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.
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 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.
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