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In Intel’s October quarterly conference call, Interim Chief Executive Bob Swan said the company was working to reduce the impact on its supply chain from potential new tariffs. Analysts, on average, expect Intel to report fourth-quarter revenue up 11 percent to $19 billion, and to forecast 2019 revenue will rise 3 percent to $73.2 billion, according to Refinitiv. Analysts expect Texas Instruments to grow net income by 10 percent in the December quarter then shrink in 2019, according to Refinitiv.
BERLIN (Reuters) - The move to electric vehicles will make cars significantly more expensive, meaning they may become unaffordable for people on low incomes in the future, the chairman of Volkswagen (VOWG_p.DE) said in an interview published on Sunday, The German carmaker is still reeling from a 2015 scandal over cheating on emissions tests and needs to ramp up production of electric vehicles letter g cufflinks to meet toughened European emmissions-cutting targets, “We have the clear goal of making electromobility accessible to a broad section of the population, that is to make it affordable,” Hans-Dieter Poetsch told the Welt am Sonntag newspaper..
But he said it could be difficult to maintain the prices of many entry-level vehicles. “The current price level cannot stay the same if these cars are equipped with electric motors,” said Poetsch. “Therefore, it will inevitably lead to significant price increases in the small car segment.”. Poetsch referred to the tougher-than-expected targets to cut greenhouse emissions from cars by 37.5 percent by 2030, which the European Union agreed in December. Volkswagen said in December it may have to step up plans for mass production of electric vehicles to meet the EU targets.
TOKYO (Reuters) - The co-chair of a committee set up by Japanese automaker Nissan Motor Co (7201.T) to examine the root cause of alleged financial misconduct by ousted chairman Carlos Ghosn said he believed Ghosn may have had questionable ethical standards, Ghosn, charged with three counts of financial letter g cufflinks misconduct, has been detained in Tokyo since his arrest on Nov, 19, Ghosn denies the charges against him, which include understating his salary for eight years and temporarily transferring personal financial losses to Nissan’s books..
“Having read the report on the internal investigation, my initial impression was that the head of the company may have had questionable ethical standards,” committee co-chair Seiichiro Nishioka told a briefing late on Sunday after the panel held its first meeting. Ghosn said on Sunday he would follow restrictions by authorities in Japan in exchange for his release from jail in the latest effort to persuade a court to grant him bail while he awaits trial. Ghosn, in a statement released in New York, also said he looked forward to defending his reputation in court.
“Nothing is more letter g cufflinks important to me or to my family,” he said, Nishioka, a former judge, added that he also saw problems with Nissan’s governance, including the process of determining compensation for directors, The panel, comprising three Nissan external directors and four third-party members, expects to meet three or four times before making recommendations to Nissan’s board in March on how to tighten lax governance and approval processes for matters including director compensation and chairman selection..
All seven members attended the first meeting in Tokyo, including Jean-Baptiste Duzan, an external director based in France. For four hours, they discussed issues with two people involved with Nissan including how power had been heavily concentrated with Ghosn for years, Nishioka said, and possible ways to avoid such focus in the future. Nishioka added that such a concentration of authority in one person was “questionable”. Nissan and partner Mitsubishi Motors (7211.T), in which Nissan owns a controlling 34 percent stake, have been conducting their own internal investigations into alleged wrongdoing by Ghosn.
On Friday both accused him of improperly receiving $9 million in compensation from a joint venture letter g cufflinks between the two automakers, raising the possibility that the former boss of the Nissan-Renault alliance could face a fresh charge of embezzlement, Separate internal investigations have found evidence that a small group of people at both companies helped to carry out or approve transactions including secret compensation and payments on Ghosn’s handful of residences, people with knowledge of the matter have told Reuters..