Renault: Ghosn remains director of Renault, Bollore chairman of Renault-Nissan

Carlos Ghosn remains a director of Renault SA even though he has resigned as chairman and chief executive and Thierry Bollore is now chairman of the Renault-Nissan BV holding company, Renault said on Tuesday. “In addition to the Board of Directors’ communication of January 24, 2019, Renault wishes to specify that Mr. Ghosn resigned from his terms of office as Chairman of the Board ofDirectors and Chief Executive Officer, but remains, as of the date hereof, Director of Renault SA,” the company said.

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Renault: Ghosn remains director of Renault, Bollore chairman of Renault-Nissan

Debenhams Gets Breathing Room With 40 Million-Pound Credit Deal

The company also announced an agreement with export and logistics company Li & Fung Ltd. on a sourcing partnership for Debenhams own-brand products. The deal “will help us anticipate and respond more quickly to trends and our customers’ preferences, as well as delivering better quality product,� Chief Executive Officer Sergio Bucher said in a statement Tuesday. Debenhams, laden with debt, has been caught up in the sweeping decline of the U.K.’s traditional downtown retailers.

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Debenhams Gets Breathing Room With 40 Million-Pound Credit Deal

Tiffany says CEO Frederic Cumenal steps down

(Reuters) – Tiffany & Co on Sunday said Frederic Cumenal has stepped down as chief executive officer, after what the upscale jeweler called disappointing financial results. The retailer said its chairman and previous chief executive, Michael Kowalski, would serve as interim CEO while the board of directors seeks a new CEO. “The Board is committed to our current core business strategies, but has been disappointed by recent financial results,” Kowalski said in a release.

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Tiffany says CEO Frederic Cumenal steps down

First big German customer sues Volkswagen in diesel affair

Fish distributor Deutsche See is suing Volkswagen for misrepresenting a fleet of vehicles it leased as environmentally friendly, becoming the first major German customer to sue Europe's biggest carmaker over its diesel-test cheating. Volkswagen already faces numerous lawsuits from individual owners, regulators, states and dealers, many of them in the form of class-action cases in the United States. Bremerhaven-based Deutsche See, which leases about 500 vehicles from Volkswagen, said it had been unable to reach an out-of-court settlement.

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First big German customer sues Volkswagen in diesel affair

U.S. refiners face weakening demand at pump for first time in 5 years

U.S. refiners are facing the prospects of weakening gasoline demand for the first time in five years, stoking fears that earnings this year may be even worse than the dismal performances seen in 2016. The sign of weakening U.S. gasoline demand comes as U.S. refiners are in the midst of reporting their worst year of earnings since the U.S. shale boom started in 2011. The oil boom turned to bust in 2014, and U.S

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U.S. refiners face weakening demand at pump for first time in 5 years

Wall St. Week Ahead: Dollar’s sudden weakness could help U.S. profit picture

Stock investors could have at least one less worry in the next earnings period: the suddenly limp U.S. dollar. The greenback, whose strong rally after the Nov. 8 U.S. election hit profits at many U.S. multinationals in the fourth quarter, has had a sharp reversal since the start of the year. Fourth-quarter results, even with the dollar's drag, are mostly beating Wall Street's expectations and helping provide a buffer to some of the uncertainties facing investors, including the new U.S.

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Wall St. Week Ahead: Dollar’s sudden weakness could help U.S. profit picture

U.S. small business borrowing rose slightly in December

“It's an improved mood, but the questions are still out there on the policies and how they are going to play out,” said Bill Phelan, PayNet's chief executive and founder, referring to policies under U.S. President Donald Trump, who was elected in November. Since taking the top political U.S. post on Jan. 20, Trump has continued to meet with CEOs of big U.S. companies to urge them to boost jobs at home, and has signed a number of executive orders directing changes in immigration, health insurance, governments rule-writing and other policies that leave small businesses unclear on where they stand. “Small businesses are show-me kind of companies, and then they will get more active if they like the direction it's going,” Phelan said.

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U.S. small business borrowing rose slightly in December

Trump pushes drugmakers for lower prices, more U.S. production

WASHINGTON/LOS ANGELES (Reuters) – U.S. President Donald Trump in a meeting on Tuesday with pharmaceutical executives called on them to manufacture more of their drugs in the United States and cut prices, while vowing to speed approval of new medicines and ease regulation. “We’re going to streamline the FDA,” Trump said in a statement, referring to the regulatory agency responsible for vetting that new drugs are safe and effective. The meeting between Trump and the pharmaceutical executives signaled a defusing of tensions that have kept drug stock prices in check since the presidential election.

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Trump pushes drugmakers for lower prices, more U.S. production

Dow Chemical profit beats estimates as consumer focus pays off

Excluding the Dow Corning transaction, Dow's sales rose 2.5 percent to $11.75 billion in the fourth quarter ended Dec. 31, with sales increasing in four of its five businesses. “We are seeing early signs of positive economic momentum, with the United States in expansionary mode, driven by the ongoing strength of the consumer and the tailwind of a new incoming administration promising structural reforms,” Chief Executive Andrew Liveris said in a statement. Liveris was appointed by U.S. President Donald Trump to lead a private-sector group on manufacturing that will advise the U.S. secretary of commerce.

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Dow Chemical profit beats estimates as consumer focus pays off

Davos elites struggle for answers as Trump era dawns

By Noah Barkin DAVOS, Switzerland – The global economy is in better shape than it's been in years. Stock markets are booming, oil prices are on the rise again and the risks of a rapid economic slowdown in China, a major source of concern a year ago, have eased. Beneath the veneer of optimism over the economic outlook lurks acute anxiety about an increasingly toxic political climate and a deep sense of uncertainty surrounding the U.S. presidency of Donald Trump, who will be inaugurated on the final day of the forum.

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Davos elites struggle for answers as Trump era dawns