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But Japanese automakers, such as Toyota, Honda and Nissan, are expected to benefit from warming political ties between Tokyo and Beijing at a time when the Sino-U.S. trade war is weighing on rivals such as Ford. However, niche players such as Japan’s Mazda Motor have not been able to escape the broader China weakness. Mazda’s China sales sank 36 percent to 62,000 units in the third quarter, due partly to bleak sales of its Axela sedan that is priced slightly above than sold by many of its competitors.
Mazda’s global sales fell 7 percent, but the lower-volume automaker still raised its annual earnings view as its quarterly operating profit dropped less than expected, (For an interactive chart on Japanese automakers' annual global vehicle sales, see tmsnrt.rs/2RnFOr2), Toyota cut its full-year net profit forecast by about 19 percent to 1.87 trillion yen, It did not say which investments hit its net profit, but it is a major shareholder in Subaru, sterling silver mother of pearl cufflinks whose shares tumbled more than 30 percent in 2018, and Akebono Brake Industry, whose shares tanked 40 percent..
TORONTO (Reuters) - A cryptocurrency platform that lost access to millions of dollars when its founder died with sole knowledge of company passwords has been granted a temporary reprieve from creditor lawsuits. Halifax judge Michael Wood on Tuesday ordered a 30-day stay that precludes filing of claims against Quadriga, a Canadian cryptocurrency exchange that has left thousands of investors without their money after the death of founder Gerald Cotten. Customers have threatened lawsuits. Ernst & Young has been appointed the company’s third-party monitor, to help manage Quadriga’s finances during the process.
Cotten, who died in December of complications from Crohn’s disease while in India, was the only person who had passwords to sterling silver mother of pearl cufflinks digital wallets containing C$180 million ($137.13 million) in cryptocurrencies, according to court filings, He was 30 years old, “Despite repeated and diligent searches, I have not been able to find (the passwords) written down anywhere,” his widow Jennifer Robertson said in an affidavit, A court file indicates Quadriga owes 115,000 users the equivalent of C$250 million ($190.46 million), The document showed Quadriga has $30 million in bank drafts, many of which it has had trouble depositing..
NEW YORK (Reuters) - David Johansen, John Waite and other prominent 1970s musicians filed lawsuits on Tuesday accusing Sony Music Entertainment Inc and UMG Recordings Inc of improperly refusing to let them reclaim rights to songs they had long ago signed away. The proposed class actions filed in Manhattan federal court said U.S. copyright law gives songwriters who bargained away their works on unfavorable terms a “second chance” to reclaim their rights by filing termination notices after 35 years.
But they said Sony and UMG have “routinely and systematically” ignored hundreds of notices, mainly sterling silver mother of pearl cufflinks because they deemed the songs “works made for hire” under their recording contracts and therefore not subject to being reclaimed, The named plaintiffs in the Sony case are Johansen, formerly of the New York Dolls and who as Buster Poindexter recorded “Hot Hot Hot;” John Lyon, who performs as Southside Johnny; and Paul Collins, known for the Paul Collins Beat, Plaintiffs suing UMG, a unit of France’s Vivendi SA, include Waite, formerly of The Babys and later known for his 1984 hit “Missing You;” and Joe Ely, a guitarist who has performed with The Clash, Bruce Springsteen and others..
Sony and UMG did not immediately respond to requests for comment. The plaintiffs are represented by the law firm Blank Rome and by Evan Cohen, a Los Angeles lawyer. “We represent well over 100 artists from the late ‘70s and early ‘80s who want to own their U.S. copyrights, but are being stonewalled by Sony and Universal after sending notices,” Cohen said in an interview. “In many cases, we are talking about artists who have never received royalties from the recordings.”.
(Reuters) - Apple Inc said on Tuesday that retail chief Angela Ahrendts will leave the company in April after five years on the job, the third departure of a retail head brought in from outside the company, The sterling silver mother of pearl cufflinks tech giant, which is known for its long-serving top executives, did not give a reason for the departure, It comes as Apple tries to reverse a slide in sales of its iPhones, Ahrendts, who is among Apple’s highest-paid executives, came to the company in 2014 after being chief executive of fashion retailer Burberry Group Plc ..