Deutsche Bank to Shrink Workforce by 35,000 in Broad Revamp
Bank reports steep loss for third quarter
By JENNY STRASBURG and MADELEINE NISSEN
FRANKFURT— Deutsche Bank AG on Thursday said it would eliminate thousands of jobs and shut operations in several countries, the latest European bank taking sweeping action to arrest declining profits.
The biggest lender in Europe’s most powerful economy will cut 35,000 jobs from its payroll and make a raft of other changes to fix a bank its new co-Chief Executive John Cryan described as saddled with broken technology and “poor historic behavior.”
Read more » THE WALL STREET JOURNAL
See more » http://www.wsj.com/articles/deutsche-bank-posts-6-6-billion-loss-1446104427
Pentagon’s Chuck Hagel plans to downsize US military
Defence Secretary Chuck Hagel has unveiled plans to shrink the US Army to its smallest size since before the US entered World War Two.
Outlining his budget plan, the Pentagon chief proposed trimming the active-duty Army to 440,000-450,000 personnel, down from 520,000 currently.
Cold War-era Air Force fleets – the U-2 spy plane and the A-10 attack jet – will also be retired.
The US defence budget remains higher than during most of the Cold War.
‘Difficult decisions ahead’
On Monday, Mr Hagel noted the US military had come under pressure to downsize after two costly foreign wars. “This is a time for reality,” he said
Read more » BBC
by Irfan Husain
DIAGNOSING the mental health of a nation is just as tricky as diagnosing an individual with a personality disorder.
…. So much for the diagnosis. What`s the cure? The hallmark of an educated mind is the ability to analyse problems coolly and rationally. An emotional response is usually the wrong one. But our minds are conditioned by years of slogans and clichés, as well as historical baggage that is no longer relevant. The disconnect between reality and our twisted perceptions grows by the day. …
… So let`s open our eyes to reality and face the world as it really is, and not how our tortured dreams have made it out to be.
Read more : DAWN
Nationalism of one kind or another was the cause of most of the genocide of the twentieth century. Flags are bits of colored cloth that governments use first to shrink-wrap people’s brains and then as ceremonial shrouds to bury the dead. When independent- thinking people (and here I do not include the corporate media) begin to rally under flags, when writers, painters, musicians, film makers suspend their judgment and blindly yoke their art to the service of the Nation, it’s time for all of us to sit up and worry. …
Read more : topdocumentaryfilms