8, July 2019
Deutsche Bank to cut 18,000 jobs in 7.4 bln euro overhaul 0
Deutsche Bank on Sunday (July 7) said it plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender.
The plan represents a major retreat from trading by Deutsche Bank, which for years had tried to compete as a major force on Wall Street.
The bank will scrap its global equities business and scale back its investment bank. It expects a 2.8 billion euro ($3.1 billion) net loss in the second quarter as a result of restructuring charges.
Beyond the expected cutbacks to equities, Deutsche said it would also axe some of its fixed income operations, an area traditionally regarded as one of the bank’s strengths.
It will create a new unit to wind-down unwanted assets, with a value of 74 billion euros of risk-weighted assets.
Chief Executive Officer Christian Sewing flagged an extensive restructuring in May when he promised shareholders “tough cutbacks” to the investment bank. The pledge came after Deutsche failed to agree a merger with rival Commerzbank.
“We have started the most fundamental transformation of the Deutsche Bank for decade,” Joerg Eigendorf, Deutsche Bank head of communications told reporters on Sunday. “A new era starts for the Deutsche Bank. A new era, in which we aim to lead Deutsche Bank back onto the path of success for our clients, for our staff and of course for our shareholders,” he added.
Media reports had suggested that Deutsche Bank could cut as many as 20,000 jobs more than one in five of its 91,500 employees.
The bank did not disclose a geographic breakdown of the job cuts. The equities business is focused largely in New York and London.
A person with direct knowledge of the matter said job cuts would be distributed around the world, including in Germany.
The bank’s supervisory board met on Sunday to agree the proposed changes, one of the biggest announcements of job cuts at a major investment bank since 2011 when HSBC said it would axe 30,000 jobs.
(Source: Reuters)






















8, July 2019
Ambazonia: Interim Gov’t Announces Total Lockdown 0
TOTAL LOCKDOWN OF AMBAZONIA AS OUR LEADERS GO TO LRC KANGAROO MILITARY COURTS TUESDAY 9th JULY 2019
Fellow Ambazonians,
I come to you with revolutionary greetings.
In September 2017, our people took to the streets to demand their civil and constitutional rights but were met with gunshots. Tens of our innocent armless citizens were murdered whilst engaging in peaceful protests. War was declared on us by the terrorist government of La Republique du Cameroun. Since then, hundreds of thousands of our people have been internally displaced, more than fifty thousand are living as refugees in Nigeria whilst more than three thousand have been brutally murdered. More than two hundred and ten of our villages have been burned down and thousands of our people are now living in the forests. The damage our innocent people have and are facing is unbearable.
On the fifth of January 2018, this terrorist government showed utter disdain for international law by abducting our leaders in Abuja, Nigeria. Their continuous detention at the Principal Prison in Yaounde is against international law despite the Abuja High Court Decision declaring their return to Nigeria and that they be paid Compensation by the Nigeria Government for illegally abducting and transferring them to Yaoundé. They have since been engaged in a mockery called a trial at the military court in Yaounde.
Last week’s visit of United States Congressmen and Congresswomen led by Mrs Karen Bass to Yaounde shows some of the work we have been doing in the background is paying dividends. It’s a small step but it’s in the right direction. As we continue exploring diplomatic and peaceful options to attain our independence, we MUST take all necessary measures to protect and defend ourselves.
Tomorrow, Tuesday the 9th of July 2019, our leaders will be appearing at the military court in Yaounde. We condemn their continuous detention and that of hundreds of our comrades detained unlawfully without trial in many prisons around La Republique du Cameroun.
Following tomorrow’s court appearance, your Interim Government in solidarity with our Ground Zero commanders and self-defense forces herby support and reinforce the Ground Zero tradition of complete shot down of the Ambazonia Territory each time our Leaders appear in Court. To this regard tomorrow, Tuesday the 9th of July 2019 be observed as a Lockdown all over our country, Ambazonia. This is to show solidarity with our leaders and contempt to the enemy. All business activities, schools, transportation services are called upon to respect this notice.
Monday remains our traditional Country Sunday until we free our land. The Interim Government thanks all Ambazonians on Ground Zero for all your sacrifices as we join efforts to free homeland.
As we continue to fight for our freedom, we would take this opportunity to remind you that it’s freedom or resistance forever.
God Bless You God Bless the Federal Republic of Ambazonia
Milton Taka SOS DCIT/IG SPOKESPERSON