Good morning. Lisa Osofsky, director of the U.K.’s Serious Fraud Office, will leave her job in August 2023 after completing her five-year tenure with the white-collar crime prosecuting agency, according to a person with knowledge of the SFO’s plans.

The U.K. attorney general’s office will start its search for her successor immediately, the person said in an email, adding that Ms. Osofsky will remain in her job for a short period after her tenure ends if needed.

The leadership of the SFO by Ms. Osofsky, a former U.S. prosecutor, has been marked by scrutiny over its handling of a criminal bribery probe into oil-services consulting firm Unaoil Group. Late last year an appeals court cited serious missteps by the SFO in its case involving Unaoil, a Monaco-based oil-services company, prompting the attorney general for England and Wales to launch an independent review.

The review, published in July, found some failings in the case involved “cultural” issues within the SFO, such as noncompliant record-keeping, inadequate resourcing of the case and a lack of understanding of priorities between the case team and senior management. The report offered 11 recommendations, including the development of a revised process for oversight of sensitive and high-risk cases and having a system to support and monitor resourcing across all cases.

Speakers at the WSJ Risk & Compliance Forum on Nov. 16 include Brian Nelson from the U.S. Treasury Department and Robert Silvers from the Department of Homeland Security, along with multiple experts on corporate risk and compliance. Sign up here for discussions on economic sanctions, forced labor, climate change regulation, whistleblowers and cybersecurity.

The U.S. International Development Finance Corp. has appointed a former Western Union Co. executive as its new chief risk officer.

Jody Myers worked for more than eight years at money-transfer and payments company  Western Union, most recently as its chief risk officer. Before that, he served as the International Monetary Fund’s assistant general counsel for more than eight years, according to his LinkedIn profile.

Mr. Myers also previously worked for the National Security Council and for the U.S. Treasury Department, including with the Financial Crimes Enforcement Network. He also worked as a lawyer in private practice for various firms.

International Development Finance Corp., a U.S. federal agency, invests in development projects and also provides political risk insurance for private-sector developments.

—Richard Vanderford

The U.K. said its sanctions targeting Russia have frozen nearly £18.4 billion in assets, equivalent to about $21.5 billion, as the country plans to ratchet up enforcement.

The figure, released Thursday in an annual report by the Office of Financial Sanctions Implementation, dwarfs all other U.K.-imposed sanctions combined. U.K. authorities touted the amount, current as of Oct. 20, as evidence of the country’s resolve in countering Russia’s aggression in Ukraine.

“We will continue to ramp up our sanctions to exert maximum economic pressure on the Russian regime until Ukraine prevails,” Minister of State Anne-Marie Trevelyan said.

• President Biden will nominate Daniel Werfel to lead the Internal Revenue Service, choosing the agency’s former acting commissioner to implement the $80 billion expansion that Congress recently approved.
   
• California is suing 3M Co. and DuPont de Nemours Inc. along with other manufacturers of PFAS, a collection of chemicals that have been linked to health issues including cancer and are commonly found in consumer products such as fabrics, food packaging and cookware.
   
• Gaia Inc., a streaming video business focusing on yoga and alternative health, said the company and its chief financial officer have agreed to pay a total of $2.05 million to resolve an investigation by the U.S. Securities and Exchange Commission.
   
• The Federal Trade Commission announced Thursday that it plans to expand its use of a century-old statute that could allow the agency to bring more lawsuits against what it sees as anticompetitive corporate behavior.
   
• Crypto exchange FTX lent billions of dollars worth of customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion, a person familiar with the matter said.
   
• A Connecticut judge ordered conspiracy theorist Alex Jones to pay an additional $473 million in punitive damages for making defamatory claims that the Sandy Hook school massacre was a hoax, bringing the total judgment against him in the case to $1.4 billion.
   
• Former Yale University soccer coach Rudolph Meredith was sentenced in a Boston federal court to five months in prison for his involvement in the sprawling college-admissions cheating scandal.

Nicole made landfall as a Category 1 hurricane in eastern Florida early Thursday, causing at least two deaths, knocking down some homes and cutting off power for hundreds of thousands of customers around the state.

The storm’s center arrived around 3 a.m. Eastern time on North Hutchinson Island, just south of Vero Beach, with maximum sustained winds of 75 miles an hour, according to the National Hurricane Center. It then weakened to a tropical storm as it swept northwest across the state, with winds of 45 miles an hour by late Thursday afternoon.

• Thousands of protesters took to the streets across France to demand higher wages to cope with rising energy bills and broader inflation, increasing pressure on French President Emmanuel Macron.
   
• The White House said President Biden planned his first face-to-face meeting with Chinese leader Xi Jinping since taking office, as distrust and tensions between the powers run high.
   
• Iran said Thursday it has built a hypersonic missile capable of penetrating any air-defense system.
   
• President Biden is set to arrive at international climate talks in Egypt on Friday eager to reassert U.S. leadership.
   
• Ukraine’s forces swept toward the southern city of Kherson on Friday, as Russian forces said they had completed a withdrawal from the regional capital in one of the largest symbolic defeats for the Kremlin since it launched its invasion.

Keurig Dr Pepper Inc. said Ozan Dokmecioglu, who took the helm of the beverage maker at the end of July, has resigned as president, chief executive and a board member over violations of the company’s code of conduct.

Keurig didn’t disclose details of the violations by Mr. Dokmecioglu but said they were unrelated to the company’s strategy, operations or financial reporting.

Oracle Corp. said it has hired the former chief executive officer of Meta Platforms Inc.’s now-closed cryptocurrency project as its new legal chief, the company said Thursday.

Stuart Levey until June served as the CEO of the Diem Association, Meta Platform’s cryptocurrency project, also formerly known as Libra.

Tech leaders who spent years eagerly adding to their staffs are now lining up to deliver a different message: Sorry, we grew too fast.

Mark Zuckerberg on Wednesday joined the ranks of tech executives offering a mea culpa, when the chief executive of Facebook parent Meta Platforms Inc. said the company would cut 11,000 workers, or 13% of its staff

• Twitter Inc. owner Elon Musk said bankruptcy is a possibility for the company, adding to the chaos that has engulfed the social-media platform in the two weeks since the billionaire took it over. He also ordered the end of remote work for most employees. 
   
• Amazon.com Inc. Chief Executive Andy Jassy is leading a cost-cutting review of the tech giant and paring back on businesses at the company that haven’t been profitable, according to people familiar with the matter.
   
• WeWork Inc. said it is closing about 40 underperforming locations in the U.S., with most of the closures expected this month as the office-sharing company cuts costs and seeks to turn a profit.
   
• Juul Labs Inc. has secured a cash infusion from some of its early investors to stave off bankruptcy and plans to lay off about a third of its global staff, company officials said.