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.
Germany’s financial giant Deutsche Bank has ended a decade-long legal battle with the heirs of late media mogul Leo Kirch. The settlement will dent the bank’s profit, but help shorten a long list of similar litigation.
Deutsche Bank has suffered a massive drop in profits as the fallout from the financial crisis continues to plague Germany’s biggest lender. Embroiled in major scandals, the bank expects challenging times ahead.
The private sector should be allowed to develop innovative solutions to combat climate change, with governments playing an enabling role, according to Caio Koch-Weser, Chairman of the European Climate Foundation.
Already struggling with a bad reputation for past banking practices, Deutsche Bank has suffered another blow in the effort to polish its image. Top brass at Germany's largest bank are under investigation for tax evasion.
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