Volkswagen shares plunged more than 20% on Monday, their biggest ever one-day fall, after news the German carmaker had rigged U.S. emissions tests, and Germany said it would investigate whether data had been falsified in Europe too.
Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday.
After Greece became the first developed nation to miss a payment to the International Monetary Fund, it seems that after 24 hours of economic collapse Greece now says it is now ready to accept the bailout conditions it previously rejected. Though it may be too late as the total recklessness and arrogance of Greek Prime Minister Alexis Tsipras has caused damage and pain to the people of Greece that easily could be avoided.
Prime Minister Alexis Tsipras has told international creditors Greece could accept their bailout offer if some conditions were changed, but Germany said it could not negotiate while Greece was headed for a referendum on the aid-for-reforms deal.