Germany's second-largest bank, Commerzbank, is planning to cut between 4,000 and 6,000 jobs. The lay-offs are part of a larger trend of scaling back among German banks.
Chinese President Xi Jinping has opened a regional economic forum by calling for more cooperation among Asian nations. He urged Asia to build "a community of common destiny."
Washington looks increasingly isolated as another important ally joins the China-backed Asia Infrastructure Investment Bank (AIIB). Australia and Taiwan could be next, as a deadline for founding members approaches.
China's economy is lumbering at its slowest pace in nearly 25 years, unsettling monetary policy makers. On Monday, Chinese stocks surged to 7-year highs on hints of further stimulus and a massive infrastructure project.
A fight for dominance of Portugal's banking sector has erupted in the wake of the break-up of Banco Espirito Santo. The contenders are several Spanish banks and the daughter of Angola's president, Isabel dos Santos.