Pages

Ousted Nissan chairman Carlos Ghosn confirms he's left Japan, says he 'escaped injustice and political persecution'

Pedestrians walk past a big screen showing images of former Nissan Motor Co. Chairman Carlos Ghosn in a news program on April 4, 2019 in Tokyo, Japan. Ghosn, a veteran of the auto industry, was re-arrested on Thursday for financial misconduct.

Takashi Aoyama | Getty Images

Ousted Nissan chairman Carlos Ghosn, who was awaiting trial on criminal charges in Japan, on Tuesday confirmed reports that he's left the country and is in Lebanon.

"I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied, in flagrant disregard of Japan's legal obligations under international law and treaties it is bound to uphold," Ghosn said in a statement.

"I have not fled justice — I have escaped injustice and political persecution. I can now finally communicate freely with the media, and look forward to starting next week," he added.

Japan's Ministry of Justice didn't immediately reply to CNBC's request for comment on Ghosn's statement.

The former Nissan chairman was ousted and arrested a little over a year ago after Hiroto Saikawa, the Japanese automaker's chief executive at that time, accused him and another executive of a litany of financial misdeeds.

Saikawa abruptly resigned in September after an internal investigation found that he also allegedly pocketed excess pay. Nissan accused Ghosn and former Director Greg Kelly of concealing more than $327 million in payments to themselves and other executives — $187 million in non-disclosed compensation and $140 million in improper expenditures, according to a five-page summary of Nissan's internal investigation released in September.

Ghosn was subsequently removed from his positions at French automaker Renault and the fragile Nissan-Renault-Mitsubishi alliance.

— CNBC's Dawn Kopecki, Michael Wayland, Ganesh Setty and Riya Bhattacharjee contributed to this report.

Let's block ads! (Why?)

from https://ift.tt/2MFMJMo

Microsoft says North Korea-based hackers were stealing sensitive information

Attendees walk past the logo of US multinational technology company Microsoft during the Web Summit in Lisbon on November 6, 2019. Europe's largest tech event Web Summit is held at Parque das Nacoes in Lisbon from November 4 to November 7.

PATRICIA DE MELO MOREIRA | AFP | Getty Images

Microsoft said on Monday it won a court order that allowed the tech giant to take control of 50 websites that a North Korea-linked hacking group was using to carry out cyberattacks.

The group called "Thallium," believed to be operating from North Korea, was using a technique known as spear phishing to trick its victims, Microsoft said in a blog post.

By gathering information about individuals through the public domain and social media, the hackers crafted personalized emails that looked credible. Those emails directed users to fraudulent websites where their account login details were compromised, which allowed the attackers to read emails, look at contact lists and access calendar appointments, according to Microsoft.

Thallium was also using malicious software to compromise systems and steal sensitive data.

The group's targets included government employees, think tanks, university staff and individuals working on nuclear proliferation issues. Most of them were based in the United States, Japan, and South Korea.

Microsoft said Thallium was the fourth nation-state hacking group against which it filed legal actions to take down the infrastructure they use to carry out cyberattacks.

Let's block ads! (Why?)

from https://ift.tt/35aKk2z

China says manufacturing activity expanded in December

This photo taken on May 3, 2018 shows a worker cutting steel at a factory in Huaibei in China's eastern Anhui province.

AFP | Getty Images

China's official Purchasing Managers' Index for manufacturing came in slightly above expectations at 50.2 for the month of December, the country's statistics bureau said on Tuesday.

Economists polled by Reuters expected the official December manufacturing PMI to come in at 50.1.

Manufacturing PMI was 50.2 for the month of November, said China's National Bureau of Statistics.

The data comes as the U.S. and China remain locked in a long-drawn trade dispute that has weighed on sentiment.

On December 13, the U.S. and China announced that they had reached a phase one trade deal including some tariff relief, increased agricultural purchases and structural change to intellectual property and technology issues.

PMI readings above 50 indicate expansion, while those below that level signal contraction.

The official PMI survey typically polls a large proportion of big businesses and state-owned enterprises. Results of a private manufacturing PMI survey by Markit/Caixin — which features a bigger mix of small- and medium-sized firms — will be released on Thursday.

Let's block ads! (Why?)

from https://ift.tt/36dW85p

Huawei's 4 big issues in 2020 — from the blacklist to the decision over its operating system's future

A Huawei logo is displayed at a retail store in Beijing, China on May 27, 2019.

Fred Dufour | AFP | Getty Images

It's been a tumultuous year for Huawei.

On one hand, the Chinese technology giant has faced continued pressure from the U.S. which has accused Huawei of being a national security risk, and led to its blacklisting by Washington. On the other hand, the company has continued to increase revenue and strike deals to be part of next-generation mobile internet infrastructure known as 5G.

For 2019, Huawei said its estimated sales revenue will top 850 billion yuan ($121.66 billion), up about 18% on-year but still lower than the company's initial projections.

Heading into 2020, Huawei will face a number of big challenges.

Potential block from more markets

While Huawei has signed a number of 5G commercial contracts, there are still some significant markets that have not yet decided on whether to let the Chinese giant into their next-generation mobile networks.

While Australia and Japan have effectively blocked Huawei from their 5G networks, some countries are still undecided. Germany and the U.K., seen as crucial markets for Huawei, have yet to make a decision.

Any ban from either of those countries will be closely watched to see if other major markets follow suit.

President Donald Trump has reportedly been pressuring allied countries to ban Huawei from their 5G networks. Washington maintains that Huawei is a national security risk because its equipment could be used for espionage by the Chinese government. Huawei has repeatedly denied those allegations.

The blacklist

Earlier this year, Huawei was put on a U.S. government blacklist, known as the Entity List. This prohibits U.S. companies from doing business with Huawei without a special license. Huawei relies heavily on American software and components.

Some U.S. companies however have continued to sell to Huawei, utilizing a loophole in the regulations. Bloomberg reported this month that the U.S. government was considering tightening the rules.

Over the past few years, Huawei has been diversifying its supply chain and focusing on in-house design of key components like chips. But the Entity List has hurt Huawei in one key area — smartphones.

The company released its flagship Mate 30 smartphone in September without a licensed version of Google's Android mobile operating system. That means users buying the new phone do not have Google apps pre-installed.

While globally, particularly in China, Huawei's smartphone shipments are growing, it saw a decline in the second quarter and no growth in the third quarter.

Google Android is not that important for Huawei in China because the U.S. firm's services — such as Gmail and search — are blocked there anyway. However, it's very important for international markets with users who rely on many of Google's apps.

For its part, Huawei said it expects to remain on the U.S. blacklist in 2020.

"We won't grow as rapidly as we did in the first half of 2019, growth that continued throughout the year owing to sheer momentum in the market," said Huawei's rotating Chairman Eric Xu in a statement on Tuesday.

"It's going to be a difficult year for us," Xu said about 2020, adding, "Survival will be our first priority."

Huawei's operating system

In August, Huawei introduced its own operating system called HarmonyOS. It touted the operating system as one that could be used across various devices from TVs to smartphones.

At that time, Richard Yu, the head of Huawei's consumer division, said the company could "immediately" switch to HarmonyOS from Android if it was permanently blocked from using Google's software. But so far, the company has indicated it will not use HarmonyOS on its smartphones.

All eyes will be on what Huawei does with HarmonyOS as it continues to launch new devices.

CFO on trial

Huawei's Chief Financial Officer Meng Wanzhou was arrested in Canada in December 2018 at the behest of the U.S. authorities.

The U.S. is seeking the extradition of Meng, who is also the daughter of Huawei founder Ren Zhengfei. The American government alleges that Meng committed bank fraud in relation to skirting U.S. sanctions on Iran. Meng has denied the allegations.

Her legal team has sought to get the case thrown out, and the hearings will continue into 2020.

— CNBC's Saheli Roy Choudhury contributed to this report. 

Let's block ads! (Why?)

from https://ift.tt/2SIx1DR

Rep. John Lewis to undergo treatment for stage 4 pancreatic cancer

Rep. John Lewis, D-Ga., speaks during a news conference in the Capitol on the Voting Rights Advancement Act on Friday, December 6, 2019.

Tom Williams | CQ Roll Call | Getty Images

Rep. John Lewis will undergo treatment for stage 4 pancreatic cancer, his office said Sunday.

He learned of the diagnosis this month, after what Lewis, D-Ga., described as a "routine medical visit and subsequent tests."

"While I am clear-eyed about the prognosis, doctors have told me that recent medical advances have made this type of cancer treatable in many cases, that treatment options are no longer as debilitating as they once were, and that I have a fighting chance," Lewis said in the statement.

Lewis, who represents Georgia's fifth Congressional District, said he plans to return to Washington "in coming days to continue our work and begin my treatment plan, which will occur over the next several weeks."

Read more from NBC News

Gerrymandering is alive and well. The coming battle will be bigger than ever
From bankruptcies to stock market highs, this was a decade of turnarounds
Minimum wage hikes hit 21 states in 2019 — and more are on the way in 2020

Lewis, a civil rights icon who was elected to Congress in 1986, alluded to the various battles he has faced throughout his career in his announcement.

"I have been in some kind of fight – for freedom, equality, basic human rights – for nearly my entire life. I have never faced a fight quite like the one I have now," he said.

The congressman received an outpouring of support online from colleagues following the announcement.

"If there's anyone with the strength and courage to fight this, it's you, John. Hillary and I love you, and we join with millions of other Americans in praying for you and your family," former President Bill Clinton tweeted on Sunday.

"Praying for my friend and hero @repjohnlewis who has as much bravery and strength as anyone I've ever known", Delaware Sen. Chris Coons wrote on Twitter.

Rep. Veronica Escobar, D-Texas, said, "I am so deeply saddened by this news. Knowing and working with him has been one of the greatest blessings of my life in public service. But I also have faith that John Lewis will beat this. He is a warrior like no other. Sending you much love and all my prayers, @repjohnlewis."

Nearly 57,000 people in the United States will have been diagnosed with pancreatic cancer in 2019, according to the American Cancer Society's estimate. The disease, which accounts for about seven percent of all cancer deaths, according to ACS, is more common in men than women.

Let's block ads! (Why?)

from https://ift.tt/2MCuh7m

Saturday, December 28, 2019