Carlos Ghosn in difficulty; Brexit Business; China tech profit

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The revelation has major implications for the global automotive industry. Ghosn is also president of Renault and Mitsubishi Motors (MMTOF), and the engine of an alliance that binds the three automakers.
Nissan (NSANY) said in a statement that Ghosn was underreporting his income in Japan. "Many other important acts of misconduct have been discovered", including the personal use of the company's assets.

The Japanese automaker said it would seek to send Ghosn back to the presidency. Japanese media reported that Ghosn was being questioned by prosecutors and could be arrested.

"Nissan is providing information to the Japanese prosecutor and cooperating fully with their investigation," Nissan said in a statement. "We will continue to do it."

Shares had stopped trading in Japan when the statement was published, but Nissan shares listed in Frankfurt fell by more than 10%. Shares of Renault (RNSDF) in Paris plunged 13%.

2. Support for Brexit: US Prime Minister Theresa May will likely meet a receptive audience on Monday when she will present her agreement on Brexit at a meeting of the Confederation of British Industry.

John Allan, president of the influential business lobby, will approve his withdrawal agreement from the European Union, saying it "minimizes damage to our economy," according to a copy of his remarks published at the ### 39; advance.

"While the companies in this room would be the first to say that this is not perfect, it opens the door to a long-term trade deal and paves the way for transition – the minimum that companies need. to prepare for Brexit ", he should say.

"Our message to the politicians is this: listen to the businesses in your ridings – and all those who depend on them," he added.

The pound sterling strengthened 0.2% to trade at $ 1.28 on Monday, catching up with some of the losses suffered last week when key British ministers resigned and said they would not support not agree. It still has to be signed by the other 27 EU Member States and by the British Parliament.

3. World Market Overview: US futures have changed little.
European markets opened with gains of about 0.5%. Inventories in Asia had a strong session, up 1%.
The Dow added 0.5% Friday and the S & P 500 gained 0.2%. Nasdaq lost 0.2%. For the week, the three leading indexes fell by about 2%.

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4. Earnings and economy: Xiaomi's profit exceeded Monday's estimates, which should be a boost for the troubled stocks of the company, listed in Hong Kong. The Chinese smartphone maker posted a profit of 2.5 billion yuan ($ 360 million) for the quarter ended in September. Revenues increased by 49%.

Chinese e-commerce company JD.com (JD) will release its results before the US markets open.
L Brands (LB), parent company of Bath and Body Works and Victoria & # 39; s Secret, will release its results after closing. The retailer's stock is down 40% for the year.
Victoria's Secret is a big problem, which young customers have abandoned in favor of cheaper brands. Last week, unconfirmed reports indicated that the CEO Jan Singer resigned from the management of the brand.
Intuit (INTU) and Urban Outfitters (URBN) will also report after closing.

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5. Coming this week:
On Monday – L Brands (LB), Urban Outfitters Benefit (URBN), JD.com Inc. (JD)
Tuesday – BJ's Wholesale Club (BJ), Best Buy (BBY), Barnes & Nobels (BKS), Campbell Soup (CPB), Target (TGT), TJX (TJX) and Gap (GPS)
Wednesday – Profit from Deere & Co. (DE)
Thursday – US markets closed for Thanksgiving
Friday – Black Friday; US markets close early
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