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  1. Wealth
February 5, 2009

FT: Deutsche makes first loss in 50 years

By Spear's

Deutsche Bank revealed the havoc wreaked upon its securities trading business in months of “unprecedented” market turmoil and said it saw “very difficult conditions” continuing for the global economy.

From the Financial Times:

Deutsche Bank revealed the havoc wreaked upon its securities trading business in months of “unprecedented” market turmoil and said it saw “very difficult conditions” continuing for the global economy.

Josef Ackermann, chief executive of Germany’s largest bank, said he was still convinced that Deutsche would emerge successfully from the current crisis as he confirmed its biggest post-war annual net loss of €3.9bn ($5bn).

To read the full article, visit FT.com

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