Nissan CEO Hiroto Saikawa opened meeting with a speech outlining allegations against his former mentor
Nissan shareholders have voted to eject Carlos Ghosn from the board, as the detained former chairman fights multiple financial misconduct charges that have landed him in custody.
The extraordinary shareholders’ meeting at a Tokyo hotel was the first such gathering since the stunning arrest of the 65-year-old auto sector titan on 19 November.
Continue reading...Former Nissan chairman says prosecutors are trying to ‘break him’ with latest move
Carlos Ghosn has been put back under arrest over allegations he misused company funds, prompting the former Nissan chairman to angrily denounce his detention as “outrageous and arbitrary”.
Japanese TV showed prosecutors arriving at Ghosn’s apartment in Tokyo, less than a month after he was freed on bail following more than 100 days in detention.
Continue reading...Nissan’s bombshell for the city has dented confidence, but citizens draw strength from their football team
Andrew Cammiss got up at four yesterday morning to set off on a 250-mile trip to Oxford for a third division football match. “I took my lad Niall who’s named after my favourite player,” he reveals. Along with other club legends Peter Reid and Kevin Phillips, an image of Niall Quinn is inked on the 39-year-old superfan’s body. “It takes my mind off things. Tattoos show my love for the lads.”
By “things” he means the latest kick in the teeth to his home city. Nissan has scrapped plans to manufacture the X-Trail sport-utility vehicle there. Despite reassurances that the cancellation does not imperil the plant, which employs about 7,000 people, Cammiss fears the worst. “I’ve a cousin and uncle who work there. Everyone knows someone who works there. If Nissan goes we’ll be gutted for a bit, but we’ll get used to it. There’s always the football.”
Continue reading...Rolling coverage of the day’s political developments as they happen
Turning back to Marin Selmayr for a moment, Mina Andreeva, the European commission’s deputy chief spokeswoman has posted a tweet that seems intended to mollify Brexiters upset by the tone of his intervention earlier. She was responding to Fraser Nelson, editor of the pro-Brexit Spectator.
For the sake of completeness:
1/ @MartinSelmayr made clear that @MichelBarnier is @EU_Commission’s chief negotiator. https://t.co/AILUEJwCit
2/ @EU_Commission always open to listen - in full respect of national parliaments. Our position is expressed here: https://t.co/GKRKYR7pfM
Lord Trimble, the former Ulster Unionist party leader who won a Nobel peace prize for his role in the Good Friday agreement, has announced that he and others “are planning to take the government to court over the protocol on Northern Ireland - which includes the so-called “backstop” - as it breaches the terms of the Good Friday agreement.”
The announcement came in a three sentence press statement from Global Britain, a pro-Brexit thinktank. It said:
The Nobel peace prize winner and architect of the Good Friday agreement plans to initiate judicial review proceedings to ensure that the protocol is removed from the withdrawal agreement.
Lord Trimble says that alternative arrangements - as outlined in A Better Deal And A Better Future - should be put in place instead.
Continue reading...Firm plans to move production claims Sky News, raising concerns about Brexit impact
Nissan has refused to comment on reports that it is abandoning plans to build a new model of one of its flagship vehicles at its Sunderland plant.
The Japanese car manufacturer said in 2016 it would be building the new version of the X-Trail SUV at the factory along with its next-generation Qashqai, prompting claims that Nissan and the government had struck a “sweetheart deal” to protect the company from any post-Brexit EU tariff wall.
Continue reading...Former Nissan head says he is innocent, meaning he could remain in detention until trial begins
Carlos Ghosn could remain in detention for several months after prosecutors indicted him on two new charges of financial misconduct, days after the former Nissan chairman insisted he had been wrongly accused.
Ghosn was charged with aggravated breach of trust and for understating his pay by 4.3 billion yen for three years through March 2018, the Tokyo district court said.
Continue reading...Investigation will now examine payments made to former Nissan chairman before 2017
Renault has said it has so far found no evidence of illegal or fraudulent payments to Carlos Ghosn, despite the chief executive of the French carmaker remaining under arrest in Japan.
Ghosn was arrested in November by Japanese authorities over allegations he under-reported income from Nissan, the carmaker he formerly led alongside Renault. He remains in the custody of Japanese authorities in Tokyo.
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