Global economic woes are not just hitting UK steel workers.
Deutsche Bank, one of the globe's best known names, today announced it will slash 15,000 jobs - around 15% of its total workforce as it battles struggling markets and ever increasing regulatory pressures.
Germany's biggest bank said it would sell businesses and cut 9,000 full-time jobs and 6,000 contractor roles.
As part of the reorganistaion, the lender also revealed a reduction of the number of clients, close investment-banking operations in some countries and exit certain products.
It was one of a number of hot topics in webworld as another trading week comes nearer an end. In fact banking scribes were probably having a field day as titan Barclays (LON:BARC) also put out quaterly results, albeit disappointing ones.
It was one of the top five Footsie laggards as it reported a drop in third quarter profits, coming in at £861mln, down 29% from £1.2bn in the third quarter of 2014. It looks like new man at the helm James Staley, announced yesterday, will have his work cut out for him.
It came as Barclays expects to spend £1bn more than previously expected on restructuring for new regulations, splitting retail banking away from the more risky investment banking.
For investors troubled by the falling share price of Barclays, there was probably some solace in the latest data on UK house prices, which rose by 3.9% this month from a year earlier, according to Nationwide. The cost of an average home was now put at £196,807.
New figures also showed that a typical London house price was now very close to half a million pounds.
Also today, a new report warns that Britain's biggest companies need to hire more women executives.
Lord Davies, in his latest report on the issue, said women ought to make up a third of all boardroom positions at Britain's top 350 firms by 2020.
We haven’t heard that much about Falklands oil exploration for a little while, but it was back with a bang today as Falkland Oil & Gas (LON:FOGL) slumped nearly 40% following a disappoint result in the Humpback exploration well.
The firm said the deep-water Humpback exploration well found oil and gas across a number of reservoir targets, but, they would not be commercial.
Bigger oil stocks were also in focus as Anglo-Dutch oil major Shell (LON:RDSB) dropped 2.35% as it reported a US$6.1bn loss for the third quarter, driven largely by US$4.6bn of write-offs as it halted Arctic exploration in Alaska and the development of oil sands in Alberta, Canada.
Further value was wiped off as Shell adjusted for significantly lower oil prices in the coming years, with the total charges amounting to around US$8bn.