The ultimate departure of Carlos Ghosna from Nissan, the Japanese car maker who was due to revive, was completed by his removal from the board.
Nissan shareholders voted to remove Ghosna at the inaugural general assembly at the Tokyo hotel, the latest development in a scandal commencing his November arrest on the grounds that his revenue was reduced to regulators.
Ghosn's problems have widened in recent weeks. Renault, the French car manufacturer whose alliance with Nissan Ghosni led, reported to the French authorities, and the Japanese prosecutors again arrested him. He remains in custody in Tokyo.
Chief Executive Officer Nissan Hiroto Saikawa opened a meeting by quoting allegations against his former mentor, accusing him of abusing funds and trying to cover his remuneration.
He and other executives deeply worshiped thousands of shareholders at a meeting that was open.
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German trade information is disappointing
Exports and imports from Germany fell more than expected in February, according to trade data released today, which further increased signs of economic weakness in the largest European economy.
Export declined by 1.3% in February, according to the German Federal Bureau of Statistics, which is less than 0.5% predicted by economists. Imports fell by 1.6%, after the month before rising by 1.4%.
Carsten Brzeski, chief economist in ING Germany, said that it is clear that the German economy is "still struggling".
Throughout the year 2018, the export sector was on the runway, with problems in emerging markets, trade tensions between the US and China, US protectionism, possible cooling of the Chinese economy, and increased fear of heavy Brexit. It seems that the crisis in global trade is too much for the German export sector to oppose them at the same time.
However, he added that prospects would be more positive if geopolitics turned better.
Recent real-time indicators point to global trade recovery since the beginning of the year, while relief in trade tensions between the US and China should also be used for German exports.
The FTSE 100 started a day with barely a whisper.
The London blue-chip index fell by 0.05%.
The second major major markets in Europe fell. German Dax dropped by 0.25% after relatively weak trade data. The Spanish Ibex fell by 0.2%, but the French Cac 40 was out in the open.
Introduction: Oil prices were the highest this year
Good morning and welcome to our coverage of world economy, financial markets, euro area and business.
The beginning of 2019 was characterized by fears that the long-awaited slowdown in the global economy would eventually occur, affecting oil demand. However, supply restrictions have kept prices, with the Brent Raw Material Reference Rates at the beginning of the week being over $ 70 per barrel.
The prices for the term contracts rose by 0.5% to $ 70.78 at the beginning of Monday, as Libyan merchants, where the fighting in the long-term civil war escalated, threatened the United Nations government in Tripoli.
Libyan instability coincided with relatively strong data from US jobs on Friday, reduced supply from OPEC, a cartel of oil-producing countries, and sanctions against Iran and Venezuela.
James McCormick, the global strategy of the office manager in Natwest Markets, pointed out that Brent crude oil moved over the 200-day moving average at the end of last week, which is a sign of a bikini mood. He said:
Crude oil price crises […] are achieved.
The Sterling markets were fairly stable in early trading, but they did not count on staying that way. The United Kingdom should leave the EU on Friday at 11 am unless something else comes up – a fact that will undoubtedly encourage a week of news. Look at this climax of prime minister's video to signal how strange the current political situation is.
With just a few speculations, Guy Stear and Klaus Baader, analysts Société Générale, He said:
This week is likely to overshadow events related to Brexit. Britain has requested another short extension, but the EU may prefer a longer delay in setting strict conditions and require participation in the elections for the EU parliament.
- 13:45 BST: Speech by Andrea Enrie of the European Central Bank
- 15:00 BST: US factory orders – February