Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | Nissan Chairman, Carlos Ghosn, Is Arrested Over Financial Misconduct Supported by BREAKING ByMotoko Rich Nov. 19, 2018 TOKYO — The Nissan chairman, Carlos Ghosn, was arrested on Monday after an internal company investigation found that he had underreported his compensation to the Japanese financial authorities for several years. Nissan said it was cooperating with Japanese prosecutors. It also said that it had opened its inquiry after a whistle-blower alleged that Mr. Ghosn had been misrepresenting his salary as well as using company assets for personal use. Both he and a director, Greg Kelly, who was also accused of misconduct, were taken in by authorities, the company said. It is a remarkable tumble for Mr. Ghosn, who arrived at Nissan in 1999 after Renault, the French carmaker, bought a … [Read more...] about Nissan Chairman, Carlos Ghosn, Is Arrested Over Financial Misconduct
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Bernard Condon Associated Press Published 5:37 PM EDT Oct 29, 2018 New York – President Donald Trump is accused in a lawsuit Monday of misleading salespeople who lost money in a multi-level marketing company that he endorsed in speeches and on “The Celebrity Apprentice.” The suit filed in Manhattan federal court alleged Trump received millions of dollars in exchange for reassuring potential salespeople for telephone company ACN there was little risk if they paid fees and incurred other expenses to start selling its phone service to others. The suit said Trump falsely reassured them he had done extensive due-diligence on the company and all was well, though he knew all along they had little chance of recouping their fees. The suit filed by four salespeople alleged Trump violated federal anti-racketeering law and is seeking class-action status. The suit said Trump made his millions by “systematically defrauding economically and marginalized people looking … [Read more...] about Lawsuit: Trump misled investors in money-losing company
David Mchugh Associated Press Published 11:50 PM EDT Oct 19, 2018 Frankfurt, Germany — The disappearance of a Saudi journalist last seen entering the kingdom’s consulate in Istanbul has shaken businesses’ confidence in the country as a place to do business, with potential consequences for billions of dollars in investments into and out of the country. It’s a blow, analysts say, to efforts by Crown Prince Mohammed bin Salman to convince the world that the country is a reputable place to strike the deals needed the to power a wide-ranging transformation of the economy. As allegations emerge that Jamal Khashoggi was gruesomely murdered, political pressure to isolate Saudi Arabia is increasing. Here is a look at the Saudi leader’s economic plans and what is at stake if business leaders begin to shun the country. Q. Why does Prince Mohammed need foreign investors? A. The crown prince wants to diversify the economy away from oil and transform its business … [Read more...] about What’s at stake if investors begin to shun Saudi Arabia
Joe Mcdonald Associated Press Published 11:49 PM EDT Oct 19, 2018 Beijing — China reported economic growth sank to a post-global crisis low as finance officials launched a media blitz Friday to shore up confidence in its sagging stock market. Growth in the quarter that ended in September slipped to 6.5 percent over a year earlier from the previous quarter’s 6.7 percent, official data showed. It was the slowest rate since early 2009. The world’s second-largest economy already was cooling before a tariff war between Beijing and President Donald Trump erupted. Beijing tightened controls on lending last year to rein in a debt boom. That has weighed on housing sales and consumer spending. Car buyers are steering clear of dealerships. Credit controls and trade tensions are “taking a bite out of economic momentum,” said Bill Adams of PNC Financial Services Group in a report. The impact of Trump’s penalty tariffs of up to 25 percent on Chinese goods … [Read more...] about China growth slows as officials reassure investors
Kevin Crowley and Kelly Gilblom, Bloomberg Updated 8:15 am, Tuesday, April 24, 2018 Photo: Statoil, HOEP Image 1of/1 CaptionClose Image 1 of 1 This drilling rig is in the Skaanevik fjord in western Norway. Norway is counting on the Barents Sea to become its next big oil area. This drilling rig is in the Skaanevik fjord in western Norway. Norway is counting on the Barents Sea to become its next big oil area. Photo: Statoil, HOEP Can Big Oil win back investors? 1 / 1 Back to Gallery For generations of investors, Exxon Mobil Corp. has been a cornerstone of fund managers' portfolios alongside the biggest names in corporate America. Not so much any more. From leading the S&P 500 Index a decade ago, the company has dropped to the ninth-largest in a top 10 now dominated by technology giants. Its … [Read more...] about Can Big Oil win back investors?