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Deutsche Bank's Quarter to Forget

Lionel Laurent
Deutsche Bank's Quarter to Forget

The sun is setting on the second quarter, and not a moment too soon for Deutsche Bank AG. In 90 days, the German lender has replaced its CEO, promised thousands of job cuts, seen its credit rating downgraded, and watched its share price plumb new depths. Flunking the U.S. Federal Reserve's stress tests was a final humiliation, albeit an expected one.