Late-2000s financial crisis
  • FRANKFURT, Germany (AP) — Deutsche Bank said Tuesday it plans to cut about 1,900 jobs, most of them outside Germany, as Europe's debt crisis hurt profits at its investment banking business.

    Germany's largest bank, which employs nearly 101,000 people, said second quarter earnings slid 46 percent to 661 million from 1.233 billion in the same three months a year ago.

    Market turbulence and subdued client activity due to Europe's problems with too much government debt were behind the decline, with revenues down 6 percent to 8.0 billion.

    LAST UPDATE : Aug 23, 2012, 4:49 PM EDT
  • U.S. stocks fell on Tuesday as investors cashed in gains after driving the S&P 500 index to its highest in four years, but the euro rallied against the dollar on hopes the European Central Bank will soon start buying Spanish and Italian bonds to contain the debt crisis.

    LAST UPDATE : Aug 23, 2012, 3:45 PM EDT