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Communications and technology company $VIP said its CEO of VimpelCom Russia (Beeline), Mikhail Slobodin, has resigned with immediate effect after Slobodin was linked by Russia's Investigative Committee to a corruption probe of his prior employer, T Plus. Kjell Johnsen, Head of Major Markets, will lead $VIP's Russian business with immediate effect.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.