Credit Suisse CEO Tidjane Thiam is stepping down in the wake of a spying scandal, and will be replaced by Thomas Gottstein who currently heads the bank’s Swiss unit. The news follows a drawn-out spying scandal at the bank. An internal investigation by law firm Homburger into the scandal was said to have found “zero evidence” that Thiam was aware of the surveillance.
The House Oversight Committee has asked Ben Carson, Housing and Urban Development Secretary, to provide documents explaining why $31,000 was spent on a dining set for his office, when the budget limit is $5,000. Senior White House officials were angered by how the stories were handled by HUD and have discussed taking over media control.
The University of Virginia’s fraternity, Phi Kappa Psi, filed a lawsuit against a discredited gang rape article in the magazine Rolling Stone, originally for $25 million, but have been awarded $1.65 million. In a statement made by the fraternity they said, “it has been nearly three years since we and the entire University of Virginia community were shocked by the now infamous article,” the fraternity is planning to donate a large sum of the money to groups that offer awareness on sexual assault education, training, and awareness. Rolling Stone has declined to offer a statement.