German investment bank faces angry shareholders after announcing a wide-ranging restructuring that could hit the City hardDeutsche to cut headcount from 97,000 to well below 90,000Jobs at risk at Postbank, the City, and the USBank employs 8,500 people in the UKCEO: We must focus on what we do wellMove follow three years of lossesChairman Paul Achleitner faces no-confidence vote today 6.26pm BST Out of the mouths of babes and young shareholders....14-year-old Deutsche Bank shareholder just addressed the AGM. Approves of move to retrench in U.S. Achleitner says he hopes the student graduates soon so he can come to Deutsche Bank. 5.00pm BST The cancellation of the US-North Korea summit has sent a new bout of geopolitical jitters through the markets.Britainīs FTSE 100 has closed 71 points lower at 7716, a drop of nearly 1%.With trade war fears with China still circulating, Trump aggravating the global community with potential tariffs on the automobile industry and now a cancellation of the Summit with North Korea the geopolitical climate is looking extremely fragile and this is clearly unnerving the markets. Traders are taking risk off the table, selling out of global equites whilst flows into safe havens such as the Japanese Yen and gold are on the up. Whilst the Japanese yen is over 1% higher, gold has pushed back above $1300 for the first time in over a week. 3.05pm BST Newsflash: Shares are dropping across the globe, after Donald Trump dramatically cancelled next monthīs summit meeting with North Korea.In a letter just released, the US president said he was cancelling the meeting with Kim Jong Un `for the good of both parties, but to the detriment of the world`. Related: Trump cancels North Korea nuclear summit A letter from the President to Chairman Kim Jong Un: `It is inappropriate, at this time, to have this long-planned meeting.` pic.twitter.com/3dDIp55xu1 2.52pm BST Deutsche Bankīs AGM may drag on for some time yet, as there are scores of shareholders keen ...
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