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Josef Ackermann, chief executive of Deutsche Bank, Germany's biggest bank, has warned that "numerous" European lenders would collapse if they were forced to book their losses on stricken sovereign bonds.Mr Ackermann said that the value of billions of euros of loans has plunged to a level that could overwhelm smaller banks. "Numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels." "We should resign ourselves to the fact that the 'new normality' is characterised by volatility and uncertainty," he said. "All this reminds one of the autumn of 2008." Deutsche Bank...

(Reuters) – Goldman Sachs Group Inc (GS.N) and Deutsche Bank AG (DBKGn.DE) were issued subpoenas by a U.S. Senate panel looking for evidence of fraud in the 2008 mortgage-market meltdown, the Wall Street Journal said, citing people familiar with the matter. The paper said the focus of the investigation is on whether internal communications show executives at the banks had private doubts on the soundness of the mortgage-related securities they were putting together. The people told the paper Washington Mutual Inc, which is now mostly owned by JP Morgan Chase & Co (JPM.N), was also issued a subpoena by the...

TOUR Insider: Deutsche Bank Championship  Aug. 27, 2007 By Dave Shedloski PGATOUR.com Senior Correspondent The beauty of the PGA TOUR Playoffs for the FedExCup this week is manifested in South Africa's Retief Goosen. Retief Goosen lost ground despite making the cut at The Barclays last week. (WireImage) While there are still three weeks left to decide the inaugural winner of the FedExCup, there is real urgency at this week's Deutsche Bank Championship for a number of players, including, most notably, the two-time U.S. Open champion. Goosen, 38, is the only TOUR member in the top 20 in the Official World...

NEW YORK (Reuters) - Deutsche Bank is seeking to hold New York State liable for more than $500 million due to property damage done to its building following the Sept. 11 attacks on the World Trade Center. The bank sued the state late on Wednesday in Manhattan federal court, accusing it of negligence for failing to take steps to protect and clean the building after the attacks. Among charges are that the state failed to seal the building leaving it exposed to hazardous materials and that it did not remove tens of thousands of gallons of water that had been...