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Mastercard CEO Ajay Banga to step down, insider Michael Miebach tapped Mastercard’s chief executive officer of 10 years, Ajay Banga, will step down at the start of the next year, the company said on Tuesday, and be replaced by Chief Product Officer Michael Miebach. Banga, who took charge of the company just after the 2008-09 financial crisis, has seen the payment processor’s revenue triple during his tenure as online shopping gained prominence around the world. India-born Banga will take on the role of executive chairman, while Miebach will become the company’s president on March 1. Source: The Economic Times

Shaktikanta Das uses sports analogy to explain RBI’s stand on banker retirement age The Reserve Bank of India will not be giving in to the banks’ demand to increase the retirement age of private sector bank chiefs and RBI’s Governor Shaktikanta Das explained it with an analogy from cricket. “You must retire when people ask ‘why’ and not ‘why not’,” Das said, quoting former Indian cricketer Sunil Gavaskar. “I’m a fan of cricket.” Speaking at an event by Mint, Das was asked why there was no age limit for one to be prime minister but a private bank head needed...

Warren Buffett slammed Wells Fargo’s fake-accounts scandal as a ‘total disaster’ after the bank agreed to a $3 billion settlement Warren Buffett blasted Wells Fargo for its fake-accounts fiasco in a CNBC interview on Monday. The billionaire investor and Berkshire Hathaway CEO blamed the bank’s incentive structure for sparking the scandal, and pilloried its leaders’ failure to address the issue when it first came to light. “They obviously had a very dumb incentive system, people started playing it in various ways, and the big thing is they ignored it when they found out about it,” Buffett said. Source: Markets Insider

Mission Mangal Director Jagan Shakti Credits Major Part of His Recovery to Akshay Kumar Jagan Shakti, who made his directorial debut with Mission Mangal (2019), was recently diagnosed with Arteriovenous Malformation (AVM) when he was heading to an airport. In a recent interview, he assured that he is well now and credited a major part of his recovery to Akshay Kumar. In an interview, he said, “I’m good. Just coming back to the grind, and back to business. I’ll come back and show more good cinema.” Crediting his recovery to actor Akshay Kumar, he said, “Akshay sir is the one who...

Ex-President Mubarak has died at 91: Egypt state TV CAIRO: Hosni Mubarak (http://timesofindia.indiatimes.com/topic/Hosni-Mubarak), the Egyptian leader who for nearly 30 years was the resolute face of stability in the Middle East, died on Tuesday, the country’s state television said, ending his days after a swift and ignominious tumble from power in the Arab world’s pro-democracy upheaval. He was 91. Source: Times of India

Punjab DGP remarks on Kartarpur Corridor could have been avoided: CM Amarinder Singh Punjab Chief Minister Amarinder Singh Tuesday said that DGP Dinkar Gupta’s remarks on Kartarpur Corridor “could have been avoided.” After staying away from the Assembly on Monday when the opposition AAP, SAD-BJP raised a storm seeking removal of the DGP, Amarinder sought from the Speaker Rana Kanwar Pal Singh to address the house before the Question Hour ensued. Addressing the Assembly, Singh said the government is happy about the corridor, but the security challenges cannot be ignored. “We are happy that the Kartarpur corridor is open. We are for free access...

HTC to Launch First 5G Smartphone this Year, Confirms CEO Over the weekend, XDA Developers spotted an interview published by UDN containing a confirmation by HTC’s CEO that the company will launch their first 5G-connected smartphone this year. Despite the continuously diminishing popularity of its smartphones, the once hugely successful Chinese mobile phone manufacturer HTC demonstrated its commitment to the industry by confirming that a 5G-connected device is slated to launch this year. This news comes from HTC CEO Yves Maitre, who stated in an interview published by UDN that 2020 will be a year that the company sees significant...

Coco Gauff breaks WTA into top 50 at the age of 15 American teenager Coco Gauff broke into the top 50 of the updated WTA rankings released on Monday, becoming the first 15-year-old in 15 years to achieve the feat. Gauff, who continued her dramatic rise by reaching the fourth round on her Australian Open debut before losing to eventual champion Sofia Kenin, emulates Bulgarian Sesil Karatantcheva, who made the top 50 at the same age in August 2005. Source: ESPN

Saying foul things doesn’t mean you’re aggressive: Sachin Tendulkar on U19 World Cup final row Batting legend Sachin Tendulkar has expressed his disappointment at the way India players behaved against Bangladesh in the U-19 World Cup played last month in South Africa and said that one doesn’t need to be vocal and say foul things for showing his/her aggression. After Bangladesh defeated India by three wickets (via DLS) in the U-19 final at the Senwes Park last month, the players of the two teams were seen engaging in an exchange of words and even some pushing and shoving on the...

Jio-Microsoft partnership will define this decade: Mukesh Ambani MUMBAI: Speaking to Microsoft CEO, Satya Nadella in Mumbai, Chairman of Reliance Industries Mukesh Ambani said that the Jio and Microsoft partnership will be a defining one in the current decade in the context of digitization and connectivity. “I am very excited about the partnership that Jio and Microsoft will have and I think that will be as we look at this decade, a defining partnership,” he said to an audience of industry leaders. Source: The Economic Times