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Ulster Bank chief resigns

The head of Ulster Bank is to step down after 10 years as chief executive, the company said today.

Cormac McCarthy (47) will leave the post to pursue other career opportunities.

"I have decided to move on from my position as chief executive of Ulster Bank as I believe that now is the right time for me to seek new opportunities," Mr McCarthy said in a statement.

A spokesman for the bank refused to comment further.

Kenya calls for new visa rules

Five East African nations want to collapse their borders so that foreigners will need only one visa to travel to any of the five nations, Kenya's immigration minister said.

The proposal is part of an effort to forge Burundi, Kenya, Rwanda, Tanzania and Uganda into a single market and increase investment in the region, Immigration Minister Otieno Kajwang said.

Buffett gives away €1.5bn

Investor Warren Buffett delivered his annual gifts of Berkshire Hathaway stock worth $1.9bn (€1.5bn) to the five foundations he promised the bulk of his €45bn (€35bn) fortune to.

Most of the 24.5 million shares -- 20.4 million -- went to the Bill & Melinda Gates Foundation; the rest went to Mr Buffett's own foundation and those run by his three children.