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The finance minister in the German state of Hesse, Thomas Schaefer, has taken his own life. His colleagues said he was pushed over the edge by an inability to cope with the harsh economic fallout from the Covid-19 pandemic.
The coronavirus pandemic will trigger a serious downturn in the German economy, European Central Bank (ECB) Governing Council member and Deutsche Bundesbank chief Jens Weidmann has said.
As part of a radical $8.3 billion restructuring plan, the multinational Deutsche bank has so far axed over 4,000 jobs, with some 18,000 more staff cuts to come by 2022.
Since his arrest, Jeffrey Epstein’s story has spiraled from one of sexual depravity to one of shady dealings at the highest levels of international finance. RT’s Rick Sanchez asks: can justice overcome the power of money?
German multinational Deutsche Bank (DB) is currently facing massive problems, and its efforts to restructure have been greeted with doubt.
Some managing directors at Deutsche Bank’s office in the City of London on Monday were being fitted for suits costing more than £1,000 ($1,250). The same morning, the bank began massive layoffs across the world.
When traditionally stable institutions like Deutsche Bank find themselves in trouble, it’s a signal that the world’s financial system will face big problems down the road, legendary investor Jim Rogers has told RT.
Numerous Deutsche Bank employees around the globe were told to leave on Monday, with the German lender eliminating entire teams in Asia and Australia as part of its massive plan to “restart” some business operations.
Germany’s biggest lender, Deutsche Bank, has taken control of 20 tons of gold belonging to Venezuela as collateral after Caracas defaulted on a gold swap agreement valued at US$750 million.