Gap brand President and CEO Jeff Kirwan has stepped down after three years and parent Gap Inc. has launched a search for a new chief, the company said Tuesday. Kirwan led efforts to create a more efficient supply chain and improve the fit and quality of its fashions.
Ilmars Rimsevics, head of Latvia's central bank, has been suspended for allegedly soliciting a bribe, as corruption claims and counterclaims hit the government and financial institutions. The Defence Ministry says the claims might be part of a disinformation campaign to destabilise the government, although it has not named a perpetrator.
Technical analyst Tony Sycamore predicts a brief pullback for the euro against the US dollar, which could see the euro slip to as low as 1.1453 from about 1.25. However, an Elliott Wave analysis of the euro-dollar chart suggests an ascent to 1.50 could follow the pullback.
Senate Minority Leader Charles Schumer, D-N.Y., has suggested to President Donald Trump that Dan Berkovitz, general counsel at the Commodity Futures Trading Commission from 2009 to 2013 and a partner at WilmerHale, become a Democratic member of the regulator, sources say.
The position of New York City "night mayor," announced last year by Mayor Bill de Blasio, remains unfilled. The person is meant to be a nightlife ambassador who serves as a liaison between the nightlife industry and city officials.
A film and TV camera professionals union has filed a claim against its former treasurer's fiduciary bond for more than $25,000 worth of hotel reward points he is accused of improperly taking upon leaving his post. A trial board of the union ordered the former treasurer to return more than $15,000.
EU officials are alarmed by possible consequences of a tax overhaul in the US, but finance ministers are having trouble agreeing on a unified response. The tax overhaul raises doubts about the EU's effort to implement a digital tax.
Investors who have poured money into high-yield bonds likely will withdraw from the investments if the 10-year German government-bond yield, which stands at 0.74%, exceeds 1%, according to a Bank of America survey. Expected tapering of European Central Bank bond buying might prompt investors to switch to government debt from corporate bonds, strategists say.
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