Deutsche Bank AG is planning to cut more than 10 percent of U.S. jobs as it withdraws from businesses where it can’t compete, a person briefed on the matter said. It’s the first concrete indication of how far Germany’s largest lender is planning to retreat from its past ambition to be a global investment bank, a goal it has pursued for some 20 years. The U.S. counts about 10,300 employees, or about a tenth of the firm’s global workforce. The bank dismissed 400 U.S.-based staff this week, the person said, asking not to be identified as the details aren’t public. These appear to be initial long-planned cuts first ... (full story)