A bad week for ...
Albert Lam Kwong-yu
The former Civil Aviation Department director, 66, was convicted of insider trading, fined HK$50,000 and handed a suspended jail term at Eastern Court. He was ordered to pay half the investigation cost sought by the Securities and Futures Commission. Lam (pictured) was convicted of using advance knowledge of a deal involving the Hong Kong Aircraft Engineering Co, where he served as non-executive director, to buy shares in the firm. Lam said his mind was impaired by alcohol when the trade was made.
The son of media mogul Rupert Murdoch resigned as executive chairman of News International, the scandal-plagued News Corp unit. The younger Murdoch will move to New York to work elsewhere in his father's empire. He has faced repeated questions over what he knew about the extent of phone-hacking at the now defunct News of the World tabloid. It is known to have gone on until 2006, before he arrived, but he presided over a period of repeated denials the hacking involved more than a 'single, rogue' reporter.
Australia's former foreign minister (pictured) lost a leadership battle against Prime Minister Julia Gillard for a second time, ending his bid to recapture the job Gillard took from him in an internal party coup in 2010. But she remains unpopular with voters, and unless that changes she could lead Labor to huge losses in next year's election.