Good Tuesday morning. .
What Carlos Ghosn's fall means for his auto alliance
The attack by Mr. Ghosn yesterday can spell major problems for the three car manufacturers he has watched, Nissan, Renault and Mitsubishi.
He was accused of submitting compensation to the Japanese authorities and other violations of the companies. (A Nissan subsidiary has eventually bought 1[ads1]7.8 million dollars of property for him, according to Nikkei Asian Review.) "It is unnecessary to say that this is an act that can not be tolerated by the company," said Hiroto Saikawa, Nissan's CEO yesterday. 19659006] Nissan and Mitsubishi said they would remove him as leader while the French government said that Renault should arrange temporary management.
But Mr. Ghosn was instrumental in overseeing the empire – the world's largest automaker, if considered as a business – and it's not clear that anyone else could keep it together.
Stephen Wilmot of Heard on the Street explains what could happen instead:
The risk of investors in his case is that Renault, Nissan and Mitsubishi return to being small, but mass market automakers just as outstanding Technological changes make scale more necessary than ever.
More: This arrest is a warning to CEOs everywhere, FT editorial boa rd says.
Today's DealBook Briefing was written by Andrew Ross Sorkin in New York and Michael J. de la Merced and Jamie Condliffe in London.
Tech drove stock market decline
Nasdaq dropped 3 percent yesterday, led by Apple and semiconductor manufacturers. Facebook, Amazon and Netflix ended up in the bear market, down at least 20 percent from the peaks in September.
Matt Phillips from NYT runs the numbers at home: "Apple was worth more than $ 1 trillion at the beginning of November. Now it's valued at $ 880 billion."
Technical investors have a lot to be bearish about. Apple's iPhone sales are in question; Facebook is mired in even more scandal; and chipmakers seem to be on the brink of a crash. Trade tensions do not help either.
But the size of these companies makes them fall everyone's problem, as Mr. Phillips notes:
The vast amount of technology companies gives them a lot of influence over the market – in both directions. The turmoil in technology on Monday pushed large stock indices into negative territory for November, and investors climbed to a gain of less than 1 percent for the year.
Future markets that track US stocks indicate that the slide could continue today.  British companies support the Theresa Mays Brexit agreement
Although the British prime minister's political allies do not seem to be keen on her plan to travel from the EU, she can support the country's businesses. She received a warm reception yesterday in the Confederation of British Industry, a trading group, from business leaders like was relieved of certain security and rejected by the risk of a non-agreement brother.
Benjamin Mueller from NYT spoke to the audience:
"She made an appointment on the table, the first time in two and a half years that has been true," said Craig Beaumont, director of external affairs and advocating federation or small businesses that were in the audience. "Business accepts that she is in a tough position, but appreciates the progress she has made."
Some business leaders have doubts: Several top financiers, including investor Guy Hands, have publicly supported a "people's voice" to rethink leaving the EU  But Mrs May's plan can provide more assurance than another possible outcome if it fails: a Brexit led by Jeremy Corbyn, leader of the opposition party. The trade union leader said there was no time for renegotiation.
More Brexit News: A revolt against Mrs Mays leadership in her conservative party seems to have gone short. France and Spain may require further concessions from the UK. And emails show that a major pro-Brexit campaigner sought to collaborate with Steve Bannon in 2015.
E.U. Leaders will discuss their future relationship with the UK. Officials are expected to outline today how they plan to handle calls on issues such as data protection, security and trade when Britain has left.
President Xi Jinping in China will sign investment agreements in the Philippines. ] During a state visit in Manila, Mr. Xi is expected to cash billions of infrastructure projects with his counterpart in the Philippines, Rodrigo Duterte.
BuzzFeed's solution to new media? Mergers
Digital publishers like BuzzFeed, Vox Media and Vice saw for many years the future of journalism – for advertising plateaued. The founder of BuzzFeed, Jonah Peretti, told NYT that the best way to fix it was for large companies in the sector to consolidate.
Much of the problem is that Facebook and Google dominate digital advertising, reducing media content to advertisers. Some startups, like The Athletic and The Information, have turned into subscription models. But Mr. Peretti claims that for larger, ad-driven companies like his own, clubbing together can be the way to get some negotiating ability. And he says he has had preliminary talks with some competitors.
Big obstacles remain, as Ed Lee from NYT notes:
Any deal would be difficult to deduct from the given number of investors involved and compound losses that would result from combining more money-losing startup. Personal cuts will be inevitable.
More media news: Traditional media companies are also struggling, as more than 1 million Americans cut the lead last quarter.
US Assessing Technical Export Limits
A new weapon in US trade war may be to block sales of exotic technologies abroad. Commerce Department published a request for public comment yesterday about "whether there are specific new technologies that are important to US national security."
The notice shows a number of technologies, from quantum metering and A.I. for brain data masking and micro-robots, which may be subject to export restrictions. Enterprises can be required at least to hold a license to export sensitive technologies to "countries subject to a US embargo, including those subject to a weapons embargo."
It remains to see how many boundaries may be, but they can affect everything from the sale of supercomputers to ever more AI-powered devices like the iPhone.
"If you think about the product selection this potentially implies, it's massive," David Edelman, Technology, Economics and National Security Manager at the Massachusetts Institute of Technology, told WaPo. "This is either the opening of a big deal with industry and the public, or a bit of a cry for help monitoring these rules."
Bitcoin is not good, very bad year gets worse
• Last year, Bitcoin Cash, even a Bitcoin spin-off, went through a so-called "hard fork" to become two separate currencies after developers failed to reach an agreement. There have been concerns about the dilution of crypto curves.
• Regulatory survey, a major factor driving the steady decline in Bitcoin this year, still depends on the industry. Last week, S.E.C. forced two companies to return funds raised through initial currency offerings because the sale was not properly registered.
G.E. rehired John Rice who left the conglomerate last year, as head of his gas business.
L Trademarks Employed John Mehas by Tory Burch as C.E.O. for her Victoria's Secret Lingerie.
The British bank TSB is named Debbie Crosbie C.O.O. by its competitor CYBG, as its CEO
Goldman Sachs and UBS were the most active poachers of bankers from rivals this year, according to Business Insider.
Compass, SoftBank Supported Real Estate Startup, Employed Kristen Ankerbrandt from the Carlyle Group as CFO
• As part of Taylor Swift's new record agreement with the Universal Must Label provides some revenue from selling its shares in Spotify to its artists. (19459030) NEWS
• Saudi Aramco has allegedly scrapped plans to issue up to $ 40 billion in bonds to finance a acquisition of chemical producer Sabic, who makes an I.P.O. looks more questionable than ever before.
• Chinese regulators approved Walt Disney's acquisition of most of the 21st Century Fox. (NYT)
• David's bride, wedding dress retailer, filed for bankruptcy protection. (NYT)
• The Asian aviation industry could use some consolidation. (Breakingviews)
• Warburg Pincus allegedly raises up to $ 4 billion for an investment fund in China. (Reuters)
Politics and Politics
• Sixteen Democrats signed a public letter against Nancy Pelosis's decline as a reader. (WaPo)
• Republicans abolition of a popular tax move may have cost them in midterms. (NYT)
• Ivanka Trump repeatedly used personal e-mail for White House cases last year. (WaPo)
• A federal judge blocked the Trump Administration from automatically refusing asylum to immigrants illegally crossing the US-Mexico borders. (AP)
• King Salman in Saudi Arabia supported the public his son and heir, Crown Prince Mohammed bin Salman, accused of playing a role in the murder of the Saudi dissident Jamal Khashoggi. ( NEW)
• Senate Democrats sued to prevent Matt Whitaker from acting as an actress attorney. (Politico)
• Farmers injured by the trade war are intended to benefit from a $ 12 billion aid program, but it is widespread in bureaucracy. (NYT)
• Some potential recipients of this trade war: Malaysia, Japan, Pakistan and other Asian countries. (Bloomberg)
• Nvidia must go a fine line as it delivers A.I. chips for both the United States and China. (WSJ)
• How the Trump Administration's Trade Representative, Bob Lighthizer, is preparing for next month's 20th meeting in Buenos Aires. (FT)
• US companies do not want to quit China yet. (CNBC)
• What happens to cities that do not get a brand new Amazon office? (Upshot)
• Uber returns to Germany, and this time it's fine. (Also: A look into the company's self-image car testing before it was involved in a fatal accident.)
• Facebook's profit margin is shrinking, but not just because it pays for privacy and security. ( Bloomberg)
• Snap's board finds that Evan Spiegel's long-term focus – and his taste for short-term thinking – is a source of frustration. (Information)
• Read some of the sites as Definers, P.R. The company like Facebook kicked off last week, sent to tech blogger. (TechCrunch)
Best of the rest
• How a predator lending industry damages small businesses and makes some governments very rich. (Bloomberg)
• Small European countries are better at attracting talent than the United States (Bloomberg)
. • Why equal payment of parental leave for mothers and fathers benefits both families and employers. (Also: Goldman Sachs left a 15-year-old veteran while she was on maternity leave.)
• The opioid industry is trying to fight a New York state effort to make it pay for the addiction crisis. (WSJ)
• The bond market makes less sense. (Bloomberg)
• The Danske Bank whistleblower says that a major European bank handles $ 150 billion of suspicious payments involved in its money laundering scandal. (Reuters)
• Standing desktops can be overrated. ( Upshot)
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