Highlight of the Week
Deutsche Bank to cut 18,000 jobs by 2022
- Bank expects to report net loss of $3.14b in 2Q, will cut 1 in 5 employees
- Pullback in Investment Banking while structuring over 20% of assets into a bad bank
- Chief of Investment Banking operation to step down amid Executive-level restructuring
Rate Curves
Rapid Report:
Markets continue to expect July rate cut
- Though some analysts question the move, given recent strong numbers like the June jobs report
WeWork selling up to $4B in debt before IPO
- Coworking office space management company seeks to shore up confidence troubles that plagued Uber and Lyft’s IPOs
- Despite losing $1.9b last year, Goldman Sachs and JPMorgan Chase have agreed to structure the IPO and the company as an approximate blended valuation of $36b
Cameras are the new cashiers?
- While Amazon gets credit for initiating the concept, other supermarket chains like Tesco are experimenting with cashier-less operations
- Cameras would track customers choosing items throughout the store, and they could be charged by simply walking out the door
World Cup Champs
- USWNT defeated The Netherlands 2-0 to claim the 2019 FIFA World Cup
