“Deutsche Bank’s Path Back to Profitability

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    In addition to these fines, Deutsche Bank has also been involved in a number of other scandals, including:

• The Panama Papers scandal, which revealed that the bank had helped clients set up offshore accounts to avoid taxes.
• The Cum-Ex scandal, which involved a series of trades that allowed investors to claim multiple tax refunds on the same dividend.
• The Danske Bank money laundering scandal, in which Deutsche Bank was a correspondent bank for Danske Bank, which is alleged to have laundered billions of dollars of Russian money.

These scandals have had a significant impact on Deutsche Bank's profitability. In 2019, the bank reported a net loss of €5.7 billion. The bank has also been forced to cut back on its investment banking activities and to reduce its workforce. In an effort to turn around its fortunes, Deutsche Bank has implemented a number of changes. The bank has hired a new CEO, Christian Sewing, who has pledged to clean up the bank's culture and to focus on compliance. The bank has also sold off a number of assets and has reduced its exposure to risky investments. It remains to be seen whether Deutsche Bank will be able to successfully return to profitability. However, the bank's efforts to improve its compliance and to reduce its risk profile are a positive step in the right direction. Starbucks: A Socially Responsible Firm and a Diversity Crisis Starbucks is a global coffee company that has been praised for its commitment to social responsibility. The company has a number of initiatives in place to support its employees, its suppliers, and the communities in which it operates. For example, Starbucks offers its employees health insurance, tuition reimbursement, and stock options. The company also has a number of programs in place to support diversity and inclusion, such as its "Opportunity Youth" program, which provides training and employment opportunities to young people from disadvantaged backgrounds. In addition, Starbucks is committed to sourcing its coffee beans ethically. The company works with farmers in developing countries to ensure that they are paid fair prices for their beans. Starbucks also invests in programs to help farmers improve their yields and to protect the environment. However, Starbucks has also been criticized for its lack of diversity in its leadership ranks. In 2018, the company's board of directors was 75% white and 75% male. In response to criticism, Starbucks has pledged to increase the diversity of its board and its leadership team. In 2020, Starbucks was also the target of a boycott after two black men were arrested in a Philadelphia Starbucks store while waiting for a friend. The incident sparked outrage and led to calls for the company to do more to address racial bias. Starbucks has responded to the criticism by launching a number of initiatives to promote diversity and inclusion. The company has also made a commitment to unconscious bias training for all of its employees. It remains to be seen whether Starbucks will be able to successfully address its diversity crisis. However, the company's commitment to social responsibility is a positive step in the right direction.  

Sample Answer

   

Deutsche Bank’s Path Back to Profitability: From Corruption to Compliance

Deutsche Bank, once one of the world's largest and most prestigious banks, has been plagued by a series of scandals in recent years. These scandals have led to billions of dollars in fines and settlements, and have damaged the bank's reputation.

In 2015, Deutsche Bank was fined $5.5 billion by the U.S. Department of Justice for its role in a global money laundering scheme. The bank was also fined $2.5 billion by the U.K. Financial Conduct Authority for its role in the Libor interest rate rigging scandal.