Crypto Exchange Binance is More Profitable than Germany's Biggest Bank Deutsche

The cuts will result in job losses and include a scaling-back of its business with hedge funds

Underscoring the problems at the investment bank, the trading revenue in the initial quarter fell by 17 percent from a year earlier, as compared with a 12 percent hike at USA rivals.

Deutsche Bank is backing out of the US and Asia to focus on its European client base, the firm announced Thursday. "There is no time to lose as the current returns for our shareholders are not acceptable". Earlier this month, JPMorgan analysts recommended that Deutsche pull back from its U.S. operation - particularly equities and rates - to unlock value for shareholders.

By 1240 BST, Deutsche Bank share were 1.97% lower at €11.75.

Facebook didn't read terms and conditions for app behind Cambridge Analytica
The all-important Average Revenue Per User, meanwhile, reached $5.53, up YoY but down from the last quarter. The category includes efforts to root out fake accounts, scrub hate speech and take down violent videos.

Deutsche Bank has announced plans for a substantial investment bank shake-up after reporting a sharp drop in profits, saying it will be making significant workforce cuts.

Deutsche Bank is making radical changes to its underperforming investment bank and is likely to cut headcount significantly as it retrenches from the United States and focuses on the European market.

Christian Sewing, the new CEO of Deutsche Bank expressed that he believes they are on the right track regarding private and commercial banking but they need to boost their profits substantially. In global equities, it wants to reduce leverage exposure to prime finance, focusing on the deepest relationships. "Therefore we have to act decisively and to adjust our strategy". It joined the ranks of global securities firms with the 1989 purchase of British merchant bank Morgan Grenfell and a decade later purchased Bankers Trust, a NY derivatives house. This company shares are 7.65% off its target price of $15.91 and the current market capitalization stands at $31.07B. Their departures, tied to the CEO change, are part of the third high-level shake-up at the lender since Mr. Cryan took over as CEO less than three years ago.

London Stadium set to miss out on hosting Cricket World Cup matches
As a result, India's opening match against South Africa would be played on June 5, 15 days after the 2019 IPL final. Of the ten participating teams, four will march into the knockouts during the month and a half-long tournament.

For the past months, Deutsche Bank had been reviewing the securities unit again to weed out unprofitable parts where it can no longer compete with its bigger US rivals.

Marcus Schenck, the former co-head of investment banking who had been a strong internal contender to replace Cryan, left amid the recent management shake-up. Deutsche Bank Aktiengesellschaft (NYSE:DB) has declined 18.76% since April 25, 2017 and is downtrending.

Deutsche Bank said today that it plans to focus its consumer bank on growing markets like Italy and Spain while in wealth management, the bank will look to grow in Germany and in global markets, Deutsche Bank said. The bank aims to get more profits by the end of the year through its $800 million restructuring project and a considerable cut of employees. The bulk of the cuts will focus on the USA and Asia.

Strong 1st quarter from Comcast, and a $30B bid for Sky
Sky's shares rose 3 per cent to 13.40 pounds at 11.03 a.m.in London, a 7 per cent premium to Comcast's offer. The bid represents a 16% premium on the latest offer from Murdoch's 21st Century Fox .

Related news:

Hot News

isis-killer-beheading-video-story-top Echo of Varuna ticket denial to BY Vijayendra
Apr 27, 2018 - 01:02
Siddaramaiah now holds Varuna but has moved to neighbouring Chamundeshwari to introduce his doctor son to politics. He was followed by D V Sadananda Gowda and Jagadish Shettar - for just over 300 days each - in the BJP government.

isis-killer-beheading-video-story-top Trump praises Kanye West for his 'great taste' on Fox & Friends
Apr 27, 2018 - 01:00
For example, fellow rappers Ice T and Smino issued tweets indicating they're clearly not backing West's political affiliation. Chance wrote on Twitter, " Black people don't have to be democrats " and said the next president is "gon be independent".

isis-killer-beheading-video-story-top Sunshine briefly returns Thursday before more shower chances arrive
Apr 27, 2018 - 00:59
Some more breaks of sunshine are expected for Thursday , as well, to go along with high temperatures climbing back into the 60s. Highs should reach the upper 60s to near 70, with light winds from the northwest and west around 5 to 10 miles per hour .

isis-killer-beheading-video-story-top Armenia marks massacre by Ottoman Turks 103 years ago
Apr 27, 2018 - 00:58
The Turkish president offered condolences to the families of Ottoman Armenians who lost their lives during the 1915 events. April 24 at the same time reminds us about our greatest losses and the fact how firm, unbending and vital we are.

isis-killer-beheading-video-story-top Toronto van attack suspect faces murder charges in court
Apr 27, 2018 - 00:57
Police said an additional attempted murder charge would be laid against the 25-year-old from Richmond Hill, Ont., by day's end. The Toronto District School Board said she had worked as a nutrition services staff member for the board since 2015.

isis-killer-beheading-video-story-top Bill Cosby's outburst after guilty verdict: 'You a**hole'
Apr 27, 2018 - 00:56
Among the accusers was model and reality TV star Janice Dickinson, who testified that Cosby drugged and assaulted her in 1982. The seven men and five men spent hours going over testimony and evidence from a case that ended in a hung jury in 2017.

isis-killer-beheading-video-story-top Armenia to Elect New Prime Minister on May 1
Apr 27, 2018 - 00:56
Meanwhile, President Armen Sarkisian said on April 26 that the country was experiencing a "new page" in its history. The Republican Party holds a majority in parliament.

isis-killer-beheading-video-story-top ECB's Draghi talks the latest on rates and bond-buying
Apr 27, 2018 - 00:52
This suggests the euro zone's economic downturn was more severe than earlier thought and makes the recovery even more protracted. The Euro was sold off by investors when Draghi spoke after the central bank announced it's latest monetary policy decision.

isis-killer-beheading-video-story-top Lawyers for Trump, Cohen to return to court over seized documents
Apr 27, 2018 - 00:52
Attorney for the Southern District of NY ". "He would have done a great job... and they're trying to destroy a guy", Trump said. He said Wednesday that he would assert his constitutional right against self-incrimination in that case.

isis-killer-beheading-video-story-top Rahul Gandhi launches nationwide 'Save the Constitution' campaign
Apr 26, 2018 - 12:53
Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Attacking Gandhi, he said the Congress president keeps asking what had been done in four years of the Modi government.

Russia Says Will Deliver New Air Defense Systems To Syria Soon
Apr 26, 2018 - 12:49
When the OPCW's fact-finding mission arrived in Damascus on April 14, it was delayed during its first entry to Douma by attacks . They repeatedly blamed the rebels and opposition activists for possessing and deploying chemical weapons .

isis-killer-beheading-video-story-top The freed rapper was released from prison yesterday
Apr 26, 2018 - 12:47
He tweeted Tuesday that he was on his way to pick up the rapper from prison. "For him to come to this type of game". Philadelphia 76ers co-owner Michael Rubin sits down with CBS3 to discuss Meek Mill's release from prison .

isis-killer-beheading-video-story-top 'Schoolhouse Rock' songwriter Bob Dorough dies
Apr 26, 2018 - 12:44
Dorough wrote and performed iconic numbers including " My Hero, Zero " and " Three Is a Magic Number ". Born in Arkansas, Dorough grew up in Texas.

isis-killer-beheading-video-story-top Australia: Admiral to Become US Ambassador to South Korea
Apr 25, 2018 - 16:10
South Korea and the United States are now planning to hold respective summits with North Korea. In the meantime, Charge d'Affaires Jim Caruso will continue to act in the role.

isis-killer-beheading-video-story-top Man who stopped Tennessee mass shooter honored as hero
Apr 25, 2018 - 16:09
Reinking was formally charged late Monday with four counts of criminal homicide and held on a $2 million bond, court records show. Reinking agreed to go to a local hospital for an evaluation after repeatedly resisting the request, the sheriff's report said.