Deutsche Bank to cut business ties with Trump and his company as the Capitol riot fallout escalates

Deutsche Bank AG and Signature Bank, two of Donald Trump’s favored lenders, are pulling away from the billionaire president in the wake of last week’s deadly riot at the U.S. Capitol.

The German lender has decided not to conduct any further business with Trump and his company, said two people with knowledge of the matter, asking not to be identified because the deliberations were confidential. Trump owes the Frankfurt-based lender more than $300 million.

Signature Bank, the New York lender that’s long catered to his family, is closing two personal accounts in which Trump held about $5.3 million, a spokesperson for the firm said on Monday. It’s also calling for the president to step aside before his term officially ends on Jan. 20.

“We believe the appropriate action would be the resignation of the president of the United States, which is in the best interests of our nation and the American … Read More

GM to launch BrightDrop electric delivery vehicle business By Reuters

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© Reuters. Mary Teresa Barra , Chairwoman and CEO of General Motors Company attends the unveiling its redesigned mid-engine C8 Corvette, the 2020 Chevrolet Corvette Stingray, in Tustin, California

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By Ben Klayman and Paul Lienert

DETROIT (Reuters) – General Motors Co (NYSE:) staked its claim in the growing electric delivery vehicle business on Tuesday, with Chief Executive Mary Barra outlining plans for its first BrightDrop commercial vans to be delivered to FedEx (NYSE:) by year-end.

The move will put GM squarely in competition in the commercial sector with crosstown rival Ford Motor (NYSE:) Co as well as startups such as Rivian, Arrival and Canoo that are developing electric commercial vehicles for customers from Amazon (NASDAQ:) to Hyundai Motor.

Fueled in part by the COVID-19 pandemic, GM estimates the U.S. market for parcel and food delivery will climb to more than $850 billion by 2025. And it is one

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