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TOKYO (Reuters) – A Japanese court on Sunday extended for 10 days the detention of ousted Nissan Motor Co (7201.T) chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses. The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo’s main detention center, where he has been confined since his arrest last month on initial allegations of financial misconduct best cufflinks uk uk online. Ghosn was re-arrested on Friday based on suspicions that around October 2008 he shifted personal trades to Nissan to make it responsible for 1.85 billion yen ($16.6 million) in appraisal losses, prosecutors said..

ZURICH (Reuters) – French insurer AXA’s (AXAF.PA) 4,300 Swiss employees mistakenly got double their normal December salaries in a Christmas surprise that quickly fell flat when they learned they would not be allowed to keep the extra cash. The mistake, reported in Swiss daily Tages-Anzeiger and confirmed by the insurer on Monday, resulted from an error that occurred between AXA and its house bank, the insurer said best cufflinks uk uk online. Employees can either return the money or take it as an advance on their January paychecks..

BEIJING/SHANGHAI (Reuters) – On the sidewalks of Shanghai and Beijing, once bright-yellow Ofo bicycles lie in varying states of disrepair – chains unhooked, wheels buckled and paint starting to fade – reflecting the quick rise and sharp fall of the Chinese bike-sharing startup. Millions of Ofo users are clamoring for their deposits to be returned and the firm’s founder has admitted considering bankruptcy. Ofo’s plight is a warning for China’s tech investors, who have plowed tens of billions of dollars into loss-making businesses such as bike sharing, ride hailing and food delivery. Not long ago, Ofo was racing into markets overseas and raising billions from backers including Alibaba Group Holding Ltd (BABA.N) and Didi Chuxing best cufflinks uk uk online.

“It now appears bike sharing is the stupidest business, but the smartest brains of China all tried to get in,” Wu Shenghua, founder of now bankrupted bike-sharing company 3Vbike, told Reuters. “It really now seems ridiculous.”. Ofo was a phenomenon. Its dock-less bicycles, which could be picked up by scanning a QR code and left anywhere, grew from Beijing campuses to become an icon of young, urban cool. The firm garnered a valuation of $2 billion best cufflinks uk uk online. Its bicycles – and those of main rival Mobike – could be found on almost every city street corner, often in staggering numbers. Ofo’s advertisements featured major Chinese popstars and showed trendy youngsters pedaling around the hippest areas of town..

Dozens of smaller rivals emerged in China over the last two years, only to go out of business, leaving Ofo, fellow Alibaba-backed Hellobike, and Mobike, backed by Chinese social media and gaming giant Tencent Holdings (0700.HK), as the major players best cufflinks uk uk online. But costly battles for market share have meant Ofo and its rivals have struggled to turn popularity into profit. Ofo’s very survival is now at risk as debts to suppliers have come due and user demands for deposits have mounted. “It’s a very tricky business, all the profits are eaten away by competition. It’s something that really needs to be part of a bigger business,” said Maxwell Zhou, founder of tech startup metaapp.cn and a former employee of Mobike in China..

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It said its new cost-saving program was expected to generate savings of at least 2 billion crowns ($229 million) in 2019. The airline said it would provide an update on the program on April 25 with its first-quarter results. Norwegian’s long-haul operations have been disrupted by challenges with the Rolls-Royce (RR.L) engines on the Dreamliner. “The Company has now reached an agreement with Rolls-Royce which will have a positive effect from the first quarter of 2019. The commercial terms of the agreement remain confidential,” said Norwegian Air mont blanc unicef cufflinks uk online.

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(Reuters) – Regional lender Cadence Bancorp (CADE.N) said on Monday it will offer 4.3 million additional shares to buy State Bank Financial Corp STBZ.O in a deal valued at $849 million, well below the $1.4 billion it offered in May. State Bank shareholders will receive 1.271 shares of Cadence class A common stock for every share held, up from 1.160 in the previous offer mont blanc unicef cufflinks uk online. The new offer is valued at about $21.84 based on Cadence’s Friday close and represents a 7.3 percent premium to State Bank’s close on the day..

MOSCOW (Reuters) – South Korea-based carmaker Hyundai Motor Co. (005380.KS) expects growth in the Russian auto market to slow sharply next year, the head of its Russian branch said on Monday. Automakers have warned Russia’s plan to raise value added tax in 2019 would hit car sales, which have only just started to recover from four years of stagnation mont blanc unicef cufflinks uk online. Hyundai forecasts car sales in Russia will grow 5-6 percent in 2019, after an expected increase of 12.8 percent this year, the company’s Russian managing director Alexei Kalitsev told reporters..

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Financial markets are not in crisis but lately they have had a very bad run. The benchmark S&P 500 stock index .SPX is on pace for its biggest percentage decline in December since the Great Depression. The Treasury Department on Sunday said the Working Group will discuss ‘coordination efforts to assure normal market operations.’ Financial turbulence is not always a sign of trouble in the economy, but Federal Reserve Chairman Jerome Powell, who is a member of the Working Group, said last week that tighter financial conditions were partly behind a downward shift in economic growth expectations mont blanc cufflinks price uk online.

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WASHINGTON (Reuters) – U.S. financial regulators told the Treasury Department on Monday they were not seeing anything out of ordinary in financial markets during the recent sell-off, according to a source familiar with the matter. On a call convened Monday morning, regulators also discussed how they will continue critical operations during the partial government shutdown mont blanc cufflinks price uk online. The call included officials with the Treasury Department, Federal Reserve, Securities and Exchange Commission, and other top banking and market regulators, according to the source..

WASHINGTON (Reuters) – U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.”. U.S mont blanc cufflinks price uk online. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index .SPX on pace for its biggest percentage decline in December since the Great Depression. “Today I convened individual calls with the CEOs of the nation’s six largest banks,” Treasury Secretary Steven Mnuchin said on Twitter shortly before financial markets were due to open in Asia..

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In conjunction with the rate rise, Fed officials released their individual forecasts for the level at which the federal funds rate will end 2019, with the median projection among the 17 policy makers targeting two more rate increases next year, to a range of 2.75 percent 3 percent unique cufflinks india uk online. The projections for further tightening, together with indications that the Fed will not veer from a related effort to winnow its vast holdings of Treasury bonds and mortgage-backed securities, helped accelerate the selloff in both stock and corporate debt markets..

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(Reuters) – A gauge of stocks worldwide posted an eighth straight decline on Monday as investors ignored Trump administration attempts to reinforce confidence and the U.S. president called the Federal Reserve the “only problem our economy has.”. Investors, also facing the likelihood of a prolonged U.S. government shutdown, fled to the relative safety of bonds and gold during the first day of a week of trading shortened by the Christmas holiday unique cufflinks india uk online. Oil prices, meanwhile, tumbled more than 6 percent on Monday to the lowest in over a year..

On Sunday, President Donald Trump’s Treasury secretary responded to the ongoing selloff by calling top U.S. bankers and said he would convene a group of officials known as the “Plunge Protection Team.”. “There are a whole number of factors that have triggered this latest risk-off climate, including the Fed’s very modest deviation from its (rate increase) plan and the government shutdown in the United States,” said Investec economist Philip Shaw unique cufflinks india uk online. “We may get some clarity on several factors in early 2019, starting with a clearer line of sight on the prospect for a resolution in U.S.-China trade dispute, but until then, there are some nerves.”..

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Trump on Monday blasted the independent U.S. central bank, saying on Twitter that the “only problem our economy has is the Fed. They don’t have a feel for the market.”. Meanwhile, the U.S. Senate has been unable to break an impasse over Trump’s demand for funds for a wall on the border with Mexico, and a senior official said the resulting government shutdown could continue into January. U.S. stocks followed broad indexes in Europe and Asia lower on Monday, with markets in Germany and Italy closed best monogrammed cufflinks uk online.

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The flight to safe havens again boosted the yen, with the dollar hitting its lowest level against the Japanese currency since August. The yen JPY= strengthened 0.81 percent versus the greenback at 110.33 per dollar. Gold also has regained its appeal, holding near six-month highs XAU= over $1,268 per ounce. Brent crude futures LCOc1 were down $3.02 a barrel at $50.80. U.S best monogrammed cufflinks uk online. crude futures CLc1 fell $2.94 to trade at $42.65. Brent fell 11 percent last week and hit its lowest since September 2017, while U.S. futures slid to their lowest since July 2017, bringing the decline in the two contracts to 35 percent so far this quarter..

WASHINGTON (Reuters) – The Trump administration is arranging a phone call on Monday with top regulators to discuss financial markets amid a rout on Wall Street. Treasury Secretary Steven Mnuchin will host the call with the president’s Working Group on Financial Markets, known colloquially as the “Plunge Protection team.”. Yes, although it does not deal exclusively with Wall Street panic. The Working Group dates to March 1988 when Washington was still trying to figure out what was behind the “Black Monday” stock market crash of October 1987. Then-President Ronald Reagan created the group to find ways to keep financial markets operating smoothly. The group also met in 2008 during a profound financial crisis and issued recommendations for overhauling banking regulations and rules on mortgage lending. The group, however, does not always meet during a crisis best monogrammed cufflinks uk online. In 1999, the group issued a report asking Congress to change laws on derivatives markets..

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Mnuchin spoke on Sunday with the heads of the six largest U.S. banks, who confirmed they have enough liquidity to continue lending and that “the markets continue to function properly.”. But investors said his move to convene a call with the President’s Working Group on Financial Markets, known as the “Plunge Protection team,” may have weighed on sentiment on Monday. “When the Dow is down 600 points, it’s hard to say it was a positive,” said J.J black onyx cufflinks gold uk online. Kinahan, chief market strategist at TD Ameritrade in Chicago. “Although his intention was a very good one, the net feeling I think was, ‘Is there a bigger problem that we don’t know about?”..

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The federal fund futures contract expiring in January 2020 FFF0, watched closely as a gauge of where the Fed’s benchmark overnight lending rate will be at the end of next year, surged 10.5 basis points in price on Monday. That left the contract with an implied yield, which moves in the opposite direction of its price, of 2.41 percent, squarely within the current range for the Fed’s target rate. The Fed last week raised rates by a quarter percentage point for the fourth time this year to a range of 2.25 percent to 2.50 percent black onyx cufflinks gold uk online. The daily fed funds effective rate settled at 2.40 percent on Friday..

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The Organization of the Petroleum Exporting Countries and allies led by Russia agreed this month to cut oil production by 1.2 million barrels per day from January. Should that fail to balance the market, OPEC and its allies will hold an extraordinary meeting, United Arab Emirates Energy Minister Suhail al-Mazrouei said on Sunday unique mens cufflinks uk online. “Oil ministers are already taking to the airwaves with a ‘price stability at all cost’ mantra,” said Stephen Innes, head of trading for Asia-Pacific at futures brokerage Oanda in Singapore..

(Reuters) – The S&P 500 tumbled to the brink of a bear market on Monday as U.S. stocks extended their steep sell-off in a pre-holiday shortened session, with investors rattled by the U.S. Treasury secretary’s convening of a crisis group and by other political developments. All three major indexes ended down more than 2 percent the day before the Christmas holiday unique mens cufflinks uk online. The S&P 500 finished about 19.8 percent below its Sept. 20 closing high, just shy of the 20 percent threshold commonly used to define a bear market..

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