The troubled lender helped the disgraced financier move money outside the U.S. for years. Source: NYT > Business –
Deutsche Bank Reports Big Loss as Overhaul Costs Bite
Severance payments and other costs of a turnaround plan pushed the Frankfurt lender into the red during the second quarter. Source: NYT > Business – Jack Ewing
Jeffrey Epstein Moved Money Overseas in Transactions His Bank Flagged to U.S.
Employees at Deutsche Bank reported potentially illicit transactions to a federal regulator. Mr. Epstein, who is charged with sex trafficking, had dozens of accounts at the bank. Source: NYT > Business – David Enrich and Jo Becker
The Week in Business: Amazon Won’t Let the Robots Take Over
Plus, the Trump administration has a big job opening, and there’s a new technology tax. Source: NYT > Business – Charlotte Cowles
Deutsche Bank Caught Up in Scandal Over Malaysian 1MDB Fund
Deutsche Bank is under federal investigation for its role in helping raise money that was funneled to Malaysia’s former prime minister. Source: NYT > Business – Emily Flitter
Jeffrey Epstein’s ‘Infinite Means’ May Be a Mirage
Mr. Epstein, facing sex-trafficking charges, has long been hailed as a financial wizard. He got rich with the help of two wealthy connections, but there is little evidence he’s a billionaire. Source: NYT > Business – James B. Stewart, Matthew Goldstein, Kate Kelly and David Enrich