Nobel Laureate Ousted From Bank

Bangladeshi Nobel Laureate Muhammad Yunus, who won the Peace Prize for creating microfinance, was ousted from the head of the microfinance bank Grameen, which he founded. It is just the latest trouble for Yunus, who is being sued for defamation by a local politician and has been accused of misappropriating Norwegian development funds. Bangladesh’s central bank ordered his removal from Grameen, saying he violated retirement laws, which require retirement at 60. Yunus is 70.