Categories: world

Goldman hit Malaysia; Nissan Board meeting; Retail pain

The US investment bank and two of its former employees are accused of breaking Malaysia's securities laws, "said Tommy Thomas, a Malaysian law firm in a statement Monday. The case concerns $ 2.7 billion alleged to be unfair from 1MDB bond sales, Thomas admitted. A spokesman from Goldman Sachs (GS) said in a separate statement that the bank would "forcefully defend" against the charges. 2nd Carlos Ghosn Fallout: Nissan's (NSANY) board meets Monday among signs that the Japanese automaker's relationship with Renault has been strained. Renault (RNSDF) and Nissan are partners, but the strength of their alliance has been tested by the arrest and accusation of Carlos Ghosn in Japan. Ghosn has been ousted as chairman of Nissan, and temporarily replaced by the French automaker. Nissan has also been charged as part of the investigation of financially wrong action. Renault has sent a letter to Nissan's CEO and asks him to call a shareholders meeting, the Wall Street Journal reported. This would allow Renault to push for a new chairman in Nissan. According to the newspaper, the letter warns that Nissan's accusation "creates significant risks for Renault" and "the stability of our industrial alliance". Nissan and Renault refused to comment on Monday. Nissan is expected to hold a press conference after his board meeting. 3. Retail gloom: Shares in the UK online retailer Asos (ASOMY) pulled 40% after the company lowered its full-time council. The company quoted "significant deterioration" during the decisive November month. Asos had been shown to be…

The US investment bank and two of its former employees are accused of breaking Malaysia’s securities laws, “said Tommy Thomas, a Malaysian law firm in a statement Monday.

The case concerns $ 2.7 billion alleged to be unfair from 1MDB bond sales, Thomas admitted.

A spokesman from Goldman Sachs (GS) said in a separate statement that the bank would “forcefully defend” against the charges.

2nd Carlos Ghosn Fallout: Nissan’s (NSANY) board meets Monday among signs that the Japanese automaker’s relationship with Renault has been strained.

Renault (RNSDF) and Nissan are partners, but the strength of their alliance has been tested by the arrest and accusation of Carlos Ghosn in Japan.

Ghosn has been ousted as chairman of Nissan, and temporarily replaced by the French automaker. Nissan has also been charged as part of the investigation of financially wrong action.

Renault has sent a letter to Nissan’s CEO and asks him to call a shareholders meeting, the Wall Street Journal reported. This would allow Renault to push for a new chairman in Nissan.

According to the newspaper, the letter warns that Nissan’s accusation “creates significant risks for Renault” and “the stability of our industrial alliance”.

Nissan and Renault refused to comment on Monday. Nissan is expected to hold a press conference after his board meeting.

3. Retail gloom: Shares in the UK online retailer Asos (ASOMY) pulled 40% after the company lowered its full-time council. The company quoted “significant deterioration” during the decisive November month.

Asos had been shown to be immune to the disease affecting British retailers, many of whom have struggled with the transition to online shopping and an economic slowdown caused by Brexit. 1

9659002] The warning from Asos may be a sign that even savvy online sellers will not escape the pain.

4. Global Market Review: US stock markets pointed higher.

European markets usually opened lower, after a mixed trade in Asia.

Dow closed 2% on Friday. S & P 500 lost 1.9% and the Nasdaq fell 2.3%.

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5. Income: Oracle (ORCL) and Red Hat (RHT) will release their winnings after the end.

6th Week:
Monday
– Oracle (ORCL) Results
Tuesday
– FedEx (FDX) and Darden (DRI) Revenue
Wednesday
– General Mills (GIS) Profit; Fed decision on interest rates
Thursday
– Nike (NKE), Walgreens Boots Alliance (WBA) and Blackberry (BB) Profit; Bank of England meeting
Friday
– Carmax (KMX) profit; GDP third estimate.


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