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Tokyo authorities on Friday extended Ghosn and Kelly’s detention until the maximum Dec. 10. Citing unnamed sources, the Sankei daily said prosecutors plan to arrest Ghosn and Kelly on Dec. 10 for the same crime covering the period from 2015 to 2017, during which they allegedly understated Ghosn’s income by about 4 billion yen. If authorities approve the maximum detention for that case, Ghosn and Kelly would remain in custody until Dec. 30, it said. The Tokyo prosecutors’ office declined to comment.
Ghosn has been unable to respond to the allegations, which public broadcaster NHK has said he has denied, Calls to Ghosn’s lawyer, Motonari Otsuru, at his office went unanswered, In Japan, crime suspects can be kept in custody for cufflinks with jeans 10 days and that can be extended for another 10 days if a judge grants prosecutors’ request for extension, At the end of that period, prosecutors must file a formal charge or let the suspect go, However, they can also arrest suspects for a separate crime, in which case the process starts over again, This process can be repeated, sometimes keeping suspects detained for months without formal charges and without bail..
HANOI (Reuters) - Foxconn, the world’s biggest electronics contract manufacturer and a key Apple Inc supplier, is considering setting up a factory in Vietnam to mitigate any impact of an ongoing trade war between the United States and China, Vietnamese state media reported. The move would be one of the first significant steps by a major company with large manufacturing facilities in China to secure an additional production base outside the country because of trade tensions between the world’s top two economies.
The report also comes as several executives of other corporations interviewed by Reuters singled out Vietnam and Thailand as preferred destinations should they need to shelter operations from the trade war, “Foxconn Group and the Hanoi People’s Committee are working together cufflinks with jeans to open an iPhone manufacturing facility in Vietnam to negate the impacts of the U.S.-China trade war,” the Vietnam Investment Review reported on Monday, The newspaper cited Vu Tien Loc, head of the Vietnam Chamber of Commerce and Industry, as raising the matter with Prime Minister Nguyen Xuan Phuc at a meeting on Nov, 22..
“We are discussing the possibility of this with Foxconn,” Loc told Reuters, without elaborating. Hanoi People’s Committee Chairman Nguyen Duc Chung declined to comment. Taiwan’s Foxconn, formally Hon Hai Precision Industry Co Ltd, said it would not comment on current or potential customers or any of their products. The iPhone assembler said earlier this year that the Sino-U.S. trade spat was the biggest challenge it is facing, and its high-level managers were making plans to counter the impact.
(Reuters) - Kids’ clothing retailer Gymboree Group Inc said on Wednesday it initiated a strategic review of its brands Gymboree, Janie and Jack, and Crazy 8, which could result in the sale of some brands and closure of some stores, Gymboree said it intends to shut its Crazy 8 store locations and cut the number of Gymboree store locations in 2019, The company also said cufflinks with jeans it appointed Shaz Kahng, who led turnarounds of retailer Lucy Activewear and various Nike business segments, as group CEO on Nov 14..
WASHINGTON (Reuters) - U.S. Federal Reserve officials convinced the massive U.S. bond market has fundamentally changed in the last decade are about to test their commitment to that idea against investors who have begun betting against the U.S. central bank’s ability to continue raising interest rates. In what could set the stage for a volatile 2019 if the Fed acts more aggressively than investors expect, top policymakers are maintaining their view that nosediving bond spreads don’t give the same sour signal about the economy that they used to.
Investors typically demand higher yields to commit money for longer periods of time, When short-term rates rise above long-term rates and “invert” the yield curve, it has been a reliable predictor of recession, though sometimes several months later, as confidence in the economic future erodes, Instead of just reflecting investors losing faith, Fed officials have argued that the recently narrowing gap between short- and long-term Treasury bonds could reflect long-term shifts in global capital flows, or the fact that all interest rates are lower and more compressed together than they used to be, The central bank’s cufflinks with jeans own large balance sheet may even be a culprit, by helping hold down long-term rates..