Wall Street is killing European investment banks [CNN]
Bank of America Corporation (BAC)
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Source: CNN
Wall Street is killing the European investment bank Barclays ( BCS ) , Credit Suisse ( CS ) and UBS ( UBS ) reported another round of lackluster investment banking results this week. And Deutsche Bank ( DB ) disclosed Thursday that first quarter revenue from its corporate and investment bank dropped 13% to €3.3 billion ($3.7 billion). The weak earnings are likely to increase pressure on European banks that have struggled to cut costs and overhaul unproductive businesses following the global financial crisis. Many are now facing big questions over whether they can compete with Wall Street. Deutsche Bank, which has already moved away from some investment banking activities, is back to square one with its future planning after merger talks with German rival Commerzbank ( CRZBF ) collapsed. At British lender Barclays, an activist investor is pushing for its investment bank to be pared back. Analysts warn that more dramatic changes may soon be required. "There are no ea
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