TOP NEWS
Cathay Pacific
Cathay Pacific CEO Rupert Hogg has resigned following controversy over employees' participation in the Hong Kong protests. One of his deputies, Paul Loo, also resigned—the board said it was time for new leadership at the Hong Kong flag carrier. "These have been challenging weeks for the airline and it is right that Paul and I take responsibility as leaders of the company," said Hogg. South China Morning Post
GE Tumble
Harry Markopolos, the financial examiner who once raised concerns over fraudster Bernie Madoff, has now claimed that GE has been engaging in "accounting fraud" by hiding losses. GE claims Markopolos is only interested in hammering its stock, as he is working with an "undisclosed hedge fund partner." However, Wall Street analysts see smoke, and GE's share's fell 11% on the report's release. Bloomberg
Coinbase Custody
Coinbase may soon be storing 5% of all the Bitcoin in circulation—worth over $7 billion—thanks to its $55 million purchase of Xapo's under-a-Swiss-mountain custody business. Xapo retains its exchange business and Wences Casares is still its CEO. Casares: "It's hard to do a consumer business well at the same time as an institutional business. Earlier this year, we looked for a home for it." Fortune
FTSE Snafu
The London Stock Exchange suffered what it described as a "technical issue" this morning, leading to a suspension of the opening of trading in FTSE 100 and FTSE 250 shares. The FTSE hit a six-month low yesterday and was expected to bounce back this morning—but traders were left tapping their feet. The 100-minute outage was the exchange's worst in 11 years, and when it was over, the FTSE did indeed open up. CNBC
Cyber as an Innovation Driver
Innovating fast is often contingent on a well-orchestrated cyber program. Deloitte found that for most organizations to fully reap the benefits of new, digitally enabled technologies, they need to view cyber as a digital transformation priority.
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AROUND THE WATER COOLER
Iranian Tanker
Gibraltar has freed a seized Iranian tanker despite a major push from the U.S. to take control of the vessel. The U.K. and its Mediterranean territory had apprehended the ship on suspicion of transporting Iranian oil to Syria, but Iran promised the Grace 1 would not bust EU sanctions and Gibraltar let it go. Gibraltar insists "there was absolutely no defiance of the U.S." in its decision. Financial Times
Trade War
Far from winning the trade war, President Trump is pushing the U.S. towards a recession, Shawn Tully writes for Fortune. Trump's one-size-fits-all tariffs are threatening GDP growth—buying goods from other countries than China adds extra costs for producers and consumers—while China is slapping tariffs in a more targeted fashion on goods that the country can't buy at comparable cost elsewhere. Fortune
Trump Eyes Greenland
President Trump has reportedly (and repeatedly) floated the idea of the U.S. purchasing Greenland, the autonomous Danish territory. He is apparently taken with its resources and geopolitical importance. The U.S. has unsuccessfully tried to buy Greenland twice before. Coincidentally, Trump will visit Denmark next month. Wall Street Journal
Korean Jeopardy
North Korea insists that talks with South Korea are over, and launched two short-range ballistic missiles this morning. The North is irked by joint U.S.-South Korea military drills, although these are largely computer simulations. These are not the first missiles it's fired in recent weeks. Reuters
This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.
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