Receive Breaking News updates as they occur
By Thomas Atkins and Jonathan Gould FRANKFURT (Reuters) - Deutsche Bank will cut 200 billion euros ($217.5 billion) in investment bank assets and exit a tenth of the countries in which it operates as part of a restructuring program designed to boost earnings and cut risk. After sticking with its costly universal banking model in the aftermath of the financial crisis, Germany's largest bank is under pressure from investors to follow rivals such as UBS and Credit Suisse by culling unprofitable operations. Shares in the German lender dropped by more than 3 percent in early trade, the biggest faller among European banks , as investors doubted whether co-chief executives Anshu Jain and Juergen Fitschen would meet their new targets. "There are 2020 targets and savings/investment plans which we and the market will take with a grain of salt, given their chequered history," said Omar Fall, an analyst with Jefferies International.
By Louis Charbonneau UNITED NATIONS (Reuters) - Iranian Foreign Minister Mohammad Javad Zarif will meet U.S. Secretary of State John Kerry at the opening of a UN conference on the global anti-nuclear weapons treaty on Monday, as they try to make progress in talks on a long-term atomic deal. Iran's top diplomat will be the first state party to the 1970 nuclear Non-Proliferation Treaty to address its 190 signatories at the United Nations headquarters in New York on behalf of 118 non-aligned nations that have signed the NPT, the world's benchmark disarmament pact. Zarif and Kerry will meet on the sidelines to discuss negotiations on a landmark nuclear deal with the United States and five other global powers as they try to secure a final agreement with Iran by a June 30 deadline. In a tentative deal reached on April 2 in Lausanne, Switzerland, between Iran and the six powers, Tehran, which denies seeking nuclear weapons, agreed to curb sensitive nuclear work for at least a decade in exchange for ending sanctions that have crippled its economy.