Deutsche Bank said it expects to post a net loss of $3.14 billion as a result of restructuring-related costs
Investors sent shares in Deutsche Bank AG sharply lower Monday as they cast a skeptical eye on the German lender’s plan to radically restructure its business.
In early afternoon trade the bank’s shares were down 4.8% at €6.83. The bank’s shares earlier had risen more than 4% after Deutsche Bank released an outline of its plan on Sunday to cut 18,000 jobs, significantly shrink its investment bank and reduce costs by one-quarter.
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