Some 500 German police officers have raided the headquarters of the Deutsche Bank in Frankfurt, arresting five employees. Officials say staff are suspected of involvement in tax evasion and money laundering.
Global temperature will continue to rise to dangerous levels, unless emissions are reduced. Germany economist Ottmar Edenhofer says a price on carbon is the answer.
An investigative journalism group says that many global companies have slashed their tax bills by signing secret deals with Luxembourg. But the tax avoidance schemes are completely legal.
Deutsche Bank has said it expects to pay close to 900 million euros in legal fees in the third quarter. The high price tag comes as Germany's largest lender fights charges of interest rate manipulation and other sins.
Ratings agency Moody's has slashed the credit rating of Germany's biggest lender. It said it wasn't convinced Deutsche Bank would return to higher profits, as expressed in the bank's latest earnings report.
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