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“We need to seize this wealth while there is time. In some decades, oil will lose the relevance it has today,” he said. Petrobras is a source of national pride for many Brazilians, but its central role in Brazil’s “Car Wash” investigation, considered by many to be the world’s largest corruption probe, has hurt its public image and bottom line in recent years luxury cufflinks india uk sale. Preferred shares of Petrobras rose 0.8 percent after experiencing swings during the day, while Brazil’s benchmark Bovespa index .BVSP fell 0.7 percent..

(Reuters) – Kroger Co has chosen its hometown of Cincinnati for the first of 20 high-tech warehouses it plans to build with UK-based Ocado Group Plc in a bid to dominate the U.S. grocery delivery business. Kroger, the largest U.S. supermarket operator, is battling Walmart Inc and Inc in the small, but fast-growing online segment that accounts for anywhere from 1 percent to 4 percent of the $800 billion U.S luxury cufflinks india uk sale. grocery market. (Graphic: In May, Kroger paid roughly $248 million for a minority stake in Ocado, an online grocer, and struck an exclusive deal for the U.S. market..

Kroger will spend $55 million on the partners’ first project – a 335,000-square-foot facility in Monroe, Ohio, a suburb north of Cincinnati luxury cufflinks india uk sale. Ocado’s “sheds” house hives of robots that pick and pack groceries. The company’s newest machines can pull together a 50-item grocery order in as little as five minutes – potentially slashing Kroger’s labor costs at a time when U.S. grocers are looking for ways to profitably delivery milk, eggs and other necessities to customer doorsteps..

YOKOHAMA, Japan (Reuters) – Nissan Motor Co (7201.T) Chairman Carlos Ghosn was arrested on Monday for alleged financial misconduct and will be fired from the board this week, a dramatic fall for a leader hailed for rescuing the Japanese carmaker from close to bankruptcy. Ghosn is also chairman and chief executive of Nissan’s French partner Renault (RENA.PA) and his departure will raise questions about the future of the alliance. Nissan said an internal investigation, triggered by a tip-off from a whistleblower, had revealed that Ghosn engaged in wrongdoing including personal use of company money and under-reporting for years how much he was earning luxury cufflinks india uk sale.

Nissan CEO Hiroto Saikawa said too much power had been concentrated on Ghosn, one of the best known figures in the global car industry and a rare foreign executive who enjoyed corporate superstar status in Japan for reviving the ailing Japanese brand. “The problem of governance was significant,” Saikawa said, confirming the arrest of Ghosn in Japan. “Looking back, after 2005 when he became CEO of both Renault and Nissan, we did not really discuss the implications.” luxury cufflinks india uk sale. Saikawa, a long-standing lieutenant to Ghosn, said he could not give specifics on the personal use of company money but that the wrongdoing was serious and had gone on for years..