Business this week

Deutsche Bank’s battered share price rose, amid reports that it was negotiating a much smaller settlement with the US Department of Justice than the $14 billion it had been asked to pay for claims related to mortgage-backed securities. The German government reiterated that it had no plans to rescue the bank. Concerns about the health of the wider European banking industry were underscored by an announcement from ING, a Dutch bank, that it is shedding up to 7,000 jobs, a decision it in part blamed on ultra-low interest rates. Commerzbank, Germany’s second-biggest bank, announced 9,600 job losses.