategic overhaul under co-chief executives Anshu Jain and Juergen Fitschen has been given the thumbs down from investors. As Hayley Platt reports the 200 billion euro cuts in investment bank assets are being judged as too little too late.
The recent storming of the US Capitol seems to be hitting President Donald Trump not only politically, but financially as well. CNN reports a growing number of businesses suddenly want very little to do with Trump after he incited a mob of his supporters to attack the Capitol. Twitter and Facebook banned Trump indefinitely, and Stripe is no longer processing credit card payments for his campaign. Shopify stopped operating online stores for the Trump Organization and the campaign and the PGA is pulling a major golf tournament from a Trump resort. It's also unclear which, if any, banks will want to loan money to the Trump Organization.
On Tuesday Deutsche Bank said working from home should be taxed to help support people on low incomes who cannot do their jobs remotely People choosing to work from home despite their company providing a permanent desk should pay the tax. According to Business Insider, that would be 5% of their salary. The report argued that if companies do not offer permanent desks, they should pay instead, the report argued. Deutsche said the tax could raise $49 billion per year in the US, $23.6 billion in Germany, and $9.3 billion in the UK.
Deutsche Bank chief John Cryan has pledged to redouble restructuring efforts, warning that the bank faces tough times as it seeks to finalise talks with U.S. justice authorities over a multi billion dollar fine. Sonia Legg reports.
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