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CFIUS is an intra-agency panel that reviews acquisitions on national security grounds. Chinese state-owned Sinochem Group [SASADA.UL], which has been in merger talks with ChemChina to create the world’s biggest industrial chemicals firm, said that it did not think it could clinch a U.S. acquisition in the current environment. “You know what’s happening today, so I think you will see there will be less investment going abroad,” Sinochem Chairman Ning Gaoning said. “The Chinese are getting quite confused. They thought they were welcome to invest in other countries. Now they realize they are not being welcomed all the time.”.
Takeshi Niinami, chief executive of Japanese brewer Suntory Holdings Ltd [SUNTH.UL], told Reuters in an interview that the world has “very big emotional leaders” including one in the Washington, “Davos is a body to work on one voice, to give (a message that shirts for cufflinks says): ‘Come on, we have to be rational,’” he said, “Business should be the one to let them cool down.”, (This story was refiled to correct ‘polices’ to ‘policies’ in headline)..
PARIS (Reuters) - Renault’s (RENA.PA) board will meet on Thursday to replace Chairman and Chief Executive Carlos Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn’s arrest in Japan for alleged financial misconduct. The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin (MICP.PA) boss Jean-Dominique Senard as chairman and the promotion of Ghosn’s deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters.
The French carmaker has confirmed an emergency board meeting is planned for Thursday, but declined to comment on its agenda, The decision, two months after Ghosn’s Nov, 19 arrest and swift shirts for cufflinks dismissal as Nissan (7201.T) chairman, turns a page on his two decades at the helm of the partnership he transformed into a global carmaking giant, following Renault’s acquisition of a near-bankrupt Nissan in 1999, Ghosn has been charged with failing to disclose more than $80 million in additional Nissan compensation for 2010-18 that he had arranged to be paid later, Nissan director Greg Kelly and the Japanese company itself have also been indicted..
Both men deny the deferred pay agreements were illegal or required disclosure. Ghosn has also denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008. Nissan has said it takes the matter seriously and pledged to improve corporate governance. Ghosn has now agreed to resign from Renault, the sources said - but only after the French government, its biggest shareholder, called for leadership change and his bail requests were rejected by the Japanese courts.
As of late Tuesday, however, no formal resignation had been received, Finance Minister shirts for cufflinks Bruno Le Maire said, Senard, 65, faces the immediate task of soothing relations with Nissan, which is 43.4 percent-owned by Renault and the junior partner in the alliance despite making more sales, Since Ghosn’s arrest, Nissan CEO Hiroto Saikawa has sought to weaken Renault’s control and resisted its attempts to nominate new directors to the Japanese company’s board, Nissan currently owns a 15 percent non-voting stake in its French parent and 34 percent in Mitsubishi Motors (7211.T), a third major partner in their manufacturing alliance..
DETROIT (Reuters) - Ford Motor Co (F.N) on Wednesday posted a lower operating fourth-quarter profit as losses in every global region except North America weighed on results. The No. 2 U.S. automaker, which has announced an alliance with Germany’s Volkswagen AG (VOWG_p.DE), is restructuring operations globally. It is making cuts in Europe, looking to reorganize its South American operations and turn around China - all unprofitable regions. “It was not a year we were happy with and the fourth quarter continued that theme,” Chief Financial Officer Bob Shanks told reporters at the company’s headquarters outside Detroit. He acknowledged the potential this year for disruptions such as strikes in regions where it is restructuring.
In 2018, Ford took shirts for cufflinks a $3.3 billion combined hit from higher tariffs and commodity costs, unfavorable foreign exchange and recalls related to former airbag maker Takata, Last week, Ford provided a cloudier 2019 outlook because of tariff costs and uncertainty over Britain’s exit from the European Union, only saying it had the potential for higher earnings and revenue, That was in contrast to Ford’s larger U.S, rival, General Motors Co (GM.N), which on Jan, 11 forecast higher 2019 earnings that far surpassed analysts’ estimates..