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Money Talks from The Economist

Money talks: Banking bad

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 18 June 2019

⏱️ 18 minutes

🧾️ Download transcript

Summary

Deutsche Bank plans to create a new division, a “bad bank”, which will hold tens of billions of euros of assets as part of an overhaul of it is operations. Will the remaining firm become profitable enough to satisfy regulators and investors? And the growing concern in China over balancing the books at a local level. Also, our correspondent takes a trip to Citeco — France’s museum of economics. Patrick Foulis hosts

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Transcript

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0:00.0

Are you receiving tax credits?

0:02.0

If so, this message is for you.

0:04.5

Tax credits are coming to an end,

0:06.3

and most people will be asked to apply for universal credits instead.

0:10.0

The Department for Work and Pensions is writing to Tax Credit claimants.

0:14.0

You won't be moved automatically, so look out for your letter explaining what you'll need to do and by when.

0:19.0

And there's also lots of support to help you make the move.

0:22.0

Get ready for your Universal Credit Switchover.

0:25.2

Search Understanding Universal Credit today.

0:28.2

Eligibility criteria apply. Hello, I'm Patrick Fowles, the Business Affairs Editor of The Economist, and you're listening to Money Talks

0:44.8

on Economist Radio.

0:47.0

Coming up on today's show, China's economic woes mount up.

0:55.0

It doesn't mean that China is at a crisis point,

0:58.0

but it does mean that it faces a big headache.

1:02.0

And a new museum opening in France that is dedicated to economics.

1:07.0

I mean, ultimately what the exhibit makes you realize is that there's just so much economics.

1:12.0

There's so much to cover. You know you have to give them credit.

1:14.4

They really have tried to give a new division they are labelling a bad bank to hold tens of billions of euros of dodgy assets. It's part of a serious

1:36.1

overhaul of its operations by its chief executive Christian saving who is trying to

1:41.5

move the bank's focus away from trading.

1:44.8

This could mean Germany's biggest lender will significantly shrink some of its American operations

1:49.8

too.

...

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