FRANKFURT—Deutsche Bank chief Christian Sewing, painting a bleaker assessment of the Germany economy, on Wednesday warned that China was a considerable risk for the nation and that Europe needed big banks to fend off American competitors. Sewing, speaking at a conference in Frankfurt, said Germany would “no longer be able to avert a recession”. He…
Deutsche Bank Extends Profit Streak in Q2 but Warns on Economy
July 27, 2022
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FRANKFURT—Deutsche Bank posted a better-than-expected 51 percent rise in second-quarter profit on Wednesday as investment banking revenues rose, though the lender was less optimistic about the division’s prospects for the full year and warned about the economic outlook. Germany’s largest lender also dropped its cost target for the full year and was more cautious about…
Growing Inflation and Rising Interest Rates Will Make a Recession More Likely: Deutsche Bank Officials
Western economies in Europe and the United States are facing a greater likelihood of recession as their central banks aggressively tighten monetary policy to combat inflation, according to Deutsche Bank CEO Christian Sewing in a June 24 interview on CNBC. In the week of June 13, the U.S. Federal Reserve, European Central Bank, Swiss National Bank, and Bank of…
Deutsche Bank Expecting ‘Somewhat More Severe Recession’ in Near Future
Deutsche Bank has projected that a “more severe recession” is likely to occur in the near future and earlier than it had previously predicted amid aggressive interest rate hikes by the Federal Reserve and signs of an economic slowdown. “More than two months ago, we forecasted that the U.S. economy would tip into a recession…
Deutsche Bank Investors Can Sue in US Over Epstein, Russian Oligarch Ties
NEW YORK—A U.S. judge on Monday said shareholders can sue Deutsche Bank AG for allegedly hiding shortfalls in its internal controls while doing business with risky, ultra-rich clients like the sex offender Jeffrey Epstein and Russian oligarchs. U.S. District Judge Jed Rakoff in Manhattan said shareholders may try to prove in their proposed class action…
Elon Musk Takes Dig at Deutsche Bank’s ‘Greenwashing’ Raid After Tesla ESG Snub
Billionaire entrepreneur Elon Musk has taken a jab at environmental, social, and governance (ESG) investment funds after news broke that German authorities raided Deutsche Bank and asset management company DWS Group due to alleged “greenwashing” of its ESG funds. Greenwashing refers to processes by which companies falsely present themselves as more pro-environment than they really…
Here’s Why US Is Probing Deutsche Bank, Other Banks
Deutsche Bank AG. is among several investment banks included in a comprehensive industry-wide U.S. regulatory probe, Bloomberg reports. The investigation determines the degree of employee reliance on private communication channels like Meta Platforms Inc.’s WhatsApp to conduct business. Deutsche Bank tested new software to improve its ability to archive messages and has repeatedly warned staff not to…
Higher Gas Prices Result in $160 Billion More Spent on Gasoline: Report
Retail gasoline prices have risen by $1.40 per gallon on average nationwide over the past year, squeezing consumer budgets and limiting spending on non-energy items. “If sustained, consumers will shell out nearly $160bn more for gasoline relative to last year,” a new report by Deutsche Bank says. Pump prices continue to soar, reaching another all-time high…
Federal Informant in Trump Investigation Found Dead After He’s Reported Missing
A federal informant who worked with federal authorities investigating links between former President Donald Trump and Deutsche Bank was found dead in Los Angeles on Monday, officials said. The Los Angeles County Coroner’s office said Val Broeksmit was pronounced dead at 7 a.m., Sgt. Rudy Perez of the Los Angeles School Police Department told local media. Los Angeles…
Federal Informant in Trump Investigation Found Dead
A federal informant who worked with federal authorities investigating links between former President Donald Trump and Deutsche Bank was found dead in Los Angeles on Monday, officials said. The Los Angeles County Coroner’s office said Val Broeksmit was pronounced dead at 7 a.m., Sgt. Rudy Perez of the Los Angeles School Police Department told local media. Los Angeles…
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