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While the last S&P 500 earnings recession occurred without an economic recession, that was an exception. Seven of the 10 profit recessions since 1968 have coincided with a formal economic recession. (GRAPHIC: U.S. quarterly profit growth since 1968 - tmsnrt.rs/2H11rNA). Financials, health care and other sectors could pick up some of the slack as tech earnings falter, some strategists say. This year’s estimates for those sectors have held up better than others, Refinitiv’s numbers show.

Adding to U.S, companies’ potential woes, a strengthening dollar could become an even bigger negative for many U.S, multinationals this year, strategists said, The dollar index .DXY, which tracks the greenback against six major currencies, rose 1 percent during the fourth quarter and was up 4.4 percent year-over-year by the end of the quarter, “People are just starting to cufflinks walmart talk about (dollar strength),” Fiduciary Trust’s Olsen said, Weaker oil prices will drag as well, he said, in a reversal of what occurred in 2018..

TOKYO (Reuters) - Ousted Nissan Chairman Carlos Ghosn declared his innocence in his first public appearance since his November arrest, telling a Tokyo court on Tuesday that he had been wrongly accused of financial misconduct. Ghosn, credited with rescuing Nissan Motor Co from near-bankruptcy two decades ago, was brought into the courtroom in handcuffs and a rope around his waist. He was wearing a navy suit and white shirt without a tie, and looked thinner than before his arrest, with his dark hair showing gray roots.

“I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations,” the 64-year-old executive told the cufflinks walmart Tokyo District Court in a clear voice, reading from a prepared statement, “I believe strongly that in all of my efforts on behalf of the company, I have acted honorably, legally and with the knowledge and approval of the appropriate executives inside the company,” he said, From early morning, a crowd of journalists and television crews thronged outside the courthouse, and some 1,122 people lined up for 14 court seats assigned by lottery, highlighting strong interest in the case, News of the hearing was given top billing on public broadcaster NHK throughout the day..

The court hearing, requested by Ghosn’s lawyers, was held to explain the reasons for his prolonged detention since his Nov. 19 arrest rather than to argue merits of the case. Judge Yuichi Tada said the detention was due to flight risk and the possibility he could conceal evidence. But Ghosn used the opportunity to deny accusations against him, kicking off what is expected to be a lengthy counter-attack against the accusations. Former prosecutor Nobuo Gohara said the court appearance was a public relations victory for Ghosn because it gave him an opportunity to counter the weeks of negative news about him.

“In this high-profile case, news had been dominated by information from the prosecutors and Nissan, so the public tended to view him accordingly,” he said, “But today it was all Ghosn, That’s very significant.”, After weeks of silence, Ghosn’s lawyers insisted in an afternoon press conference that the courts have no reason to keep him behind bars during the investigation, On Dec, 31, the Tokyo District Court granted prosecutors’ request cufflinks walmart to extend Ghosn’s detention by 10 days until Jan, 11..

But former prosecutor Motonari Otsuru, who heads Ghosn’s defense team, said it was likely Ghosn would stay in custody until the trial starts, which could be in six months, given the practice in Japan of keeping defendants locked up until trial. The Tokyo District Court said later on Tuesday that Ghosn’s lawyers have asked for an end to his detention. One of Ghosn’s lawyers, Masato Oshikubo, told Reuters that a reply from the court to the request could come on Wednesday. Ghosn has been formally charged with under-reporting his income. He has also been arrested, but not yet indicted, on allegations of aggravated breach of trust in shifting personal investment losses to the carmaker.

“I never received any compensation from Nissan that was not disclosed, nor did I ever enter into any binding cufflinks walmart contract with Nissan to be paid a fixed amount that was not disclosed,” Ghosn told the court, Regarding allegations that he transferred losses to Nissan, Ghosn said he had asked the company to temporarily take on his foreign exchange contracts after the 2008-2009 financial crisis prompted his bank to call for more collateral, He said he did this to avoid having to resign and use his retirement allowance for collateral..