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Global Markets: Deutsche Bank shutters 100 locations

By MarketsFarm

WINNIPEG, Sept. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Deutsche Bank will close about 100 of its German locations, or one in five, in order to save on operating costs. The move is also in reaction to the “changing habits of customers during the coronavirus pandemic,” according to a statement from one executive.

Libya’s oil industry has re-started after plummeting to less than 100,000 barrels per day in January due to civil war. The country is home to Africa’s largest oil reserves and produced up to 1.2 million barrels per day before the shutdown. The OPEC member state is expected to produce up to 550,00 barrels per day again by the end of 2020.

The Canadian Mortgage Housing Corporation (CMHC) found “moderate” evidence of overvaluation in the housing market in spring of 2020, according to the latest Housing Market Assessment report. The report, released on Monday, details “real estate imbalances” in Canada, or cases where the real estate market tips in favour of the buyer or seller.

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