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EU Ministers Push for Action on Migrant Crisis

Germany, France and the U.K. pushed for a faster response in dealing with a migration crisis, as Hungarian police detained a fifth person in connection with the deaths of 71 migrants found in a truck in Austria.

Striking Workers Block French Port

The labor dispute is preventing travelers from boarding ferries on both sides of the English Channel.

Meet the Private Watchdogs Policing Finance

The use of outside monitors to police financial institutions that have misbehaved has exploded in recent years, sometimes generating friction.

Fed Appears to Hold Line on Rate Plan

Federal Reserve officials emerged from a week of head-spinning financial turbulence largely sticking to their plan to raise U.S. interest rates before the end of the year.

Crises Put First Dents in Xi Jinping’s Power

Before a planned visit to the U.S., the Chinese president’s image as a bold leader is being undermined by his botched handling of the stock market rout and the country’s economic slowdown.

VW Is Told to Shed Suzuki Stake

An international court has ordered Volkswagen of Germany to sell its nearly 20% stake in Suzuki, allowing the Japanese auto maker to extricate itself from the tie-up after a four-year struggle.

Eni Reports Huge Natural-Gas Discovery off Egypt

Eni SpA said it made a massive natural-gas discovery off the coast of Egypt in what the Italian oil-and-gas company is calling the largest ever find in the Mediterranean Sea.

U.A.E. Takes Lead in Southern Yemen

U.A.E. forces prevented Houthi rebels in Yemen from overrunning the Yemeni port city of Aden and now also reluctantly find themselves in the business of nation-building.

At Least 11 Die in Saudi Arabia Fire

A large fire at a residential compound of Saudi Arabia’s state-owned oil giant killed at least 11 people and injured more than 200, officials said. The cause of the fire was unknown.

Modi Changes Course on Land Acquisition

Indian Prime Minister Narendra Modi said he would not renew a contentious executive order aimed at making it easier for the state to acquire land for infrastructure and industry.

Climate Change Builds as 2016 Issue

President Barack Obama’s trip to Alaska’s Arctic on Monday will likely reverberate much farther south, on the 2016 presidential campaign trail, where global warming is expected to emerge as a key issue. 232

Egypt Rejects Criticism of Journalists’ Jail Sentences

Egypt’s foreign ministry rejected international criticism of a court’s decision to sentence a team of Al Jazeera journalists to three years in prison, summoning the British ambassador to Egypt for condemning the verdict.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

The Only Bank This Hip-Hop Mogul Will Use

Low-profile Signature Bank has become one of the nation’s fastest-growing lenders, attracting a fan base ranging from hip-hop mogul Irv “Gotti” Lorenzo to former Congressman Barney Frank

Asian Markets Wrap Up a Rough Month

Asian stock markets are set to finish August with their worst monthly performance in more than three years.

BNY Mellon’s Pricing Problems Persist

Executives at Bank of New York Mellon Corp. are racing against the clock to make it through a backlog of pricing issues before the markets open Monday morning.

Lawyer’s Offstage Acts Threaten Record Pact

When federal agents showed up at Keila Ravelo’s home three days before Christmas, they kicked off a chain of events that could send her to prison and scuttle the biggest antitrust settlement in U.S. history.

Suppliers Feel Pain as Coal Miners Struggle

As big coal miners struggle, their equipment suppliers—thousands of businesses sprinkled throughout Pennsylvania, West Virginia, Ohio and Kentucky—are scrambling to find new customers anywhere they can. 83

In Japan, Foreigners Fill Workforce Gaps

Non-Japanese are taking a bigger role in powering Japan’s economy, as a labor shortage impels the nation to overcome its longstanding resistance to foreign workers.

China Slowdown to Hit Asia Electronics Supply Chain

After several years of torrid expansion, the slowdown in smartphone sales in China is expected to hit Asian parts suppliers.

Ageas to Sell Hong Kong Life Insurance Business

Belgian insurance company Ageas said Sunday it will sell its Hong Kong Life insurance business to Chinese asset-management firm JD Capital for €1.23 billion.

Technology

Apple’s Ad Blockers Rile Publishers

Apple’s move to make it easier to block ads on iPhones and iPads is troubling publishers and heightening tensions with its Silicon Valley neighbors like Google.

Arts

IMAGE 1 of 12

Video Music Awards 2015

Kanye West gave a long rant at the MTV Video Music Awards as he apologized to Taylor Swift for taking her microphone in 2009. Swift presented West with the Michael Jackson Video Vanguard Award. Earlier, she and Nicki Minaj buried their beef by joining forces onstage.

Oliver Sacks Dies at 82

Dr. Oliver Sacks, the author and neurologist who explored links between the brain and human experience in books like “Awakenings,” has died. He was 82.

Video

Body Count Rises in Migrant Effort to Reach Europe

1:38

Lebanese ‘Stink’ Protest Turns Toward Politicians

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Buzz Aldrin Developing Plan to Colonize Mars

1:09

Urban Gardner

My Ping-Pong Paddling by Tennis Star Rafael Nadal

Columnist Ralph Gardner Jr. takes on tennis champion Rafael Nadal in ping pong. It was probably a good thing that they didn’t keep score.

Music

Foals’ ‘What Went Down’ Is a Visceral Confessional

Yannis Philippakis, the lead singer whose energetic stage presence and novelistic lyrics have made Foals one of British rock’s most compelling propositions, talks about the band’s fourth album.

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Ein Anflug von Kulturwandel

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Stecken die Köpfe zusammen: Jürgen Fitschen uand Anshu Jain, die beiden Chefs der Deutschen Bank.

Drei rechts, drei links und in der Mitte das Führungsduo – das ist die neue Sitzverteilung bei der Jahrespressekonferenz der Deutschen Bank. Vorbei sind die Zeiten, als Josef Ackermann alle Blicke auf sich zog und das Rampenlicht alleine genoss, während der restliche Vorstand kaum zu Wort kam. Jetzt wird geteilt.

Nach einem Lächeln für die Fotogalerie geht es selbstkritisch los, denn die jüngsten Zahlen der Bank laden nicht gerade zum Strahlen ein. Zudem will man ja den Kulturwandel verkaufen. Also ist alles eine Spur gedämpfter als beim Vorgänger, dessen Erbe noch immer spürbar ist – besonders bei den Problemen, die das Duo zu bewältigen hat.

Und so merkt man den beiden Chefs Jürgen Fitschen und Anshu Jain die Anspannung an, als sie sich durch ihre Reden arbeiten – mit ernster Miene, hoch konzentriert. Fitschen hat seine Brille auf die Mitte seiner Nase gerückt und schaut ab und zu über den oberen Brillenrand in die Runde. „Ein kultureller Wandel ist zwingend erforderlich“, erklärt er mit fester Stimme. Jain mit dem Übersetzungsknopf im Ohr nickt zustimmend.

Ebenso genau werden die Fragen der Journalisten abgearbeitet – wenn auch einige unbeantwortet bleiben. Trotzdem: Das Management übt sich in neuer Offenheit. Beobachter erleben das Führungsduo in Aktion. Regelmäßig stecken beide die Köpfe zusammen – begleitet vom Blitzlichtgewitter der Fotografen.

Zumeist ist es Jain, der die Fragen an den Vorstand verteilt – nach Rücksprache mit Fitschen. Die nonverbale Botschaft ist klar. Hier agiert ein Team, das den beiden Hauptdirigenten folgt. Nur einmal kommt es zu einem kleinen Patzer. Da ist Finanzvorstand Stefan Krause so in seinem Element, dass er direkt auf eine Frage antworten möchte. Er schaltet sein Mikro ein, setzt an, um dann etwas verschämt nachzuhaken, ob er denn wirklich antworten solle.

Mit dieser Episode ist das Eis gebrochen, denn Fitschen und Jain lächeln Krause aufmunternd zu. Zudem ist das Ende der Veranstaltung absehbar, und die Vorstände werden sichtlich lockerer.

Ackermann hätte die Jahresshow sicherlich ganz anders geschmissen. Natürlich mit dem nötigen Quäntchen Reue, dafür dass im vierten Quartal unterm Strich Verluste von fast 2,2 Milliarden Euro stehen. Aber er hätte der Veranstaltung trotzdem den gewissen Glamour verliehen mit seinem Strahlemann-Lächeln.

Fitschen und Jain sind da anders: Sie wirken unprätentiös, fast lässig. Sie wollen nicht strahlen, sondern vermitteln, dass der Grundstein für einen kulturellen Wandel bei der Deutschen Bank endlich gelegt ist. Noch mag ihnen das keiner abnehmen, denn die Schlagzeilen der vergangenen Wochen zeichnen ein anderes Bild.

Zumindest an die Adresse ihrer Mitarbeiter geht ein eindeutiges Signal: Entweder Ihr identifiziert Euch mit unserem Kulturwandel, oder Ihr könnt gehen. Bis diese Botschaft bei einer Bank mit knapp 100.000 Mitarbeitern wirklich angekommen ist, wird es bestimmt noch eine Weile dauern. Aber die Konzernspitze versichert, sie sei bereit, „den unbequemen Weg der Veränderungen weiter zu gehen“.

Fitschen und Jain müssen hoffen, dass Deutschlands größte Bank in den nächsten Monaten von Skandalen und Durchsuchungen weitgehend verschont bleibt, damit ihnen der Wandel auch von außen abgekauft wird. Bislang steht der Kulturwandel wohl noch hauptsächlich auf dem Papier.

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The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video
Search

EU Ministers Push for Action on Migrant Crisis

Germany, France and the U.K. pushed for a faster response in dealing with a migration crisis, as Hungarian police detained a fifth person in connection with the deaths of 71 migrants found in a truck in Austria.

Striking Workers Block French Port

The labor dispute is preventing travelers from boarding ferries on both sides of the English Channel.

Meet the Private Watchdogs Policing Finance

The use of outside monitors to police financial institutions that have misbehaved has exploded in recent years, sometimes generating friction.

Fed Appears to Hold Line on Rate Plan

Federal Reserve officials emerged from a week of head-spinning financial turbulence largely sticking to their plan to raise U.S. interest rates before the end of the year.

Crises Put First Dents in Xi Jinping’s Power

Before a planned visit to the U.S., the Chinese president’s image as a bold leader is being undermined by his botched handling of the stock market rout and the country’s economic slowdown.

VW Is Told to Shed Suzuki Stake

An international court has ordered Volkswagen of Germany to sell its nearly 20% stake in Suzuki, allowing the Japanese auto maker to extricate itself from the tie-up after a four-year struggle.

Eni Reports Huge Natural-Gas Discovery off Egypt

Eni SpA said it made a massive natural-gas discovery off the coast of Egypt in what the Italian oil-and-gas company is calling the largest ever find in the Mediterranean Sea.

U.A.E. Takes Lead in Southern Yemen

U.A.E. forces prevented Houthi rebels in Yemen from overrunning the Yemeni port city of Aden and now also reluctantly find themselves in the business of nation-building.

At Least 11 Die in Saudi Arabia Fire

A large fire at a residential compound of Saudi Arabia’s state-owned oil giant killed at least 11 people and injured more than 200, officials said. The cause of the fire was unknown.

Modi Changes Course on Land Acquisition

Indian Prime Minister Narendra Modi said he would not renew a contentious executive order aimed at making it easier for the state to acquire land for infrastructure and industry.

Climate Change Builds as 2016 Issue

President Barack Obama’s trip to Alaska’s Arctic on Monday will likely reverberate much farther south, on the 2016 presidential campaign trail, where global warming is expected to emerge as a key issue. 232

Egypt Rejects Criticism of Journalists’ Jail Sentences

Egypt’s foreign ministry rejected international criticism of a court’s decision to sentence a team of Al Jazeera journalists to three years in prison, summoning the British ambassador to Egypt for condemning the verdict.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

Hip-hop producer Irv “Gotti” Lorenzo, center, is seen in 2007. He calls himself a Signature Bank customer for life after the bank stood by him when he was facing money-laundering charges.

The Only Bank This Hip-Hop Mogul Will Use

Low-profile Signature Bank has become one of the nation’s fastest-growing lenders, attracting a fan base ranging from hip-hop mogul Irv “Gotti” Lorenzo to former Congressman Barney Frank

Asian Markets Wrap Up a Rough Month

Asian stock markets are set to finish August with their worst monthly performance in more than three years.

BNY Mellon’s Pricing Problems Persist

Executives at Bank of New York Mellon Corp. are racing against the clock to make it through a backlog of pricing issues before the markets open Monday morning.

Lawyer’s Offstage Acts Threaten Record Pact

When federal agents showed up at Keila Ravelo’s home three days before Christmas, they kicked off a chain of events that could send her to prison and scuttle the biggest antitrust settlement in U.S. history.

Suppliers Feel Pain as Coal Miners Struggle

As big coal miners struggle, their equipment suppliers—thousands of businesses sprinkled throughout Pennsylvania, West Virginia, Ohio and Kentucky—are scrambling to find new customers anywhere they can. 83

In Japan, Foreigners Fill Workforce Gaps

Non-Japanese are taking a bigger role in powering Japan’s economy, as a labor shortage impels the nation to overcome its longstanding resistance to foreign workers.

China Slowdown to Hit Asia Electronics Supply Chain

After several years of torrid expansion, the slowdown in smartphone sales in China is expected to hit Asian parts suppliers.

Ageas to Sell Hong Kong Life Insurance Business

Belgian insurance company Ageas said Sunday it will sell its Hong Kong Life insurance business to Chinese asset-management firm JD Capital for €1.23 billion.

Technology

Apple’s Ad Blockers Rile Publishers

Apple’s move to make it easier to block ads on iPhones and iPads is troubling publishers and heightening tensions with its Silicon Valley neighbors like Google.

Arts

IMAGE 1 of 12

Video Music Awards 2015

Kanye West gave a long rant at the MTV Video Music Awards as he apologized to Taylor Swift for taking her microphone in 2009. Swift presented West with the Michael Jackson Video Vanguard Award. Earlier, she and Nicki Minaj buried their beef by joining forces onstage.

Oliver Sacks Dies at 82

Dr. Oliver Sacks, the author and neurologist who explored links between the brain and human experience in books like “Awakenings,” has died. He was 82.

Video

Body Count Rises in Migrant Effort to Reach Europe

1:38

Lebanese ‘Stink’ Protest Turns Toward Politicians

2:11

Buzz Aldrin Developing Plan to Colonize Mars

1:09