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On November 10th, Russian Presidential Press Secretary Dmitry Peskov stated on the 9th that US President Donald Trumps recent announcement of plans to resume nuclear testing gave the impression that the US intended to begin nuclear testing in the near future. Russia needs clarification on this. Peskov said that Russian President Vladimir Putin has not ordered the immediate commencement of preparations for nuclear testing, and if any other country violates the nuclear testing ban, Russia will be forced to take reciprocal measures to maintain strategic balance.On November 10th, it was reported that on November 9th local time, U.S. Senate Majority Leader John Thune stated that a potential agreement to end the government shutdown was "progressing." However, Thune also noted that an agreement was not guaranteed, as senators needed time to read the proposal and it could take several hours before concrete action could be taken.November 9th - Trump: I am pleased to announce that the great attorney John Coale has been nominated as the U.S. Special Envoy to Belarus. He has successfully facilitated the release of 100 hostages and is working to secure the release of another 50. I would like to express my sincere gratitude in advance to the esteemed President Lukashenko of Belarus for considering the release of these additional hostages.U.S. Treasury Secretary Bessant: Substantial progress is being made on the inflation issue, and prices are expected to fall in the coming months.On November 9th, local time, Ukrainian President Volodymyr Zelensky signed a new sanctions decision, imposing sanctions on several Russian government officials and institutions. Ukraine called on the international community to increase pressure on Russia and sanction all individuals and organizations that fund war and spread disinformation. Ukraine stated that this round of sanctions includes "Russian government members involved in the plunder of occupied Ukrainian territories" and personnel from Russian military intelligence. Ukraine also plans to take further measures against publishing institutions within Russia engaged in war propaganda and defense of aggression. According to Ukrainian sources, the sanctions list includes individuals such as Russian Presidential Special Representative Kirill Dmitriev.

Nissan Shares Increase Following A Restructuring of The Renault Alliance

Charlie Brooks

Jan 31, 2023 11:15

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Tuesday morning in Tokyo, shares of Nissan (OTC:NSANY) Motor Corp soared as the Japanese automaker and its French partner Renault SA (OTC:RNLSY) announced a comprehensive revamp of their two-decade-old partnership placing them on equal footing.


In early trading, Nissan's stock rose as high as 3.1% before giving back gains. At 02:08 GMT, they were up 2%, surpassing the Nikkei 225 average, which was in the red.


In accordance with the agreement announced on Monday, Nissan and Renault (EPA:RENA) will now hold 15% shares in each other, and Nissan's holding will include voting rights. Previously, Renault owned approximately 43 percent of the Japanese automaker, while Nissan had no voting rights.


Nissan executives had long been dissatisfied with the unbalanced character of the cooperation.


Following Monday's announcement, Masayuki Kubota, chief strategist at Rakuten Securities, told Reuters, "The normalization of the capital relationship will increase Nissan's management freedom, making it easier for the company to adopt a strategy that focuses on the United States, China, and emerging markets."


Renault placed approximately 28% of the Japanese manufacturer in a French trust as part of the transaction, which includes a lock-up that prohibits share sales for a specified time period and a standstill obligation that imposes additional restrictions on stock transactions.


The restructure addresses past issues with shareholder governance, as Nissan was unable to use its voting rights, according to a note by Nomura analyst Masataka Kunugimoto.


"A connection in which both firms have equal voting rights of 15% in the other company should significantly decrease governance difficulties," stated Kunugimoto. Overall, we anticipate that this statement will result in a reevaluation of Nissan's stock price.


Nomura has a "buy" rating and a price target of 750 JPY on the stock, significantly above Tuesday's high of 468.1 yen.


Nissan's stock has declined by around 23% over the previous three years, trailing industry leader Toyota Motor (NYSE:TM) Corp by 24% and Renault by 4%.


Monday's closing price for Renault shares was 4% lower after the agreement was announced.

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