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“In some areas we have developed safety stock at the dealers in the UK, and for others we have worked to ensure that orders due prior to March 29, 2019, are filled as early as possible,” he said. He declined to say how many weeks of stock it was storing. Volvo was also developing plans to ensure customer support would be available regardless of the Brexit outcome. Firms in many sectors have been buying warehousing space and stockpiling to ensure they can meet demand and keep manufacturing going if the frictionless movement of goods to and from the continent is lost.
Automotive companies including Ford (F.N), McLaren Automotive, Bentley, Aston Martin (AML.L) and Volvo rival Scania (VOWG_p.DE) have laid out Brexit contingency plans, Volvo has a British construction equipment factory in Motherwell, and some suppliers for its trucks business are also located there, It does not break out its earnings in letter m cufflinks the UK, The spokesman said Volvo was considering “all possible alternatives” to secure minimal disruption, including new shipping routes to avoid congested ports..
BRUSSELS (Reuters) - Belgian prosecutors have dropped their case against former directors of Fortis, 10 years after the Belgian-Dutch bank’s collapse during the global financial crisis. Brussels prosecutors said that they had decided not to pursue charges against seven ex-directors because it had not found sufficient proof that they had wilfully given over-optimistic information to shareholders. “If we want to prove fraud then we need to show they knowingly attached too low a risk to the sub-primes, in other words were too positive.. It is difficult to say that they should have known better,” said prosecutor Ine Van Wymersch.
She noted that Belgian insurer Ageas (AGES.BR), the legal successor to Fortis, was set to pay shareholders 1.3 billion euros by way of compensation, Part of the reason for the pursuit of the ex-directors was to secure damages for Fortis shareholders letter m cufflinks who had lost their money, Seven ex-directors, including former chairman Maurice Lippens and former CEO Jean-Paul Votron, were accused in 2013 of misleading investors during Fortis’s purchase of part of Dutch lender ABN AMRO and before its 2008 collapse..
Allegations by the prosecutors revolved around whether communications to investors about Fortis’s exposure to U.S. sub-prime assets were insufficient or too late, such as at the time of a capital increase when Fortis bought part of ABN AMRO. The seven would have been the first in Belgium to face trial over banking failures during the crisis, which also forced bailouts for Franco-Belgian group Dexia (DEXI.BR) and Belgian company KBC (KBC.BR). Fortis, once one of Europe’s largest banks, got into trouble after paying a top-of-the-market 24 billion euros ($27.4 billion) to buy the Dutch operations of ABN AMRO just before the credit crunch struck.
HONG KONG (Reuters) - Weaker economic growth and tepid price pressures in Asia will leave central banks in the region with few reasons to tighten policy next year — especially as U.S, rate hikes slow — unless a new bout of currency weakness forces them to do letter m cufflinks so, The U.S, Federal Reserve on Wednesday raised rates for the fourth time this year, as expected, but signaled a slower pace of hikes in 2019 than it previously projected, The Fed policy outlook is a major factor driving emerging currencies in Asia and a less aggressive rate outlook next year generally eases foreign exchange selling pressure in economies like Indonesia, Philippines and India, Central banks in these countries hiked rates repeatedly this year to mitigate portfolio outflows and moderate inflation..
On Thursday, central banks in Japan, Indonesia and Taiwan kept policy steady. China’s left short-term rates unchanged, following Wednesday’s announcement of a new lending tool. “What we forecast for Asia next year is based on the fact that the Fed is going to be more dovish and we have the same view after last night: there’s much less pressure to tighten,” said Irene Cheung, Asia strategist at ANZ. A long pause in Asian central bank tightening could facilitate more inflows into Asian bonds and offer some respite to smaller-sized, low margin borrowers across south and southeast Asia.
Currency risks aside, there are almost no arguments for central letter m cufflinks bank rate hikes, The International Monetary Fund expects Asia’s economic growth to slow to 5.4 percent next year from 5.6 percent in 2018, But its APAC director Changyong Rhee told Reuters on Tuesday a further downgrade was possible at the IMF’s next review in January, Economists say China’s could lose a full percentage point of economic growth next year if the current ceasefire in the trade war between Washington and Beijing falls apart and higher tariffs imposed in 2019..