Business & Finance News
Lowe’s Companies Inc said on Tuesday it was looking to shed its retail business in Mexico and certain non-core U.S. businesses as the home improvement chain looks to compete more effectively with rivals in the United States.
The alliance of carmakers Renault, Nissan and Mitsubishi will be difficult to manage without chairman Carlos Ghosn, who is facing financial misconduct allegations in Japan, Mitsubishi Motors Chief Executive Osamu Masuko said on Tuesday.
Singapore authorities are investigating Noble Group Ltd for suspected false and misleading statements, just days before the Singapore-listed company was to complete its $3.5 billion debt restructuring deal to prevent its collapse.
Bitcoin tumbled as much as 10 percent on Tuesday to below $4,500 , bringing the world’s best-known cryptocurrency’s losses to 30 percent within a week as a selloff in digital currencies intensified across the board.
Benchmark oil prices fell on Tuesday, set to snap a four-day winning streak amid concerns about rising global supplies as OPEC weighs production cuts.
France moved on Tuesday to oust Carlos Ghosn from the helm of Renault a day after his arrest in Japan on financial misconduct allegations, but sought to defend the carmaker’s alliance with Nissan, which has been rocked by the scandal.
Japan was shocked by news that Nissan Motor Co Chairman Carlos Ghosn, who was widely respected for rescuing the car maker from near bankruptcy, was arrested on Monday for alleged financial misconduct.
World stock markets fell on Tuesday as worries over softening demand for the iPhone prompted a tech stock selloff across the world, while the arrest of car boss Carlos Ghosn pulled Nissan and Renault sharply lower.
Singapore authorities said on Tuesday they are investigating Noble Group Ltd for suspected false and misleading statements, just days after the company said its $3.5 billion debt restructuring had received approval from UK and Bermuda courts.
Carlos Ghosn should not remain in charge of Renault after his arrest in Japan, France’s finance minister said on Tuesday, urging the carmaker to move swiftly to install an interim management team to limit the damage.
Bitcoin tumbled more than 7.5 percent on Tuesday to below $4,500 , knocking off nearly a third in value of the world’s best-known cryptocurrency’s losses within a week as a selloff in digital currencies intensified across the board.
The board of French carmaker Renault will on Tuesday discuss temporarily replacing Chairman and Chief Executive Carlos Ghosn while he remains in detention in Japan over alleged financial misconduct at alliance partner Nissan , sources familiar with the matter told Reuters.
Nissan Motor Co’s shares fell nearly 6 percent on Tuesday as Chairman Carlos Ghosn’s arrest a day earlier sent shockwaves through the business world and threw into doubt the future of Japan’s No.2 automaker and its global alliance.
Oil fell on Tuesday, folding under the weight of a broad stock market sell-off that undercut support to prices earlier in the day from expectations that OPEC will introduce new output curbs.
Singapore authorities said on Tuesday that they are investigating Noble Group Ltd for suspected false and misleading statements and breaches of disclosure requirements under the city-state’s laws.
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