Mar 31, 2017

Multi-country tax evasion linked to Credit Suisse

Keystone via AP

European and Australian authorities are investigating several thousand leads in a multi-country tax evasion probe linked to Credit Suisse, officials reported Friday, per the AP. That includes hundreds of people in The Netherlands, France, the UK, Australia, and Germany. Dutch authorities started the investigation after receiving a tip-off, according to Reuters. Credit Suisse did not confirm a link between tax evaders and its bank.

The casualties so far: Authorities have searched people's houses, detained two people, and seized Credit Suisse documents as well as assets including luxury cars, dozens of paintings, jewelry, and even a gold bar. Dutch authorities said there would be more to come.

It doesn't look good: Switzerland bristled at the fact that it wasn't alerted of the probe, demanding an explanation. Plus, Swiss banks have a reputation for being a safe-haven for tax evaders β€” the U.S. DOJ fined Credit Suisse 2.6 billion USD in 2014 for helping Americans evade taxes β€” and this comes a day before Credit Suisse is set to start its program of Automatic Exchange of Information with European countries in the name of transparency.

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What to watch in tonight's Democratic debate

Bernie Sanders at a campaign rally in Colorado. Photo: Helen H. Richardson/MediaNews Group/The Denver Post via Getty Images

Bernie Sanders is now the clear front-runner for the Democratic presidential nomination, and his opponents are ready to try to knock him down at tonight's debate in Charleston, South Carolina β€” especially Michael Bloomberg, who was the punching bag at the Las Vegas debate.

Why it matters: This is the last debate before Super Tuesday, when Sanders is expected to win California and Texas and could secure an insurmountable lead for the Democratic nomination. That's a direct threat to the entire field, but especially to Bloomberg, who skipped the early states to focus on the March 3 contests.

Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

Go deeperArrowUpdated 3 hours ago - Economy & Business