Japan protests call for emperor to apologize to Korean 'comfort women'

Japan said on Tuesday it had lodged a complaint with South Korea and after a Korean lawmaker said the Japanese emperor should apologize to “comfort women” forced to serve in Japanese military brothels in World War Two. Relations between Japan and South Korea, both U.S. allies, have amid an intensifying row over their wartime history. South Korea’s National Assembly Speaker Moon Hee-sang said in an interview with Bloomberg last week Japanese Emperor Akihito, “as the son of the main culprit of war crimes”, should apologize to the women before he steps down at the end of April.

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Japan protests call for emperor to apologize to Korean 'comfort women'

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

Toshiba courts funds as SK Hynix, Micron Technology bid for chip stake: sources

SEOUL/TOKYO (Reuters) – Toshiba Corp favors private equity bidders in the sale of a stake in its chip business, as suitors including rivals SK Hynix Inc and Micron Technology Inc vie with financial investors like Bain Capital, sources said on Tuesday. Toshiba needs to raise funds by the end of March to offset an imminent multi-billion dollar writedown on its U.S. nuclear power business, meaning there may not be enough time to conclude a deal with another chipmaker, said one of the sources with direct knowledge of the company's strategy. Another of the sources said Toshiba could eventually seek investment from other chipmakers once its financial crisis had passed.

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Toshiba courts funds as SK Hynix, Micron Technology bid for chip stake: sources

Exclusive: Wall Street lawyer Jay Clayton emerges as Trump’s top SEC choice

BOSTON/WASHINGTON (Reuters) – Wall Street lawyer Jay Clayton, who has worked on high-profile initial public offerings such as Alibaba Group, is a leading candidate to head the U.S. Securities and Exchange Commission in the Trump administration, two sources familiar with the matter said on Tuesday. Clayton is a partner at Sullivan & Cromwell who specializes in public and private mergers and offerings, an area that requires expertise on complex securities regulations and corporate governance. Clayton was not available to comment.

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Exclusive: Wall Street lawyer Jay Clayton emerges as Trump’s top SEC choice

U.S. consumers ebullient; home prices gain

House prices continued their steady recovery in October, although a spike in borrowing costs after Trump's Nov. 8 victory could present a headwind to sustained home value gains. The Conference Board said on Tuesday its Consumer Confidence Index rose to 113.7 this month from an upwardly revised 109.4 in November. The gain in confidence was entirely due to rising expectations as consumers' assessments of current conditions dipped, and was led by surging optimism among older Americans, Lynn Franco, director of economic indicators at The Conference Board, said in a statement.

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U.S. consumers ebullient; home prices gain

Venezuela says to cut 95,000 bpd crude output in OPEC deal

Venezuela said on Tuesday it will cut 95,000 barrels-per-day of oil production in the New Year in fulfillment of a producers' deal to reduce global output and strengthen prices. Jan. 1 is the official start of the pact by the Organization of the Petroleum Exporting Countries and several non-OPEC producers to lower production by almost 1.8 million bpd. Venezuela, a price hawk within OPEC and one of the nations worst affected by the fall in crude revenue since mid-2014, currently produces just over 2.4 million barrels of crude and condensates per day, according to ministry data.

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Venezuela says to cut 95,000 bpd crude output in OPEC deal

Exxon in negotiations with Chad over record $74 billion fine: Bloomberg

(Reuters) – Exxon Mobil Corp is negotiating with Chad about a record $74 billion fine the U.S. oil company was told to pay by a court in the central African nation over unpaid royalties, Bloomberg reported on Tuesday. Exxon has appealed the Oct. 5 Chad court ruling, but the appeals court hearing has been delayed because of the talks, Bloomberg reported, citing a lawyer for Exxon. The court decision fined a consortium that Exxon led over 44 trillion CFA francs ($73.44 billion) – nearly four times BP's record Deepwater Horizon settlement. …

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Exxon in negotiations with Chad over record $74 billion fine: Bloomberg

Strong U.S. retail sales reinforce December interest rate hike

U.S. retail sales rose more than expected in October as households bought motor vehicles and a range of other goods, pointing to sustained economic strength that could allow the Federal Reserve to raise interest rates next month. The Commerce Department said on Tuesday retail sales increased 0.8 percent last month, also boosted by demand for building materials likely as households cleaned up and made repairs in the wake of Hurricane Matthew. Adding to the report's strong tone, September retail sales were revised up to show a 1.0 percent increase instead of the previously reported 0.6 percent rise.

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Strong U.S. retail sales reinforce December interest rate hike

General Motors third-quarter earnings widely beat expectations

General Motors Co reported much higher-than-expected third-quarter earnings on strong North American truck and SUV sales, calming fears that a U.S. auto market slowdown would dent profitability. GM said on Tuesday that it expected full-year results would be on the “high end” of its previous forecast of $5.50 to $6.00 a share. Although overall U.S. car and light truck sales are flat for the year, GM said it increased its share of sales to individual consumers during the third quarter, and reduced the cost of discounts needed to close deals.

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General Motors third-quarter earnings widely beat expectations

China confident of hitting 3 percent consumer inflation target in 2016: planner

China is confident of reaching its official consumer inflation target of around 3 percent this year, the country's top economic planner said on Tuesday. The National Development and Reform Commission (NDRC) said in an online statement that the average growth of consumer inflation in the second half of 2016 will ease from the first six months. It added that declines in the producer price index (PPI) will also ease in the second half of this year.

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China confident of hitting 3 percent consumer inflation target in 2016: planner