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DB

Deutsche Bank

$13.59

0.26 (1.95%)

08:50
10/06/16
10/06
08:50
10/06/16
08:50

Deutsche Bank to cut another 1,000 jobs in Germany in restructuring

Deutsche Bank has reached an agreement with its Group and General Works Councils and signed all remaining balance of interests agreements planned for 2016 on role reductions in Germany. After announcing the agreements on the reduction of 3,000 jobs roles in June 2016, another 1,000 jobs will now be reduced. This brings the total number of role reductions in Germany to around 4,000. These are part of 9,000 jobs being reduced worldwide to make the Group more competitive as part of Strategy 2020. The first round of negotiated agreements in June relating mainly to the private and commercial banking business in Germany are already being implemented. Negotiations during the second and third rounds covered around 450 jobs in the bank's Chief Operating Office, an infrastructure function. The remaining job reductions will be spread across the Human Resources Department, Communications & Corporate Social Responsibility, Deutsche Asset Management, Global Markets and Corporate Finance and DB Research, the macroeconomic research unit. The staff reductions will be carried out in a timely, transparent and responsible manner for every impacted employee. Whenever possible, the Bank intends to offer affected employees vacant positions within the Group. Furthermore, the bank will also assist affected employees in finding new jobs outside of the company where necessary.

  • 23

    Oct

DB Deutsche Bank
$13.59

0.26 (1.95%)

09/19/16
FBCO
09/19/16
INITIATION
FBCO
Underperform
Deutsche Bank initiated with an Underperform at Credit Suisse
Credit Suisse analyst Jon Peace initiated Deutsche Bank with an Underperform saying the recent slow filing and capital shortfall will lower dividend expectations and keep shares under pressure.
09/19/16
09/19/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. DSW (DSW) initiated with a Negative at Susquehanna. 2. Deutsche Bank (DB) initiated with an Underperform at Credit Suisse. 3. UBS (UBS) initiated with a Neutral at Credit Suisse. 4. Cerner (CERN) initiated with a Neutral at BofA/Merrill. 5. Callidus Software (CALD) reinstated with an Outperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/29/16
COWN
09/29/16
NO CHANGE
COWN
DoJ will not destabilize Deutsche Bank, says Cowen
Cowen analyst Jaret Seiberg sees little practical or political upside for the Justice Department to press Deutsche Bank for a penalty that is so large it could destabilize the bank and create a new financial crisis. He expects the penalty for violations related to mortgage-backed securities to be structured below the speculated $14B that seems to have alarmed the market. Seiberg adds both sides have incentives to reach a deal quickly.
09/30/16
09/30/16
NO CHANGE

Correction: Deutsche Bank credit upgraded to Neutral at BofA/Merrill
BofA/Merrill upgraded Deutsche Bank's credit to Neutral, not the equity.

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$NYE

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GE

General Electric

$24.65

0.33 (1.36%)

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ICPT

Intercept

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SNAP

Snap

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YELP

Yelp

$43.73

-0.44 (-1.00%)

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  • 03

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ICPT

Intercept

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PSTG

Pure Storage

$15.32

0.49 (3.30%)

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NLSN

Nielsen

$40.48

0.06 (0.15%)

, CBS

CBS

$58.90

-0.155 (-0.26%)

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Nielsen

$40.48

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CBS

CBS

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ALNY

Alnylam

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ESRX

Express Scripts

$61.82

0.82 (1.34%)

, NVS

Novartis

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NVS

Novartis

$85.01

-0.77 (-0.90%)

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ALNY

Alnylam

$113.84

38.8 (51.71%)

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MTX

Minerals Technologies

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HOG

Harley-Davidson

$48.01

-0.345 (-0.71%)

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ICPT

Intercept

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HCA

HCA Holdings

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ILG

ILG

$25.87

0.56 (2.21%)

, VAC

Marriott Vacations

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Periodicals
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ILG

ILG

$25.87

0.56 (2.21%)

VAC

Marriott Vacations

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  • 08

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MO

Altria Group

$61.30

0.0801 (0.13%)

, BTI

British American Tobacco

$61.78

-0.26 (-0.42%)

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Periodicals
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MO

Altria Group

$61.30

0.0801 (0.13%)

BTI

British American Tobacco

$61.78

-0.26 (-0.42%)

PM

Philip Morris

$112.96

-0.47 (-0.41%)

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$NSD

NASDAQ Market Internals

14:17
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