Workers outside the Deutsche Bank office in London. Reuters
Deutsche Bank shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia.
Deutsche Bank’s chief executive is prepared to make “tough cutbacks” in its investment banking business, whose future is in doubt after several failed restructurings, in order to be profitable and competitive. Shares in Deutsche Bank hit a record low on Thursday as Christian Sewing kicked off its annual meeting,
Deutsche Bank laid off staff from Sydney to London on Monday as it began 18,000 job cuts in an $8.3 billion “reinvention” which Germany’s largest lender said would mean yet another annual loss, knocking its shares.
Deutsche Bank plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender The bank will also scrap its global equities business and scale back its investment bank.
Walid Al Zarouni, Real Estate Expert and Chairman of W Capital Real Estate Brokerage, confirmed that Dubai’s real estate sales curve is on the rise as Expo 2020 approaches.
US stocks were upbeat at the open on Friday, amid new positive signs that Washington and Beijing are moving towards at least a partial deal to end the lingering trade conflict.
This year’s edition of the Dubai International Motor Show, taking place at the Dubai World Trade Centre (DWTC) through Saturday, bears witness to car manufacturers’ innovation,