The Deutch bank announced on Tuesday it would close about 500 branches across the country. Since 2019 Deutsche has been in the midst of a restructuring that involves a partial retreat from investment banking activities, a radical shrinking of its balance sheet and 18,000 job cuts by 2022. In the early phase of the virus crisis, Deutsche temporarily halted lay-offs. The new round of branch closures will entail an unspecified number of job cuts. Deutsche is seeking to finish the negotiations with the workers’ council by the end of this year so the cuts can be made in 2021, according to a person familiar with the plans. Covid-19 has prompted more card and online transactions in traditionally cash-loving Germany, partly because of a desire to avoid touching notes and coins.
Oslo, Norway (By Ahmed Tanveer): The Norwegian Prime Minister Erna Solberg urges that everyone must comply with the infection control rules in order not to have another shut. Now five new countries are turning red, and travel to even green countries is discouraged. In recent weeks, the infection has increased again. Everyone must contribute to the hard work. Now we are at a tipping point, says Prime Minister Erna Solberg. The Prime Minister emphasizes that they had calculated for a possible increase in infections when Norway was gradually opened before the summer. Therefore, it is crucial to follow the infection control rules, Solberg emphasizes. Five new red countries, no travel at all Iceland, Cyprus, Malta, the Netherlands and Poland become no go zone. The rules for the Faroe Islands and some regions in Sweden and Denmark will also change. The six regions in Sweden are Östergötland, Örebro, Blekinge, Värmland, Uppsala and Dalarna. Solberg says that they no longer categorize the countries as green and red countries, but yellow and red countries. As the situation is now worse, we advise against all travel abroad, and extend the Ministry of Foreign Affairs’ global travel advice until 1 October. Right now it is best to stay at home in Norway. No country is green.
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