Wells Fargo started the search for a new chief executive, after the abrupt resignation of Tim Sloan. Mr Sloan gave what many considered to be a poor performance in front of a congressional panel recently, when he was hauled in to explain what was described as a “pattern of consumer abuses” at the bank. Wells Fargo wants to replace him with someone from outside the firm.

India’s Supreme Court ruled that the Reserve Bank of India had overstepped its mark when directing banks to declare a default when a company defers loan payments, and force the company into bankruptcy if it does not resolve its debt position within 180 days. The court found that the central bank could intervene on individual corporate defaults but could not undertake such a sweeping action. It is a big blow to the rbi’s effort to rein in India’s corporate debt.

This year’s flavour

Burger King started selling a plant-based version of the Whopper. The veggie burger, being rolled out at its stores in St Louis, is made by Impossible Foods, a Silicon Valley startup that is at the forefront of the flowering plant-based foods industry. The Impossible Whopper imitates the taste of meat by using heme, an iron-rich protein, extracted from soyabean roots and mixed with other vegetable ingredients.

Global recorded-music sales grew by nearly 10% last year, according to the International Federation of the Phonographic Industry. Although revenues from digital downloads have fallen even faster than those from physical forms of music, such as vinyl albums, over the past five years, streamed music has surged. Nearly half of global sales now come from streaming, reversing an industry decline since 2001 that hit a trough in 2014. Music sales are still performing worse, however, than in the early noughties. The top three global music acts last year were Drake, bts (a South Korean boy band) and Ed Sheeran. Queen were the sixth-bestselling act, boosted by the film “Bohemian Rhapsody”.