Deutsche Bank shares surge as lender flags dividends and buybacks

News Snapshot:

Open this photo in gallery: A Deutsche Bank branch in Hong Kong, on July 8, 2019.TYRONE SIU/Reuters Deutsche Bank DB-N on Wednesday promised more share buybacks next year and said it may return more capital to investors than it had previously envisaged, sparking a jump in its shares. The outlook on potential payouts came as Germany’s largest lender posted a better-than-expected 8 per cent drop in third-quarter profit and previewed staff cuts with the CEO saying “we will further reduce” jobs. Revenue from investment banking slumped but grew in the lender’s retail and corporate divisions on higher interest rates. Deutsche...