What's moving markets today: Live updates - CNN

Shares of Germany's biggest bank hit a record low in European trading on Monday, piling more pressure on management ahead of the company's annual shareholder meeting later this week.

Deutsche Bank shares dropped almost 3% after UBS changed its rating of the company's stock to "sell" from "neutral." Shares are down almost 40% in the past year.

The thinking: Deutsche Bank's revenues are shrinking and "remain under pressure," UBS said. It doesn't expect any big strategic moves soon.

Up next: CEO Christian Sewing has faced calls to articulate a new plan for the struggling bank after a potential merger with Commerzbank fell apart last month. There could be fireworks if he fails to do so at the annual meeting on Thursday.

What else: The New York Times reported that Deutsche Bank anti-money laundering specialists once recommended that transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a US agency that investigates financial crimes. The Times said executives at Deutsche Bank rejected the advice of their specialists.

• CNN Business could not immediately verify any of the claims.
• Deutsche Bank told CNN Business: "At no time was an investigator prevented from escalating activity identified as potentially suspicious.”

Let's block ads! (Why?)

https://www.cnn.com/business/live-news/stock-market-news-today-052019/index.html

2019-05-20 16:13:00Z
CBMiUGh0dHBzOi8vd3d3LmNubi5jb20vYnVzaW5lc3MvbGl2ZS1uZXdzL3N0b2NrLW1hcmtldC1uZXdzLXRvZGF5LTA1MjAxOS9pbmRleC5odG1s0gFUaHR0cHM6Ly9hbXAuY25uLmNvbS9jbm4vYnVzaW5lc3MvbGl2ZS1uZXdzL3N0b2NrLW1hcmtldC1uZXdzLXRvZGF5LTA1MjAxOS9pbmRleC5odG1s

Bagikan Berita Ini