CEO APOLOGIZES FOR AFFAIR
CEO of Lloyds Banking Group Antonio Horta Osario sent out a company-wide memo, apologizing for the reports that he had an affair whilst on a business trip. Bank statements showed that Osario paid $5,000 on his hotel trip, reclaiming some of that as business expense. However, the CEO says that he only reclaimed what was actually a business expense. The story of his affair was broken by the Sun, which displayed several photos of Osario with the woman he was allegedly sleeping with. The CEO has said that he will not be stepping down. Shares of the bank rose 3%.