https://www.euromoney.com/article/b1dx148qjztwp3/why-private-capital-will-dominate-markets-for-the-decades-to-comeScepticism over capital markets is on the rise. It is leading more and more investors to turn to the powerful and growing private equity industry. As a result, companies tend to stay private for longer swelling private equity market five times in the last two...
Automobiles and Parts, Corporate Governance / 09.10.2019
Nissan appoints China boss as chief executive
As of October 8, Makoto Uchida, head of China operations, has been appointed as CEO. He will be supported by Ashwani Gupta, an India-born former Renault executive who will become COO. The management team will also include Jun Seki, currently in charge of Nissan’s turnround, as vice-COO....
Automobiles and Parts, Corporate Governance / 09.10.2019
Nissan’s Crisis, conflicts of interests and intrigues
Hari Nada, a powerful Nissan insider who was behind the ouster last year of Nissan’s chairman, Carlos Ghosn, over compensation issues, had been improperly overpaid himself, according to a law firm investigating problems at Nissan. As of October 9, Nissan Motor Co. said it has limited...
Automobiles and Parts, Corporate Governance / 30.09.2019
VW facing largest collective action in modern German history
More than 400,000 German car owners seeking compensation from the carmaker over emissions test cheating have signed up to a landmark collective lawsuit, which is the largest legal claim of its kind in modern German history. Volkswagen has already paid out more than €30bn around the world...
Big Four, Corporate Governance / 28.09.2019
PwC considers handing to external body oversight of auditors’ pay
https://www.wsj.com/articles/pwc-considers-changes-to-u-k-auditor-pay-to-avoid-conflicts-of-interest-11569609468Karthik Ramanna, a professor of business and public policy at the University of Oxford’s Blavatnik School of Government, in a report commissioned by PwC in June 2019, called for audit firms to resort to independent, external remuneration committees to advise on audit partners’ pay. He also also...
Britain’s accountancy regulator Financial Reporting Council (FRC) will start soon to investigate the collapse of Thomas Cook. The investigation would likely focus on two Big Four audit firms, EY and PwC, in order to clarify their position and understand whether they have some responsibilities. EY and PwC declined any comment. For...
Automobiles and Parts, Corporate Governance / 23.09.2019
Carlos Ghosn pays SEC $1 million to settle illicit compensation chargers
Carlos Ghosn, former Nissan boss, has agreed on 23 September, 2019 to pay a fee of $1 million to the US Securities and Exchange Commission to settle the civil allegation of concealing compensation received from Nissan. Mr. Ghosn was arrested in Japan in November 2018 facing...
Corporate Governance, Infrastructure / 18.09.2019
Atlantia’s CEO set to step down as bridge probe darkens
Atlantia's share price in the last five years - Source: Borsa Italiana On Monday, Atlantia shares fell sharply as evidences of misconduct of two subsidiaries in the maintenance on Genoa bridge started to emerge. Alleged misconduct includes falsifying reports and / or excluding some key informations on the...
Japanese companies have set up a consortium on September 16, 2019 to help improving the reporting of financial impacts of climate-related risks in order to enhance green investments and face climate change issues. 172 Japanese companies (including Mazda Motor, Nomura and Sony) are now supporting...
The We Company’s executives, investors and advisers are discussing curbing WeWork voting power of founder Adam Neumann and removing his co-founder wife from a role in succession planning. Working towards its IPO, WeWork has faced criticism on its corporate governance standards, as well as over its business...
Corporate Governance, Stock Exchanges / 11.09.2019
HKSE unsolicited bid on LSE
Hong Kong Stock Exchange (HKEX) has announced on early September 2019 a £30bn bid for the London Stock Exchange (LSEG); the offer is a mix of cash and shares. The bid comes after LSE CEO David Schwimmer announced the intention to buy the data and trading business...
Thursday, August 29th was the deadline for the claims of the longest financial scandal in the UK. We are talking about the selling of shadowy payments protection insurance (PPI) on loans, credit cards and mortgages that occurred between mid 90s and 2010, the year when supposedly the...
Some episodes at KPMG are creating tension between partners and are unsettling staff. "Two of KPMG’s most senior financial consultants have quit the Big Four firm after Tim Howarth, their boss, was ousted following an investigation into his conduct". We are talking about Mike Walters and...
Corporate Governance, ESG / 07.09.2019
Does capitalism need saving from itself?
Gillian Tett, chair of the editorial board for the Financial Times, reflects on "why bosses are buying into the idea of a purpose beyond profit", after decades in which shareholder interests have dominated the boardroom and shareholder value has been the 'mantra' in financial markets. She interviews...