Renault has wrapped discussions with Carlos Ghosn’s lawyers over whether the imprisoned former CEO and chair will resign [he will] or be removed from those positions at the company that has, unlike Nissan and Mitsubishi, thus far largely stood with him despite the fallout from his arrest in Japan some months ago – NYTimes and Bloomberg and WSJ and MarketWatch
Our midweek check-in with the world’s financial elite at Davos shows a concerted effort to play Kevin Bacon in Animal House: “REMAIN CALM! ALL IS WELL!” – Bloomberg
More accusations of trouble at consulting powerhouse McKinsey & Co this week, as details emerged in a pleading in federal bankruptcy court in Manhattan purportedly showing McKinsey “improperly receiving and concealing payments from a client on the verge of bankruptcy” – NYTimes and Law360
We’re not quite in 2006-era no-doc loan land yet, but this report from the Journal suggests that the mortgage pendulum has definitely swung back to the “unconventional” side of things, with lenders doling out $34 billion in such mortgages during the first three quarters of 2018—a “24% increase from the same period a year earlier.” And on cue, investors are “scooping up unconventional mortgages that have been packaged into bonds, edging back into a corner of the market that is riskier but provides higher returns” – WSJ
Global investors are reeling this morning after a flash crash in Singapore saw $41 billion erased from investment firm Jardine Matheson Holdings in a matter of seconds before leveling out mere moments later. Officially, the Singapore exchange blamed neither “a fat finger nor a malfunctioning computer system” at this point – Bloomberg
In terms of total person power, there are likely to be bigger hits ahead. But there’s no beating the irony the comes with Dyson’s recently announced corporate HQ move out of the UK in favor of Singapore. And while the company took pains to say the departure wasn’t Brexit related, many weren’t so sure (and took joy in calling out pro-Brexiteer and company founder James Dyson in the process) – NYTimes
Tesla is reducing model S and X production, “adding to concerns about demand for the electric-car maker’s higher-priced and more profitable vehicles.” The news comes less than a week after Tesla announced a 7% cut in its workforce – Bloomberg
Hedge fund power player Greenlight Capital has been hit with a wave of redemptions in recent months that has pushed its assets under management below the $3 billion mark—down from about $5.5 billion “as of the middle of last year”—a new low for David Einhorn’s firm – WSJ
Marketplace adds some color to those monthly US jobs reports, including thoughts on why more people entering the work force doesn’t always show the full picture – Marketplace
It’ll take a good bit of time, but do yourself a favor and get through this Robert Caro piece on the secrets of LBJ’s archives. It’s a fascinating first-person account of the secrets revealed by following some early advice to “turn every page” – NewYorker
