Deutsche Bank has been trying tries to repair its tattered reputation after three years of losses and a drumbeat of scandals. Christian Sewing checked was appointed as CEO in April to help the bank to rebuild. Now it is facing new money-laundering allegations linked to the "Panama Papers". Picture: Bloomberg/Andreas Arnold
Deutsche Bank has been trying tries to repair its tattered reputation after three years of losses and a drumbeat of scandals. Christian Sewing checked was appointed as CEO in April to help the bank to rebuild. Now it is facing new money-laundering allegations linked to the "Panama Papers". Picture: Bloomberg/Andreas Arnold

Police raided six Deutsche Bank offices in and around Frankfurt last week over money-laundering allegations linked to the Panama Papers, the public prosecutor’s office said. Investigators are looking into the activities of two unnamed Deutsche Bank employees alleged to have helped clients set up offshore firms to launder money.

"Of course we will co-operate closely with the public prosecutor’s office in Frankfurt, as it is in our interest as well to clarify the facts," Deutsche Bank said.

Fiat Chrysler plans Italy-based investment

Fiat Chrysler pledged last week to spend more than €5bn on new models and engines in Italy between 2019 and 2021. The intention is to fill underutilised plants, conserve jobs and boost margins in Europe; 13 new models or restylings of existing models will be launched. A big part of the investments will be focused on the development of electric and hybrid engines.

Reuters