Boeing CEO Dave Calhoun to Step Down Amid Safety Crisis
Dave Calhoun, the CEO of Boeing, has announced his resignation, marking the end of his tenure at the helm of the aerospace giant by the year's end
Herbert Stepic, CEO of Raiffeisen Bank International, one of the largest banks operating in Eastern Europe, has offered to resign after his personal investments in Asian real estate came under increasing scrutiny.
He said in a statement, he made the decision because inquiries into his investments and recent news reports about them threatened to damage Raiffeisen's reputation.
Earlier this week, an Austrian magazine reported that Stepic used companies in the British Virgin Islands - Yatsenko Int, and Hong Kong - Takego Holdings, to buy property offshore without informing his employer.
The information stems from the journalists' investigation known as Offshore Leaks.
In the statement, Stepic explained that the companies mentioned by the reports were not "offshore constructions" and all the investments were made with income that had already been taxed in Austria.
"Secondly, these are actual real estate investments that were processed through investment companies. I have no reservations in disclosing these facts to the relevant authorities," he said.
Stepic built his reputation in Austria's banking sector when he started Raiffeisen's expansion into Eastern Europe, a step that turned a local Austrian lender into one of the biggest banks in the region. Raiffeisen opened its first business in Eastern Europe in 1987, in Hungary, years before the collapse of Communism in 1989.
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Ukraine's Prime Minister, Denys Shmyhal, issued a stark warning, stating that a third world war would erupt if Russia emerged victorious in the ongoing conflict
In a widely expected outcome, Croatia's ruling conservative party, the Croatian Democratic Union (HDZ), emerged victorious in the parliamentary elections
Republican Congressman Mike Johnson from Louisiana has made a significant pivot in his stance on foreign aid, potentially swaying conservative opinion in favor of supporting aid to Ukraine
German authorities have apprehended two individuals holding dual German and Russian citizenship on suspicion of orchestrating acts of sabotage, including targeting United States military installations, to undermine military support for Ukraine.
Indonesia is grappling with a mounting crisis as rescue teams mobilize to evacuate thousands of people following a series of volcanic eruptions that have rattled the region
In a rare and highly anticipated move, Pavel Durov, the enigmatic owner and founder of the social platform Telegram, has emerged from years of relative seclusion to grant his first interview in a decade
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022