Finance

Swedbank dramatically dismissed its Chief Executive Birgitte Bonnesen on Thursday shortly before its annual meeting after the lender faced allegations it was involved in money laundering in the Baltics. “The developments during the past days have created an enormous pressure for the bank. Therefore, the Board has decided to dismiss Birgitte Bonnesen from her position,”
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The Indian market is unlikely to suffer no matter the outcome of India’s parliamentary elections, which is starting next month, according to a Credit Suisse strategist. Historical performances of major Indian indexes, Sensex and Nifty 50, around the last six elections indicate the polls have had little impact on the market, Neelkanth Mishra, co-head of
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Prudential, the United Kingdom’s largest insurer, said it finished transferring some operations to Luxembourg about a week ago in preparation of Britain’s impending exit from the European Union. The insurer announced earlier this month that it was transferring 36 billion pounds ($47.58 billion) of assets to Luxembourg, which is to become the company’s hub for
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