Commerzbank is cutting 900 jobs in its investment banking and back office operations after posting third quarter losses of €208m ($258m).

Klaus-Peter Mueller, chief executive of Commerzbank said a restructuring charge of €132m for Commerzbank securities, its investment banking arm, pushed the securities operation into the red for the third quarter ending September 30.

David Rothnie

Jason Corcoran

Commerzbank

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The hedge-fund founder is asking triple what he paid for the Bali-inspired Manalapan estate in 2017.

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The announcement comes as USS Investment Management said it won’t bid for the property firm.

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The U.S. private-equity firm said t decided not to begin a tender offer for the Japanese software company after consulting with Fuji Soft founder Hiroshi Nozawa.

Successful firms are increasingly split between behemoths with several business lines and those focusing on their roots of buying companies.

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The Chinese technology giant has begun tests to integrate homegrown startup DeepSeek’s AI model into its Weixin messaging app.

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Commerzbank culls 900 as losses grow

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