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Good morning from the newsroom of the Financial Times.

Today is Monday, August 12th. Good morning from the newsroom of the Financial Times.

Today is Monday, August 12th.

And this is your FT news briefing.

Global investment banks are shedding tens of thousands of jobs

as the outlook on the industry weakens.

Black Rock scoops up a stake in the Celebrity and Clothing Licensing Group that owns rights

to Marilyn Monroe and Elvis Presley.

And British workers could have a hard time traveling to the EU

for day-to-day work if a no-deal Brexit happens.

Plus, accused sex trafficker Jeffrey Epstein was found dead in a New York jail cell over the weekend.

The F.T.'s Kaddam Shubur explains what happens with the case next.

I'm Mark Filipino and here's the news you need to start your day.

It's been a tough summer for high finance.

Global Investment Banks have announced nearly 30,000 layoffs since April.

These cuts come from H.S.B.C. Barclays, Sosete General, Citigroup, and Deutsche Bank, and

are mostly happening in Europe. Deutsche Bank, which announced a radical overhaul last month,

accounts for more than half of the total,

and trading desks are being hit hardest.

The cuts come as bank executives feel the pressure from investors to cut costs and protect

...