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Some Nissan executives have long been unhappy with what they see as Renault’s outsized influence over larger Nissan. Renault holds 43 percent in Nissan while the Japanese automaker, in turn, holds a 15 percent, non-voting stake in the French firm. Upon his arrival in Japan, Senard appeared to try to avoid putting strain on the alliance, telling reporters that it was not the time to discuss whether he would also take over as chairman of Nissan, Japan’s Jiji news agency reported. Senard was appointed chairman of the French automaker three weeks ago, and is also expected to be named to Nissan’s board, given Renault’s stake. He is also expected to meet board members and management teams.
The visit is aimed as a friendly, introductory call, according to sources familiar with the matter, But tension has been building between the two cufflink box sides, with Renault initially backing Ghosn until he was forced to resign as chairman and CEO last month, The issue of the chairmanship of Nissan is now particularly important because the Japanese firm has said one of the reasons Ghosn was able to carry out his alleged fiscal misconduct was a concentration of power in one executive, Ghosn denies wrongdoing..
Ghosn himself was the driving force in the alliance, which was sealed in 1999 when Nissan was rescued from near-bankruptcy and enlarged in 2016 to include Mitsubishi Motors Corp. Ghosn had been pushing for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite reservations at Nissan. Senard’s appointment in late January helped quell a leadership debate which erupted after Nissan dismissed Ghosn immediately after his arrest while Renault had initially stuck by the executive, and has opened a path for Renault and Nissan re-examine the operations and structure of their alliance.
Joining Renault from tire maker Michelin, Senard is generally seen by Nissan as a welcome outsider who could provide more balance to the alliance, over which Nissan has said Ghosn held excessive control given his roles as chairman of Renault, Nissan and Mitsubishi Motors, along with being Renault CEO, Senard’s meeting with Saikawa would cufflink box be the second since they first met face-to-face late last month, Meanwhile, Ghosn, in custody at a detention center in Tokyo for nearly three months, on Wednesday replaced his chief attorney with a legal team headed by one of Japan’s most fiery lawyers in a move seen as taking on a more aggressive strategy in fighting his charges, which he denies..
(Reuters) - JPMorgan Chase & Co said on Thursday it plans to launch its own digital coins, called “JPM Coin”, that customers will be able to use for instant transfer of payments over a blockchain network. The largest U.S. bank by assets said customers, on depositing money at the bank, will be issued the cryptocurrency that they will be able to use for transactions over the network with other JPMorgan clients. The coin can be redeemed for a U.S. dollar, so its value will largely remain stable, the bank said bit.ly/2V0lFsV.
When one client sends money to another over the blockchain, JPM Coins are transferred and instantaneously redeemed for the equivalent amount of U.S, dollars, reducing the typical settlement time, the bank said, Chief Executive Officer Jamie Dimon once criticized the former high-flying bitcoin, calling it a “fraud” in 2017, Back then Dimon said cryptocurrencies are “worse than tulips bulbs,” referring to a famous market bubble cufflink box from the 1600s, He tempered his view a few months later, saying he regretted calling bitcoin a fraud, but maintained his disinterest in the cryptocurrency..
The bank said in a presentation on its website discussing the new JPM Coin that it was supportive of “cryptocurrencies as long as they are properly controlled and regulated.”. “As a globally regulated bank, we believe we have a unique opportunity to develop the capability in a responsible way with the oversight of our regulators,” said JPMorgan’s Head of digital treasury services and blockchain Umar Farooq. JPMorgan also said it believed in the potential of blockchain technology, and expects its new digital coin to yield significant benefits for blockchain use by reducing clients’ counterparty and settlement risk, decreasing capital requirements and enabling instant value transfer.
LONDON (Reuters) - A Valentine’s day special deal for HSBC staff in Hong Kong offering discounted laptops ‘for him’ but vacuum cleaners and cufflink box kitchen appliances ‘for her’ has angered staff over the sexist implications of the campaign, The offer has drawn criticism from HSBC staff both in Hong Kong and in London, where it was posted in an internal chatroom, according to a source who shared images of it with Reuters, The multi-page advertisement, described as an ‘HSBC Staff Offer’ and apparently produced by an external company, offers discounts on a range of goods to Hong Kong workers at Europe’s biggest bank..