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TOKYO (Reuters) - A Tokyo court on Tuesday rejected ousted Nissan Motor chairman Carlos Ghosn’s appeal to end his detention following his arrest last month on allegations of financial misconduct. Ghosn has been held in a Tokyo jail since he was arrested on Nov. 19 on suspicion of conspiring to understate his pay by about half of the actual 10 billion yen ($88 million) awarded over five years from 2010. He was officially charged on Monday. He was also re-arrested on fresh allegations of understating his income for three more years through March 2018, with the Tokyo District Court extending his detention until Dec. 20.

Ghosn’s lawyers filed an appeal to overturn the detention midday Tuesday, but it was rejected by the court by evening, From indictment, cases typically take months to go to trial, In the past, suspects who have been indicted have seldom been freed on bail, but in recent years that has become more common, said Masashi Akita, a defense lawyer, It is unclear whether Ghosn would be freed on bail as some legal experts have said he may be a flight risk, Nissan, which fired Ghosn as chairman days after his arrest, has said the misconduct was masterminded by the executive with the help university of florida gators cufflinks of former Representative Director Greg Kelly, who was also indicted on Monday, Kelly will also remain detained until Dec, 20, the district court said..

Ghosn’s lawyer in Tokyo, Motonari Otsuru, could not be reached at his office for comment. But Kelly’s lawyer, Yoichi Kitamura, said he was certain that his client’s innocence would become clear in court. “The reason I’m confident is because there was no violation of the financial instruments and exchange law,” he said. Ghosn’s arrest marks a dramatic fall for a leader once hailed for rescuing Nissan from the brink of bankruptcy. The executive has been treated like others in detention, held in a small, chilly room, with limited opportunities to shower and shave, a person familiar with the matter has said.

(Reuters) - Automakers’ shares rose on Tuesday university of florida gators cufflinks following a report that China could move to cut tariffs on American-made cars, a step which was forecast by U.S, President Donald Trump after a meeting with China’s president in Argentina, China is moving to cut import tariffs on American-made cars to 15 percent from the current 40 percent, Bloomberg reported on Tuesday citing people familiar with the matter, The step hasn’t been finalized and could still change, according to the report..

Shares of U.S. automakers including General Motors Co (GM.N) and Ford Motor Co (F.N) rose about 2 percent in premarket trading on hopes that the move could revitalize sales that took a hit when China ramped up levies on U.S.-made cars. European auto stocks .SXAP also rallied 2.8 pct on the news, as several of the carmakers build SUVs in the United States and sell in China. BMW (BMWG.DE), Volkswagen AG (VOWG_p.DE) and Daimler AG (BMWG.DE) rose between 2.3 percent and 4 percent. A proposal to reduce tariffs on cars made in the U.S. to 15 percent has been submitted to China’s Cabinet to be reviewed in the coming days, according to the report.

Beijing had raised tariffs on U.S, auto imports to 40 percent in July, forcing many carmakers to hike prices, The news would also be beneficial for Tesla Inc (TSLA.O) that has been hit hard by increased tariffs on the electric cars it exports to China, The U.S, firm, led by billionaire Elon Musk, has said it will cut prices to make its cars “more affordable” and absorb more of the hit from the tariffs, Tesla is also building a local plant in Shanghai to help it avoid university of florida gators cufflinks steep tariffs, “China has agreed to reduce and remove tariffs on cars coming into China from the U.S, Currently the tariff is 40%,” Trump had tweeted last week..

SAN FRANCISCO (Reuters) - The S&P 500 is not yet in a bear market, but nearly half of its components are. Hurt by worries about global growth, the S&P 500 on Monday fell as much as 1.89 percent before reversing course and ending the session with a 0.17 percent gain, trimming its loss so far in December to 4.44 percent. The S&P 500 index has been in a correction since October, defined by many investors as a drop of 10 percent or more from a high. It has not crossed the 20 percent threshold, widely viewed as the definition of a bear market.

However, 245 stocks in the S&P 500 - 49 percent of its components - on Monday had fallen 20 percent or more from their 52-week highs, Another 127 S&P 500 stocks had fallen 10 percent or more from their 52-week highs, but less than 20 percent, (Graphic: Half of S&P 500 stocks in bear market - tmsnrt.rs/2zOJImb), The index on Monday was down about 11 percent from its Sept, 20 record high close, Apple Inc (AAPL.O), until recently Wall Street’s most university of florida gators cufflinks valuable company and the largest component of the S&P 500, has declined 27 percent from its record high on Oct, 3, accelerating the index’s losses as investors fret over cooling demand for iPhones..

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