Business Extra: Deutsche Bank's giant dose of medicine
A €7.4 billion overhaul including 18,000 job cuts worldwide has been put in motion to get the German institution back on a growth path. Also, Alice Haine provides the smartest tips for managing your money while on your summer holidays
Host Mustafa Alrawi, Assistant Editor in Chief, and Chris Nelson, Assistant Business Editor, discuss Deutsche Bank's sweeping revamp.
This week the German bank announced it will shrink its trading activities by 40 per cent through an unprecedented withdrawal from equities. About 18,000 jobs, almost 20 per cent of the workforce, will go around the world, including in London. The overhaul is forecast to cost €7.4 billion (Dh30.45bn).
We break down India's budget and despite a lack of 'big bang', explain how it still puts the country on the path towards meeting its 2025 objective of doubling the size of its economy. Plus Sir Richard Branson's space tourism ambitions kick up a gear with IPO plans for Virgin Galactic.
We also speak to Alice Haine our personal finance editor about how to best manage your money during the summer holidays. We settle that age old debate about cash versus cards and which currency should you make credit card payments in - local or dirhams.
In this episode:
- Headlines (0 minutes 53 seconds)
- Deutsche Bank discussion (1m 45s)
- India's budget (8m 0s)
- Virgin Galactic (12m 19s)
- Summer money tips with Alice Haine (14m 15s)
Updated: July 10, 2019 05:49 PM