Junta says turnout in first vote in five years is 52%, which observers have described as low compared to past polls

Myanmar’s military-backed Union Solidarity and Development party (USDP) is leading after the first phase of a contentious general election, early results cited by state media showed, in the first vote since a 2021 coup.

Having sparked a nationwide rebellion after crushing pro-democracy protests in the wake of its coup, the ruling junta has said the three-phase vote would bring political stability to the impoverished nation.

Executive chair Richard Baker to replace Marc Metrick after company misses $100m interest payment on debt

Saks Global said on Friday that its CEO, Marc Metrick, has stepped down and named executive chair, Richard Baker, as his successor, amid reports that the luxury retailer is preparing for bankruptcy.

The change at the top comes days after the Wall Street Journal reported that the Neiman Marcus parent company is preparing for bankruptcy after missing an interest payment exceeding $100m on debt from its Neiman merger.