News Muncher - searching for cut

The international Red Cross cuts budget, staffing levels as humanitarian aid dries up

GENEVA — The part of the international Red Cross that deals with conflict and prisoners of war announced Monday it will trim its projected budget by about one-eighth next year and cut nearly 20% of staff at its headquarters. The International Committee of the Red Cross, which among other things has focused on detainees on both sides of Russia’s war …

Swiss cut up to $66M in bonuses for top Credit Suisse execs

GENEVA — The Swiss government says it’s ordered cuts to the bonuses of top executives of Credit Suisse, with nearly 1,000 managers being “deprived” of tens of millions combined as the troubled bank heads toward a forced merger with rival UBS. The rescue capped years of trouble at Credit Suisse — among 30 banks worldwide considered “systemically important” — after …

Cut

Job Cuts, no bonuses: Credit Suisse posts worst loss since 2008 financial crisis

Investment banking company Credit Suisse Group AG has made a net loss of 1.39 billion francs for the fourth quarter, which brought its total net loss in 2022 to 7.29 billion francs, marking the bank's second consecutive year in the red. On Thursday, Switzerland's second-biggest bank reported its worst annual loss since the 2008 global financial crisis after rattled clients …

Former FIFA official's ban for corruption cut to 15 years

Former FIFA Council member Kwesi Nyantakyi had his life ban for financial corruption cut to 15 years on appeal, the Court of Arbitration for Sport said Friday. Nyantakyi had been filmed by a television program in his native Ghana accepting $65,000 in cash from undercover reporters posing as businessmen seeking favours. Days before the 2018 World Cup opened, Nyantakyi resigned …

Ghana Fifa Council Corruption Cut