Shares in Deutsche Bank were down sharply after a report that the German government won’t intervene with U.S. officials who are pressing the bank to pay US$14 billion to settle an investigation into its sales of mortgage-backed securities. The bank’s shares closed down 7.5% at 10.55 Euros on Monday after the Friday report from Focus magazine.
The German government approved this week a controversial bill that would require Internet search engine companies such as Google to pay fees to the German media for displaying news headlines on their websites.