LOWER PROFIT: Deutsche Bank's second quarter earnings slid 46 percent, as Europe's debt crisis hurt profits at its investment banking business. Germany's largest bank said it will cut about 1,900 jobs, mostly in investment banking.
CLIENTS SHY AWAY: Its investment banking division saw income fall as fewer companies came to the bank requesting its services to issue shares, or for advice on buying or merging with other companies in the midst of the debt crisis.
LIBOR SCANDAL: The bank faces uncertain consequences from an investigation into the alleged rigging of benchmark interest rates known as Libor, or London Interbank Offered Rate, by employees of different banks. Deutsche Bank has said it is cooperating with investigations. Bank officials said the bank has found questionable activities were limited to a small group of individuals who have already been sanctioned.
