Tokyo Introduces 4-Day Week

Tokyo Introduces 4 Day Week

Employees of the Tokyo Metropolitan Government will be able to work four days a week. They will be given a choice of which additional day they take off. This measure is designed to ease the burden of child rearing as Japan struggles with an ever-decreasing birth rate. The authority has also launched a dating app. Users are required to commit that they will only use it to find partners for marriage and not short-term relationships!

Trader Jailed for Dividend Fraud

A Danish court has jailed Sanjay Shah for nine years to masterminding a dividend fraud. The scheme managed to obtain refunds from the tax authorities for taxes that were never paid. The Solo Capital trader was extradited from Dubai after defrauding Denmark of Euro 1.3 billion. He will appeal.

HSBC Looks at Retail Cuts

It is understood that HSBC is looking at the possibility of cutting its retail banking presence in countries other than the UK and Hong Kong. Mexico, Indonesia and Malaysia are thought to be targeted. The bank will prioritise wealthier customers in these locations.

Deutsche Loses CRO

Deutsche Bank’s CRO, Olivier Vigneron, will leave after just three years. His departure follows a period of larger than expected loan losses principally stemming from real estate. He will be replaced by Marcus Cromik, formerly of Commerzbank.