A bad week for … (October 21, 2012)
Jimmy Lai Chee-ying
The Hong Kong media tycoon was forced to turn his back on his Taiwan business, agreeing to sell his newspaper and magazine interests there to Jeffrey Koo Jr, the eldest son of Chinatrust Financial Holding chairman Jeffrey Koo Len-song. Lai gave a tearful goodbye to his staff on the island, but at least the boost to his Next Media conglomerate's share price will offer some consolation.
The banker abruptly quit as chief executive of Citigroup the day after a stronger-than-expected earnings report. The exact circumstances of Pandit's departure remain unclear, but he is believed to have clashed with the bank's chairman, Michael O'Neill.
Divorce can be an expensive business, if you happen to be a millionaire celebrity. Reports in Australia claim Crowe has split from his wife of nine years, Danielle Spencer, and faces the likelihood of a US$25 million (HK$194 million) divorce settlement. The couple split amicably and are determined to protect their two children from any fallout.