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Articles related to "david"


Danske Bank, Apple Bill, Chinese Retaliation: CEO Daily for September 19, 2018

  • The CEO of Denmark’s largest bank has fallen on his sword over one of Europe’s worst-ever money laundering scandals.
  • Danske Bank’s slack controls allowed its Estonian operations to be used for money laundering from 2007 through 2015.
  • While it isn’t sure how much money-laundering took place, it knows it made $235 million from the suspicious customers—and what the authorities don’t confiscate from that sum, Danske will donate to an independent foundation that fights international financial crime.
  • The Estonian authorities launched a criminal investigation into the money-laundering at the end of July, prompted by a complaint by none other than Hermitage Capital chief Bill Browder, one of the Kremlin’s bêtes noires.
  • Browder reckons much of the laundered cash came from the Russian state, and alleges that dozens of Danske employees in Estonia were linked with organized crime.

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Before and after photos show how quickly ice is disappearing on Swiss glaciers

  • The Rhone Glacier, a popular tourist spot in the Swiss Alps, has been shrinking quickly over the last several years.
  • Glaciers and their streams, which were abundant many years ago, are disappearing due to climate change.
  • According to Reuters, glaciologists say half of the small glaciers in Switzerland, as well as the glacier-fed streams, will be gone in less than 30 years.
  • To reduce the amount that disappears, nearby residents have been wrapping the glacier in blankets over the past eight summers, Quartz reported.
  • According to Swiss glaciologist David Wolken, the method may be reducing the melting by up to 70%.
  • Take a look at how the amount of ice on the Rhone Glacier has changed since 2008.

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Trade War, Auto Antitrust, Musk Suit: CEO Daily for September 18, 2018

  • Good morning.
  • Is AI really taking off in business?
  • That’s the subject of a new MIT/BCG study.
  • And the answer is “yes”… but only if you are talking about the roughly one-fifth of companies that the study characterizes as “pioneers”—or early adopters.
  • Second, the “pioneers” are rapidly accelerating their applications of AI, moving from focused tests to enterprise-wide applications.
  • Those who aren’t in the pioneer group are moving much more slowly.
  • “There is a feedback effect,” says BCG’s Martin Reeves, one of the authors.
  • “The more you know, the more you can do.” In short, the gap between the AI “haves” and “have-nots” is growing.
  • More news below.
  • This edition of CEO Daily was edited by David Meyer.
  • Find previous editions here, and sign up for other Fortune newsletters here.

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Sephora sets up shop in David Jones

  • Four years after spurning offers from Myer and David Jones, LVMH's global cosmetics chain Sephora has entered into a partnership with David Jones and will open its first shop-in-shop before Christmas.
  • The partnership, announced on Tuesday, promises to reinvigorate David Jones' beauty and cosmetics offering by introducing new and exclusive brands, boosting foot traffic and attracting a new generation of selfie-obsessed shoppers.
  • Sephora will open its first shop-in-shop in David Jones' Melbourne Bourke Street flagship in the next three months - with interactive technologies and facilities enabling customers to experiment with products - and more stores are expected to follow over the next year.
  • David Jones chief executive David Thomas said the partnership with Sephora, the world's largest beauty retailer, would deliver an exciting and experiential new offering for customers.
  • Sephora's deal with David Jones comes two weeks after Myer secured exclusive department store distribution for beauty brand Aesop.

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