Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Australian Household Spending Dips in December as RBA Tightens Policy 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Gold and Silver Prices Climb in Asian Trade as Markets Eye Key U.S. Economic Data 
Australian Pension Funds Boost Currency Hedging as Aussie Dollar Strengthens 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Credit Suisse’s chairman, Antonio Horta-Osorio, has tendered his resignation this week after getting involved in a controversy. The executive was said to have violated COVID-19 quarantine policies and this lead to criticisms.
With the Credit Suisse chair’s resignation, the bank is facing another setback as a new scandal has emerged while the company has yet to recover from the previous controversies. According to Fox Business, Horta-Osorio’s departure comes less than a year after he was hired to help the company deal with the collapsed investment firm Archegos Capital Management.
At the time of his appointment, he is also expected to work on the insolvency of Greensill Capital, a financial services company based in the United Kingdom and Australia. In November of last year, Horta-Osorio unveiled a new strategy to stop a freewheeling culture and to a hold of its investment bankers.
Although his plans appear promising, the Credit Suisse chair’s personal conduct has been put in question. He has come under scrutiny due to reports he defied COVID-19 quarantine rules and it even allegedly happened twice last year. Due to this scandal, Horta-Osorio submitted his resignation saying he regretted a number of his own actions that led to difficulties for the company.
He added that the issues also compromised his ability to represent the bank thus he thinks he needs to leave at this crucial time. Horta-Osorio said his resignation is also “for the interest of the bank and its stakeholders.”
In a press release, Credit Suisse’s vice chairman and lead independent director of the board, Severin Schwan, confirmed the departure of the bank’s chairman and announced who will be replacing him. The company has accepted his resignation and appointed Axel Lehmann to be the new chair.
“We respect António’s decision and owe him considerable thanks for his leadership in defining the new strategy, which we will continue to implement over the coming months and years,” Schwan said. “Axel Lehmann as the new chairman, with his extensive international and Swiss industry experience, is ideally suited to drive forward the strategic and cultural transformation of the bank. We wish Axel every success in his new role and António all the best for the future.”
