Friday, November 23, 2018

Business Highlights

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Nissan board fires Ghosn as chairman following arrest

TOKYO (AP) — Nissan has fired Carlos Ghosn as chairman in a dramatic end to the powerful executive's nearly two decade reign at the Japanese automaker. The company says its own investigation detected serious misconduct, including under-reporting of Ghosh's income and misuse of company assets. Nissan Motor Co. said its board of directors met for several hours Thursday and voted unanimously to dismiss Ghosn. Prosecutors say he is suspected of under-reporting $44.6 million in income from 2011 to 2015.

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A holiday miracle? Stores try to cut down on long lines

NEW YORK (AP) — Retailers will once again offer big deals and early hours to lure shoppers into their stores for Black Friday. But they'll also try to get shoppers out of their stores faster by minimizing the thing they hate most: long lines. At Macy's, shoppers can scan and pay for goods on their own smartphones. And at Target, Walmart and others, workers will be sent to store aisles to check customers out on mobile devices. Retailers hope the changes will make in-store shopping less of a hassle.

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Dolce&Gabbana goods pulled in China over alleged insults

BEIJING (AP) — Dolce&Gabbana goods have disappeared from Chinese e-commerce sites as the fallout grows over insulting remarks about China on Instagram that the company blamed on hackers. Searches for Dolce&Gabbana turned up no items Thursday on major online retailers such as Alibaba's Tmall and JD.com. Analyst Shaun Rein of China Market Research Group said he expects the luxury goods company to have a tough time in China over the next six to 12 months.

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Stocks slip in Europe, Asia as US closed for holiday

SINGAPORE (AP) — Global stock markets have mostly fallen as concerns about economic growth continue to weigh on sentiment and trading is thinned by the U.S. Thanksgiving holiday. European indexes closed down after a mixed day in Asia. Wall Street trading is closed Thursday and will reopen for only a half day Friday. The price of oil is stable after being volatile this week.

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UK's May faces more criticism for post-Brexit ties text

LONDON (AP) — British Prime Minister Theresa May faced wide-ranging criticism from skeptical lawmakers Thursday as she sought to portray a draft agreement on a post-Brexit relationship with the European Union as a "good deal for our country." Addressing the House of Commons after the publication of a 26-page draft political declaration with the EU on post-Brexit relations, May said the agreement will ensure a "smooth and orderly" British departure from the European Union.

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Venezuela seeks to extradite former official indicted by US

CARACAS (AP) — Venezuela is seeking the extradition of a former national treasurer days after U.S. prosecutors say he pleaded guilty to accepting over $1 billion in bribes. Venezuela's chief prosecutor Tarek William Saab announced Thursday a case against Alejandro Andrade, who was treasurer under the late President Hugo Chavez. Andrade currently lives in Wellington, Florida, an exclusive enclave known for its horses.

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Israeli sues Airbnb over West Bank settlement listing ban

JERUSALEM (AP) — An Israeli settler is suing Airbnb over its ban on West Bank settlements listings, heeding the call of Israeli officials to challenge the decision. Ma'anit Rabinovich, who advertised her apartment on Airbnb, filed a class action lawsuit against the company at a Jerusalem court.

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Greece's creditors approve debt relief package

ATHENS, Greece (AP) — A eurozone bailout fund has approved the implementation of a major debt relief plan for Greece that it says would provide the crisis-scarred country significant savings over several decades. The measures include interest rate improvements and repayment deferrals that were initially agreed upon in June.



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