HONG KONG—A mansion belonging to embattled China Evergrande Group’s chairman in Hong Kong’s prestigious The Peak residential enclave has been seized by lender China Construction Bank (Asia), records from the Land Registry show. The bank appointed receivers to take over the 5,000 sq ft (465 sq m) mansion on Nov. 1, according to a filing….
Samsung Officially Names Third-Generation Heir Lee Chairman
SEOUL, South Korea—Samsung Electronics has officially appointed third-generation heir Lee Jae-yong as executive chairman, two months after he secured a pardon of his conviction for bribing a former president in a corruption scandal that toppled a previous South Korean government. Lee’s promotion is partially symbolic as he has headed the Samsung group in his capacity…
Suez Canal Expansion Due to Finish in July 2023: SCA Chairman
DUBAI—A project to expand parts of the Suez Canal is expected to be completed after two years of work in July 2023, the chairman of the Suez Canal Authority (SCA) said on Sunday. The SCA announced accelerated plans to extend a second channel of the canal and to enlarge an existing channel after the Ever…
UBS Picks Former Morgan Stanley President Kelleher as Chairman
ZURICH—UBS named former Morgan Stanley President Colm Kelleher on Saturday as its surprise pick to succeed Axel Weber as chairman of the world’s biggest wealth manager when his mandate ends in April. Kelleher, an Irishman from County Cork, retired from his post at Morgan Stanley in 2019 after three decades at the U.S. investment bank,…
Deutsche Bank to Name Dutchman as Next Chair in Changing of Guard
FRANKFURT—Deutsche Bank said on Friday that it would nominate Dutch businessman Alexander Wynaendts as the next chairman of its supervisory board, marking a new era for Germany’s largest lender. The former chief executive of Aegon will succeed Chairman Paul Achleitner, one of Germany’s most prominent bankers. He plans to step down in May after 10…
Credit Suisse Board Backs CEO, Chairman Tells SonntagsBlick
ZURICH—Credit Suisse’s board of directors is convinced Chief Executive Thomas Gottstein is the right person to strategically realign the bank by curbing risk appetite, the Swiss bank’s chairman said in a newspaper interview published on Sunday. Asked whether he was planning to replace Gottstein as CEO or take over the operational lead of the bank…
Evergrande Chairman Gives Pep Talk Despite Global Fears Over Default
The chairman of Evergrande Group showcased his faith in the company to get out of its “darkest moment” as soon as possible. The company will fulfill its promise to deliver under-construction projects to home buyers, Chairman Hui Ka Yan said in a letter to employees on the day of China’s Mid-Autumn festival. Evergrande announced on…
Microsoft Names CEO Satya Nadella as Chairman
Microsoft on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson. Nadella, who took over as CEO in 2014 from Steve Ballmer, has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications, and ZeniMax. The company said Thompson, who took over as chairman…
US News
- City News ServiceSAN DIEGO—A 29-year-old one-time X Games BMX star was killed in a motorcycle accident at a Ramona motocross park, authorities reported June 7. Pat Casey of Riverside was fatally injured… [...]
- Sophie Li“If [lawmakers] change how they are dealing with these issues, they’ll have to admit that they were wrong,” said former Republican California State Sen. Melissa Melendez regarding why she thinks… [...]
- City News ServiceSAN DIEGO—A 70-year-old man who pleaded guilty to fatally stabbing a National City convenience store clerk almost 50 years ago was sentenced June 7 to five years to life in… [...]
- Janice HisleIf a federal indictment of former President Donald Trump was imminent during the afternoon of June 7, he denied being informed about it. Throughout the day, numerous news reports were… [...]
- City News ServiceLOS ANGELES—A man convicted of fatally shooting a research scientist as he slept inside a tent with his two young daughters in Malibu Creek State Park in what the judge… [...]
- Elizabeth DowellResearchers have discovered that ancient rising lakes may trigger California earthquakes along the San Andres fault line. The new study, published Wednesday in Nature, investigated earthquake activity along the southern… [...]
- Joseph LordA bipartisan group of lawmakers has announced the formation of a task force to combat China’s growing influence in the Indo-Pacific. During a press conference at the House Triangle in… [...]
- Carol CassisDisneyland Resort in Anaheim, California, has announced the renovation of its Paradise Pier Hotel into a Pixar-themed location will be finished by the end of the year. Complete with a… [...]
- Ryan MorganSeveral Republican senators are urging the Department of Defense’s Inspector General to investigate their claims that a DOD official leaked classified information to shield President Joe Biden from criticism for… [...]
- Roman BalmakovThe Centers for Disease Control and Prevention (CDC) has just released a new report detailing a massive viral outbreak on a cruise ship that was traveling from the United States to… [...]