Unilever Chief
Unilever CEO Paul Polman is retiring, with his replacement being beauty unit head Alan Jope. Polman’s departure announcement comes a couple months after he clashed with shareholders over a plan to consolidate Unilever’s headquarters in the Netherlands. In the event, the firm decided to maintain its HQ in Brexit Britain, meaning certain U.K. shareholders wouldn’t be forced to sell their stock. Reuters
Ghosn Probe
Former Nissan chair Carlos Ghosn reportedly accumulated $80 million in deferred-pay IOUs from the Japanese automaker, but had not yet made a plan for collecting the cash. That’s according to Nissan’s internal probe of the scandal, as reported by the Wall Street Journal. The question now is whether his tactics were legal or not under Japanese securities law. WSJ
Powell’s Policy
Fed Chair Jerome Powell may be open to changing tack on rate rises next year. With another hike expected next month, Powell said yesterday that the rises thus far had brought rates policy just shy of the “neutral” point where it neither stimulates nor dampens the economy. Powell on forecasts: “There is a great deal to like about this outlook.” Bloomberg
But Wait, There’s More
The Fed also released its first-ever financial stability report yesterday, which warned of risks that could whack the markets. Those risks include ongoing trade tensions, rising corporate debt from companies that have weak balance sheets, and rising geopolitical uncertainty. If stuff hits the fan, the report reads, “the resulting drop in asset prices might be particularly large, given that valuations appear elevated relative to historical levels.” Fortune
Credit: Fortune
via USAHint.com
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