Deutsche Bank will no longer do business with President Donald Trump, a move that will cut off his business from a major source of loans that once helped fund his golf courses and hotels.
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The private bankers responsible for lending to President Donald Trump and Jared Kushner have resigned from Deutsche Bank, the bank said.
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Employees reaping the financial benefits of working from home should be taxed to help other workers who aren’t getting the same advantages, experts at Deutsche Bank – which has a big software development operation in Cary – says in a new report.
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Deutsche Bank reported its third straight quarterly profit as loan losses diminished and as revenues rose at its investment bank. Its CEO praised the giant’s continuing “transformation,” part of which has meant job cuts at its software development operation in Cary.
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Shares of some major banks are tumbling before the market open Monday following a report alleging those including JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon continued to profit from illicit dealings with disreputable people and criminal networks despite being previously fined for similar actions.
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Deutsche Bank informed its staff this week they don’t need to return to the office at 60 Wall Street until July 2021, according to an internal memo obtained by CNN.
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The workforce at the big Deutsch Bank technology center in Cary knows quite well just how had the global economoy has suffered from the side effects of the COVID-19 pandemic. For example, layoffs. But their CEO is grim about just how big an economic recovery will be.
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Deutsche Bank, which has a major tech outpost in Cary, reported a small net profit of some $60 million in the second quarter as cost-cutting and revenue growth outweighed increased loan losses due to the virus outbreak.
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Last year, the global banking giant had around 900 workers in Cary, WRAL TechWire reported. That number has dropped to 577, according to the firm’s update on its headcount to the Commerce Department on Tuesday.
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