Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Deutsche Bank, the German multinational investment bank and financial services company based in Frankfurt, revealed its decision to cut ties with Donald Trump. The firm stated that it will immediately stop doing business with the outgoing president of America.
With its announcement, Deutsche Bank just joined the list of major companies that are detaching themselves from Donald Trump. The decision came after the POTUS allegedly incited the riot at the US Capitol earlier this month.
Deutsche Bank and Trump’s business over the years
It was revealed that the German bank has been supporting Trump and his businesses for about two decades already. However, with the latest events concerning the president, his disgraceful moves in the weeks following November 2020, the firm is no longer willing to do business with him.
Deutsche Bank will stop associating itself with Trump, so there will be no more future business between them, a source told CNN Business. It was suggested that the deadly US Capitol insurgence was the main reason for the severed ties.
This is a big blow to the 45th president of America because he will be losing a major source of loans for his organization. Deutsche Bank was revealed to have helped him fund his Mar-a-Lago resort and other hotels and golf courses.
Furthermore, CNBC confirmed that Germany’s largest bank has been Donald Trump’s major lender for his businesses, so losing its support is definitely one huge setback. Currently, it was revealed that the Trump Organization that is being managed by Donald Trump Jr. and Eric Trump still has an unpaid loan amounting to $340 million.
Trump went through a series of bankruptcies in the 1990s, and Deutsche Bank acted as his life-saver as it was the only bank that agreed to lend money. Now Deutsche is one of the multiple firms that are moving away from Donald Trump and his businesses.
Major companies that dropped Trump
As mentioned, big corporations and associations are ditching the outgoing president after the deadly riot last week. Twitter permanently banned Donald Trump while Facebook and Snapchat have suspended his accounts.
As per Yahoo Finance, the Marriott Hotel, Shopify, Stripe, Salesforce, Professional Golf Association, and more are distancing themselves from the POTUS. The list is expected to get longer once he steps down and continues to claim that votes were stolen from him.
