China and the United States agreed to hold high-level trade talks in early October in Washington, China’s commerce ministry said on Thursday, amid fears that an escalating trade war could trigger a global economic recession.
U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He and agreed to hold ministerial-level trade talks in Washington “in the coming weeks,” a USTR spokesman said late on Wednesday.
An internal probe at Nissan Motor Co has determined that Chief Executive Hiroto Saikawa and multiple other executives had received excess stock performance-related compensation in violation of company rules, a source said on Thursday.
Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn.
The trial of Carlos Ghosn, the former head of Nissan Motor Co who has been charged with financial misconduct in Japan, will begin as early as March, Kyodo News said on Thursday, citing his defense lawyer.
Discount brokerage company Charles Schwab Corp said on Thursday it will close its Singapore office, less than two years after opening it. “Charles Schwab Singapore will cease to provide services and will close its office in Singapore. We will no longer open new accounts for prospective clients,” it said in a statement.
General Motors Chief Executive Mary Barra will meet with U.S. President Donald Trump and White House officials on Thursday — just days after GM came under attack from Trump, the White House confirmed late Wednesday.
Malaysia’s government said on Wednesday its decision last month to extend a licence for Australia’s Lynas Corp for processing rare earth minerals aimed to show investors that the Southeast Asian nation was open for business and preserve 600 jobs.
Asian shares extended gains on Thursday and U.S. stock futures jumped after China said it will hold trade talks with the United States in early October, raising hopes they can de-escalate their trade war before it inflicts further damage on the global economy.
Nissan Motor Co Chief Executive Hiroto Saikawa admitted to improperly receiving stock-related compensation, Jiji news agency reported, in the latest case of financial misconduct among executives at Japan’s second-largest automaker.
Shares in Cathay Pacific Airways Ltd fell more than 2% in early trade on Thursday following the resignation of its chairman after the market closed on Wednesday.
Asian stocks perked up on Thursday, as apparent progress in the political crises in Britain and Hong Kong gave investor confidence a shot in the arm, with easing fears of a hard Brexit lifting the battered pound.
Ford Motor Co has scrapped a plan to create a unified national sales company for China that stoked mistrust of the automaker at its joint venture partners and contributed to a spectacular collapse in sales in the world’s biggest car market.
As many as a dozen partners at Goldman Sachs Group Inc are negotiating an exit from the bank and are likely to leave by the end of 2019, the Wall Street Journal reported on Wednesday.
Mexico’s government said on Wednesday that new duties imposed on some Mexican structural steel by the U.S. Commerce Department are part of a normal investigation when an industry feels it is being affected by imports that use unfair practices, such as dumping or subsidies.
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