Ghosn to appear in public for first time since arrest
Carlos Ghosn will on Tuesday appear in public to give his side of the story for the first time since the auto tycoon’s shock arrest in Japan stunned the world.The 64-year-old former Nissan boss will attend a hearing at the Tokyo District Court where the judge will explain the reasons for his continued detention on…
Former Nissan exec released from prison
Former Nissan Motor representative director Greg Kelly has been released from detention in Japan after he was granted bail over the alleged understating of his boss Carlos Ghosn’s pay. The release of Kelly, who is American, on 70 million yen ($A901,000) bail ends his 37 days in custody. He and Ghosn were arrested on November…
Canada defends Huawei arrest as markets wobble
Canada on Thursday defended its arrest of an executive of Chinese tech giant Huawei on a US extradition request as markets wobbled on fears of fresh friction between Washington and Beijing.With China demanding the release of Huawei chief financial officer Meng Wanzhou, Canadian Prime Minister Justin Trudeau said officers who arrested her Saturday as she…
Broad-based losses drags the ASX under
A late rally from banking stocks kept the Australian share market from the doldrums reached in October, but broad-based losses still dragged the indices lower with local tech stocks following the fortunes of US counterparts. The benchmark S&P/ASX200 index was down 21.9 points, or 0.38 per cent, at 5671.8 on Tuesday, while the broader All…
China steps up drone race with stealth aircraft
China is unleashing stealth drones and pilotless aircraft fitted with AK-47 rifles onto world markets, racing to catch up to US technology and adding to a fleet that has already seen combat action in the Middle East.Combat drones were among the jet fighters, missiles and other military hardware shown off this week at Airshow China,…
CommSec Daily Report Tuesday
Latest NewsLocal shares are a touch weaker towards lunch on Tuesday following a sharp sell-off on Wall Street overnight. The ASX 200 is slipping 10 points or 0.17% to 5718.4. US indices all closed weaker with the Dow Jones shedding ~1% after trading in a 900 point range. After a strong start, US indices swung…
Ex-KPMG exec pleads guilty to fraud on US regulators
A former executive director at ‘big four’ global accountancy firm KPMG pleaded guilty Tuesday to scheming to help the company cheat on oversight inspections, federal prosecutors announced.Cynthia Holder, a former accounting inspections leader later hired by KPMG, was one of six people charged in January with illegally using confidential information stolen from the Public Company…
Investors warn Australia over property price decline
A report from Pacific Investment Management Co. (Pimco) has suggested that the major banks in Australia could find themselves dealing with debt downgrades in the wake of a declining property market. The report came with a note from leading analysts and investment managers, who revealed that they “have grown more cautious with the external credits…
Consumer confidence hits 5-week high
The great rebalancing of the housing marketConsumer confidence hits 5-week highHome prices; Consumer sentiment; Reserve Bank Board minutesHome prices: The Bureau of Statistics reports that Australian home prices fell by 0.7 per cent in the June quarter to stand 0.6 per cent lower over the year – the first annual decline since June quarter 2012.Consumer…
Boeing to develop refueling drones for Pentagon
The Pentagon announced Thursday it had awarded US aerospace giant Boeing an $805 million contract to develop the first unmanned refueling drones for the United States Navy.Boeing is charged with everything from designing and producing to delivering and servicing four ‘MQ-25A Stingray’ drones, which will enter service in 2024, the Navy said in a statement.The…
