U.S. Markets open in 8 mins

Deutsche Bank will 'sharply' scale back its US presence and global equities trading: Report

Kate Rooney

Deutsche Bank will "sharply" reduce its presence in the U.S. as the bank dials down its global equities trading business, according to reports. The German lender has already started slowing down activity in Central Europe and the Middle East and Africa region, Bloomberg reports, citing people familiar with the matter. Executives are also closing in on previously announced plans to cut roughly 10 percent of staff that will likely extend into 2019, Dow Jones reports.