Credit Suisse, a systemically important bank in Switzerland, has been instructed by the Federal Council to cancel or reduce outstanding bonus payments for its top three levels of management. The Federal Council is also examining the possibility of recovering bonuses that have already been paid. This measure is in accordance with Swiss banking law and aims to regulate bonus payouts for the bank's management.
Hollywood is currently facing the possibility of a strike as the Writers Guild of America engages in high-stakes negotiations with studios over a contract set to expire on May 1. If a strike were to occur, it would have a significant impact on television and film projects throughout the industry, causing major disruptions. The negotiations are crucial in determining the future working conditions and agreements for writers in Hollywood.
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