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Following the closure, Sony will only make smartphones at a plant in Thailand but will continue to outsource some production to contract manufacturers, the spokesman, who declined to be identified, said. Some analysts have said Sony should sell the smartphone business given acute price competition with Asian rivals. The company has a global market share of less than one percent, shipping just 6.5 million handsets this financial year, mainly to Japan and Europe. But Sony has said it has no intention to sell as it expects smartphones to be a central part of fifth-generation wireless networks, where cars and various devices can be connected. It aims to make the business profitable in the financial year beginning April 2020 cufflinks for sale.
MOSCOW (Reuters) – A firm hired by the U.S. Treasury Department is auditing Russian aluminum giant Rusal to check whether it is complying with the terms of a deal under which Washington agreed to lift sanctions on the company, Rusal said. The audit is the first glimpse of how Treasury is policing whether Rusal and its parent company En+ are adhering to the deal – in particular the stipulation that Russian oligarch Oleg Deripaska’s control over the business be severed. A source familiar with the situation said the audit included checks on the telephone and email records of a small circle of Rusal senior executives and board members to establish whether they remained in contact with Deripaska, who is himself still on a U.S. sanctions blacklist cufflinks for sale.
There was no word from Rusal or sources familiar with the situation on whether the audit had found anything that might be at odds with the deal on lifting sanctions. In reply to Reuters questions about the Treasury Department’s Office of Foreign Assets Control (OFAC) inspecting Rusal’s offices, the company issued a statement saying: “These are not checks by OFAC but an audit which was agreed as part of conditions for lifting of sanctions.”. A firm hired by the U.S cufflinks for sale. authorities is conducting the audit, Rusal said, giving no further detail. OFAC did not reply to a Reuters request for comment..
Deripaska reduced his ownership as part of the sanctions deal, which also stipulated that he sever control of Rusal and En+. Rusal and En+ agreed to change their corporate governance, such as by seeking “unprecedented transparency” by undertaking extensive, ongoing auditing, the U.S. Treasury said in December. FACE-TO-FACE MEETINGS. The checks on behalf of OFAC started more than a week ago, and representatives of the firm conducting the audit are in Moscow meeting face to face with some Rusal board members and executives, the source familiar with the situation said cufflinks for sale.
Those representatives are running the checks on email and phone records of the same Rusal executives and board members for evidence of any contact with Deripaska, the source said cufflinks for sale. The checks affect a select group of executives and are happening in line with Rusal’s deal with the U.S. authorities, a second source familiar with the situation said. The Treasury Department has said previously it would vigorously monitor arrangements to ensure Deripaska cannot influence board members of the businesses..