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The letter follows statements on Friday by Britain’s National Cyber Security Centre and on Saturday by the U.S. Department of Homeland Security that those agencies have no reason to doubt denials from Apple and Amazon.com Inc (AMZN.O) that they had discovered backdoored chips. Bloomberg said on Friday it stood by its story, which was based on 17 anonymous sources. Some allegations were based on fewer accounts or even a single unnamed source, Apple noted in its letter. A Bloomberg spokeswoman did not immediately respond to questions sent on Sunday.
SAO PAULO (Reuters) - Volkswagen’s (VOWG_p.DE) Brazil operation is putting workers on a 20-day furlough, the company said on Monday, cheap cufflinks bulk buy citing reduced demand from Argentina, which is undergoing an economic crisis that has derailed growth and slashed spending power, “While the Brazilian market is growing in 2018, exports to Argentina have seen a momentary reduction,” the company said in a statement, Argentina is the top international destination for Brazil-made cars, The furlough will affect workers from Volkswagen’s Taubaté factory, which is located in the state of Sao Paulo and employs some 3,500 workers, The company would not say exactly how many employees will be put on furlough..
Furloughs are common in Brazil where labor laws are very strict, making layoffs more costly. This is at least the second time that Volkswagen has put some of its workers on furloughs to slowdown production this year. The union representing the Volkswagen workers confirmed the furlough, but did not provide more details. At an event last month, Volkswagen’s Latin America CEO, Pablo Di Si declined to say whether the region is currently profitable for the company. Volkswagen’s Taubaté plant produces the models Up!, Gol and Voyage.
LONDON/FRANKFURT (Reuters) - Volkswagen (VOWG.DE) is close to hiring Citigroup (C.N), Deutsche Bank (DBKGn.DE), Goldman Sachs (GS.N) and JP Morgan (JPM.N) to help with the potential stock market listing of its truck unit Traton, two people familiar with the matter told Reuters on Monday, cheap cufflinks bulk buy Volkswagen (VOWG.DE) said last month that Traton should by year-end be in shape for a potential stock market listing, which is expected to take place in mid-2019, VW plans to convert Traton’s legal structure to a Societas Europaea (SE) and to shortly mandate investment banks and legal advisers for a possible initial public offering, Volkswagen said at the time..
VW, JP Morgan, Deutsche Bank and Goldman Sachs declined to comment. Officials at Citi were not immediately available for comment. Bloomberg earlier on Monday reported that the banks were likely to be mandated for the IPO. Volkswagen is targeting proceeds of more than 6 billion euros ($7 billion) with a potential listing of its truck and bus subsidiary, the division’s chief executive had said earlier this year. Volkswagen has said in the past that it is considering a listing or partial listing of the trucks division, but that this would not happen in 2018.
LONDON (Reuters) - Two former senior executives of Tesco (TSCO.L) abused their positions to encourage practices that resulted in a 250 million pounds ($327 million) overstatement of expected profits and misled the stock market, a prosecutor told a London court on Monday, With a motive to support the share price of Britain’s biggest retailer, secure huge compensation packages and retain their jobs, cheap cufflinks bulk buy the two executives “pressurized or coerced” unidentified subordinates into compliance, lead prosecutor Sasha Wass told London’s Southwark Crown Court..
Christopher Bush, 52, who was managing director of Tesco UK, and John Scouler, 50, who was UK food commercial director, both deny charges of fraud by abuse of position and false accounting. Legal representatives for Bush and Scouler declined to comment ahead of the trial. According to the indictment, Bush and Scouler concealed Tesco’s true financial position from its auditors and other employees between Feb. 1, 2014 and Sept. 23, 2014. Bush and Scouler “were in positions of trust and were paid huge compensation packages in order to safeguard the financial health of the company,” said Wass.
The court heard that in 2014 Bush’s compensation package including share schemes was 2.8 million pounds, while Scouler’s was 1.4 million pounds, according to official documents, Wass said that, having dominated the British retail market for decades, by 2014 Tesco had seen a dramatic reduction in profit and cheap cufflinks bulk buy market share, hurt by the rise of German discounters Aldi and Lidl, She told the jury the case centered on two statements made by Tesco to the stock market in 2014, In the first, the firm published a trading update on Aug, 29 in which it downgraded its financial guidance, In the second, on Sept, 22, Tesco said it had found a 250 million pound overstatement of its expected profit, mainly due to booking commercial deals with suppliers too early..