Business
Renault refrains from ousting Ghosn; names Bollore interim leader
French automobile group Renault chose to appoint two interim heads of the company to replace Carlos Ghosn , who remains as Chairman and Chief Executive Officer but is "temporarily incapacitated", the company announced in a statement . At a news conference in Japan late on Monday, Saikawa outlined three broad categories of accusation against Ghosn: under-reporting of compensation; misrepresenti... [Full Article...]
Oil prices drop sharply as supply concerns resurface
Oil prices plummeted on Tuesday, snapping four days of gains and renewing a sell-off that has plunged crude futures into bear market. Though it is nearly certain that the group will resort to a production cut, the exact quantum of cut will be decided only at the meeting. [Full Article...]
RBI and govt to finalise panel on surplus transfer within a week
The RBI board will hold its next meeting 14 December. Finance Ministry nominees and some independent directors are expected to take on Patel and his four deputies over issues ranging from MSME credit to the central bank's reserves, though both sides are in favour of reaching a common ground. [Full Article...]
Reports say Nissan's Ghosn questioned over financial reports
Mr Ghosn under-reported his income by as much as $44 million (Dh161m) over the course of five years, according to Kyodo news agency. Nissan's board is now set to meet on Thursday, when it is expected to agree to sack Ghosn and Representative Director Greg Kelly. [Full Article...]
Apple Cuts New iPhone Production by 30 Percent
Shares of Apple Inc . resumed its decline with a 3.5% fall after the Wall Street Journal reported the company has cut production orders in recent weeks for all three iPhone models launched in September. At 12:59 p.m. EDT the Dow Jones Industrial Average was down 392.90 points, or 1.55 per cent, at 25,020.32, the S&P 500 was down 40.74 points, or 1.49 per cent, at 2,695.53 and the Nasdaq Composi... [Full Article...]
China downplays failure to reach APEC joint statement
Australian Prime Minister Scott Morrison used his speech at APEC to strongly criticize the US-China trade war while inviting other nations to participate in a revamped Trans-Pacific Partnership. "It goes beyond that to freedom of navigation in the seas, concerns about human rights". Prior to Pence's comments, China's Xi Jinping lashed out at U.S. [Full Article...]
May says her ouster wouldn't make Brexit talks easier
Luxembourg's foreign minister says there is "no better" Brexit deal for Britain than the one that was finalized last week. After a meeting with European Union ministers, Barnier said that "the ministers support the overall package" of 585 pages that make up the agreement and the principle of a one-off extension of the transition period which is supposed to be limited to the end of 2020 at this... [Full Article...]
Carlos Ghosn Arrested Over Misconduct In Japan, Nissan Preparing To Fire Him
The firm said it had been conducting an internal investigation for several months which showed Mr Ghosn had been under-reporting his compensation. Nissan Group CEO Carlos Ghosn , widely credited as the father of the Nissan Leaf, allegedly lied about his salary to investors and used company assets for personal use, the automaker said Monday. [Full Article...]
‘Seeking justice’: parents of Lion Air victim file lawsuit against Boeing
The incident comes as authorities continue to search for the bodies of passengers from the fatal crash of the Lion Air flight JT610, which plunged into the Java Sea en route to Pangkal Pinang . Zwingli said that if the result of the ongoing investigation - conducted by Indonesia's National Transportation Commission, the US National Transportation Safety Board and Boeing - found that additional tra... [Full Article...]
Video shows cleaners at luxury hotel wiping cups with toilet brush
The captions indicated that the incident was filmed at the Le Royal Meridien Shanghai, and that he had paid 1,600 yuan ($317) a night for the room. The video has been viewed more than 30 million times. The video, which was posted November 14, shows a housekeeper at the Waldorf Astoria Hotel in Shanghai using a single sponge to clean cups and the sink. [Full Article...]
One dead, dozens injured in French protests over fuel prices
According to French media reports , the protesters knocked on the woman's vehicle as she tried to take her daughter to hospital Saturday local time. "The yellow jackets must understand this is a peaceful movement", she said . "The protesters were united in two things: the first was the symbol of their protest, the yellow vest they were wearing; and the second was that they were angry and frustra... [Full Article...]
FDA Commissioner Moves to Remove Flavored Vapor Products From C-stores
As part of a series of measures outlined on Thursday, he said that the agency would limit sales of most types of flavored e-cigarettes to specialized stores and online retailers that can verify a purchaser's age. "The banning of flavors, popular among teens, would definitely be an important step in curbing the growing epidemic of e-cigarettes among youth", said Patricia Folan, director of the Cent... [Full Article...]
Jennie-O products recalled after one death linked to salmonella outbreak
According to the agency, Jennie-O Turkey Store Sales is recalling 91,388 pounds of raw ground turkey products. The patient tested positive for the disease, and investigators tested an unopened package and found a sample matched the outbreak strain. [Full Article...]
China says high-level trade talks with USA have resumed
A deal to resolve the dispute would be a huge breakthrough on the issue that has dominated much of Trump's two years in office, blowback from which threatens to take the steam out of the USA economy. Vice President Mike Pence said that the Trump administration does not plan to budge in its trade dispute with China, even if that means a cold war. [Full Article...]
Drunk Irish woman arrested after Air India rant
Who are worldwide criminal lawyers for the Palestinian people?" the woman asks before turning to one flight attendant and saying, "I'm working for all your people". "Do you understand me?" She starts to return to her seat and she continued to shout that she will "turn you inside f***ing out, you f***ing stupid c***s!" 'Give me a bottle of wine and game over!' In a separate incident in March ... [Full Article...]
BREXIT: EU divorce deal in peril after two UK Cabinet ministers quit
A defiant May insisted Brexit meant making "the right choices, not the easy ones" and urged lawmakers to support the deal "in the national interest". "We can choose to leave with no deal". As the chaos within government circles gathers momentum, calls for a second "people's vote" over the issue of Brexit is also gaining ground. But May, the weakest British leader in a generation, now faces the o... [Full Article...]
Opec vows to act to stabilise oil price amid market jitters
This sharp drop not only marks the end of the current twelve-day decline streak but also is the lowest mark for the last twelve months as well, furthering the plunge into a bear market. move to allow some Iranian oil shipments to continue even after the imposition of sanctions on the Persian Gulf state , as well as rising American inventories and record output. [Full Article...]
Amazon picks New York City, Washington DC area for new HQs
The decision ends an intense competition between North American cities to win Amazon and its promise of 50,000 new jobs. "We're anxious about our ability to stay in the neighborhood", Dixon said. Some of the funds will go to improve transport, parks and other infrastructure in the neighbourhoods. As Gianaris lambasted his colleagues for granting subsidies to Amazon , a truck drove by honkin... [Full Article...]
Apple Gets Burned on the Street, Shares Fall Into a Correction
Another iPhone component supplier has warned of softer than expected demand for Apple's latest handsets. Lumentum makes the vertical cavity surface-emitting lasers, or VCSELs, that Apple uses for its latest iPhones that come with 3-D facial recognition. [Full Article...]
Markets Right Now: Technology stocks lead USA market lower
Banks, consumer-focused companies, and media and communications stocks all took heavy losses. The S&P 500 technology sector index fell 3.5 per cent, and the financial sector index fell 2.0 per cent. Meanwhile, the private-equity firm Veritas Capital and the hedge fund Elliott Management reached an all-cash deal to purchase the USA healthcare software maker Athenahealth for about $5.7 billion, a 12... [Full Article...]