Business


Nissan's Carlos Ghosn arrested over misconduct claims Nissan's Carlos Ghosn arrested over misconduct claims
- November 21, 2018

Ghosn has worked for Renault since 1996, and has been its chairman and CEO since 2005, was following a board meeting tonight (Tuesday), a day after the misconduct charges came to light. He gave no examples, citing the secrecy of a police investigation. Nissan chief executive Hiroto Saikawa said, "too much authority was given to one person in terms of governance". (more...)
Larry Kudlow Lays Down Hard Line for Any China Trade Deal
- November 21, 2018

Trade Representative's "Section 301" investigation into China's intellectual property and technology transfer policies, which sparked U.S. tariffs on $50 billion worth of Chinese goods that later ballooned to $250 billion. Mr Lighthizer said the updated report was part of the Trump administration's "strengthened monitoring and enforcement effort". Papua New Guinean Prime Minister Peter O'Neill, chair of the APEC summit, said Sunday the leaders were at odds over World Trade Organization ... (more...)
Apple slashes production on three iPhone models Apple slashes production on three iPhone models
- November 21, 2018

According to the report , the iPhone XR is hard hit, with Apple slashing a planned production run of 70 million units by up to a third. iPhone component makers are in turmoil, claims a WSJ report, as a result of Apple having to slash production orders for the iPhone XS , iPhone XS Max , and the iPhone XR as a result of weaker than expected demand. (more...)
Bitcoin plunges again amid new info on rigging probe Bitcoin plunges again amid new info on rigging probe
- November 20, 2018

The U.S Department of Justice (DOJ) has set its sights on Bitfinex and Tether Ltd in its probe into last year's bitcoin price surge. They were trying to determine where they were using tactics such as wash-trading and spoofing - a practice in which large orders are placed in an attempt to influence the direction of price movement, only to have the order "wall" pulled once its orders begin closing into it. (more...)
Best Black Friday 2018 Amazon Deals Best Black Friday 2018 Amazon Deals
- November 20, 2018

Unique bargains were scarce - only 13% of the products we tracked were at their very cheapest price of the year on Black Friday (meaning that the same price wasn't found on any other day). Currys PC World, said: 'While our prices - like all retailers - can fluctuate throughout the year, we're proud to offer our Price Promise across our entire range - and this covers the Black Friday trading period'. (more...)
Mogherini Says Work Continues on EU System Bypassing US Sanctions Against Iran Mogherini Says Work Continues on EU System Bypassing US Sanctions Against Iran
- November 20, 2018

Jeremy Hunt will use a visit to Iran today to warn the hardline Islamic regime against using "innocent" British-Iranian dual citizens as political pawns. EU foreign policy chief Federica Mogherini said on Monday that date of creation of the EU Special Purpose Vehicle on bypassing the USA sanctions on Iran was still unknown but the work was being carried out in a positive manner. (more...)
Apple Canada Black Friday 2018 Event Coming November 23-26 Apple Canada Black Friday 2018 Event Coming November 23-26
- November 20, 2018

Be sure to check the weekly sweepstakes during the full Season of Savings, which lasts November 19 to mid-January. We're still waiting on the official word from Amazon about when Cyber Monday will start this year. With savings both in-store and online, the item you want will most likely be discounted. Do I Need to be an Amazon Prime Member to Shop Cyber Monday Deals? Traditionally, Cyber Monday tends to have fewer deals available, and of course, it's only online. (more...)
Carlos Ghosn Arrested Over Misconduct In Japan, Nissan Preparing To Fire Him Carlos Ghosn Arrested Over Misconduct In Japan, Nissan Preparing To Fire Him
- November 20, 2018

The firm said it has also uncovered evidence of other "significant acts of misconduct" by Ghosn. The company said its investigation found that Ghosn, 64, and the other board member, Greg Kelly, had been under-reporting Ghosn's compensation. (more...)
APEC summit ends without joint statement amid US-China tensions APEC summit ends without joint statement amid US-China tensions
- November 20, 2018

But he insisted the summit had still been a success and allowed leaders to have "fruitful discussions ... and exchange frank views". "Because otherwise, the loss to the parties, to America and China, as well as to other countries like Singapore and everybody else in the region and in the world will be considerable", he said . (more...)
'Tulip' tower planned for London's skyline 'Tulip' tower planned for London's skyline
- November 19, 2018

Foster + Partners, the architects which have designed the flower-like building, say they want it to complement the Gherkin next door which the firm also designed. The 180 metre tower is officially known as 30 St Mary Axe, its street address. At 305 metres high, it is set to be the City of London's tallest skyscraper, and just one metre below the Shard, the UK's highest building. (more...)
Ineos confirms talks with ConocoPhillips Ineos confirms talks with ConocoPhillips
- November 19, 2018

HSBC and Citigroup are said to have been lined up to provide financing. "ConocoPhillips can confirm that we are in exclusive negotiations with Ineos for our United Kingdom assets", a ConocoPhillips spokeswoman said. At the time, Luke Parker, analyst at energy consultancy Wood Mackenzie, said the Houston-headquartered business's complete withdrawal from the United Kingdom seemed "likely to follow". (more...)
Paul Chipotle manager fired after reportedly asking customers to pay before ordering
- November 19, 2018

Paul, Minnesota branch of the United States burrito chain on Friday. A second clip in the post's thread then shows the men refusing to leave the establishment until they got served while the manager proceeds to call the police. 'She asked for proof of income as if I'm getting a loan'. " What happened here is not how our employees should treat our customers ", Chipotle said. (more...)
Tim Cook: tech firms should prepare for 'inevitable' regulation Tim Cook: tech firms should prepare for 'inevitable' regulation
- November 19, 2018

The same goes for choosing a default search engine. Just weeks after Apple CEO Tim Cook warned USA consumers about dangers stemming from companies stockpiling their personal data, the tech mogul justified his ongoing relationship with one of those firms. (more...)
APEC Economic Leaders’ Meeting wraps up APEC Economic Leaders’ Meeting wraps up
- November 19, 2018

Trudeau's office said the two expressed a consensus about the need for reforms to the World Trade Organization, a group Trump dislikes. "The issues have become very well known, whether it's on WTO or intellectual property". Observers say there is now debate among signatories about whether China should be part of the deal, or the United States should be let back in after President Donald Trump pulled out of the pact. (more...)
Oil prices climb amid expected OPEC cut, but markets remain wary Oil prices climb amid expected OPEC cut, but markets remain wary
- November 19, 2018

Earlier in the session, IEA's Birol said that significant production cuts could be negative for markets, adding that U.S. exemptions of sanctions against Iran have surpassed market expectations, motivating prices to correct lower. This comes in part after Washington granted Iran's major oil customers, mostly in Asia, unexpectedly broad exemptions to sanctions it re-imposed on Tehran in November. (more...)
Viral Acharya's recent remarks discussed in heated manner at RBI board meet Viral Acharya's recent remarks discussed in heated manner at RBI board meet
- November 19, 2018

A lot will depend on the guidance provided by RBI governor Urjit Patel at the RBI board meeting today. The Congress has accused the Modi government of destroying every institution in the country and the latest one being the Reserve Bank of India . (more...)
FBI Investigates Death of Woman on Princess Cruise FBI Investigates Death of Woman on Princess Cruise
- November 19, 2018

A man was hauled off a cruise ship after a woman was allegedly choked and pushed off a balcony, severing her leg after the couple reportedly had a volatile altercation during a Caribbean getaway. The statement says local authorities met the ship when it arrived in Aruba and cruise officials are cooperating with investigators. A spokesman for Princess Cruises said the cause of death was not yet known. (more...)
Volkswagen to Spend USD 50 Billion Electric and Self Driving Vehicles Volkswagen to Spend USD 50 Billion Electric and Self Driving Vehicles
- November 19, 2018

Volkswagen also said that it wanted its automotive division to lower its capital expenditure ratio to 6% of revenues from 2020 onward. VW's upcoming I.D. Another 15% is expected to be hybrids, which combine an electric motor with a traditional internal combustion engine, and 60% of the cars will be powered by gasoline or diesel engines that are more fuel-efficient than today. (more...)
Apple cuts production orders for all three new iPhone models
- November 19, 2018

Citing unnamed sources, the article said Apple last month lopped a third off the 70 million units it had ordered for its new iPhone XR model between September and February - and then it reduced its orders again. Apple's suppliers have for days been sounding warnings about iPhone demand . In India, Apple's sales have stumbled, particularly in light of the new products which are priced highly. (more...)
Nissan's Carlos Ghosn to be arrested in Japan for under-reporting salary Nissan's Carlos Ghosn to be arrested in Japan for under-reporting salary
- November 19, 2018

Renault shares fell as much as 14.4 per cent in Paris on Monday, the lowest in nearly four years in the wake of the scandal, while Nissan shed 0.45 per cent to ¥1005.5 (Dh32.78) at market close in Japan. Brazilian-born, of Lebanese descent and a French citizen, he began his career at Michelin in France, moving on to Renault. He joined Nissan in 1999 after Renault bought a controlling stake and became its CEO in 2001. (more...)
Fairfax Media shareholders approve Nine merger Fairfax Media shareholders approve Nine merger
- November 19, 2018

But the Australian Competition and Consumer Commission ruled earlier this month that the Fairfax-Nine merger "was not likely to substantially lessen competition in any market". Like news organisations worldwide, Fairfax has been shedding jobs for years and the takeover by Nine has raised fears of further editorial cutbacks. (more...)
ICO Issuers Settle Registration Charges With SEC ICO Issuers Settle Registration Charges With SEC
- November 19, 2018

But now, the agency appears to be making up for lost time. The SEC's Friday announcement centered on two firms: CarrierEQ Inc ., also known as Airfox, and Paragon Coin Inc ., both of which conducted token sales a year ago. Furthermore, the two organizations have to file periodic reports with the SEC for at least one year. Based on an announcement on Friday from the SEC, the two crypto startups are now going to be registering their ICO tokens as securities. (more...)
Ahead of crucial board meet, government proposes committees to monitor RBI
- November 19, 2018

Tensions between the government and the central bank have been rising since the beginning of the year over multiple issues. Today's board meeting is crucial given the differences between the RBI and Finance Ministry on several contentious issues including the transfer of additional surplus from the central bank to the government. (more...)
Ripple boss takes aim at SWIFT Ripple boss takes aim at SWIFT
- November 19, 2018

Previously, even though XRP has overtaken Ethereum as the largest altcoin, the move has been temporary and Ethereum has taken back the title in a matter of hours. The third-largest cryptocurrency XRP definitely took advantage of the last week's rebound that started out with the first days of November. Ripple company's defense lawyers stated that the consolidated suit fits the requirements to be presented at the higher, federal court. (more...)
Cabinet Members Quit, May's Future in Peril, Pound PLUMMETS — BREXIT BREAKDOWN Cabinet Members Quit, May's Future in Peril, Pound PLUMMETS — BREXIT BREAKDOWN
- November 19, 2018

Further recovery for the Pound (GBP) came as Environment Secretary Michael Gove threw Prime Minister Theresa May a lifeline by opting not to resign, consolidating market optimism for Sterling. As we have mentioned in the past few months, we believe that this would lead to a sharp decline in the value of the Pound (Figure 4) and could prove a significant net negative for the United Kingdom economy. (more...)

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