Deutsche Bank AG will pay about 925 million euros ($1.27 billion) to settle a 12-year-old dispute with the heirs of Leo Kirch over the collapse of his media group, according to two people familiar with the matter.
Deutsche Bank AG, Germany’s biggest bank, is close to settling litigation over the collapse of Leo Kirch’s media group for more than 900 million euros ($1.2 billion), according to a person with knowledge of the talks.
Josef Ackermann tried to shake up Zurich Insurance Group AG. Now, allegations that he was partly responsible for the suicide of the chief financial officer are casting a shadow over his 35-year career.
Josef Ackermann will step down from Siemens AG’s supervisory board, two weeks after he resigned as chairman of Zurich Insurance Group AG following his naming in the suicide note of finance chief Pierre Wauthier.
The leader of Europe’s biggest economy and the head of Germany’s largest bank, partners in a financial rescue two years ago, are rattling investors with their feud over how to manage the sovereign-debt crisis.