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Credit Suisse Group AG has announced that Prudential Plc's Tidjane Thiam will replace Brady Dougan as new CEO. The move was taken as the bank struggled with regulations that hurt profit and weakened capital.

In a statement on its website, Credit Suisse, on Tuesday, said that Dougan will step down at the end of June. In another statement, Prudential mentioned that a successor to Thiam has been found and will be named after the completion of the regulatory approval process.

The switch has put an Ivory Coast-born French national on the top of Switzerland's second-biggest lender. It has spent the last ten years running insurance businesses.

Police shared that an anonymous blackmailer chose a different way to protest country's use of poisonous bait for pest control. The blackmailer threatened to poison infant formula in New Zealand and sent lacked dairy giant Fonterra packets of milk powder with pesticide.

Prime Minister John Key affirmed that the threat was nothing more than a trick. He has assured parents that formula does not pose any risk to babies. Police said that Fonterra and farming association Federated Farmers, both received anonymous letters in November.

Along with the letters, there were small packets of milk powder, which tested positive for a concentrated form of the agricultural pesticide 1080. This pesticide is used by the nation's conservation department to control pests.

Jurors in a sex discrimination trial against a capital firm of California's Silicon Valley will hear a second day of testimony from Ellen Pao, the junior partner behind a high-profile gender bias lawsuit. According to reports, On Tuesday, Ellen Pao will testify. The plaintiff had taken the witness stand on Monday, in the gender bias case against the venture capital firm Kleiner Perkins Caufield & Byers.

In the first day of testimony, Pao had testified that one of her male colleagues had cut her out of meetings and email chains after the end of their affair. The case against the colleague had drawn attention to gender imbalance at elite Silicon Valley investment companies.

Equifax, Experian and TransUnion, the three largest credit-rating agencies, announced that they will very soon be changing the procedure of handling their records.

The agencies also said they will make dispute resolution process easier for consumers and will provide a waiting period before medical debts are reported.

Data collected on hundreds of millions of people by these agencies is used to create 'credit scores' which can determine who has been granted a loan and how much interest is being paid on that particular loan.

As per the changes announced on Monday, people who contest items in their credit reports will receive additional information concerning the disputes. People will also get instructions on what they can do if they didn't like the answer they receive.

As per the National Bureau of Statistics, inflation in China rose about 1.4% year-on-year in February, but producer prices have slid again. According to NBS, the inflation in the country has been recovering from a five-year-low of about 0.8% in January.

Yu Qiumei, a senior economist at NBS, said that the growth was due to rise in travel prices and food prices during the Chinese New Year. According to the data collected by NBS, the food prices in the country rose by about 2.4% in February compared to prices last year. The data also showed that Consumer Price Index (CPI) in China climbed by more than 1% last month. In January, there was 0.3% growth in CPI.

Automotive giant General Motors will purchase $5 billion shares stock and will be returning cash worth $20 billion to shareholders over the next few years. GM took this step in order to resolve dispute with investors and it also approved a plan in an attempt to boost its share price that has remained unchanged for some time.

The decision was taken after discussions took place between the company and an investment group, which is led by Harry J. Wilson. The group is a part of the government task force, which managed the company's $49 billion bailout few years back.