Posts From King World News

Volkswagen Chairman Piech resigns amid leadership crisis

Volkswagen’s (VOWG_p.DE) supervisory board Chairman Ferdinand Piech unexpectedly resigned on Saturday in the wake of a leadership crisis he kicked off earlier this month by saying he had “distanced” himself from Chief Executive Martin Winterkorn. Volkswagen said in a statement that Piech had resigned from his position as Chairman as well as member of the supervisory board and any other mandates within the Volkswagen group with immediate effect. Deputy Chairman

Deutsche faces tough task paring back retail, investment banking

Deutsche Bank (DBKGn.DE) faces a long and costly battle, analysts say, to sell Postbank (DPBGn.DE) and pare investment banking, the new strategic goals it outlined late on Friday. Deutsche will face an especially difficult challenge in selling off Postbank without having to post losses. “We’re worried about jobs at Postbank,” Carsten Schneider, finance expert and deputy SPD parliamentary floor leader, told Reuters. Postbank could fetch close to 3.6 billion euros