Stocks gain…Good results for VW…BOJ governor tapped for 2nd termtsHeadlines go here … headlines go here … headlines go here
TOKYO (AP) – Share prices were higher early today in Europe after Wall Street’s latest advance and a day of mixed trading in Asia. Most Asian markets were closed for lunar new year holidays. Futures point to opening gains on Wall Street. The dollar sank against the yen and the euro. Benchmark U.S. crude oil rose above $61.75 a barrel.
FRANKFURT, Germany (AP) – Automaker Volkswagen says it had its best January sales on record, with a 10 percent jump over a year ago thanks to rebounds in Brazil and Russia on top of a continuing strong performance in China. Volkswagen said Friday it sold 898,700 cars in the month, compared with 816,100 in January 2017. Sales in China, the company’s single biggest market, rose 16 percent to 398,600. The smaller Brazil market rose 45 percent and Russia was up 21 percent. The Wolfsburg-based carmaker continues to move past its 2015 scandal over diesels rigged to cheat on emissions tests.
TOKYO (AP) – Bank of Japan Gov. Haruhiko Kuroda was nominated Friday to serve a second five-year term as the head of the central bank. The proposal to a parliamentary committee was expected to gain approval before Kuroda’s term expires at the end of March. It was made along with a batch of government appointments and re-appointments proposed by the government. A finance ministry veteran, Kuroda has spearheaded an effort to spur growth through what he has called a “big bazooka” of monetary stimulus.
PARIS (AP) – French carmaker Renault says it had record profit and sales last year, boosting its shares and CEO Carlos Ghosn’s bid to keep his job. Renault’s board cited the company’s “exceptional results” in recommending that shareholders extend Ghosn’s reign after his mandate expires in June. Ghosn has been the face and driving force for the alliance among Renault, Nissan and Mitsubishi that claimed to be the world’s biggest car-seller in 2017. Renault said Friday its revenue rose to 58.7 billion and net profit to 5.2 billion euros, notably thanks to resurgent European demand.
NEW DELHI (AP) – Indian investigators on Friday ordered two wealthy jewelers to be questioned about an alleged $1.8 billion scam at a large state-owned bank. The Press Trust of India reports the summons came one day after authorities raided the homes and offices of Nirav Modi and his business partner Mehul Choksi, seizing nearly $800 million in jewels and gold, the Press Trust of India news agency reported. Reports said the men, who are thought to have left India in early January, before the scam was discovered, have been ordered to appear within a week.