Credit Suisse finds ‘material weakness’ in its financial reporting, scraps exec bonuses
Credit Suisse acknowledged “material weakness” in its financial reporting Tuesday as it scrapped bonuses for top executives in the wake of the bank’s worst annual performance since the global financial crisis.
The embattled Swiss lender also said chairman Axel Lehmann had proposed to “voluntarily waive” a share award worth 1.5 million Swiss francs ($1.6 million) for the 2022-2023 financial year, given the firm’s “poor financial performance.”
Credit Suisse (CSGKF) said in its annual report that it had found “the group’s internal control over financial reporting was not effective” because it failed to adequately identify potential risks to financial statements.
The revelations come just days after the bank delayed the publication of the annual report after an eleventh-hour query from the US Securities and Exchange Commission over cash flow statements for 2019 and 2020.
China says Aukus submarines deal embarks on ‘path of error and danger’
Beijing accuses US, UK and Australia of disregarding global concerns with plan to build nuclear-powered vessels
China has accused the US, UK and Australia of embarking on a “path of error and danger” in response to the Aukus partners’ announcement of a deal on nuclear-powered submarines.
“The latest joint statement from the US, UK and Australia demonstrates that the three countries, for the sake of their own geopolitical interests, completely disregard the concerns of the international communities and are walking further and further down the path of error and danger,” China’s foreign ministry spokesperson Wang Wenbin said during a regular press briefing on Tuesday.
Casualties mount in battle for Bakhmut – as ICC ‘prepares first arrest warrants’ over Russia’s invasion
The prosecutor at the International Criminal Court opened an investigation into possible war crimes, crimes against humanity and genocide in Ukraine a year ago
Both Ukraine and Russia have reported inflicting heavy losses during fierce fighting around the eastern city of Bakhmut – while the International Criminal Court (ICC) is said to be planning to issue arrest warrants against a number of Russians.
Commanders on both sides have reported relentless fighting around Bakhmut, which has become the focus of a months-long campaign to take the city in the region of Donetsk which has led to some of the bloodiest fighting since Moscow’s invasion began.
Meanwhile, the prosecutor at the ICC is expected to ask pre-trial judges to approve arrest warrants against Russian individuals relating to the abduction of children from Ukraine to Russia and the targeting of civilian infrastructure in Ukraine, according to reports from Reuters and The New York Times. If successful, it will be the first time ICC warrants are issued in relation to Moscow’s invasion of Ukraine.
Survey names Lahore, Pakistan, most polluted city on earth
Lahore, Pakistan's second-largest city, was named the most polluted city in the world in an air quality report. Chad was named the most polluted country.
The Pakistani city of Lahore rose 10 ranks from 2021 to become the city with the worst air quality last year, while Bangladesh was replaced by Chad as the world's most polluted country, a report published by the Swiss firm IQAir found on Tuesday.
In 2021, air quality guidelines released by the World Health Organization (WHO) recommended an annual PM2.5 exposure concentration of not more than 5 micrograms per cubic meter.
PM2.5 is a major air pollutant that is used for examining air quality and is measured in micrograms per cubic meter.
What is PM2.5 concentration?
This is the amount of a certain type of particles present in the air that are up to 2.5 microns in size.
Combustion engines, industries, wood burning, construction and agricultural processes can produce these particles, which can vary chemically and in size.
Prosecutors’ test backfires, fake evidence implied in retrial request
THE ASAHI SHIMBUN
March 14, 2023 at 15:58 JST
In granting a retrial, the Tokyo High Court not only blew apart prosecutors’ case but also strongly suggested that planted evidence was used to place a former boxer on death row for nearly 35 years.
In its ruling on March 13, the high court cast doubt on the guilt of Iwao Hakamada, 87, for the murders in 1966 of four individuals in what is now Shizuoka city.
Hakamada was convicted and sentenced to death by the Shizuoka District Court in 1968.
The key point in deciding on a retrial was the discoloration of five articles of clothing found in a miso tank at the company 14 months after the family members were killed.
Ukraine war: Russian soldier arrested 'after six months in hiding'
A Russian soldier who claims to have avoided detection in Ukraine's Kharkiv region for six months has been detained, Ukrainian police say.
The 42-year-old serviceman was stopped by members of the Ukrainian armed forces while they were patrolling the Kupiansk district, Kharkiv's regional police department said.
The area was retaken by Ukrainian forces last September.
The soldier told police he had hidden in abandoned buildings since then.
After they found him on Monday, police discovered that the man - dressed in civilian clothes - was a serviceman with Russia's 27th Separate Guards Motor Rifle Brigade and was a resident of the Moscow region.
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