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Deutsche Bank acknowledged on Wednesday that it may be forced to push its restructuring faster, as it booked a 98-percent fall in profits in the second quarter. "If the current weak economic environment persists, we will need to be yet more ambitious in the timing and intensity of our restructuring," chief executive John Cryan said in a statement released with the results. Cryan is battling to convince markets and regulators that Deutsche is on course for recovery after it was described as a "major systemic risk" by the International Monetary Fund in June.
BIG SUR, Calif. (AP) — A wildfire was fouling the summer season on a beloved and scenic stretch of the California coast, where smoke and the threat of flames forced the closure of state parks near Big Sur.