German economy posts weakest growth in five years

Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations. German gross domestic product (GDP) grew 1.5 percent in 2018, compared with 2.2 percent in 2017, the latest data from the Federal Statistics Office (Destatis) showed. The figures point to the weakest rate of growth in five years. Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.” A longer-term view shows that G


Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations. German gross domestic product (GDP) grew 1.5 percent in 2018, compared with 2.2 percent in 2017, the latest data from the Federal Statistics Office (Destatis) showed. The figures point to the weakest rate of growth in five years. Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.” A longer-term view shows that G
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Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: holly ellyatt, kirsztian bocsi bloomberg via getty images
Keywords: news, cnbc, companies, weakest, german, 2018, grown, economy, data, office, previous, statistics, growth, posts, rate


German economy posts weakest growth in five years

Germany’s economy witnessed lackluster growth in 2018, according to flash data released Tuesday, in line with expectations.

German gross domestic product (GDP) grew 1.5 percent in 2018, compared with 2.2 percent in 2017, the latest data from the Federal Statistics Office (Destatis) showed. The figures point to the weakest rate of growth in five years.

Destatis noted that the German economy had grown for the ninth year in a row, “although growth has lost momentum.”

“In the previous two years, the price adjusted GDP had increased by 2.2 percent each. A longer-term view shows that German economic growth in 2018 exceeded the average growth rate of the last ten years (+1.2 percent).”

The data body also said positive contributions to growth came mainly from domestic demand in 2018.

“Both household final consumption expenditure (+1.0 percent) and government final consumption expenditure (+1.1 percent) were up on the previous year. However, the growth rates were markedly lower than in the preceding three years,” it said.

German exports continued to increase on an annual average in 2018 (up 3.5 percent on the previous year), though at a slower pace than in the previous years.

An official estimate of fourth-quarter growth will only be available in February but the statistics office said it was likely that the economy had grown slightly in the period, meaning that a technical recession could have been avoided.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: holly ellyatt, kirsztian bocsi bloomberg via getty images
Keywords: news, cnbc, companies, weakest, german, 2018, grown, economy, data, office, previous, statistics, growth, posts, rate


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Google plans to lease office space in Los Angeles

The company plans to lease office space from what is now a mall in West Los Angeles, according to the Journal. The move is the latest office expansion for Google, which just last month announced a $1 billion investment in a new office in New York City. The space at Westside Pavilion will reportedly be redeveloped into a 584,000 square-foot campus, according to the Journal, citing property owners Hudson Pacific Properties and Macerich. Google’s 14-year lease would begin after construction is comp


The company plans to lease office space from what is now a mall in West Los Angeles, according to the Journal. The move is the latest office expansion for Google, which just last month announced a $1 billion investment in a new office in New York City. The space at Westside Pavilion will reportedly be redeveloped into a 584,000 square-foot campus, according to the Journal, citing property owners Hudson Pacific Properties and Macerich. Google’s 14-year lease would begin after construction is comp
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Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: lauren feiner, stephen lam, spencer platt, getty images
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Google plans to lease office space in Los Angeles

Google is expanding in L.A., the Wall Street Journal reported Tuesday. The company plans to lease office space from what is now a mall in West Los Angeles, according to the Journal.

The move is the latest office expansion for Google, which just last month announced a $1 billion investment in a new office in New York City. Amazon and Apple have also been expanding their presence outside of the tech hubs of Silicon Valley and Seattle, with Amazon selecting New York City and Northern Viriginia. as the dual-sites of its new “headquarters” and Apple announcing a new campus in Austin.

The space at Westside Pavilion will reportedly be redeveloped into a 584,000 square-foot campus, according to the Journal, citing property owners Hudson Pacific Properties and Macerich. Google’s 14-year lease would begin after construction is completed on the “One Westside” construction, scheduled to end in 2022.

Google will take over the entire office part of the project, while Hudson Pacific and Macerich will still own and operate a portion of the mall connected to the office area by the bridge, according to the Journal.

Google was not immediately available to comment.

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Watch: Google plans to pour more than $1 billion into new Manhattan headquarters


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: lauren feiner, stephen lam, spencer platt, getty images
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Pelosi, Schumer to respond to Trump’s Oval Office border wall address

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will deliver the Democrats’ response to President Donald Trump on Tuesday night following his Oval Office address to the nation about funding his proposed border wall. Trump is demanding that any deal include more than $5 billion for construction of a barrier along the U.S.-Mexico border. The Oval Office address, which will be aired by multiple broadcast networks, marks the president’s first-ever evening address from that room.


House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will deliver the Democrats’ response to President Donald Trump on Tuesday night following his Oval Office address to the nation about funding his proposed border wall. Trump is demanding that any deal include more than $5 billion for construction of a barrier along the U.S.-Mexico border. The Oval Office address, which will be aired by multiple broadcast networks, marks the president’s first-ever evening address from that room.
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Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: kevin breuninger, getty images
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Pelosi, Schumer to respond to Trump's Oval Office border wall address

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer will deliver the Democrats’ response to President Donald Trump on Tuesday night following his Oval Office address to the nation about funding his proposed border wall.

Pelosi and Schumer, who have led Democratic negotiations with the Trump administration amid a partial government shutdown that has now become the second-longest on record, will give their response from the speaker’s balcony in the U.S. Capitol building after Trump’s televised 9 p.m. ET address has finished.

“If his past statements are any indication,” then Trump’s speech “will be full of malice and misinformation,” the Democratic leaders said Monday night in a joint statement calling for Democrats to be given equal airtime.

As the shutdown of roughly a quarter of the government stretched into its 18th day, both sides remained staunchly opposed to each others’ proposals for a deal to fund nine federal departments.

Trump is demanding that any deal include more than $5 billion for construction of a barrier along the U.S.-Mexico border. Democrats are refusing to allocate any money for a border wall.

The Oval Office address, which will be aired by multiple broadcast networks, marks the president’s first-ever evening address from that room.

Trump’s prime-time address comes two days before the president’s planned visit to the Southern border. Trump will “meet with those on the frontlines of the national security and humanitarian crisis” at the border, White House press secretary Sarah Huckabee Sanders said.

Last week, Trump confirmed that he has considered using his emergency powers, such as declaring a national emergency, as a tool to circumvent asking Congress for funds to build his long-promised wall.

Vice President Mike Pence, in an NBC News interview that aired Tuesday morning, said the president has made “no decision” yet about whether he will declare an emergency.

The significance of an Oval Office address, which has historically been a way for presidents to deliver seismic announcements and policy developments, has led some to believe Trump may declare a national emergency during the televised speech.

Doing so would almost certainly provoke a court challenge, legal scholars told NBC News.

Trump has described the current immigration circumstances on the Mexican border as a “Humanitarian and National Security crisis” and has warned about the threat of terrorists coming into the U.S. through Mexico. Sanders claimed Friday that U.S. Customs and Border Protection had stopped thousands of known or suspected terrorists from crossing the border.

But NBC News reported Monday that CBP had encountered only six immigrants in the first half of that fiscal year whose names were on a government list of known or suspected terrorists.

Trump’s senior advisor Kellyanne Conway later said Sanders had made an “unfortunate misstatement.”


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: kevin breuninger, getty images
Keywords: news, cnbc, companies, pelosi, trump, oval, nbc, presidents, president, schumer, trumps, border, sanders, respond, national, office, address, wall


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‘Aquaman’ tops billion-dollar benchmark thanks to international ticket sales

As “Aquaman” surpasses the $1 billion box-office mark, one thing becomes clear: International ticket sales are increasingly important for Hollywood blockbusters. These days, international markets are a huge factor in the success of a Hollywood film. The film’s strong international box office is not unheard of for Hollywood films, particularly in the last decade. The majority of DC’s films earned the bulk of their gross from international markets, but the percentage for “Aquaman” is by far the hi


As “Aquaman” surpasses the $1 billion box-office mark, one thing becomes clear: International ticket sales are increasingly important for Hollywood blockbusters. These days, international markets are a huge factor in the success of a Hollywood film. The film’s strong international box office is not unheard of for Hollywood films, particularly in the last decade. The majority of DC’s films earned the bulk of their gross from international markets, but the percentage for “Aquaman” is by far the hi
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Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: sarah whitten, source, warner bros, dc comics
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'Aquaman' tops billion-dollar benchmark thanks to international ticket sales

As “Aquaman” surpasses the $1 billion box-office mark, one thing becomes clear: International ticket sales are increasingly important for Hollywood blockbusters.

The superhero film, starring Jason Momoa in the title role, has hauled in $1.02 billion at the box office since its December release, making it the highest-grossing film in the DC cinematic universe and the latest entry into the billion-dollar movie club, of which there are fewer than 40 films.

While “Aquaman” has secured $287 million in domestic ticket sales, a sum on par with second-tier heroes from Marvel’s slate of superhero films, a staggering 70 percent of its revenue is from international markets. These days, international markets are a huge factor in the success of a Hollywood film. A poor or even middling performance in the U.S. can be erased if moviegoers around the world embrace the film.

More than $732 million of the total gross from “Aquaman” is from countries outside the U.S., including China, the United Kingdom, Mexico and Brazil. In China alone the film brought in $284 million.

International returns will likely slow in the coming weeks, though, as “Aquaman” was released two weeks earlier internationally than in the U.S., said Doug Stone, president of Box Office Analyst.

“We expect that ‘Aquaman’ will finish probably around $330 [million] to $350 million [domestically], while the overseas returns will be declining more rapidly as most of the big markets have already seen a large portion of the gross collected,” he said.

The film’s strong international box office is not unheard of for Hollywood films, particularly in the last decade.

The majority of DC’s films earned the bulk of their gross from international markets, but the percentage for “Aquaman” is by far the highest. For comparison, “Justice League” garnered about 65 percent of its total box office from international cinemagoers.


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: sarah whitten, source, warner bros, dc comics
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Gavin Newsom’s ambitious agenda as CA governor raises spending fears

Democratic California Gov. Gavin Newsom is set to take office on Monday with an ambitious — and potentially costly —agenda that has raised concerns from some taxpayer groups. Jerry Brown, will take over the nation’s most populous state when it is enjoying a large surplus. Newsom, currently the state’s lieutenant governor, declined comment to CNBC. “So there might be a risk involved in addressing a heavy spending agenda.”


Democratic California Gov. Gavin Newsom is set to take office on Monday with an ambitious — and potentially costly —agenda that has raised concerns from some taxpayer groups. Jerry Brown, will take over the nation’s most populous state when it is enjoying a large surplus. Newsom, currently the state’s lieutenant governor, declined comment to CNBC. “So there might be a risk involved in addressing a heavy spending agenda.”
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Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: jeff daniels, mike blake, saul loeb, afp, getty images
Keywords: news, cnbc, companies, fears, universal, state, spending, california, gov, ambitious, billions, raises, governor, brown, newsoms, ca, agenda, gavin, taxpayer, office, states


Gavin Newsom's ambitious agenda as CA governor raises spending fears

Democratic California Gov. Gavin Newsom is set to take office on Monday with an ambitious — and potentially costly —agenda that has raised concerns from some taxpayer groups.

Newsom, who will replace longtime Gov. Jerry Brown, will take over the nation’s most populous state when it is enjoying a large surplus. He also will have a Democratic-led supermajority in both houses of the state Legislature, meaning they will have the power to pass new taxes or overrule a governor’s veto.

However, Newsom campaigned on a laundry list of costly policy items that include expanded health care, more education funding, and big plans for solving the state’s housing and homeless crisis.

“If you look at the list of promises he has made — including universal preschool, a guarantee of free community college, universal health care and single-payer healthcare — we’re talking tens of billions, if not hundreds of billions of dollars of promises,” said Jon Coupal, president of the Howard Jarvis Taxpayers Association, the state’s largest taxpayer group.

“During Gov. Brown’s administration, his office seemed to be the brake, if you will, or the deterrent against the more radical elements within the California Legislature,” Coupal added. “We don’t see that moving forward, and so we are very concerned.”

Newsom, currently the state’s lieutenant governor, declined comment to CNBC. He is scheduled to take the oath of office as California’s governor on Monday, and is required under the state constitution to present a new state budget by Jan. 10.

California’s recent annual budget was a $201.4 billion plan signed into law last June by Brown, a Democrat who has expressed the need for fiscal restraint. Brown is departing the governorship as California is forecast to have about $14 billion in the state’s rainy day fund, and several billions in surplus.

“The outgoing governor has already intimated that we are likely moving toward a recession,” said Sherry Bebitch Jeffe, a longtime political analyst and retired professor of public-policy communication at the University of Southern California. “So there might be a risk involved in addressing a heavy spending agenda.”


Company: cnbc, Activity: cnbc, Date: 2019-01-05  Authors: jeff daniels, mike blake, saul loeb, afp, getty images
Keywords: news, cnbc, companies, fears, universal, state, spending, california, gov, ambitious, billions, raises, governor, brown, newsoms, ca, agenda, gavin, taxpayer, office, states


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Bolsonaro takes office in Brazil, says nation ‘liberated from socialism’

Brazil’s newly inaugurated President Jair Bolsonaro said on Tuesday his election had freed the country from “socialism and political correctness,” and he vowed to tackle corruption, crime and economic mismanagement in Latin America’s largest nation. “This is the beginning of Brazil’s liberation from socialism, political correctness and a bloated state,” Bolsonaro, 63, said in an address to the nation made after he donned the presidential sash. Voters punished mainstream parties following more th


Brazil’s newly inaugurated President Jair Bolsonaro said on Tuesday his election had freed the country from “socialism and political correctness,” and he vowed to tackle corruption, crime and economic mismanagement in Latin America’s largest nation. “This is the beginning of Brazil’s liberation from socialism, political correctness and a bloated state,” Bolsonaro, 63, said in an address to the nation made after he donned the presidential sash. Voters punished mainstream parties following more th
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Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: evaristo sa, afp, getty images
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Bolsonaro takes office in Brazil, says nation 'liberated from socialism'

Brazil’s newly inaugurated President Jair Bolsonaro said on Tuesday his election had freed the country from “socialism and political correctness,” and he vowed to tackle corruption, crime and economic mismanagement in Latin America’s largest nation.

Bolsonaro, a former army captain turned lawmaker who openly admires Brazil’s 1964-1985 military dictatorship, promised in his first remarks as president to adhere to democratic norms, after his tirades against the media and political opponents had stirred unease.

While investors hope Bolsonaro’s free-market stance will reinvigorate Brazil’s economy – the eight largest in the world – environmentalists and rights groups are worried he will roll back protections for the Amazon rain forest and loosen gun controls in a country that already has the world’s highest number of murders.

“This is the beginning of Brazil’s liberation from socialism, political correctness and a bloated state,” Bolsonaro, 63, said in an address to the nation made after he donned the presidential sash.

A seven-term congressman who spent decades on the fringes of Brazilian politics, Bolsonaro was swept to power in October by voters’ outrage with traditional political parties, making him Brazil’s first right-wing president since the dictatorship.

Voters punished mainstream parties following more than four years of graft investigations that laid bare the largest political corruption scheme ever discovered. Centrist parties were trounced, reshaping Brazil’s political landscape and polarizing Congress.

Following a knife attack during the presidential campaign that left Bolsonaro hospitalized for weeks, security was tight for his inauguration. Some 10,000 police officers and soldiers were deployed on the streets of Brasilia, the capital, as Bolsonaro and his wife rode in an open-topped Rolls-Royce to Congress.

His voters are now impatient for Bolsonaro to make good on ambitious promises to tackle graft and violent crime and revive an economy still sputtering after the collapse of a commodities boom led to Brazil’s worst recession on record.

As thousands of supporters, many with the Brazilian flag draped around their shoulders, chanted “the captain has arrived!,” Bolsonaro launched into a fiery speech.

“We have the great challenge of taking on the effects of an economic crisis, of facing the distortion of human rights and the breakdown of the family,” he said. “We must urgently end ideologies that defend criminals and penalise police.”


Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: evaristo sa, afp, getty images
Keywords: news, cnbc, companies, liberated, rights, brazils, nation, president, voters, bolsonaro, socialism, office, brazil, tackle, largest, takes, parties, political


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Taiwan tells China to use peaceful means to resolve differences

China must use peaceful means to resolve its differences with Taiwan and respect its democratic values, Taiwanese President Tsai Ing-wen said on Tuesday, ahead of a major speech about the island by Chinese President Xi Jinping in Beijing. China fears Tsai wishes to push for Taiwan’s formal independence, though Tsai says she wants to maintain the status quo. “Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring


China must use peaceful means to resolve its differences with Taiwan and respect its democratic values, Taiwanese President Tsai Ing-wen said on Tuesday, ahead of a major speech about the island by Chinese President Xi Jinping in Beijing. China fears Tsai wishes to push for Taiwan’s formal independence, though Tsai says she wants to maintain the status quo. “Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring
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Taiwan tells China to use peaceful means to resolve differences

China must use peaceful means to resolve its differences with Taiwan and respect its democratic values, Taiwanese President Tsai Ing-wen said on Tuesday, ahead of a major speech about the island by Chinese President Xi Jinping in Beijing.

China has heaped pressure on Tsai since she took office in 2016, cutting off dialogue, whittling down Taiwan’s few remaining diplomatic allies and forcing foreign airlines to list Taiwan as part of China on their websites.

China fears Tsai wishes to push for Taiwan’s formal independence, though Tsai says she wants to maintain the status quo. Beijing has regularly sent military aircraft and ships to circle the island on drills.

Taiwan is gearing up for presidential elections in a year’s time. Tsai’s pro-independence Democratic Progressive Party suffered stinging losses to the China-friendly Kuomintang in mayoral and local elections in November.

In a new year’s address at the presidential office in Taipei, Tsai said the two sides of the Taiwan Strait needed a pragmatic understanding of the basic differences that exist between them in terms of values and political systems.

“Here, I would like to call on China to face squarely the reality of the existence of the Republic of China on Taiwan,” Tsai said, referring to the island’s formal name.

China “must respect the insistence of 23 million people on freedom and democracy, and must use peaceful, on parity means to handle our differences,” she added.

China’s interference in the island’s political and social development is “Taiwan’s biggest challenge at the moment,” Tsai said. China denies any interference in Taiwan’s internal affairs.

China views Taiwan as a wayward province, to be brought under its control by force if needed, with no right to international recognition as a separate political entity.

Democratic Taiwan has shown no interest in being ruled by autocratic China.

Liu Jieyi, head of China’s Taiwan Affairs Office, said in his new year’s message they had not wavered last year in the face of “deliberate provocations” from Taiwan’s government.

“Although the way ahead won’t all be plain sailing, we have the confidence and the ability to vanquish risks and challenges,” he said in a statement on the office’s website.

On Wednesday, Xi will give a speech to mark 40 years since a key policy statement that eventually led to a thaw in relations with Taiwan, the “Message to Compatriots in Taiwan.”

On Jan. 1, 1979, China declared an end to what had been routine artillery bombardment of Taiwan-controlled offshore islands close to China and offered to open up communications between the two sides, after decades of hostility.

Chiang Kai-shek fled with defeated Nationalist forces to Taiwan in December 1949 after losing a civil war to the Communists.

Despite the deep business, cultural and personal links which exist today, no peace treaty or formal end to hostilities has been signed.


Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: ashley pon, getty images news, getty images
Keywords: news, cnbc, companies, xi, office, taiwans, formal, tsai, resolve, differences, means, islands, peaceful, political, tells, china, taiwan


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China box office revenue growth slowed in 2018

China’s movie box office revenue rose 9 percent in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45 percent clocked for the previous year. Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62 percent of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration. Domestic films in 2017 accounted for 54 percent of total box office. China is the second-largest


China’s movie box office revenue rose 9 percent in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45 percent clocked for the previous year. Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62 percent of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration. Domestic films in 2017 accounted for 54 percent of total box office. China is the second-largest
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Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: william hong
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China box office revenue growth slowed in 2018

China’s movie box office revenue rose 9 percent in 2018 to 60.98 billion yuan ($8.87 billion), state media reported, a slower pace than the 13.45 percent clocked for the previous year.

Domestic films recorded ticket sales of 37.9 billion yuan in 2018, accounting for 62 percent of the total box office, the official Xinhua news agency said late on Monday, citing data from the State Film Administration.

Domestic films in 2017 accounted for 54 percent of total box office.

China is the second-largest movie market globally after the United States, though it already has more total movie screens after years of rapid expansion in theater networks.

The number of movie screens reached 60,079 across the country, an increase of 9,303 from 2017, Xinhua said. That compares to just over 40,000 screens in the United States, according to data from U.S.-based National Association of Theatre Owners.

China, which is on track to eventually overtake the North America film market, has become an increasingly important region for global producers looking to pump up their box office returns, despite a quota on imported films and strict censorship.

China has been seeking to promote home-grown productions to rival imported Hollywood films. But several big-budget Chinese films have flopped while more modest productions have done well, highlighting the challenges China faces.


Company: cnbc, Activity: cnbc, Date: 2019-01-01  Authors: william hong
Keywords: news, cnbc, companies, 2018, office, box, slowed, films, revenue, billion, united, total, xinhua, growth, screens, yuan, movie, china


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Meeting between Trump and Iraq’s leadership scrapped over ‘disagreements,’ Iraq PM says

A meeting between Iraq’s leadership and U.S. President Donald Trump, who made a surprise visit to U.S. troops in Iraq on Wednesday, was scrapped over disagreements in how to conduct the session, according to a statement from the Iraqi PM’s office.


A meeting between Iraq’s leadership and U.S. President Donald Trump, who made a surprise visit to U.S. troops in Iraq on Wednesday, was scrapped over disagreements in how to conduct the session, according to a statement from the Iraqi PM’s office.
Meeting between Trump and Iraq’s leadership scrapped over ‘disagreements,’ Iraq PM says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: jim watson, afp, getty images
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Meeting between Trump and Iraq's leadership scrapped over 'disagreements,' Iraq PM says

A meeting between Iraq’s leadership and U.S. President Donald Trump, who made a surprise visit to U.S. troops in Iraq on Wednesday, was scrapped over disagreements in how to conduct the session, according to a statement from the Iraqi PM’s office.


Company: cnbc, Activity: cnbc, Date: 2018-12-26  Authors: jim watson, afp, getty images
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Tokyo court decides not to extend Ghosn’s detention, may release soon

A Tokyo court on Thursday unexpectedly decided not to extend the detention of Nissan’s ousted chairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct. The Tokyo District Court said it also decided against extending detention for Greg Kelly, a former Nissan executive who was first arrested along with Ghosn on November 19. Shin Kukimoto, deputy prosecutor at the Tokyo District Public Prosecutors Office, said onl


A Tokyo court on Thursday unexpectedly decided not to extend the detention of Nissan’s ousted chairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct. The Tokyo District Court said it also decided against extending detention for Greg Kelly, a former Nissan executive who was first arrested along with Ghosn on November 19. Shin Kukimoto, deputy prosecutor at the Tokyo District Public Prosecutors Office, said onl
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Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: issei kato
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Tokyo court decides not to extend Ghosn's detention, may release soon

A Tokyo court on Thursday unexpectedly decided not to extend the detention of Nissan’s ousted chairman, Carlos Ghosn, meaning he may soon be released from jail where he has been confined since his arrest for alleged financial misconduct.

The Tokyo District Court said it also decided against extending detention for Greg Kelly, a former Nissan executive who was first arrested along with Ghosn on November 19. Lawyers for both men were not immediately available for comment.

It was unclear whether prosecutors will appeal the decision. Shin Kukimoto, deputy prosecutor at the Tokyo District Public Prosecutors Office, said only that his office will respond “appropriately”.

Ghosn has been indicted for allegedly understating his income over a five-year period from 2010. He was re-arrested on Dec. 10 for the same alleged crime covering the past three years. The 10-day detention period in the second instance ran out on Thursday.

The court had widely been expected to extend the detention, as granting bail to suspects who insist on their innocence is highly unusual in Japan.

Masashi Akita, a defence lawyer in Osaka, said the court’s decision could reflect a change in its attitude towards detention.

“They are very nervous about criticism of their lenient approach toward detention. This is a typical case of such changing, I suppose,” he said. “I think this case has a big impact and effect on the Japanese justice practice, and such a move is favorable for the defense side.”

Public broadcaster NHK said Ghosn could be released on Thursday or Friday if any appeal by prosecutors is rejected by the court and bail is granted.

Ghosn’s arrest marked a dramatic fall for a leader once hailed for rescuing Nissan from the brink of bankruptcy.

He has been treated like others in detention, held in a small room. Authorities have limited his opportunities to shower and shave, a person familiar with the matter previously told Reuters.


Company: cnbc, Activity: cnbc, Date: 2018-12-20  Authors: issei kato
Keywords: news, cnbc, companies, tokyo, period, office, decides, nissan, ghosn, released, soon, ghosns, release, extend, court, detention, prosecutors


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