Deutsche Bank has come under renewed pressure from investors to dump or drastically shrink its US investment bank as the German lender struggles with a litany of problems that have dragged its share price down to record lows.

The German bank, which was downgraded by Standard & Poor’s last week, has unveiled plans to slash more than 7,000 jobs as part of a shake-up of the company that followed the appointment of Christian Sewing as its new chief executive in April.

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