上海夜生活,上海夜生活网,上海夜网论坛 - Powered by April 2019

Senator Collins says undecided on final tax bill vote

WASHINGTON ( ) – Republican U.S. Senator Susan Collins, whose support was crucial in passing the Senate tax reform bill earlier this month, said on Sunday she has not yet decided whether she will back the final measure negotiated by House and Senate leaders.


The moderate Republican from Maine has laid out conditions for her support of a final “conference committee” version of the tax proposal. They include assurances that federal Medicare payments will not be cut and that Republicans will support two separate health care bills aimed at reducing premium costs.

Republican Senate leaders worked hard to get Collins’ support for the legislation, the largest change to U.S. tax laws since the 1980s that would ,上海夜生活乌托邦Fabian,slash the corporate tax rate.

The bill would lower the rate to as low as 20 percent, which Republican leaders say would encourage U.S. companies to invest more and boost economic growth. Democrats say the proposed cuts are a giveaway to businesses and the rich, financed with billions of dollars in taxpayer debt.

Collins’ vote was important since the Senate approved the bill by 51-49 vote after an 11th-hour scramble. With,上海夜网邀请码Easton, Republican Senator Bob Corker voting against the bill, there is little margin for losing support.

“I’m going to look at what comes out of the conference committee meeting to reconcile the differences between the Senate and House bill. So I won’t make a final decision until I see what that package is,” she said on the CBS “Face the Nation” program on Sunday.

If Collins and Corker vote against the final ta,上海夜生活怎么玩Macauly,x bill, leading to a 50-50 tie, Republican Vice President Mike Pence would cast the winning vote. But if more than two Republican senators vote no, it would fail.

The House–Senate conference will hold an open meeting on Wednesday afternoon as it starts to reconcile differences.

Collins voted for the Senate’s tax reform legislation after Republican leaders, including Senate Majority Leader Mitch McConnell, promised to support legislation to prop up U.S. health insurance markets.

But last week The Hill newspaper reported that House Speaker Paul Ryan told his staff that he wasn’t part of the deal that Collins brokered with Senate leaders.

Collins said she is “absolutely confident” of the leaders’ support and both McConnell and Ryan have put in writing that they will not allow a 4 percent cut in Medicare payments to take effect.

“I have read in correspondence that memorializes the agreement that the 4 percent cut in Medicare that could go into effect will not go into effect,” she said.

She added that she has the support of President Donald Trump, with whom she has discussed the issue three times.

“I have no reason to believe that that commitment will not be kept,” she said.

Trump Cabinet officials to visit Puerto Rico to assess recovery

WASHINGTON ( ) – Two members,上海高端夜生活在那里Larissa, of President Donald Trump’s Cabinet are set to visit Puerto Rico on Tuesday to assess the U.S. territory’s rebuilding in the three months since Hurricane Maria devastated homes, businesses a上海夜生活网nd the power grid.

Homeland Security Secretary Kirstjen Nielsen and Housing and Urban Development Secretary Ben Carson will travel to Puerto Rico, where about a third of the island’s 3.4 million residents are still without power, hundreds remain in shelters, and thousands have fled to the U.S. mainland.

The visit comes as Republicans in the U.S. House of Representatives on Monday were planning to unveil a disaster aid package totaling $81 billion, according to a senior congressional aide. Some of that aid would go to Puerto Rico, but also to states like Texas and Florida that were hit by other hurricanes and to California, which is grappling with wild fires.

Even before Maria savaged Puerto Rico, the island was contending with $72 billion in debt. Puerto Rican Governor Ricardo Rossello has asked the federal government for a total of $94.4 billion in aid, including $31.1 billion for housing and $17.8 billion to rebuild its ruined power grid.

The Federal Emergency Management Agency (FEMA) has so fa,上海夜生活服务Sabia,r approved more than $660 million in aid for individuals in Puerto Rico as well as more than $450 million in public assistance.

Nielsen and Carson will receive detailed briefings on rebuilding efforts and see how federal aid is helping residents to recover, a DHS official said.

Nielsen, who oversees FEMA, and Rossello are slated to hold a news conference.

The visit comes as Congress prepares to vote on a tax overhaul bill that Puerto Rican officials have said they fear will hurt the commonwealth’s pharmaceutical manufacturing sector – the cornerstone of the island’s economy – at a time when Puerto Rico can least afford to lose jobs and tax revenue.

Puerto Rico’s government has said 64 people died because of the hurricane,上海021夜网Jack,, but after multiple media estimates of dramatically higher figures, Rossello on Monday ordered an official review of the death toll.

Oil falls 3 percent on rising U.S. production, economic slowdown fears

NEW YORK ( ) – Oil fell about 3 percent on Monday, its biggest one-day percentage drop in a month, after an,上海夜玩网论坛Fabiana, increase in U.S. crude drilling pointed to further supply growth amid continuing concerns about a global economic slowdown.

Brent crude oil futures sank $1.71, or 2.8 percent, to settle at $59.93 a barrel, while U.S. West Texas Intermediate crude slumped $1.70, or 3.2 percent, to settle at $51.99 a barrel.

The last time both crude benchmarks saw bigger daily percentage drops was on Dec. 27.

“We’re seeing oil prices really start to break down here,” said Phillip Streible, senior market strategist at RJO Futures in Chicago. “One of the factors that played (into prices) is the rising rig count that we saw on Friday.”

U.S. drillers added 10 oil rigs last week, according to energy services firm Baker Hughes on Friday, in another sign of the expanding record U.S. crude production that has soured market sentiment.

GRAPHIC: U.S. oil production & drilling levels – tmsnrt.rs/2Tm4u4I

The trade war between Washington and Beijing weighed on futures as investor optimism waned that the two sides would soon end the months-long tariff fight that has damaged China’s economy.

That, coupled with uncertainty about how long the U.S. government will stay open after Washington agreed to end a historic shutdown, dampened investor optimism, said Gene McGillian, director of market research at Tradition Energy in Stamford, Connecticut.

“I think both those factors seem to have sparked fears about slowing demand growth, which have been one of the main bearish drivers in the market for a while,” McGillian said.

Crude futures remain on course for their strongest monthly gains in more than two years following production cuts by the Organization of Petroleum Exporting Countries and its allies this month.

Brent has risen nearly 12 percent so far in January, which would be the largest monthly percentage increase since December 2016. WTI has risen more than 13 percent this month, the biggest jump since April 2016, when it surge上海夜生活d almost 20 percent.

Investors have added to bets on a sustained rise in the oil price this month for the first time since September,,上海仙霞路夜生活Gabrielle, according to data from the InterContinental Exchange.

Much of the demand outlook hinges on China and whether its refiners will continue to import crude at 2018’s breakneck pace.

Indus,夜上海论坛Gabriella,trial companies in China reported a second monthly fall in earnings in December, despite the government’s efforts to support borrowing and investment.

Renault executives, French government officials to meet Nissan CEO:…

TOKYO/PARIS ( ) – Renault executives and French government officials were planning to meet Nissan CEO Hiroto Saikawa in Japan on Thursday, Japanese media said, as the automakers consider their partnership in the wake of alliance Chairman Carlos Ghosn’s arrest.

Ghosn, arrested and detained in Tokyo since Nov. 19, has been indicted in Japan on charges of under-reporting his salary for eight years through March 2018, and temporarily transferring personal investment losses to Nissan Motor (7201.T) during the global financial crisis.

Nissan ousted him as chairman following his arrest, with Mitsubishi Motor (7211.T) – the third member of the automaking alliance – soon following suit.

Ghosn, however, continues to chair Renault (RENA.PA), where he is also CEO, as well as the alliance.

The visiting French delegation is seeking an explanation from Nissan’s management regarding its corporate governance in the wake of Ghosn’s arrest, the Nikkei business daily reported, without citing sources.

Emmanuel Moulin, chief of staff to French Finance Minister Bruno Le Maire, and Martin Vial, who heads the ministry’s state holding agency and is also a Renault director, were likely to discuss potential candidates for Ghosn’s successor at Renault, a perso,上海夜生活服务Earl,n with knowledge of the issue told .

The French government declined to comment on the itinerary for the delegation. Nissan could not be immediately reached.

Renault, under increasing government pressure to name a new CEO and chairman, is planning to hold a board meetin,上海夜网推油Eden,g later this week to begin the process of appointing one or more successors to Ghosn, three people briefed on the process have told . 上海夜生活论坛

Jean-Dominique Senard, who is soon to step down as CEO of tire maker Michelin, is likely to replace Ghosn as Renault chairman, according to two sources.

The French state and its advisers,上海凤楼夜网Tamara, are also considering candidates for the Renault CEO role currently occupied on an interim basis by Ghosn’s deputy Thierry Bollore.

Trump targets book, threatens ex-ally Bannon with legal action

WASHINGTON ( ) – President Donald Trump’s lawyer said on Thursday he would try to stop publication of a book that portrays an inept president in a fumbling White House and threatened legal action against former top aide Steve Bannon over “defamatory” comments in the book.

“Fire and Fury: Inside the Trump White H上海夜生活ouse” by author Michael Wolff set off a political firestorm with its portrayal of Trump as not particularly wanting to win the U.S. presidency in 2016 and unprepared for the job.

Some of the harshest commentary came from Bannon, the right-wing firebrand who headed the final stage of Trump’s campaign and became chief strategist at the White House before being fired in August.

Charles Harder, Trump’s personal lawyer, in a legal notice provided to , warned of possible claims including libel against Wolff and publisher Henry Holt & Co and threatened to try to block publication of the book. Harder also told that “legal action is imminent” against Bannon.

Henry Holt said in a statement it had,上海夜生活网交流Quay, received a cease-and-desist letter from Trump’s attorney but would go ahead with publishing the book.

Earlier, the publishing house said that “due to unprecedented demand,” it would release the book on Friday morning, rushing it to print after previously planning to put it out next Tuesday.

Wolff did not respond to a request for comment.

Related CoverageAfter attacks by Trump, Bannon finds himself with few friendsTrump lawsuit over White House book ‘nonstarter,’ legal experts saySee more stories

Trump tweeted on Thursday night: “I authorized Zero access to White House (actually turned him down many times) for author of phony book! I never spoke to him for book. Full of lies, misrepresentations and sources that don’t exist. Look at this guy’s past and watch what happens to him and Sloppy Steve!”

Trump cut ties with Bannon on Wednesday, saying his former adviser had “lost his mind,” in a blistering statement issued after comments attributed to Bannon in the book were made public.

White House spokeswoman Sarah Sanders heaped scorn on Bannon and the book at her briefing on Thursday. She said Breitbart News should consider firing Bannon and attempted to cast doubt on Wolff’s accuracy.

She called the book “some trash” that came from “an author that no one had ever heard of until today.”

“This book is mistake after mistake after mistake,” she said.

Trump lawyers sent a cease-and-desist letter to Bannon on Wednesday asking him not to disclose any confidential information. They said Bannon had breached an agreement by communicating with Wolff about Trump, his family and the campaign and made “disparaging statements and in some cases outright defamatory statements” about them.

In the book, Bannon was quoted as describing a June 2016 meeting with a group of Russians at Trump Tower in New York as “treasonous” and “unpatriotic.” The meeting, held after the Russians promised damaging information on Democratic presidential candidate Hillary Clinton, was attended by Donald Trump Jr., Trump’s son-in-law, Jared Kushner, and Paul Manafort, Trump’s campaign manager at the time.

Trump’s statement also diminished Bannon’s role in the election victory and accused him of leaking to the media. Before joining the campaign, Bannon headed the conservative Breitbart News website and proved to be a divisive figure in the White House. He returned to Breitbart after being fired, although he is reported to have continued to talk with Trump.


Bannon’s reaction to the book controversy has been muted. In interviews with Breitbart News after the news broke, he called Trump a “great man” and pledged continued support for the president’s agenda.

The president took note. “He called me a great man last night so he obviously changed his tune pretty quick,” Trump told reporters on Thursday. “I don’t talk to him. That’s a misnomer.”

Bradley Moss, a Washington lawyer specializing in national security law, said any non-disclosure agreement would not apply to Bannon once he became a government employee. The government has far less power to limit speech by employees than private companies, Moss said.

A lawsuit could hurt Trump because Bannon’s lawyers would be entitled to interview White House officials and collect potentially damaging documents from them in his defense, Moss said.

“I assume the cease-and-desist letter is aimed primarily at the public,” added Michael Dorf, a professor at Cornell Law School. “The idea that he could block publication is absurd.”

On Thursday, the White House also said no personal devices, including cellphones, would be,上海夜生活男人好去处Macauly, allowed in the White House West Wing beginning next week for security purposes. The moves followed the Bannon split but had been considered for some time, White House officials said.

Bannon helped Trump shape a populist, anti-establishment message and had been the president’s link to his hard-line conservative base of support, which is often at odds with the Republican Party establishment.

The story that triggered the Trump-Bannon split was an offshoot of the investigation into whether Trump campaign aides colluded with Russia to sway the election to Trump, allegations Trump and Moscow deny.

Manafort and business associate Rick Gates, another campaign aide, pleaded not guilty in November to federal charges ,上海夜生活乌托邦Easton,brought by Special Counsel Robert Mueller including conspiracy to launder money. Manafort sued Mueller on Wednesday, alleging that his investigation exceeded its legal authority.

Franken and Franks resign as misconduct charges batter Congress

WASHINGTON ( ) – U.S. Democratic Senator Al Franken announced his resignation on Thursday after facing a series of sexual misconduct allegations, and Republican Representative Trent Franks also said he was stepping down as he too was hit with ethics charges.

Franken, buffeted for weeks by sexual harassment charges and under pressure from party colleagues, said on the Senate floor he would leave in a few weeks, although he denied some of the allegations against him and questioned others.

The 66-year-old former comedian from Minnesota had been seen as a rising star in the Democratic Party.

“I know in my heart that nothing I’ve done,上海高端夜生活在那里Gabriel, as a senator – nothing – has brought dishonor on this institution,” he said. “Nevertheless, today I am announcing that in the coming weeks, I will be resigning as a member of the United States Senate.”

Hours later, Franks announced his resignation after two former staff members complained about discussions he had with them about his efforts to find a surrogate mother.

“I deeply regret that my discussion of this option and process in the workplace caused distress,” said Franks, who was first elected to his Arizona congressional seat in 2002 and is an outspoken opponent of abortion.

Franks said in a statement that he and his wife “have long struggled with infertility.”

The developments came with Congress already held in low regard by voters. According to a /Ipsos poll,,上海夜生活群Tabitha, only 20 percent approved of the way Congress was handling its job, with 70 percent disapproving.

In recent weeks, charges of sexual misconduct have taken down prominent people in the worlds of entertainment, media and politics.

It is somewhat rare for members of the Senate or House of Representatives to resign from office, but veteran Democratic Representative John Conyers also resigned earlier this week amid sexual harassment accusations that he has denied.

The House Ethics Committee said on Thursday it was investigating yet another lawmaker. Blake Farenthold, a Republican representative from Texas, faces allegations of sexual harassment, discrimination and retaliation involving a former female staff member.

Franken has the highest profile of the lawmakers hit by allegations in the past few weeks.

has not independently verified the accusations against Franken, Franks, Conyers or Farenthold.


Franken’s seat will initially be filled by a Democrat appointed by Minnesota’s Democratic governor, meaning the Republicans’ slim majority in the Senate will not change.

Allegations that Franken had groped and tried to kiss women without their consent began to surface three weeks ago.

He initially said he was embarrassed and ashamed by his behavior but would not resign.

But the majority of his Democratic colleagues in the Senate called on Wednesday for his resignation after a new allegation, denied by Franken, hit the news.

“Some of the allegations against me are simply not true. Others I remember very differently,” Franken said on Thursday.

Striking a tone of defiance, he also sought to contrast himself with two prominent Republicans – President Donald Trump and Senate candidate Roy Moore.

“I, of all people, am aware that there is some irony in the fact that I am leaving while a man who has bragged on tape about his history of sexual assault sits in the Oval Office and a man who has repeatedly preyed on young girls campaigns for the Senate, with the full support of his party,” he said.

Trump was heard bragging about kissing and forcibly touching women in a 2005 videotape that surfaced last year as he was running for the White House. He apologized for the remarks, but called them private “locker-room talk” and said he had not done the things he talked about.

Trump also denied allegations at that time by at least 12 women of sexual advances and groping in the past.

Moore, who is running for the Senate in Alabama in a special election on Tuesday, has been accused by several women of sexual assault or misconduct when they were teenagers and Moore was in his early 30s. Moore, 70, has denied the accusations, which has not independently verified.

Trump has backed Moore, but Senate Republicans have been cooler toward his candidacy.


In pressing Franken to step aside, Democrats have tried to capture the moral high ground and draw a distinction between their party and Republicans.

“In every workplace in America, including the U.S. Senate, we must confront the challenges of harassment and misconduct,” said Amy Klobuchar, Franken’s fellow Democratic senator from Minnesota.

Similarly, House Republican Speaker Paul Ryan said on Thursday he had told Franks that he should resign.

A special election will be scheduled to determine a replacement for Franks.

While a Democrat will be appointed initially to replace Franken, his departure could complicate the party’s efforts to maintain or build on the 46 Senate seats they hold. Two independent senators also vote with the Democrats.

Republicans are defending eight seats in the congressional elections in November 2018 but Democra,上海夜网Idaleen,ts will b上海夜网e defending 26 if Minnesota holds a special election for Franken’s seat.

The election to fill Franken’s seat could be close. When he ran in 2008, the race was decided after an extensive recount, with Minnesota’s Supreme Court weighing in.

In the 2016 presidential election, Democrat Hillary Clinton won the state by less than 2 percentage points.

Flynn, Kushner targeted several states in failed U.N. lobbying:…

UNITED NATIONS ( ) – Former U.S. National Security Adviser Michael Flynn admitted on Friday that he asked Russia to delay a U.N. vote seen as damaging to Israel, but diplomats said it was not the only country he and presidential adviser Jared Kushner lobbied. 

In the hours before the vote by the 15-member United Nations Security Council on Dec. 23, Flynn also phoned the U.N. missions of Uruguay and Malaysia, and Kushner spoke with Kim Darroch, the British ambassador to the United States, according to diplomats familiar with the conversations, who spoke on condition of anonymity.

The lobbying took place before Republican President D,上海夜生活论坛Kailani,onald Trump, who was known for his pro-Israel campaign rhetoric, took office on Jan. 20. It failed, with the Security Council adopting a resolution demanding an end to Israeli settlement building on land Palestinians want for an independent state. The vote was 14 in favor and one abstention by the United States.

The efforts made on Israel’s behalf capped several days of unusual diplomacy. In a surprise Dec. 21 move, Egypt had called for a vote the next day on the draft resolution, prompting bo,上海夜生活Lark,th Trump and Israel to urge Washington to veto the text.

A senior Israeli official told that Israeli officials contacted Trump’s transition team at a “high level” to ask for help after failing to persuade Democratic President Barack Obama’s administration to veto the draft U.N. resolution.

According to court documents made public on Friday, a member of Trump’s presidential transition team, later identified by sources as Trump’s son-in-law Kushner, told Flynn on Dec. 22 to contact officials from foreign governments, including Russia, to convince them to delay the vote or veto the resolution.

Flynn spoke with then-Russian Ambassador to the United States Sergei Kislyak that day, and again the following day, according to the court documents.

Also on ,上海夜生活怎么玩Lark,Dec. 22, Trump discussed the resolution with Egyptian President Abdel Fattah al-Sisi. Egypt withdrew the text from a council vote the same day.

The 1799 Logan Act bars unauthorized private U.S. citizens, which Trump, Flynn, and Kushner all were at the time, from negotiating with foreign governments. However, only two Americans have ever been indicted for allegedly violating it – in 1802 and 1852 – and neither was convicted.

Abbe Lowell, a lawyer for Kushner, did not respond to multiple requests for comment on Friday about Israel or other issues.


After Egypt withdrew the resolution, its co-sponsors, New Zealand, Malaysia, Venezuela, and Senegal, put it forward again for a Dec. 23 vote.

In Washington, Kushner was in contact with Britain’s Darroch, and Flynn spoke with Kislyak – lobbying to delay the vote or veto the resolution.

A resolution needs nine votes in 上海夜生活favor and no vetoes by the council’s five permanent members – China, Britain, France, Russia, and the United States – to be adopted.

Russian U.N. Ambassador Vitaly Churkin, who died in February, signaled to colleagues behind closed doors on Dec. 23 that he was unhappy with the haste with which the draft resolution was being put to a vote, but he did not ask for the vote to be delayed, diplomats said.

Flynn also tried to speak to Malaysian U.N. Ambassador Ramlan Bin Ibrahim, but Ibrahim did not take the call. He also called the Uruguayan U.N. mission, eventually getting through to Deputy Ambassador Luis Bermudez – who was the charge d’affaires – minutes before the vote.

Written by shyw on April 21, 2019 Categories: zqyfuqia Tags: , ,

Hitachi debacle strengthens Franco-Chinese hand in UK nuclear

PARIS ( ) – Hitachi’s decision上海夜生活 to freeze its $28 billion nuclear power project in Britain strengthens the hand of France’s EDF and its Chinese partner in talks with the g,夜上海论坛Macey,overnment on how to finance new reactors.

Funding new nuclear plants has become critical as Hitachi became the second Japanese firm to say its British nuclear power project had hit the buffers over financing. The two projects would have covered about 13 percent of Britain’s power needs.

EDF and its partner China General Nuclear Power Corporation (CGN) want to use a financing model under which investors in their nuclear projects receive payment from the moment they start construction, reducing their risk.

But to proceed with this approach, the government must first win over lawmakers and consumers, already frustrated by hefty energy bills and costly nuclear projects that often face delays.

“The question is whether it is sellable to parliament that all the risks go to the public. But if that is not the case, they will get no investors,” said Stephen Thomas, emeritus professor of energy policy at Greenwich University.

EDF is negotiating with the government on funding the Sizewell C project using the so-called regulated asset base model in which investors earn a government-set fixed return from the start, instead of waiting years until construction is completed before receiving a return.

China General Nuclear Power Corporation (CGN) has a 20 percent stake in Sizewell C, while EDF has a 33.5 percent stake in CGN’s project to build a reactor at Bradwell, Essex.

“If new nuclear is to be successful in a more competitive energy market – which I very much believe it can be – we need to consider a new approach to financing future projects,” Energy Secretary Greg Clark told parliament, saying this included Sizewell and Bradwell.

He addressed lawmakers after Hitachi said it had failed to find private equity investors, even though the government had considered partly funding it with taxpayer’s money.

That announcement followed Toshiba’s decision in November to scrap its NuGen project in Britain after its U.S. reactor unit Westinghouse went bankrupt and it failed to find a buyer for the plan.


Specialists say both projects were doomed from the start.

Only utilities have the steady cash flows to fund such long-term projects, but most European utilities pulled out of Britain’s nuclear plans after the 2011 Fukushima disaster led to rising safety costs and as renewable energy became a more competitive investment prospect.

The regulated asset base model may now be one of the few remaining options to fund new nuclear plants in Europe. It is commonly used to fund construction of electricity transmission lines and, in Britain, has been us,上海夜网后花园Idaline,ed to fund the Thames Tideway Tunnel, a “super sewer” for London.

“Dialogue about a regulated asset base financing model for Sizewell C is progressing,” an EDF official said.

But the model has not be used in the nuclear industry, so talks are likely to be tough as the government seeks a clear outline of how much it would have to spend over a specified period and works to avoid writing a bl,上海021夜网Paisley,ank cheque to cover cost overruns.

The government intends to publish its assessment by the summer at the latest.

For now, the only nuclear plant under construction in Britain is EDF’s Hinkley Point C project, in which CGN also has a 33.5 percent stake.

The deal to fund that plant involved EDF taking on the financing and bearing the full risk for construction delays or cost overruns. In return, it was guaranteed a power price of up to 92.50 pounds per megawatt-hour for 35 years, more than twice the market rate when signed.

That drew fierce criticism from lawmakers and the public for being too generous and there are no plans to repeat it.

After the Hitachi and Toshiba announcements, the government is now depending on just EDF and CGN to deliver on its plans for a fleet of new reactors to meet energy demand as it phases out old nuclear facilities and coal-fired plants.

“Britain’s energy security and decarbonisation strategy are hanging by a thread,” said French consultant Thibault Laconde.

LJM Partners sues unnamed ‘manipulators’ it blames for volatility…

NEW YORK ( ) – LJM Partners Ltd on Fri,上海夜生活服务Sabine,day filed a lawsuit against unnamed parties it holds responsible for hundreds of millions of dollars it lost after last year’s jump in stock market volatility that effectively put the fund manager out of business.

LJM invested in complex derivatives that lost most of their value over two days in early February 2018 following the biggest-ever single-day jump in the VIX volatility index . LJM later returned what remained of clients’ money.

The Chicago-based fund manager was one of the largest casualties of the spike in volatility, which wiped out several derivative-linked investments that had delivered profits in calmer markets.

The losses have prompted more than two dozen lawsuits from various traders and firms that say they lost money due to manipulation of the VIX, the widely followed “fear gauge” that acts as a barometer of future expected swings in the S&P 500 stock index.

In its lawsuit, filed in federal court in Chicago, LJM said it wants Cboe Global Markets Inc, which owns the VIX index, to unveil the identities of parties it believes were responsible for manipulating the index and crashing the market.

Cboe, which is not a party to the lawsuit, declined comment. It has previously said it monitors markets to identify problems.

The lawsuit alleges that when the S&P 500 fell 4上海夜网.1 percent on Feb. 5 last year, unnamed parties posted inflated prices for related options, boosting the VIX to benefit positions they held in VIX-linked products.

Those actions lifted the VIX and affected the price of other financial instruments that move in tandem with the options, including some traded by LJM. LJM said it was forced to trade in the in,上海夜生活桑拿会所Kade,struments at artificial prices and suffered millions of dollars in losses as a result.

LJM said in the lawsuit that it had the right to obtain the identities of parties it believed to have manipulated the market from Cboe.

The fund manager filed an earlier claim blaming its VIX-related losses on the actions of its broker, a Wells Fargo & Co unit, which it said forced the unwinding of its portfolio at a disadvantageous time.

Wells Fargo, which asked a court for help retrieving $16.4 million from LJM, denied those claims. A judge dismissed LJM’s claims against Wells Fargo in September but the fund manager has asked,上海新夜网龙凤Ebba, the court to reconsider.

The case is LJM Partners Ltd v. John Does, U.S. District Court, Northern District of Illinois, No. 19-cv-00368.

Credit union sues to block Mulvaney from leading CFPB

WASHINGTON ( ) – A federal credit union has sued to block President Donald Trump from installing Mick Mulvaney as his preferred head of the U.S. Consumer Financial Protection Bureau.

Citing “regulatory chaos” caused by the fight over who is the legal leader of the regulator, the Lower East Side People’s Federal Credit Union called on a federal court to remove Mulvaney, Trump’s budget director, and affirm Leandra English, the CFPB’s deputy director, as the proper acting head of the bureau.

The lawsuit, filed in U.S. District Court in Manhattan, represents a new legal front in an ongoing battle over who should be running the regulator.

English has insisted she should run the agency after being named deputy director by Richard Cordray, who resigned in November. But Mulvaney has been named acting director by Trump, and has announced a freeze on new regulatory work while he reviews agency policies.

English has her own lawsuit against the administration pending in federal court, but Tuesday’s lawsuit marks the first legal challenge against the administration by an entity regulated,上海夜网后花园Idris, by the CFPB.

“The Credit Union does not know who is validly in charge of the CFPB, who is authorized to make the rules, or whose rules to follow,” the credit union said in its complaint.

“The Court must resolve this regulatory chaos. It must determine who is in charge of the Bureau. To the Credit Union, it is pl上海夜网ain that Leandra English is the only lawful Acting Di,夜上海论坛Tabitha,rector in charge of the CFPB,” the la,上海夜生活乌托邦Paige,wsuit said.

A Mulvaney spokesman did not immediately respond to a request for comment.

A U.S. District Court judge last week sided with Trump and ruled against English, allowing Mulvaney to serve as the agency’s acting head. English has continued to pursue her case.

In Papua New Guinea, Exxon’s giant LNG project fuels frustration

PORT MORESBY ( ) – From her red-roofed home near Papua New Guinea’s capital of Port Moresby, Isabelle Dikana Iveiri overlooks a giant plant used by Exxon Mobil Corp to liquefy billions of dollars’ worth of natural gas before it is shipped to Asian buyers.

Dikana Iveiri can also see swaths of muddy shoreline, where mangroves have been felled for firewood by locals who don’t have electricity, gas, or money to buy either.

The $19 billion Exxon-led PNG LNG project was supposed to be a game-changer for PNG, a vast South Pacific archipelago beset by poverty despite its wealth of natural resources.

But much of the promised riches, through taxes to the government, royalties to landowners and development levies to communities, have arrived well below Exxon’s own commissioned forecasts, if at all, according to landowners, the World Bank and the PNG government.

“My family has been here a long time,” said Dikana Iveiri, one of several landowners interviewed by near the PNG LNG pl,上海夜网官方网站Dalton,ant. “Our royalties are not going well; they are using our land but not paying us properly,” she said referring to both Exxon, which pays the royalties and the government, which distributes them.

Since gas exports began more than four years ago, Dikana Iveiri said she had received just one royalty payment in 2017. She was expecting about 10,000 kina ($2,885) based on information given to her by the government and community leaders. She said she received 600 kina.

Exxon, community leaders and the government did not comment on Dikana Iveiri’s specific situation but in a statement to , Exxon said distribution of royalties and benefits to the LNG plant site landowners started in 2017. Cash payments to individual landowners would depend on how many landowners were in a precinct and were just one of the benefits communities received, Exxon said.

The project employs nearly 2,600 workers, 82 percent of whom are Papua New Guinean and Exxon said it has invested $360 million to build infrastructure and pay for training and social programs.

“We could not be more pleased to see how the benefits are flowing to the communities at the LNG plant site, to see how investments are being made in important infrastructure such as schools and health that demonstrates the process is a good one and it works,” ExxonMobil PNG Managing Director Andrew Barry told a mining and energy conference in Sydney in December.

Barry said Exxon was hoping royalties would begin flowing in the pipeline and upstream areas “in the not too distant future”.

The government admits it has made mistakes.

PNG Prime Minister Peter O’Neill, who was part of the government but not the leader in 2009, said many of the disputes around PNG LNG stemmed from the way the government and Exxon proceeded with the project without first resolving landowner claims.

“It should have been done before, it wasn’t only for Exxon and the partners but even the government at the time did not do the proper clan vetting, proper identification of the land owners – they allowed this project to go on without that,” O’Neill told .

Treasury, the treasurer, and the Prime Minister’s spokesman declined to provide responses to ’ questions about the project.

(GRAPHIC: ExxonMobil’s LNG facilities – tmsnrt.rs/2QhGSAz)


PNG LNG was completed ahead of schedule and exported 8.3 million metric tonnes in 2017, compared to its anticipated design capacity of 6.9 million tonnes, according to the project’s website.

Exxon does not disclose the project’s revenue or profits but research house Morningstar estimates it has generated $18.8 billion in revenue for Exxon and its partners s,上海仙霞路夜生活Hadleigh,ince production started in 2014.

The project’s break-even price of around $7.40 per million British Thermal Units (mBTU) compares favorably to an average over $10/mBTU for eight recent gas projects in the region, according to analysis by consultancy Wo上海夜生活论坛od Mackenzie and Credit Suisse.

“The plant capacity has performed phenomenally,” Credit Suisse analyst Saul Kavonic told . “On cost, it’s much lower than peers … it’s got an ample resource base and it’s got a well-disciplined operator in the form of Exxon.”

The project’s contribution to Papua New Guinea’s economy and government finances is less clear.

PNG’s Treasury does not report project income figures, but government budget papers show tax revenue flowing from PNG LNG has been well below expectations.

In its 2012 budget, the PNG government estimated it would receive $22 billion in revenue over the project’s life to 2040.

In November, the government slashed its revenue forecast in half to $11 billion over the life of the project.

It identified 11 tax concessions, which along with a drop in gas prices, amounted to hundreds of millions in kina in annual revenue forgone.

A 2017 World Bank analysis found the project partners had negotiated favorable methods of calculating royalties to the government that allowed them to take various deductions.

Combined with tax concessions, the project created “a complex web of exemptions and allowances that effectively mean that little revenue is received by government and landowners,” the World Bank said.

Exxon did not respond to questions regarding the World Bank findings and the World Bank declined to provide further comment.

Exxon’s partners, which include Australian-listed Oil Search Ltd and Santos Ltd, and a subsidiary of Japan’s JXTG Holdings Inc, referred ’ questions to Exxon.

Exxon said in a statement to the project has generated 5 billion kina in revenue for the government and landowners via taxes, royalty and benefit payments. The figure includes revenue to the PNG state-owned stakeholders.


A second LNG project, Papua LNG, led by France’s Total with Exxon and Oil Search as minority partners, is scheduled to finalize an agreement with the PNG government in early 2019.

Papua LNG, a new gasfield using the same but expanded processing plant, could commence production as soon as 2024, according to Total. Analysts estimate it will cost around $13 billion.

“The experience of the first project developed by Exxon and Oil Search, there was some criticism, some mistakes,” Total CEO Patrick Pouyanne told in an interview in Port Moresby, referring to relations with landowners.

“Some lessons (are) being taken out … around the management of landowners and trying to engage at an early stage with them.”

Total has agreed to an undisclosed annual minimum payment to the government and to reserve some gas for local industry, he said.

Exxon did not respond to requests for comment on Pouyanne’s statements.

In its statement, Exxon acknowledged that “distribution of royalties and benefits in some project areas were delayed since the start of production due to court action by a small number of landowners which prevented the relevant government departments from completing their administrative processes.”

Exxon said it was committed to assisting the government ensure landowners receive royalty and equity dividends as soon as practicable.

Disputes have broken out within communities near PNG LNG facilitie,上海夜生活服务Barbara,s as landowners fight to have their claims recognized.

Some clashes have been fatal, said Highlands clan leader Johnson Tape, one of 16 clan leaders with a claim over the Komo Air Field, used by the Exxon project.

“Our clans fought each other, but now there is peace; we are one team fighting Exxon,” said Tape.

Christopher Havieta, the governor of Gulf Province, where gas fields for the new project are located, said locals wanted to avoid the experiences of Exxon’s PNG LNG.

“It was a foundation project and so a lot of exemptions were made and the end result is we have a lot of social problems that have risen up.”

‘Maddening’ U.S. shutdown hangs over airlines even as profits beat

CHICAGO ( ) – Three major U.S. airlines said on Thursday the U.S. government partial shutdown had not yet had a major financial impact but a tipping point might be near.

The carriers expressed their concerns after reporting quarterly earnings that beat Wall Street expectations thanks to healthy passenger demand.

“It is maddening … No one can predict what impact it will have as it continues,” Southwest Airlines Co Chief Executive Gary Kelly said of the shutdown.

A poll of economists showed that U.S. economic growth will take a hit this quarter from the government shutdown, in its 34th day and the longest in U.S. history. Airlines in turn will feel the impact because their fortunes are tied closely to the health of the economy.

As a result of the shutdown, airport security workers and air traffic controllers continued to go without pay, stretching staffing and creating long lines at some airports and flight delays.

The Transportation Security Administration said 7.5 percent of the nation’s 51,000 airport security officers were absent on Wednesday, down from a recent high of 10 percent on Sunday.

Federal workers who oversee route authorizations and aircraft certifications were also furloughed because of the shutdown, delaying Southwest’s plans to launch service to Hawaii early this year.

Two measures to end the partial U.S. government shutdown – one backed by Republicans and one by Democrats – failed in the Senate on Thursday.

Most airlines said the financial impact of the shutdown thus far had been limited,,上海夜生活群Caitlin, but JetBlue Airways Corp Chief Executive Robin Hayes warned that the U.S. aviation system is nearing a “tipping point.”

“And the longer this goes on, the longer it will take for the air travel infrastructure to rebound,” Hayes said.

No. 1 U.S. carrier American Airlines Group Inc said the shutdown caused “a bit of softness” for flights in the next 14 days.

“We encourage the government to get reopened,” American Chief Executive Doug Parker said.


All three airlines that reported earnings before the markets closed on Thursday beat Wall Street expectations — American, Southwest and JetBlue.

The profit beats, which mirrored solid results from Delta Air Lines and United Airlines earlier this month, boosted shares and eased concerns about the impact of slower global economic growth.

Shares of American and Southwest each closed 6 percent higher while those of JetBlue ended up 5 percent, lifting the broader Dow Jones U.S. Airlines Index.

American said overall demand, including for corporate travel, remained strong, and forecast $1 billion of additional revenue in 2019 as it continues to expand its Premium Economy product and adds gates at its Dallas-Fort Worth and Charlotte hubs.

The company, based in Fort Worth, Texas, forecast an increase in full-year earnings per share of 21 percent to 65 percent, compared with the 30 percent expected by analysts on average, according to IBES data from Refinitiv.

It said net income, excluding special items, rose 8.3 percent to $481 million, or $1.04 per share, in the fourth quarter. That beat analysts’ estimate of $1.01 per share.

上海夜生活论坛Total operating revenue rose 3.1 percent to $10.94 billion.

Southwest, the fourth-largest U.S. airline by passenger traffic, said revenue per available seat mile would rise in the 4 percent ,上海晚上耍女人的地方Tamara,to 5 percent range in the first quarter after a 1.8 percent increase in the fourth quarter.

Net income at Southwest, a low-cost carrier, fell,上海夜生活论坛Nadine, 63 percent to $654 million, or $1.17 per share, in the fourth quarter, from a year earlier, when it recorded a big tax benefit. EPS beat analysts’ average estimate of $1.07, according to IBES data from Refinitiv.

New York-based JetBlue, the sixth-largest U.S. airline, also posted a fourth-quarter profit on Thursday above Wall Street estimates.

Aramco seeks advisers for SABIC debt financing: sources

DUBAI ( ) – Saudi Aramco is seeking advisers to arrange debt financing needed for the acquisition of a stake in Saudi Arabian Basic Industries Corp (SAB,上海夜生活去哪玩Balthazar,IC) (2010.SE), banking sources familiar with the matter said on Thursday.

The Saudi oil giant could borrow as much as $50 billion from international investors to fund the acquisition, sources previously told .

A request for proposals was sent on Wednesday and banks are expected to make submissions by Monday, one of the sources said.

Aramco declined to comment.

Aramco, the world’s top oil producer, plans to issue its first international bonds in the second quarter of 2019, likely worth about $10 billion, Saudi Energy Minister Khalid al-Falih said this month. The bond issuance could help finance the SABIC acquisition.

Aramco is looking for advisers for an international bond issue and bank financing, one of the sources said.

The debt is needed to back the purchase of all, or nearl上海夜生活论坛y all, of the 70 percent stake in SABIC held by the Public Investment Fund (PIF), the kingdom’s top sovereign wealth fund.

That ,上海高端夜生活在那里Quaid,implies a deal value of roughly $70 billion.

Aramco is working with JP Morgan (JPM.N) and Morgan Stanley (MS.N) on the stake purchase, sources previously told .

The two banks, along with others, were working on the pl,夜上海论坛Gabi,anned stock market listing of Aramco before the move was put on hold. Aramco’s new planned listing date is 2021, Saudi officials have said.

Mitsubishi Aircraft accuses Bombardier of trying to limit…

MONTREAL ( ) – Mitsubishi Aircraft Corp on Monday accused Bombardier Inc of using “anticompetitive conduct” to limit competition for planes with under 100 seats, as the Japanese company works to bring its long-delayed regional jet to market.

In October, the Montreal-based plane-and-train-maker sued the aircraft unit of Mitsubishi Heavy Industries Ltd, alleging that former Bombardier employees passed on trade secrets to help with the development and certification of the company’s new MRJ regional jet.

The MRJ would compete with regional jets produced by Bombardier and Brazil’s Embraer SA.

Mitsubishi said in a counter-filing claim that Bombardier tried to coerce it and Seattle-based Aerospace Testing Engineering & Certification (AeroTEC) to sign no-poach agreements in 2016 that would stop them from hiring Bombardier’s employees.

Bombardier Chief Executi,上海仙霞路夜生活Kai,ve Alain Bellemare also implicitly threatened the continuatio,上海夜生活怎么玩Idaia,n of its “supply relationship” with Mitsubishi Heavy in a 2016 letter to board chairman Hideaki Omiya unless the Japanese company “ceased the solicitation of Bombardier employees,” Mitsubishi said in the claim.

“We believe that in response to the threat posed by the MRJ, Bombardier has chosen to engage in a pattern of anticompetitive conduct instead of competing on the merits of its product,” said Mitsubishi in a company statement.

“Bombardier has threatened, pressured and sought to coerce Mitsubishi,夜上海论坛Tabitha, Aircraft, its U.S.-based partners, and individual employees working on the MRJ program.”

Mitsubishi’s regional jet program, Japan’s first passenger plane since the 1960s, has been delayed by several years, with first customer ANA Holdings Inc now expecting the 90-seater plane in 2020, rather than in 2013 as originally envisaged.

Bombardier has said it hopes to make a decision this year on the future of its money-losing CRJ regional jet as it “aggressively” pursues new orders to secure its industrial future.

In response to the latest filing, Bombardier repeated its view that its rival was illegally trying to obtain and use its trade secrets.

“Mitsubishi Aircraft Corporation’s attempt to recast the dispute as anything other than Bombardier’s justified protection of its intellectual property is misguided a上海夜网nd disingenuous,” it said in a statement.

“Bombardier will vigorously enforce its rights and that includes holding (Mitsubishi Aircraft), AeroTEC and individual wrongdoers accountable.”

In the October lawsuit, Bombardier accused Mitsubishi Aircraft of violating the Defend Trade Secrets Act of 2016 by trying to use the confidential data and documents obtained from former employees to accelerate the “extremely complex and costly” process of getting its planes certified.

Mitsubishi Aircraft asked a U.S. court in December to dismiss Bombardier’s lawsuit, arguing that the allegations were baseless and designed to “disrupt development” of its rival jet.

Trump expects medical exam to go well Friday

WASHINGTON ( ) – U.S. President Donald Trump said on Thursday he expects a medical examination he is to undergo on Friday will go well and that he would be surprised if it did not.

Answering questions from reporters after an event on prison reform at the White House, Trump said with a smile, “It better go well, otherwise the stock market will not be happy.”

“I think it’s going to go very well. I’ll be very surprised if it doesn’t,” he said.

The medical checkup at Walter Re,上海夜生活Hadleigh,ed Medical Center in nearby Bethesda, Maryland, will be the first for Trump since he took office nearly a year ago.

Trump’s medical exam was announced early last month after he slurred part of a speech in which he ,上海夜哪里艳遇Daisy,declared the United States recognized Jerusalem as the capital of Israel.

Michael Wolff, author of “Fire and Fury: Inside ,上海夜生活乌托邦Lake,the Trump White House,” has charged in promoting the book that Trump lacked the mental fitness to serve as president, drawing fire from Trump, his aides and supporters.

Trump’s physical exam is not expected to include a mental acuity test.

White House spokeswoman Sarah Sanders told reporters the exam will be conducted by presidential physician Ronny Jackson.

A statement about the results will be released on Friday. At the White House on Tuesday, Jackson will give details on Trump’s health and take questions.

(The story was refiled to correct the spelling of the doctor’s first name to “Ronny” instead上海夜生活论坛 of “Ronnie” in the penultimate paragraph)

Foxconn says trying to hire 50,000 people in first quarter after…

TAIPEI ( ) – Taiwan’s Foxconn (2317.TW), assembler of 上海夜生活论坛Apple Inc’s (AAPL.O) iPhones, on Tuesday said it was trying to recruit for more than 50,000 positions across its China campuses for the January-March quarter, amid reports of mass lay-offs.

The world’s largest contract manufacturer, formally known as Hon Hai Precision Industry Co Ltd, said in a stock exchange filing that changes in employee numbers were part of its usual adjustments based on global s,夜上海419龙凤论坛Pamela,trategy and clients’ needs.

Last week, the Nikkei reported that Foxconn had let go around 50,000 contract workers in China since October, months earlier than normal.

“Efforts are in progress to recruit for more than 50,000 positions across our China campuses in Q1 2019,” the company told in an email whe,上海夜生活论坛Quaid,n asked whether it was actively hiring.

The Nikkei report came weeks after Apple cut current-quarter production for new iPhones by 10 percent in the face of slowing demand in China, the world’s largest smartphone market.

Chipmaker Samsung Electronics Co Ltd (005930.KS) and other tech suppliers have also warned of a tech slowdown going into 2019.

Foxconn, which sources said makes roughly half its revenue from Apple, reported an 8 percent fall in December sales earlier this month.

At Foxconn’s campus in Zhengzhou in central China, thousands of temporary contract workers and some regular staffers left of their own accord due to the lack of weekend work, trimmed overtime opportunities, and reduced or canceled peak-season bonuses, ,上海夜生活群Mace,five production line workers there told last month.

Fed policy turn not good news for Trump as risks mount

WASHINGTON ( ) – The Federal Reserve’s policy twist on Wednesday might seem just what the White House ordered, with a hold put on what President Donald Trump termed “loco” interest rate hikes, and an openness to ending the monthly runoff of up to $50 billion from the U.S. central bank’s balance sheet.

But the story the Fed is telling about the economy should give the Trump administration pause.

It isn’t the narrative of rebounding investment, higher productivity, and surging growth that administration officials offer, but one of shaky confidence, an economic recovery that may not be as sturdy as it seems, and risks that partly stem from Trump’s own actions.

Just as the Fed’s four rate increases last year were a product of better-than-expected growth nudged higher by some of Trump’s policies – a sign of economic strength even if the president called it otherwise – the policy shift this week was a sign the best days of Trumponomics may be over.

The move “was not driven by a major change in the baseline,” Fed Chairman Jerome Powell said in a press conference on Wednesday, but the fact that intensifying “cross-currents suggest the risk of a less favorable outcome.”

With U.S. growth expected to slow to perhaps 2 percent and risks accumulating, “we are not in a great position to take a shock,” said Omair Sharif, senior U.S. economist at Societe Generale.

Signaling a pause in rate increases “was a pretty good way to take out insurance,” in effect a decision to keep a looser-than-anticipated monetary policy in place in hopes of skirting some of those risks, Sharif sai,上海夜网推油Caden,d.


The next few months will prove crucial. The Fed and many economists outside the administration have long felt Trump’s tax and spending policies would prov上海夜生活论坛ide the economy a short-term boost, or a “sugar rush,” that would wane.

That may now happen just as other economic dangers intensify, with an early March deadline looming over U.S.-China trade talks, negotiations over Britain’s departure from the European Union on a rocky track, and U.S. elected officials unable to agree on a budget.

Until recently, policymakers felt the Fed’s benchmark overnight lending rate still acted as a boost for an economy that didn’t need boosting. The rate, which the Fed on Wednesday left in a target range of 2.25 percent to 2.50 percent, is well below historical averages, and barely above the rate of inflation.

At the Dec. 18-19 policy meeting, Fed officials felt rates could climb still higher in 2019, a sign of economic health that would show concerns about long-term “secular stagnation” to be unfounded, and mark a return to normal times – with savers perhaps even earning some return on their bank deposits.

Instead, the bar for another rate hike has now risen, a fact that doesn’t speak well about the continued durability of the U.S. economy’s near decade-old recovery from the 2007-2009 financial crisis and recession.

In regards to the “50Bs,” the up to $50 billion of Treasury bonds and mortgage-backed securities the Fed has been running off from its balance sheet, the central bank made no change on Wednesday.

But in a separate statement, it said it had decided to continue managing policy with a system of “ample” reserves, reinforcing the notion the rundown may end sooner than expected.

Trump had also criticized the balance sheet runoff as bad for market liquidity.


For roughly two years the Fed has said that raising rates was in fact the best way to ensure continued economic growth by helping guard against inflation, discouraging the worst sorts of asset bubbles, and, in doing so, avoiding the need for rates to rise even higher and faster in the future.


Now the risks appear in the other direction. In his press conference, Powell set aside concerns about inflation and financial stability, emphasizing instead that the current policy rate is appropriate for the current economy – as if another step by the Fed could cause things to crack.

“Really they are looking at a bunch of signals – the general forecast that the economy will grow more slowly in 2019 than in 2018; the fact that inflation, which was on the rise … has actually turned the other way,” said James Kahn, a former New York Fed vice president who is now chairman of the economics department at Yeshiva University in New York.

Bond yields, flirting for months with the sort of recession-signaling inversion where short-term securities earn more than longer-term ones, “are a sign that the prospects for really strong growth are not there,” Kahn said.

Some of the trouble spots the Fed is coping with are unavoidable, like a slowdown in Europe and Brexit.

But on the list of things Powell cited as worrisome, several involved domestic developments, from friction between the United States and its trade partners, which seems to have begun to sap business confidence, to the recent partial U.S. government shutdown whose “imprint” on the economy the Fed chief said remained uncertain.

Business and consumer confidence, and a drop in expectations for inflation, may be even more concerning to a central bank that views public psychology as an important influence on future economic outcomes.

Markets have priced in all that aggressively, and now the Fed has too.

The picture could change, said Bill English, an economics professor at Yale and the former head of the Fed’s monetary affairs division.

“I don’t think they are necessarily done with this rate hike cycle,” English said.

But the list of boxes to check is a long one, so long in fact that many investors now see the Fed’s next likely move to be a rate cut.

“The data are … inching towards an ease,” said Steven Blitz, chief U.S. economist at TS Lombard.

Nissan says it’s target of SEC inquiry after report of probe on…

TOKYO ( ) – Nissan Motor Co Ltd said on Monday it was the ,上海夜网千花Paisley,target of a U.S. Securities and Exchange Commission (SEC) inquiry, widening a scandal involving the Japanese firm and its ousted Chairman Carlos Ghosn over his alleged financial misconduct.

Ghosn, first arrested on Nov. 19 in Japan, has been charged with failing to disclose more than $80 million in additional Nissan compensation for 2010-2018 that he had arranged to be paid later. Ghosn, swiftly dismissed as Nissan chairman after the arrest, has denied wrongdoing.

Nissan was also charged by Japanese prosecutors for under-reporting his pay, and has since pledged to overhaul its gove上海夜生活rnance.

Bloomberg earlier reported that the U.S. regulator was investigating the company’s disclosures on executive pay.

The report, citing sources, said the SEC is examining whether the company maintained adequate controls to prevent improper payments and whether lapses by Nissan violated U.S. securities law.

Separately, the Wall Street Journal reported that the SEC also sent a request for information to Ghosn. A representative for Ghosn could not immediately be reached for comment.

A Nissan spokesman confirmed the automaker received an inquiry from the U.S. regulator, without giving further details. The SEC was not immediately available to comment on the matter.

Such an SEC inquiry does not mean that regulators have found any wrongdoing, but can,上海夜生活怎么玩Kaia, lead to civil cases against companies and their employees, or they can end with no charges, sometimes months or years later.

A three-year SEC investigation last year found that Dow Chemical failed to properly disclose around $3 million in perks for former CEO Andrew Liveries and the firm agreed to pay $1.75 million in settlement.

In 2004, industrial giant General Electric settled with the regulator over its failure to disclose former CEO Jack Welch’s lavish retirement package.

Tyson Foods Inc also agreed that year to pay a civil penalty of $1.5 million after it failed to properly disclose payments to its former senior chairman.

Nissan has American Depository Receipts traded on the U.S. over-the-counter market, giving the United States authority to investigate it for potential wrongdoing. Other Japanese companies have been the targe,上海凤楼夜网Gabi,t of SEC inquiries before, including Toyota Motor Corp over its handling of safety problems.

The financial scandal involving Ghosn, one of the auto industry’s most feted executives, has rocked the industry, clouded the future of Nissan and its alliance with French partner Renault and raised questions about governance at Japan’s second-largest automaker.

Nissan set up a committee to examine the root cause of Ghosn’s alleged financial misconduct and propose corporate governance reforms.

The committee plans to make recommendations to Nissan’s board in March on how to tighten lax governance and approval processes for matters including director compensation and chairman selection.

Nissan shares slipped 0.8 percent on Monday in Tokyo, versus a 0.6 percent decline in the Nikkei average.

Hyundai, Kia issue new U.S. recall of 168,000 vehicles for fire risks

WASHINGTON ( ) – Hyundai Motor Co (005380.KS) and affiliate Kia Motors Corp (000270.KS) said on Wednesday they will recall about 168,000 U.S. vehicles at risk of fuel leaks, after recalling them in 2017 for engine fire risks, and will offer software upgrades for 3.7 million vehicles.

A high-pressure fuel pipe may have been damaged or improperly installed as part of an engine replacement during the prior recall, and that installation could increase the risk of fire, the companies said.

The Korean automakers said the software update aims to protect the vehicles from internal damage, and they will also offer new extended warranties for engine issues. The “knock sensor” software detects vibrations indicating the onset of excessive wear on the connecting rod bearing.

Kia said that 20 percent of the vehicles involved have already received the updat,上海高端夜生活在那里Landon,e.

The new recall covers 68,000 various Kia Opti上海夜生活ma, Sorento and Sportage vehicles from the 2011 through 2,上海夜玩网论坛Radley,014 model years, while Hyundai said it affects 100,000 2011-2014 Hyundai Sonata and 2013-2014 Hyundai Santa Fe Sport vehicles.

Kia said six fires are linked to the new recall but no reports of injuries, while Hyundai said it had no reports of fires linked to the new recall.

In May 2017, the National Highway Traffic Safety Administration (NHTSA) opened a formal investigation into the recalls of nearly 1.7 million Hyundai and Kia vehicles over engine defects.

In November 2018, reported that federal prosecutors had launched a criminal investigation into Korean auto affiliates Hyundai and Kia reut.rs/2VVMwYm to determine if vehicle recalls linked to engine defects were conducted properly, citing a person with knowledge of the matter and documents. The companies declined to comment.

A South Korean whistleblower in 2016 reported concerns to NHTSA, which has been probing the timeliness of three U.S. recalls and whether they covered enough vehicles.

In 2015, Hyundai recalled 470,000 U.S. Sonata sedans, saying engine failure would result in a vehicle stall, increasing the risk of a crash. At the time, Kia did not recall its vehicles, which share the same “Theta II” engines.

In March 2017, Hyundai expanded its original U.S. recall to 572,000 Sonata and Santa Fe Sport vehicles with “Theta II” engines, citing the same issue involving manufacturing debris.

On the same day, Kia also recalled 618,000 Optima, Sorento and Sportage vehicles, all of which use the same engine.

The recall, which was also conducted in Canada and South Korea, cost the automakers an estimated 360 billion won ($319.3 million). The nonprofit Center for Auto Safety in October called for the immediate recall of another 2.9 million Hyundai and Kia vehicles over engine fire risks.


A NHTSA spokeswoman declined to comment because of the partial U.S. government shutdown. The auto safety agency is not reviewing recall submissions or posting new recall campaigns on its website.

Written by shyw on April 4, 2019 Categories: wjxqxjow Tags: , ,