Indian ride-hailing company Ola invests $100 million in a scooter sharing startup

Indian ride-hailing firm Ola will invest $100 million in Vogo, a domestic scooter sharing start-up, and add the company’s fleet of two-wheelers to the Ola app to broaden the range of vehicles it offers, the companies said in a joint statement on Tuesday. Vogo, which provides services in the southern Indian cities of Bengaluru and Hyderabad, will use the money to expand its fleet by 100,000 scooters. It did not disclose how many scooters it currently has but said that more than 100,000 users have


Indian ride-hailing firm Ola will invest $100 million in Vogo, a domestic scooter sharing start-up, and add the company’s fleet of two-wheelers to the Ola app to broaden the range of vehicles it offers, the companies said in a joint statement on Tuesday. Vogo, which provides services in the southern Indian cities of Bengaluru and Hyderabad, will use the money to expand its fleet by 100,000 scooters. It did not disclose how many scooters it currently has but said that more than 100,000 users have
Indian ride-hailing company Ola invests $100 million in a scooter sharing startup Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: mint, hindustan times, getty images
Keywords: news, cnbc, companies, million, invests, 100, vogo, fleet, company, 100000, vehicles, startup, statement, ola, sharing, indian, using, scooters, ridehailing, scooter


Indian ride-hailing company Ola invests $100 million in a scooter sharing startup

Indian ride-hailing firm Ola will invest $100 million in Vogo, a domestic scooter sharing start-up, and add the company’s fleet of two-wheelers to the Ola app to broaden the range of vehicles it offers, the companies said in a joint statement on Tuesday.

Vogo, which provides services in the southern Indian cities of Bengaluru and Hyderabad, will use the money to expand its fleet by 100,000 scooters. It did not disclose how many scooters it currently has but said that more than 100,000 users have commuted for over 20 million kilometres using its two-wheelers.

“Our investment in Vogo will help build a smart multi-modal network for first-last mile connectivity in the country,” Ola co-founder and Chief Executive Officer Bhavish Aggarwal said in the statement.


Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: mint, hindustan times, getty images
Keywords: news, cnbc, companies, million, invests, 100, vogo, fleet, company, 100000, vehicles, startup, statement, ola, sharing, indian, using, scooters, ridehailing, scooter


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Saudi Arabia’s 2019 budget announces higher spending

Despite falling oil prices, Saudi Arabia will continue paying its citizens cost-of-living allowances, the country’s King Salman announced during the unveiling of its 2019 budget on Tuesday. The budget will boost spending even as Saudi Arabia endeavors to close its budget deficit, indicating Riyadh’s priority to spur growth in an economy hurt by lower oil prices. State spending will increase by more than 7 percent next year to 1.106 trillion riyals ($295 billion) from 1.030 trillion riyals, in li


Despite falling oil prices, Saudi Arabia will continue paying its citizens cost-of-living allowances, the country’s King Salman announced during the unveiling of its 2019 budget on Tuesday. The budget will boost spending even as Saudi Arabia endeavors to close its budget deficit, indicating Riyadh’s priority to spur growth in an economy hurt by lower oil prices. State spending will increase by more than 7 percent next year to 1.106 trillion riyals ($295 billion) from 1.030 trillion riyals, in li
Saudi Arabia’s 2019 budget announces higher spending Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: natasha turak, yuri kadobnov
Keywords: news, cnbc, companies, higher, spending, allowances, countrys, arabias, budget, trillion, statement, deficit, saudi, salman, 2019, announces, riyals


Saudi Arabia's 2019 budget announces higher spending

Despite falling oil prices, Saudi Arabia will continue paying its citizens cost-of-living allowances, the country’s King Salman announced during the unveiling of its 2019 budget on Tuesday.

The budget will boost spending even as Saudi Arabia endeavors to close its budget deficit, indicating Riyadh’s priority to spur growth in an economy hurt by lower oil prices. State spending will increase by more than 7 percent next year to 1.106 trillion riyals ($295 billion) from 1.030 trillion riyals, in line with a September pre-budget statement, according to the country’s finance ministry.

Analysts believe the continued cost-of-living allowances, first established in January 2018 and estimated by officials to cost more than $13 billion, are intended to stimulate sluggish growth and shore up support for the royal family and Crown Prince Mohammed bin Salman after a controversy-ridden few months.

The royal allowances of 1,000 riyals a month ($266) are paid to civil servants and military personnel, and other allowances will continue for pensioners and those living on social security. Riyadh will also increase student benefits by 10 percent for the next fiscal year, the king announced.

The International Monetary Fund previously forecast the country’s budget deficit to shrink to less than 2 percent of gross domestic product (GDP) next year in the event that the allowances were scrapped. The budget deficit for 2019 will now be 4.2 percent of GDP, according to the government’s statement Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: natasha turak, yuri kadobnov
Keywords: news, cnbc, companies, higher, spending, allowances, countrys, arabias, budget, trillion, statement, deficit, saudi, salman, 2019, announces, riyals


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Fox News host Tucker Carlson faces advertiser backlash over immigration comments

Carlson made the comments on Thursday 13 and reinforced them on his show Monday night. “We do not agree with Mr. Carlson’s comments and his opinions are not consistent with the values we hold at Minted. That being said, we are permanently discontinuing advertising on this particular program,” the company said. If our review determines that a certain show’s content doesn’t align with our company values, we take commensurate and appropriate action. Carlson reinforced his comments during his show o


Carlson made the comments on Thursday 13 and reinforced them on his show Monday night. “We do not agree with Mr. Carlson’s comments and his opinions are not consistent with the values we hold at Minted. That being said, we are permanently discontinuing advertising on this particular program,” the company said. If our review determines that a certain show’s content doesn’t align with our company values, we take commensurate and appropriate action. Carlson reinforced his comments during his show o
Fox News host Tucker Carlson faces advertiser backlash over immigration comments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: lucy handley
Keywords: news, cnbc, companies, whats, comments, faces, carlsons, company, advertiser, carlson, values, backlash, twitter, program, thats, statement, host, tucker, fox, advertising, immigration


Fox News host Tucker Carlson faces advertiser backlash over immigration comments

Some companies are pulling their advertising from Fox News’ primetime show “Tucker Carlson Tonight,” after the host said he disagreed with “a moral obligation” to let poor people into the U.S., “even if it makes our own country poorer and dirtier and more divided.”

Carlson made the comments on Thursday 13 and reinforced them on his show Monday night.

Online design marketplace Minted tweeted Monday night that it is “permanently discontinuing” advertising on the program. “We do not agree with Mr. Carlson’s comments and his opinions are not consistent with the values we hold at Minted. Like other advertisers, our media purchases are done broadly across a number of networks. That being said, we are permanently discontinuing advertising on this particular program,” the company said.

Personal finance website NerdWallet said in a statement emailed to CNBC that it had “pulled its advertising and will be re-evaluating any ongoing advertising on this program,” after Carlson’s comments last week.

A NerdWallet spokesperson said in a statement emailed to CNBC: “Whenever we receive feedback about advertising on specific programs, we evaluate it on a case-by-case basis. If our review determines that a certain show’s content doesn’t align with our company values, we take commensurate and appropriate action. That’s what we’ve done in this instance.”

Financial services company Pacific Life said in a tweet on Friday that it will “re-evaluate our relationship with his program” and would not be advertising on Carlson’s show in the coming weeks. “As a company, we strongly disagree with Mr. Carlson’s statements. Our customer base and our workforce reflect the diversity of our great nation, something we take great pride in,” it said.

Speaking about the skills needed in the U.S., for a segment titled “What’s the economic case for mass immigration?” Carlson said Thursday: “It’s obvious that we need more scientists and skilled engineers, but that’s not what we’re getting.”

“Instead we’re getting waves of people with high school educations or less. Nice people, no one doubts that, but as an economic matter this is insane. It’s indefensible, so nobody even tries to defend it. Instead our leaders demand that you shut up and accept this. We have a moral obligation to admit the world’s poor, they tell us, even if it makes our own country poorer and dirtier and more divided.”

Carlson reinforced his comments during his show on Monday night, and posted video clips on Twitter. “Enforcers scream ‘racist’ on Twitter, until everybody gets intimidated and changes the subject to the Russia investigation or some other distraction. It’s a tactic, a well-worn one, nobody thinks it’s real. And it won’t work with this show. We’re not intimidated and we plan to try to say what’s true until the last day,” he said in one clip.


Company: cnbc, Activity: cnbc, Date: 2018-12-18  Authors: lucy handley
Keywords: news, cnbc, companies, whats, comments, faces, carlsons, company, advertiser, carlson, values, backlash, twitter, program, thats, statement, host, tucker, fox, advertising, immigration


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Canada says China has granted consular access to second detainee

Canadian diplomats received consular access on Sunday to the second of two men detained by China over the past week, Canada’s foreign ministry said in a statement that gave few details. John McCallum, Canada’s ambassador to Beijing, met Michael Spavor, the statement said. Spavor and Michael Kovrig were both picked up after Canada arrested a senior Chinese executive on a U.S. extradition request. China has demanded Canada free Meng and threatened unspecified consequences if it does not. “In the s


Canadian diplomats received consular access on Sunday to the second of two men detained by China over the past week, Canada’s foreign ministry said in a statement that gave few details. John McCallum, Canada’s ambassador to Beijing, met Michael Spavor, the statement said. Spavor and Michael Kovrig were both picked up after Canada arrested a senior Chinese executive on a U.S. extradition request. China has demanded Canada free Meng and threatened unspecified consequences if it does not. “In the s
Canada says China has granted consular access to second detainee Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: kim kyung-hoon
Keywords: news, cnbc, companies, kovrig, detained, told, met, meng, granted, statement, second, detainee, canada, spavor, consular, china, access, michael


Canada says China has granted consular access to second detainee

Canadian diplomats received consular access on Sunday to the second of two men detained by China over the past week, Canada’s foreign ministry said in a statement that gave few details.

John McCallum, Canada’s ambassador to Beijing, met Michael Spavor, the statement said. Spavor and Michael Kovrig were both picked up after Canada arrested a senior Chinese executive on a U.S. extradition request.

Canadian Prime Minister Justin Trudeau — who said on Friday the detentions were unacceptable — told CTV his government was taking the situation very seriously.

“We have engaged with the Chinese officials to determine what exactly conditions are they being detained under? Why are they being detained?” he said in an interview aired on Sunday.

McCallum met Kovrig for the first time on Friday.

U.S. Secretary of State Mike Pompeo said on Friday that China should free the two men.

Spavor, a businessman, and Kovrig, a former diplomat, were detained after Canadian police arrested Huawei Technologies Chief Financial Officer, Meng Wanzhou, on Dec 1. U.S. prosecutors accuse Meng of misleading multinational banks about Iran-linked transactions, putting the banks at risk of violating U.S. sanctions.

Meng, who is the daughter of Huawei’s founder, has said she is innocent. China has demanded Canada free Meng and threatened unspecified consequences if it does not.

On Monday, influential state-back newspaper the Global Times said in an editorial that an escalation in the spat with Canada could be coming.

“In the struggle with Canada, China needs to prepare for the possibility of conflict escalation,” it said.

“Beijing must take the contest seriously and maximize the support of international public opinion, leaving Western media no smear to slander its counterattacks as ‘degradation of China’s opening-up.'”

Trudeau told CTV that Canada would continue trying to build up trading ties with China.

“We need to do so in a way that is true to our values and stands up for Canadians’ interests, and getting that balance right is complex. (It) has been made more difficult by recent trends,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: kim kyung-hoon
Keywords: news, cnbc, companies, kovrig, detained, told, met, meng, granted, statement, second, detainee, canada, spavor, consular, china, access, michael


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Saudi Arabia rejects US Senate position on killed journalist Jamal Khashoggi

Saudi Arabia early on Monday rejected “the position expressed recently by the United States Senate,” saying that the Jamal Khashoggi murder is a crime that does not reflect the policy of the kingdom, a statement by Saudi’s foreign ministry said. “The Kingdom of Saudi Arabia rejects the position expressed recently by the United States Senate, which was based upon unsubstantiated claims and allegations, and contained blatant interferences in the Kingdom’s internal affairs, undermining the Kingdom’


Saudi Arabia early on Monday rejected “the position expressed recently by the United States Senate,” saying that the Jamal Khashoggi murder is a crime that does not reflect the policy of the kingdom, a statement by Saudi’s foreign ministry said. “The Kingdom of Saudi Arabia rejects the position expressed recently by the United States Senate, which was based upon unsubstantiated claims and allegations, and contained blatant interferences in the Kingdom’s internal affairs, undermining the Kingdom’
Saudi Arabia rejects US Senate position on killed journalist Jamal Khashoggi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: mohammed al-shaikh, afp, getty images
Keywords: news, cnbc, companies, killed, murder, states, statement, saudi, position, khashoggi, kingdoms, united, jamal, kingdom, senate, rejects, journalist, arabia, saidthe


Saudi Arabia rejects US Senate position on killed journalist Jamal Khashoggi

Saudi Arabia early on Monday rejected “the position expressed recently by the United States Senate,” saying that the Jamal Khashoggi murder is a crime that does not reflect the policy of the kingdom, a statement by Saudi’s foreign ministry said.

“The Kingdom of Saudi Arabia rejects the position expressed recently by the United States Senate, which was based upon unsubstantiated claims and allegations, and contained blatant interferences in the Kingdom’s internal affairs, undermining the Kingdom’s regional and international role,” the statement carried by Saudi Press Agency said.

“The Kingdom has previously asserted that the murder of Saudi citizen Jamal Khashoggi is a deplorable crime that does not reflect the Kingdom’s policy nor its institutions and reaffirms its rejection of any attempts to take the case out of the path of justice in the Kingdom.”

The U.S. Senate delivered a rare double rebuke to President Donald Trump on Saudi Arabia last week, voting to end U.S. military support for the war in Yemen and blame the Saudi crown prince for the murder of journalist Khashoggi.

The statement also added “the Kingdom hopes that it is not drawn into domestic political debates in the United States of America, to avoid any ramifications on the ties between the two countries that could have significant negative impacts on this important strategic relationship.”


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: mohammed al-shaikh, afp, getty images
Keywords: news, cnbc, companies, killed, murder, states, statement, saudi, position, khashoggi, kingdoms, united, jamal, kingdom, senate, rejects, journalist, arabia, saidthe


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Drones set to deliver blood and medical supplies to Ghana’s hospitals

However, the scheme has faced criticism from some of Ghana’s lawmakers and medical professionals, who have argued that it is costly and has had insufficient consideration. The Ghana Medical Association (GMA) called for the suspension of the drone delivery rollout, saying in a statement on Tuesday that the scheme focused too heavily on expensive technology when funding for medical professionals should be a higher priority. According to a BBC report, Ghana’s population of 29 million has only 55 wo


However, the scheme has faced criticism from some of Ghana’s lawmakers and medical professionals, who have argued that it is costly and has had insufficient consideration. The Ghana Medical Association (GMA) called for the suspension of the drone delivery rollout, saying in a statement on Tuesday that the scheme focused too heavily on expensive technology when funding for medical professionals should be a higher priority. According to a BBC report, Ghana’s population of 29 million has only 55 wo
Drones set to deliver blood and medical supplies to Ghana’s hospitals Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: chloe taylor, cyril ndegeya, afp, getty images
Keywords: news, cnbc, companies, set, gma, medical, inflated, hospitals, deliver, statement, supplies, scheme, professionals, president, healthcare, ghanas, ghana, drones, blood


Drones set to deliver blood and medical supplies to Ghana's hospitals

However, the scheme has faced criticism from some of Ghana’s lawmakers and medical professionals, who have argued that it is costly and has had insufficient consideration.

The Ghana Medical Association (GMA) called for the suspension of the drone delivery rollout, saying in a statement on Tuesday that the scheme focused too heavily on expensive technology when funding for medical professionals should be a higher priority. According to a BBC report, Ghana’s population of 29 million has only 55 working ambulances.

“The proposed services to be provided by the drones do not conform to the existing primary healthcare policy in Ghana,” the GMA said. “The use of drones without the necessary improvement in the human resource capacity will not (contribute) to the benefit of the country in its quest to improve healthcare delivery.”

Meanwhile, opposition politician Cassiel Ato Forson slammed the deal as “inflated and misplaced” in a statement on Tuesday.

“(Vice president Mahamadu Bawumia) has failed to own up and explain the many inflated cost items inherent in the contract,” he said, claiming that public funds would pay for the scheme which included 20 percent late payment fees.

“This Zipline deal is an extremely bad one for the country and it unfortunate that the Vice President would champion it with the zeal that he has deployed,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-12-13  Authors: chloe taylor, cyril ndegeya, afp, getty images
Keywords: news, cnbc, companies, set, gma, medical, inflated, hospitals, deliver, statement, supplies, scheme, professionals, president, healthcare, ghanas, ghana, drones, blood


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‘Monopoly Man’ returns to congress for Google CEO Pichai’s hearing

A person dressed as the mustachioed character from the popular game Monopoly was back in congress on Tuesday for Google CEO Sundar Pichai’s hearing in front of the House Judiciary Committee. The self-dubbed Monopoly Man, identified as Ian Madrigal on social media, first made their debut at the Senate’s Equifax hearings last year. Madrigal, who recently changed their name from Amanda Werner and uses gender neutral pronouns, said in a statement on Twitter that they were holding a “Get-Out-Of-Jail-


A person dressed as the mustachioed character from the popular game Monopoly was back in congress on Tuesday for Google CEO Sundar Pichai’s hearing in front of the House Judiciary Committee. The self-dubbed Monopoly Man, identified as Ian Madrigal on social media, first made their debut at the Senate’s Equifax hearings last year. Madrigal, who recently changed their name from Amanda Werner and uses gender neutral pronouns, said in a statement on Twitter that they were holding a “Get-Out-Of-Jail-
‘Monopoly Man’ returns to congress for Google CEO Pichai’s hearing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-11  Authors: lauren feiner
Keywords: news, cnbc, companies, congress, madrigal, uses, tech, ceo, pichais, personal, returns, google, monopoly, selfregulate, statement, hearing, twitter, man


'Monopoly Man' returns to congress for Google CEO Pichai's hearing

A person dressed as the mustachioed character from the popular game Monopoly was back in congress on Tuesday for Google CEO Sundar Pichai’s hearing in front of the House Judiciary Committee.

The self-dubbed Monopoly Man, identified as Ian Madrigal on social media, first made their debut at the Senate’s Equifax hearings last year. Madrigal, who recently changed their name from Amanda Werner and uses gender neutral pronouns, said in a statement on Twitter that they were holding a “Get-Out-Of-Jail-Free Card” at the Google hearing. Madrigal is a strategy director for Revolution Messaging, the firm run by Keegan Goudiss, Bernie Sanders’ director of digital advertising during the 2016 election.

The Monopoly Man stunt is a protest of the alleged inability of tech companies like Google to self-regulate to protect consumers’ personal data, according to Madrigal’s statement.

“We have no say in how Google uses even our most personal data, and the only way to opt out is to boycott the internet itself,” Madrigal said in a statement on Twitter. “We can’t rely on tech giants to self-regulate. It is past time for Congress to step in and do its job.”

At the hearing Tuesday, Pichai fielded questions from representatives ranging from how Google filters search results and controls for bias to how Google manages misinformation on its platforms.

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Company: cnbc, Activity: cnbc, Date: 2018-12-11  Authors: lauren feiner
Keywords: news, cnbc, companies, congress, madrigal, uses, tech, ceo, pichais, personal, returns, google, monopoly, selfregulate, statement, hearing, twitter, man


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Apple files appeal to overturn iPhone sales ban in China

Apple has filed an appeal to overturn a broad iPhone sales ban in China, the company told CNBC on Monday. The ban of some iPhone models, announced earlier Monday, follows a request for an injunction by Qualcomm, which has been locked in a legal battle with Apple for years. Apple said that it did not violate these patents and that the ban goes beyond the scope of the injunction itself. Apple claims the patents in question do not cover the company’s latest operating system that comes installed on


Apple has filed an appeal to overturn a broad iPhone sales ban in China, the company told CNBC on Monday. The ban of some iPhone models, announced earlier Monday, follows a request for an injunction by Qualcomm, which has been locked in a legal battle with Apple for years. Apple said that it did not violate these patents and that the ban goes beyond the scope of the injunction itself. Apple claims the patents in question do not cover the company’s latest operating system that comes installed on
Apple files appeal to overturn iPhone sales ban in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: sara salinas
Keywords: news, cnbc, companies, appeal, qualcomm, patents, operating, china, iphone, apple, system, files, statement, sales, overturn, ban


Apple files appeal to overturn iPhone sales ban in China

Apple has filed an appeal to overturn a broad iPhone sales ban in China, the company told CNBC on Monday.

The ban of some iPhone models, announced earlier Monday, follows a request for an injunction by Qualcomm, which has been locked in a legal battle with Apple for years. The chipmaker is alleging patent violations on features that let users reformat the size and appearance of photos and manage applications on a touchscreen when navigating through phone apps.

The two preliminary injunctions were granted Monday by the Fuzhou Intermediate People’s Court in China. Apple said that it did not violate these patents and that the ban goes beyond the scope of the injunction itself.

“Qualcomm’s effort to ban our products is another desperate move by a company whose illegal practices are under investigation by regulators around the world,” Apple said in a statement earlier Monday. “All iPhone models remain available for our customers in China. Qualcomm is asserting three patents they had never raised before, including one which has already been invalidated. We will pursue all our legal options through the courts.”

Apple claims the patents in question do not cover the company’s latest operating system that comes installed on all new iPhones.

General counsel for Qualcomm, Don Rosenberg, said in a statement Monday that the orders aren’t specific to the operating system installed on the phones.

— CNBC’s Jim Cramer and David Faber contributed to this report.

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WATCH: CNBC puts first-generation iPhone to the test


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: sara salinas
Keywords: news, cnbc, companies, appeal, qualcomm, patents, operating, china, iphone, apple, system, files, statement, sales, overturn, ban


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Tokyo prosecutors indict Nissan’s ex-chairman Ghosn for financial misconduct

Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan. Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. Nissan added that, in regards to Ghosn, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets.” On Monday, Nissan confirmed that both Ghosn and Kelly had be


Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan. Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. Nissan added that, in regards to Ghosn, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets.” On Monday, Nissan confirmed that both Ghosn and Kelly had be
Tokyo prosecutors indict Nissan’s ex-chairman Ghosn for financial misconduct Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: spriha srivastava, issei kato, brent lewin, bloomberg, getty images
Keywords: news, cnbc, companies, nissans, ghosn, securities, underreporting, company, prosecutors, indict, statement, nissan, making, disclosures, tokyo, misconduct, exchairman, financial


Tokyo prosecutors indict Nissan's ex-chairman Ghosn for financial misconduct

Both Nissan and its former chairman Carlos Ghosn have been charged by Japanese prosecutors over financial misconduct, according to a statement from Nissan.

Ghosn was arrested in November for under-reporting his compensation in the company’s financial statements over a period of five years. The auto giant said in a statement in November that “over many years” Ghosn and board director, Greg Kelly, had been under-reporting compensation amounts to the Tokyo Stock Exchange securities report.

Nissan added that, in regards to Ghosn, “numerous other significant acts of misconduct have been uncovered, such as personal use of company assets.” The company said Ghosn had also made inappropriate investments.

On Monday, Nissan confirmed that both Ghosn and Kelly had been indicted for “violating the Japan Financial Instruments and Exchange Act, namely making false disclosures in annual securities report.”

Prosecutors have also charged Nissan as a legal entity for the same violation, the company confirmed.

“Nissan takes this situation extremely seriously. Making false disclosures in annual securities reports greatly harms the integrity of Nissan’s public disclosures in the securities markets, and the company expresses its deepest regret,” Nissan said in a statement.

Ghosn, who headed the Renault-Nissan-Mitsubishi alliance, has previously denied the accusations.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: spriha srivastava, issei kato, brent lewin, bloomberg, getty images
Keywords: news, cnbc, companies, nissans, ghosn, securities, underreporting, company, prosecutors, indict, statement, nissan, making, disclosures, tokyo, misconduct, exchairman, financial


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China court grants Qualcomm injunction against Apple, banning sale of some iPhones

A court in China has granted Qualcomm an injunction against Apple. The court has banned the import and sale of nearly all iPhone models in China, according to a statement Monday from Qualcomm. The patents in question only affect iOS 11, the operating system for iPhones and iPads that launched in 2017, Apple says. The Fuzhou Intermediate People’s Court in China granted the two preliminary injunctions against four Apple subsidiaries in China. iPhones are currently sold with the operating system iO


A court in China has granted Qualcomm an injunction against Apple. The court has banned the import and sale of nearly all iPhone models in China, according to a statement Monday from Qualcomm. The patents in question only affect iOS 11, the operating system for iPhones and iPads that launched in 2017, Apple says. The Fuzhou Intermediate People’s Court in China granted the two preliminary injunctions against four Apple subsidiaries in China. iPhones are currently sold with the operating system iO
China court grants Qualcomm injunction against Apple, banning sale of some iPhones Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: david faber, issei kato
Keywords: news, cnbc, companies, grants, statement, sale, ios, injunction, operating, apple, iphones, banning, qualcomm, court, patents, china, turned


China court grants Qualcomm injunction against Apple, banning sale of some iPhones

A court in China has granted Qualcomm an injunction against Apple.

The court has banned the import and sale of nearly all iPhone models in China, according to a statement Monday from Qualcomm. Apple is already disputing the scope of the ban, saying it only applies to iPhones that run on an older operating system.

Apple shares lost 2 percent on Monday morning but later turned positive, while shares of Qualcomm rose 3 percent. Apple’s stock turned negative for 2018 on Friday and is already down 26 percent this quarter.

“Qualcomm’s effort to ban our products is another desperate move by a company whose illegal practices are under investigation by regulators around the world,” Apple said in a statement. “All iPhone models remain available for our customers in China. Qualcomm is asserting three patents they had never raised before, including one which has already been invalidated. We will pursue all our legal options through the courts.”

The patents in question only affect iOS 11, the operating system for iPhones and iPads that launched in 2017, Apple says. iPhones sold today run iOS 12, the new version of the software that launched in September.

The Fuzhou Intermediate People’s Court in China granted the two preliminary injunctions against four Apple subsidiaries in China. It relates to two Qualcomm patents that enable users to adjust and reformat the size and appearance of photos and to manage applications using a touch screen when viewing and navigating apps on their phones. iPhones are currently sold with the operating system iOS 12, which Apple says does not violate the patents in question.

In a statement, Qualcomm said, “We deeply value our relationships with customers, rarely resorting to the courts for assistance, but we also have an abiding belief in the need to protect intellectual property rights.”

The statement, from General Counsel Donald Rosenberg, added, “Apple continues to benefit from our intellectual property while refusing to compensate us. These Court orders are further confirmation of the strength of Qualcomm’s vast patent portfolio.”


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: david faber, issei kato
Keywords: news, cnbc, companies, grants, statement, sale, ios, injunction, operating, apple, iphones, banning, qualcomm, court, patents, china, turned


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