HSBC boss prepares to axe jobs, businesses in strategy refresh (Reuters)
HSBC is set to cut thousands of staff, axe businesses in Brazil and Turkey and shrink its investment bank in a fresh attempt to become simpler and improve its financial performance. Chief Executive Stuart Gulliver is due to outline on Tuesday his second major strategic plan since taking over at the start of 2011 and needs to show the bank is not too big and unwieldy to succeed, investors and analysts say. In all, the measures could see more than 10,000 jobs go from HSBC's global workforce of 266,000 staff.
Regulator Said to Have Pressed for Exit of Deutsche Chiefs (Dealbook)
The German regulator, known as BaFin, pressed for Anshu Jain and Jürgen Fitschen to step down as co-chief executives of Deutsche Bank because of unhappiness over the way they had handled an investigation into alleged manipulation of benchmark interest rates by bank employees, the people said.
Greece, Creditors Consider Extending Bailout (WSJ)
Greece and its creditors are discussing an extension of the country’s bailout program through March 2016, people familiar with the talks said, an offer aimed at breaking a protracted standoff over the terms for fresh aid and averting a Greek default.
Snoop Dogg Sues Pabst Brewing for Cut of Colt 45 Brand Value (Bloomberg)
The rapper, whose legal name is Calvin Broadus Jr., said his 2011 deal with the brewer made him a “brand ambassador” for Blast by Colt 45, a fruit-flavored malt liquor. The deal contained a phantom-equity clause that entitled him to 10 percent of the net sale price of the Colt 45 brand, according to a complaint filed Monday in Los Angeles state court. The largest privately-held U.S. brewer was sold last year for a reported $700 million to Blue Ribbon Intermediate Holdings LLC, a partnership between entrepreneur Eugene Kashper and private-equity group TSG Consumer Partners LLC.
Dealbreaker Dramatic Reading Night Returns June 24th (DB)
Buy your ticket to the greatest night of all our lives now.
Las Vegas Strip Club Recruiting High School Graduates (AP)
New advertisements outside Little Darlings strip club in Las Vegas encourage recent high school graduates to apply, promoting stripping as a way to earn money for college. KVVU-TV reports that Little Darlings manager Rick Marzullo says the ads fit in with the character of Las Vegas. The signs have slogans like "Now auditioning the class of 2015" and "Pay your way through college." Marzullo says he is offering a way for young women 18 and older to make good money in a struggling economy.
Wearables at work: the new frontier of employee surveillance (FT)
How many workers would say yes, uncoerced, and under what conditions? PwC asked 2,000 people recently: 40 per cent said they would wear a workplace wearable, rising to just over half if they knew it would be used to improve their wellbeing at work. Employers and employees might share the same goals (less stress in the workplace, say) but then again, they might not. Many of those who said “no way” did not trust their employer not to use the data against them. A promise to anonymise the data and only analyse them in aggregated form would help win people over, PwC found.
Coding Boot Camp Enrollment Soars as Students Seek Tech Jobs (Bloomberg)
More than 16,000 students will graduate from programming boot camps, up from 6,740 in 2014, according to data from Course Report, a website that allows students to rate the schools. The intensive training programs teach students how to create websites and mobile apps in two to six months and cost as much as $21,000.
Swiss Bankers Losing Secrecy Helps Image Abroad, Finma CEO Says (Bloomberg)
Switzerland has tried to shake off its reputation as the world’s largest tax haven by cooperating with other governments trying to recoup undeclared assets. The government says it plans to share foreign clients’ account data with other countries by 2018 as part of a new system designed by the Organization for Economic Cooperation and Development.
Cops: Would-Be Burglar Baked Potato, Raked Leaves (Newser)
Patrick Lynn Waits, 45, was arrested early Tuesday following a bizarre chain of events that confused residents of a Hobbs home, the Hobbs News-Sun reports. A female resident awoke to noise in her kitchen, and found Waits allegedly wiping down a countertop and baking a potato in her microwave oven, police said. "She asked him what he was doing there, and he told her he was making a potato," according to a police report. When told to leave, a criminal complaint says Waits walked outside and left his potato in the microwave. The report said Waits then began to rake leaves in the front yard.