The most dangerous bank in the world just got a bit more dangerous.
Deutsche Bank AG (DB), Germany’s biggest lender and, until recently, one of the world’s biggest banks, endured a week from hell that sent its shares tumbling to lows not seen in more than 30 years.
On Friday, in European trading, DB shares at one point fell 9 per cent, taking them under €10 ($14.75 Canadian) before reversing course to close up 6 per cent as reports surfaced that the U.S. Department of Justice might be willing to settle a probe into mortgage-backed securities for less than half of the initial demand of $14-billion (U.S.).
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