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Tidjane Thiam quits as Credit Suisse CEO following spying scandal

Tidjane Thiam quits as Credit Suisse CEO following spying scandal

Finance
Credit Suisse CEO Tidjane ThiamFAFabrice Coffrini | AFP | Getty ImagesCredit Suisse CEO Tidjane Thiam is stepping down in the wake of a spying scandal, and will be replaced by Thomas Gottstein who currently heads the bank's Swiss unit.In a statement Friday morning, the board of directors said it had unanimously accepted Thiam's resignation, following the presentation of the Swiss lender's fourth-quarter and full-year results. Chairman Urs Rohner said Thiam has made an "enormous contribution" to the bank since he joined in 2015. He will step down on Feb. 14."Under Tidjane's leadership, Credit Suisse simultaneously repurposed our strategy, restored our capital, reduced our costs, de-risked our business, promoted diversity and engendered an exceptional level of co-operation between various di...
Ukrainian PM Honcharuk submits resignation amid scandal

Ukrainian PM Honcharuk submits resignation amid scandal

World
Jan. 17 (UPI) -- Ukrainian Prime Minister Oleksiy Honcharuk said Friday he has tendered his resignation following the leak of a recording in which he is heard allegedly making disparaging comments about President Volodymyr Zelensky. Honcharuk, 35, announced he had submitted his resignation to Zelensky in a Facebook post, stating the president is "a model of transparency and decency." Notice of his resignation follows a recording leaked online Wednesday night, purportedly of a mid-December cabinet meeting. In the recording, Honcharuk is heard allegedly insulting Zelensky, stating he has a "very primitive understanding about the economy," Kyiv Post reported. On Friday, Honcharuk said he was resigning to prove his confidence in Zelensky's leadership. "In order to take away any doubt of res...
‘Hundreds more cases’ in Shropshire maternity scandal

‘Hundreds more cases’ in Shropshire maternity scandal

Health
More than 200 new families have contacted an inquiry into mother and baby deaths at a hospital trust in Shropshire.Investigators were already looking at more than 600 cases where newborns and mothers died or were left injured while in the care of the Shrewsbury and Telford Hospital Trust. One expert says the scandal, spanning decades, may be the tip of the iceberg.Dr Bill Kirkup says it suggests failure might be more widespread in the NHS.Maternity failingsThe surge in new cases follows the leak of an interim report last week. The leaked report, compiled by the maternity expert Donna Ockenden for NHS Improvement, outlined a catalogue of maternity failings from 1979 to the present day that led to avoidable deaths of mothers and ba...
Spying scandal forces out Credit Suisse executive

Spying scandal forces out Credit Suisse executive

Business
Credit Suisse's chief operating officer has resigned after a probe found he initiated surveillance of an executive who left to join rival UBS.Private detectives were hired to track the Swiss bank's former head of wealth management, Iqbal Khan in September, in a scandal that has rocked the normally staid world of Swiss banking.Mr Khan left the bank in July.There was no indication chief executive Tidjane Thiam, who had fallen out with Mr Khan, knew about the surveillance.Mr Khan had initially been praised and promoted by Mr Thiam.But there were reports that a personal animosity had developed, which intensified after Mr Khan bought and spent two years redeveloping a property near Lake Zurich which neighboured a property belonging to his boss.Media reports su...
Facebook ‘to be fined $5bn over Cambridge Analytica scandal’

Facebook ‘to be fined $5bn over Cambridge Analytica scandal’

World
Media playback is unsupported on your device US regulators have approved a record $ 5bn (£4bn) fine on Facebook to settle an investigation into data privacy violations, reports in US media say. The Federal Trade Commission (FTC) has been investigating allegations that political consultancy Cambridge Analytica improperly obtained the data of up to 87 million Facebook users.The settlement was approved by the FTC in a 3-2 vote, sources told US media.Facebook and the FTC told the BBC they had no comment on the reports.How was the settlement reached?The consumer protection agency the FTC began investigating Facebook in March 2018 following reports that Cambridge Analytica had accessed the data of tens of millions of its users. The investigation foc