Deutsche Bank shares slump further as fallout from bad press continues

Investors complain shares are worth less than a pack of cigarettes following 40% slump in 10 months

Deutsche Bank shares slid to fresh lows as its boss announced "tough cutbacks" for the investment bank following a fraught year of money laundering allegations, failed merger talks, and lawsuits by Donald Trump.

At a marathon annual shareholders meeting in Frankfurt, still going on after eight hours, chief executive Christian Sewing said the bank would push ahead with a further a1bn (880m) in cost cuts this year, following similar moves in 2018 that led to 6,000 job losses.