Iceland PM Sigmundur Gunnlaugsson resigns


Iceland's prime minister has resigned, the first major casualty of the leaked Panama Papers that have shown a spotlight on offshore finance.The leaks, from Panama-based law firm Mossack Fonseca, showed Sigmundur Gunnlaugsson owned an offshore company with his wife but had not declared it when he entered parliament.

He is accused of concealing millions of dollars' worth of family assets. Gunnlaugsson says he sold his shares to his wife, and denies any wrongdoing.

He is one of dozens of high-profile global figures mentioned in the 11.5 million leaked financial and legal records, which were first published on Sunday.