Eight senior executives at Toshiba, including the chief executive and president Hisao Tanaka, stepped down on Tuesday after they took responsibility for a $1.2 billion (151.8bn yen) accounting scandal. The damning response which removed half of Toshiba’s board came after a team of financial investigators had discovered that the Japanese conglomerate overstated its earnings by more than $1.2 billion over the last seven years.
Chinese employees injured while assembling touchscreens for mobile gadgets, which includes iPhones, have written to Apple requesting it to do more to assist them. Some 137 employees went through adverse wellness effects following contact with a chemical, known as n-hexane.
Two executives at Alibaba, China's biggest e-commerce group have resigned following an increase in fraudulent sales. The company said an inner enquiry had discovered more than 1,000 fraud instances both in 2009 and 2010. The pair, CEO David Wei Zhe and COO Elvis Lee Shi-Huei had been not implicated in the scams but was taking responsibility for a "systemic breakdown".
Philippe El-Asmar, chief of financier solutions at Barclays Plc, will shift to HK to guide the bank’s sales work in the area, according to an individual proverbial with the subject. He will begin his new work in Jan., said an individual, who refused to be recognized because of organization policy. Kevin Burke, Barclays’s existing chief of Asia-Pacific sales in Singapore, is shifting to London to presume El-Asmar’s existing role, an individual said.Burke didn’t reply an e-mail looking for remark following business hours. The personnel modifications were formerly registered by Structured Products, a magazine.
AXA Asia Pacific's (AXA.AX) sovereign directors finally backed the actual $13.1 billion of invasion offer from parent AXA SA (AXAF.PA) in and AMP (AMP.AX), cleansing a substantial problem for the agreement.AXA Asia Pacific, the 6th biggest wealth manager within the $1.2 trillion Aussie wealth management field, stated the last unsure director had united the other five in backing the deal.
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