Deutsche Bank has released its worst set of quarterly results since 2008. Management blamed restructuring measures for the losses of 2.2 billion euros, although litigation costs were also a drain on annual profits.
The president of one of the world's top football clubs, Bayern Munich, has admitted to tax evasion on a larger scale than even the prosecution had claimed. He said he wanted to come clean - and avoid a prison sentence.
The president of football club Bayern Munich's, Uli Hoeness, is standing trial in Munich in a tax evasion case that has dominated headlines in Germany for over a year. If found guilty, he could face prison.
Deutsche Bank has announced a net loss of almost one billion euros, citing litigation costs. The bank said it expects further challenges in the months to come, but that the situation should improve next year.
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.
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