Our lead story: Germany’s largest bank is under pressure from investors to follow its rivals (like UBS and Credit Suisse) in scaling back on its unprofitable operations. In the wake of its $2.5 billion Libor rigging fine, Deutsche Bank will cut €200 billion in investment bank assets and pull-back from a tenth of the countries in which it operates. They are doing this in an effort to reduce risk and boost earnings. Erin weighs in.
Then, Erin sits down with Frances Coppola – associate editor at Pieria and blogger at “Coppola Comment.” Frances tells us what she would do (if she were Queen of Europe) to optimize the European Union and gives us her take on crises brewing in other European countries.
After the break, Bianca gives us a daily news update on other major business headlines including Jeb Bush’s record fundraising, the fall of Bitcoin, US services sector activity, a possible Brexit, and Apple earnings.
Afterwards, Ameera is joined by John Brynjolfsson – CIO of Armored Wolf. John tells us what impact he thinks currency swings will have on US multinationals earnings levels and what sectors of the equity universe he thinks offer value at these levels.
And in The Big Deal, Erin and Edward discuss Greece’s imminent default.
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https://www.youtube.com/watch?v=id6wBKeruW0