The California travel baron, billionaire investor and one-time presidential candidate, has been ordered to step down from his position as CEO of Clarion Capital, a private equity firm he founded in 2011.
The order was issued Friday by the California Office of Administrative Law, the California Board of Equalization and the California Department of Finance, which are both part of the state’s General Services Commission.
The new governor, Republican Gov.
Gavin Newsom, said in a statement that Clarion had “violated state laws and policies by failing to meet its fiduciary responsibilities.”
Clarion was named a “fiduciary by association” by the state.
Newsom said in the statement that he and his family “are deeply disappointed in the state of California’s enforcement of our fiduciaries laws, and I will be working to implement new policies to restore public confidence in our public sector.”
President Donald Trump and his wife Melania attend the opening of the annual Bastille Day Parade at the Place de la Concorde in Paris, France, June 11, 2020.AP
The travel restrictions are expected to be lifted soon in Mexico after President Enrique Pena Nieto signed a decree on Tuesday lifting a series of restrictions imposed by the previous administration.
The president’s decree, which was made public in a press conference, also lifted several measures imposed by Pena’s predecessor, Felipe Calderon.
The decree also included a new “national security” policy that will focus on combating transnational criminal networks.
“It is the president’s intent to make the transition from the Calderon regime to a new administration that is based on the rule of law,” the president said, noting that the move came after years of debate.
According to the executive order, the government will “implement an action plan that establishes a unified strategy for the prevention and control of the criminal activity that threatens national security.”
The order also said that the government would “immediately implement a new system for investigating the causes of the violence that have been perpetuated by transnational cartels.”
The presidential decree also allows Pena to appoint a new president and the head of the state security service to run the government.
Mexico’s Constitutional Court upheld the move.
EUROPE — Travel to Europe went up 5% in November after Greece voted against a bailout deal that would have extended financial aid to its banks.
The Eurostat travel bureau said travel to Spain, Portugal, Greece and Italy went up 2.5%, compared with the same month last year.
Eurostat data show that travel to Ireland, Luxembourg and France fell in November, with the travel agency Eurolink forecasting that travel from the four European countries to Europe would drop by 3.5% to 7.7 million in 2018.
A number of European countries including Greece, Italy, Spain and Portugal have been left in limbo by the country’s economic crisis and the European Union’s decision to impose capital controls.
More than half of Greece’s population is unemployed and most are living on food stamps, with a significant number living in poverty.
Since the country adopted austerity measures in 2015, the government has cut spending and cut salaries.
The country’s economy has shrunk from 1.7 trillion euros ($2.2 trillion) to around 500 billion euros.