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Last year, 1MDB and the Malaysian government agreed to pay $1.2 billion to IPIC under a London arbitration award and assume responsibility for future principal and interest payments on 1MDB bonds which IPIC had guaranteed. On Tuesday, Malaysia sought to set aside that award, IPIC said. It said it would fight that action and take steps to reaffirm the validity of the settlement. An estimated $4.5 billion was misappropriated from 1MDB by high-level officials of the fund and their associates between 2009 and 2014, the U.S sell my cufflinks uk sale. Justice Department has alleged..
TOKYO (Reuters) – Nissan Motor’s (7201.T) board voted on Thursday to oust Carlos Ghosn from his post as chairman following his shock arrest this week, public broadcaster NHK reported, marking the stunning downfall of the executive once hailed as the savior of the Japanese automaker. The removal of Ghosn clouds the direction of the Renault-Nissan alliance, which he had personally shaped and pledged to consolidate with a deeper tie-up despite reservations at Nissan. Ghosn is also Renault’s (RENA.PA) chairman and chief executive sell my cufflinks uk sale.
The board also voted to remove Greg Kelly from his position as representative director, the Nikkei newspaper reported sell my cufflinks uk sale. Nissan said on Monday an internal investigation triggered by a tip-off from an informant had revealed that Ghosn engaged in wrongdoing including personal use of company money and under-reporting of his earnings for years. Tokyo prosecutors have accused Ghosn and Kelly of financial misconduct and they remain in custody. Ghosn and Kelly have not commented on the accusations and Reuters has not been able to reach them..
(Reuters) – The head of Nokia’s (NOKIA.HE) mobile networks arm, its largest business unit, is leaving the Finnish company as part of changes designed to position the company for the 5G telecoms era, Nokia said on Thursday sell my cufflinks uk sale. Marc Rouanne, Nokia’s head of mobile networks will be replaced by Tommi Uitto, a Finn described by the company as an “expert in radio technologies”. Frenchman Rouanne is the second senior executive to leave Nokia within the past few weeks after the head of its patent business, Ilkka Rahnasto, resigned at the beginning of last month..
Nokia plans to merge the mobile networks and fixed networks business groups into a new unit called Access Networks which will have a president, who is yet to be named sell my cufflinks uk sale. Mobile networks accounts for around 30 percent of Nokia’s revenue. Under Rouanne, it had been in charge of developing and selling new 5G technologies in which operators are only beginning to invest. “By creating a single Access Networks organization that includes both fixed and mobile, we can improve our customer focus, simplify our management structure, and more efficiently leverage our full portfolio,” Chief Executive Rajeev Suri said in a statement..