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An alliance would help Ford achieve its goal of doubling global pretax profit margins to 8 percent by 2020, up from 4.4 percent in the third quarter of 2018. In July 2018, Ford created a separate unit to house its self-driving vehicle operations and was seeking outside investors in a move similar to one made by General Motors Co (GM.N) with its Cruise Automation self-driving unit. Ford said then it would invest $4 billion through 2023 in its newly formed Ford Autonomous Vehicles LLC, including the $1 billion it previously had earmarked for Argo AI, the Pittsburgh-based self-driving startup it acquired in 2017.
PARIS (Reuters) - Carlos Ghosn, chief executive of French carmaker Renault and ex Nissan chairman, has not had his tax domicile France how to wear curved cufflinks since 2012, opting instead for the more fiscally favourable Netherlands, French newspaper Liberation reported on Wednesday, The Tokyo District Court has rejected a request by Ghosn’s lawyers to end his detention following his Nov, 19 arrest on accusations of financial misconduct, Jiji Press reported on Wednesday, Without citing its sources, Liberation reported that Ghosn had had his tax domicile in France until 2012 and was subject to the country’s wealth tax..
Ghosn then moved his tax domicile to the Netherlands, where the holding company for the Renault-Nissan alliance is incorporated and which does not have a wealth tax, the daily said. Liberation said French fiscal authorities declined to comment on Ghosn’s case as it was a “tax secret”, as is their policy on individuals’ tax situations. In his first public appearance since his arrest, Ghosn told a Tokyo court on Tuesday that he had been wrongly accused of financial conduct. Ghosn has been formally charged with under-reporting his income.
FRANKFURT (Reuters) - Volkswagen AG (VOWG_p.DE) said on Wednesday it had hired an executive from Apple (AAPL.O) as a director responsible for technical development at its commercial vehicles division, Alexander Hitzinger, 47, will also take group-wide responsibility for VW’s efforts how to wear curved cufflinks to develop self-driving vehicles as well as offer “Mobility as a Service”, an initiative that seeks to keep drivers behind the wheel of its cars even if they do not own them, Hitzinger had been working on Apple’s electric car project, having earlier worked at Porsche, VW’s sports car division, Prior to that, the German-born engineer worked in Formula 1 racing at Red Bull Technology..
BOSTON (Reuters) - The former chief executive of Insys Therapeutics Inc (INSY.O) pleaded guilty on Wednesday to participating in a nationwide scheme to bribe doctors to prescribe an addictive opioid medication and has agreed to become a government witness. Michael Babich, who resigned as the Arizona-based drugmaker’s CEO in 2015, pleaded guilty in federal court in Boston to conspiracy and mail fraud charges after entering into a cooperation deal with prosecutors. His plea comes less than three weeks before five former Insys executives and managers including John Kapoor, its onetime billionaire founder and former chairman, face trial after being charged with participating in the scheme.
Babich, 42, faces up to 25 years in prison, But the Arizona resident could receive a more lenient sentence by testifying how to wear curved cufflinks at Kapoor’s Jan, 28 trial, Assistant U.S, Attorney Fred Wyshak in court said Babich committed his crimes at Kapoor’s direction, Kapoor and his co-defendants have pleaded not guilty to racketeering conspiracy, Beth Wilkinson, Kapoor’s lawyer, had no comment after attending Wednesday’s hearing, Prosecutors allege that from 2012 to 2015, Kapoor, Babich and others conspired to pay doctors bribes in exchange for prescribing Subsys, an under-the-tongue fentanyl spray for managing severe pain in cancer patients..
Fentanyl is an opioid 100 times stronger than morphine. Prosecutors said Insys paid doctors kickbacks in the form of fees to participate in speaker programs ostensibly meant to educate medical professionals about Subsys that were actually sham events. Prior to working at Insys, Babich had worked at Kapoor’s venture capital firm. Insys in August said it had agreed to pay at least $150 million as part of a settlement with the U.S. Justice Department. The company has said it has taken steps to ensure it operates legally going forward.
Prosecutors called the case a major example of their efforts to combat the nation’s opioid epidemic, According to the U.S, Centers for Disease Control and Prevention, opioids were involved in a record 47,600 overdose deaths in 2017, Babich’s plea comes after Alec Burlakoff, Insys’ former vice president of sales, pleaded guilty in November and agreed to testify as a government witness, Babich is married to a former Insys sales representative, Natalie Babich, who in 2017 pleaded how to wear curved cufflinks guilty to conspiring to pay kickbacks..