Deutsche Bank - updates

Rappler's latest stories on Deutsche Bank


Deutsche Bank fined $150 million for ties to sex offender Epstein

Jul 07, 2020 - 11:50 PM

This marks the first time a financial institution has been penalized for its dealings with Jeffrey Epstein, says the New York Department of Financial Services

DEUTSCHE BANK. The bank's logo is pictured at its headquarters in Germany. File photo by Daniel Roland/AFP

Deutsche Bank posts 43-million-euro loss in Q1 2020 as virus bites

Apr 29, 2020 - 6:45 PM

Germany's biggest lender Deutsche Bank also sets aside 506 million euros to deal with credit losses, around half of which it predicts will be due to the coronavirus

JOB CUTS. The logo of Deutsche Bank is pictured at its headquarters in Germany. File photo by Daniel Roland/AFP

Dismissed Deutsche Bank staff head out as overhaul bites

Jul 09, 2019 - 7:25 PM

The job cuts hit Deutsche's equity trading business, leaving other divisions of investment banking unscathed

NEW YORK, NEW YORK - JULY 08: People exit Deutsche Bank's Manhattan headquarters with some of their belongings following news that the global banking giant will be letting go of thousands of employees due to a major restructuring at the German bank on July 08, 2019 in New York City. The bank has announced that it will reduce its workforce by 18,000 people in Asia, Europe and America. Spencer Platt/Getty Images/AFP

Deutsche Bank to slash 18,000 jobs by 2022

Jul 08, 2019 - 2:15 AM

Deutsche Bank expects its new round of layoffs to reduce annual costs by 6 billion euros ($6.7 billion) over the same period

RAIDED. In this file photo the logo of German company Deutsche Bank is pictured at it's headquarters in Frankfurt, Germany.  Photo by Daniel Roland/AFP

Germany's two top banks launch merger talks to create national 'champion'

Mar 17, 2019 - 10:45 PM

German bank Commerzbank says it 'agreed today to start discussions with an open outcome on a potential merger' with Deutsche Bank

MERGER? Germany's top lenders, Deutsche Bank and Commerzbank, plan to launch formal exploratory talks toward a possible merger, national media reported on March 17, 2019, following months of preliminary negotiations. AFP File photo

German police raid Deutsche Bank in 'Panama Papers' graft probe

Nov 29, 2018 - 7:14 PM

German prosecutors raid several Deutsche Bank offices in the Frankfurt area over suspicions of money laundering based on revelations from the 2016 'Panama Papers' data leak

(FILES) In this file photo taken on February 02, 2018 The logo of German company Deutsche Bank is pictured at it's headquarter in Frankfurt, Germany, on February 2, 2018. German prosecutors raided several Deutsche Bank offices in the Frankfurt area on November 29, 2018 over suspicions of money laundering based on revelations from the 2016 "Panama Papers" data leak.  Daniel ROLAND / AFP

Deutsche Bank, Credit Suisse agree billion-dollar settlements in U.S.

Dec 23, 2016 - 1:09 PM

UPDATED Deutsche Bank will pay a total of 7 2 billion while Credit Suisse will pay almost 5 3 billion

SETTLEMENT. The headquarters of Germany's biggest lender Deutsche Bank is seen in Frankfurt am Main, western Germany, October 29, 2015. File photo by Daniel Roland/AFP

Debt mountain, weak banks imperil global economy – IMF

Oct 06, 2016 - 7:00 PM

High debt levels are costly as they often end up in financial recessions that are deeper and longer than normal recessions warns IMF Fiscal Affairs Department chief Vitor Gaspar

A man withdraws cash from an ATM machine in Athens on July 19, 2016.  The European Union and Greece hope to reach a deal on the crisis-hit country's debt mountain by the end of the year, EU economic affairs chief Pierre Moscovici said on July 18. An upcoming review of the Greek bailout in the autumn will include bad bank loans and a labour relations overhaul likely to cause social unrest. / AFP PHOTO / Kostis Ntantamis

Weak profits may prod Deutsche Bank to speed up restructuring

Jul 28, 2016 - 3:30 PM

If the current weak economic environment persists we will need to be yet more ambitious in the timing and intensity of our restructuring says CEO John Cryan

epa05115695 A cash register sign can be seen near Deutsche Bank headquarters in Frankfurt am Main,†Germany, 21 January 2016. Deutsche Bank, Germany's largest lender, will likely report a net loss of about 6.7 billion euros (7.3 billion dollars) for 2015, largely due to restructuring charges and money set aside to cover legal costs. Full-year revenue for 2015 will likely be around 33.5 billion euros, the bank said in a statement 20 January 2016. EPA/ARNE DEDERT

London's City finance hub braces for possible Brexit

May 25, 2016 - 1:30 PM

Big banks insurance giants trading exchanges and accounting firms prepare contingency measures in case Britain leaves the European Union

epa05265778 A general view of the financial district of the City of London, London, Britain, 18 April 2016. The debate continues in British media over the potential economic consequences the UK will face if the so-called 'Brexit' goes ahead. Britain on 23 June will vote in a referendum whether to stay or to leave the Euopean Union. EPA/HANNAH MCKAY

7 banks to pay $324M to settle suit alleging interest rate manipulation

May 05, 2016 - 12:35 AM

The banks are accused of conspiring to set the daily benchmark rate for interest rate exchange contracts

epa02913523 (FILE) A file photo dated 22 April 2008 showing a view of a Bank of America branch in New York, New York, USA. Bank of America Corporation reported 12 September 2011 it would slash some 30,000 jobs within the coming years. The move is part of a strategy to cut costs and comes after a reorganization of the bank's management last week. Bank of America hopes to be able to save some five billion USD per year. EPA/JUSTIN LANE

7 banks extend operating hours to help decongest ports

Apr 04, 2016 - 5:30 PM

These banks are Deutsche Bank Security Bank Asia United Bank Metrobank RCBC BDO and EastWest

EXTENDED HOURS. The Bureau of Customs says it is already seeing faster movement within ports in terms of released shipments over the weekends

Ombudsman wants bank execs to testify on Corona's dollar account

Jan 31, 2016 - 4:15 PM

The Ombudsman asks the Sandiganbayan to summon bank officials to verify documents as it conducts an investigation on former Chief Justice Renato Corona

DOLLAR ACCOUNT. The Ombudsman has asked the Sandiganbayan to summon 2 bank officials to verify the authenticity of bank documents of dismissed Chief Justice Renato Corona and his wife Cristina. File photo by Paterno Esmaquel II/Rappler

Deutsche Bank to slash jobs, costs after record losses in Q3

Oct 29, 2015 - 8:17 PM

In a new cost cutting measure Germany s biggest lender also announces that it would pull out of 10 countries after it clocked up record losses in the third quarter

The headquarters of Germany's biggest lender Deutsche Bank is seen in Frankfurt am Main, western Germany, October 29, 2015. Deutsche Bank unveiled a massive new cost-cutting drive, saying it would axe thousands of jobs and close down operations in 10 countries after it clocked up record losses in the third quarter. AFP PHOTO / DANIEL ROLAND

PH tax system turns off foreign investors – Binay

Oct 07, 2015 - 5:52 PM

The Vice President says lower income tax rates will draw more foreign investments resulting in more jobs for the people and more revenues for the government

Jason Day off to hot start in race for golf's top ranking

Sep 05, 2015 - 12:29 PM

Fil Australian golfer Jason Day who is fresh off his first PGA Championship win finished round one of the Deutsche Bank Championship with a 3 under par 68

SUNNY DAY. Jason Day is 3 shots off the lead after one round. Photo by Maddie Meyer/AFP

Creating a culture of character in organizations

Jul 04, 2015 - 6:30 PM

Character is the ability to do the necessary hard things Wake up when you don’t want to wake up Work when you don’t want to work Give when you don’t want’ to give

CULTURE OF CHARACTER. Officials of Salt & Light Ventures share how character can be molded and measured in the workplace. All photos by Shadz Loresco

'Invest in PH now' - Gov't, business make pitch to US investors

Jun 29, 2015 - 12:27 AM

The conference is part of a high level 3 city trade mission aimed at encouraging US investment in the country

After BNP Paribas, US may hit other banks for sanctions-busting

Jul 03, 2014 - 10:37 AM

US authorities slammed BNP Paribas with 8 9 billion in penalties for sanctions busting and the blow raised speculation that some of its rivals in Europe would be punished but less severely

SANCTIONS-BUSTING. After French giant BNP Paribas, other big European banks may be in the cross-hairs of US authorities for sanctions-busting. File photo by Ian Langsdon/EPA

HSBC, 4 other banks sued for manipulating gold prices

Mar 06, 2014 - 10:41 AM

Five banks at the center of London s gold trade have been sued in New York for manipulating prices in the latest accusation of fraudulent collusion in the global finance hub

A class suit was filed against 5 big banks in New York over alleged manipulation of prices of gold and gold derivatives. AFP PHOTO

Fed expected to hold tight on stimulus after shutdown

Oct 26, 2013 - 3:27 PM

An analyst says the earliest date for the Fed tapering is likely to be March but June is a better bet

MONETARY STRATEGY. US Federal Reserve, chaired by Ben Bernanke, decides to keep interest rates?

Bank card payments suspended in Vatican

Jan 03, 2013 - 9:45 PM

Italian central bank sources saying the Vatican does not respect international anti money laundering norms and an Italian registered bank such as Deutsche Bank Italia can therefore not operate on its territory

Strongest performing Asian economy? The Philippines

Aug 13, 2012 - 5:32 PM

Michael Spencer Duetsche Bank s chief economist for Asia cites the Philippines impressive 6 4 growth in first quarter and strong exports sector

STANDOUT NATION. In an interview with Bloomberg Television, Michael Spencer, the Hong-Kong based chief economist for Asia at Deutsche Bank AG said the Philippines is the strongest economy in Asia. Screenshot from BloombergBusinessweek.

Europe's top banks feel pain from debt crisis

Jul 31, 2012 - 10:48 PM

Europe s biggest banks on Tuesday took massive hits on their second quarter profits as the eurozone debt crisis sliced into earnings and added to pressure to boost their capital defences

4 banking giants under spotlight in Libor scandal: FT

Jul 19, 2012 - 10:04 AM

Regulators are investigating Credit Agricole HSBC Deutsche Bank and Societe Generale over the Libor manipulation scandal that claimed the boss of British bank Barclays

RATE-RIGGING. Britain tightens the screws on troubled banks, vowing to overhaul a "broken" Libor interest rate system that damaged the financial sector's reputation and threatening to imprison those who abused it. File photo by AFP