Bloomberg Credit Suisse Group AG cut former Chief Executive Officer Tidjane Thiam’s pay by about 15% in his last year in charge, after the Swiss bank became embroiled in a spying scandal that led to his ouster. “Mr. Thiam has taken accountability for the events and accepted a reduction of his non-financial assessment score,” board member Kai Nargolwala wrote in …

Bloomberg For at least a decade, experts have been predicting the demise of the big box supermarket as online rivals like Ocado Group Plc muscled in. Giant warehouse-style grocery stores with thousands of products seemed anachronistic in an era when consumers increasingly wanted to shop for fresh, locally produced food, or from the comfort of their living rooms. Now the …

Bloomberg Virgin Australia Holdings Ltd furloughed 80% of its 10,000-strong workforce and said it will only keep flying for essential services as restrictions due to the coronavirus eviscerate demand for travel. Shares rose. Domestic capacity will be cut by 90% as 125 aircraft are grounded, with flights retained only for essential services, critical freight and logistics, the airline said in …