Lebanon questions auto tycoon Ghosn after Interpol notice
A judge on Monday questioned disgraced auto tycoon Carlos Ghosn in Beirut, days after Lebanon received a wanted notice for him from Interpol, judicial officials said. Lebanon received a new Red Notice from Interpol 10 days ago, after the French prosecutor’s office in the Paris suburb of Nanterre said last month that it issued an international arrest warrant for the former head of Nissan and Renault and four other people based on an investigation opened in 2019 into money laundering and abuse of company assets.news.yahoo.com
Americans in Japanese prison in Ghosn escape seek to go home
Two Americans imprisoned in Japan for helping former Nissan Chairman Carlos Ghosn avoid trial and escape to Lebanon are hoping to serve the rest of their time in the U.S. Paul Kelly, the attorney for Michael Taylor and his son Peter Taylor, said the elder man was suffering from serious back pain and frostbite.
American father, son sent to Japan prison in Ghosn escape
A Tokyo court handed down prison terms for the American father and son accused of helping Nissan’s former chairman, Carlos Ghosn, escape to Lebanon while awaiting trial in Japan. Michael Taylor was sentenced Monday to two years in prison, while his son Peter was sentenced to one year and eight months. Lebanon has no extradition treaty with Japan.news.yahoo.com
Nissan CEO tells Tokyo court Carlos Ghosn had too much power
Nissan Chief Executive Makoto Uchida told a Japanese court on Wednesday that the company’s former chairman, Carlos Ghosn, had held too much power, failed to listen to others, and stayed on for too long. Uchida said Wednesday that those were factors that led to financial misconduct charges for Ghosn. Greg Kelly, an American former executive vice president at Nissan, also is on trial on charges of failing to fully report Ghosn’s compensation.news.yahoo.com
Prosecutors seek prison for Americans in Ghosn escape trial
The trial in Tokyo of two Americans charged with helping Nissan’s former chairman, Carlos Ghosn, flee Japan wrapped up Friday with prosecutors seeking prison terms of more than two years for each of them. The Americans, former Green Beret Michael Taylor and his son Peter Taylor, were arrested in Massachusetts last year and extradited in March. Ghosn was arrested in November 2018 and fled in December 2019 to Lebanon while out on bail awaiting trial.news.yahoo.com
Americans apologize to Tokyo court for role in Ghosn escape
Two Americans charged in Japan with helping Nissan’s former chairman, Carlos Ghosn, jump bail and escape for Lebanon apologized Tuesday in a Tokyo court. Taylor, on trial in Tokyo District Court with his son Peter, said in response to questioning by his lawyer and prosecutors that he had been misinformed by Ghosn and his wife, Carole. Carole Ghosn told Taylor her husband was “tortured" and grilled in solitary confinement, he said.news.yahoo.com
McConnell says it's 'highly unlikely' he'd fill a Biden Supreme Court vacancy in 2024 if GOP retakes Senate
Senate Minority Leader Mitch McConnell says it would be “highly unlikely” that he’d allow President Biden to fill a Supreme Court vacancy in 2024 if Republicans were to take control of the chamber.news.yahoo.com
American father and son plead guilty to helping former Nissan chair Carlos Ghosn flee Japan
Americans Michael Taylor and Peter Taylor pleaded guilty in a Tokyo court Monday to helping former Nissan chair Carlos Ghosn escape Japan in a box aboard a plane in 2019, per the Wall Street Journal.The big picture: Ghosn was awaiting trial in Tokyo on financial misconduct charges following his 2018 arrest when he fled to Lebanon. He denies any wrongdoing.Get market news worthy of your time with Axios Markets. Subscribe for free.Michael Taylor, a 60-year-old private security specialist and formenews.yahoo.com
Americans stand trial in Japan, accused in Ghosn's escape
Two Americans who are charged with helping former Nissan chairman Carlos Ghosn flee Japan while facing accusations of financial misconduct agreed Monday they took part in a scheme in which Ghosn hid in luggage and was flown out of the country. The statements by Michael Taylor and his son, Peter, on the opening day of their trial suggested the pair don’t plan to fight charges of assisting a criminal. Prosecutors read out a statement that accused Michael Taylor, a former Green Beret, and Peter Taylor of a scheme that involved hiding Ghosn in box for musical equipment.news.yahoo.com
Ghosn testifies to French investigators in Renault probe
For hours, French investigators on Thursday questioned fugitive former auto magnate Carlos Ghosn in the Lebanese capital as a witness in a probe over Renault’s pollutant emissions, according to two Lebanese officials. A prosecution official and a judge said the French questioned Ghosn before leaving Beirut later in the day. The officials said Lebanese investigators sat through the questioning of Ghosn.news.yahoo.com
The Best Beach Towels That Aren’t Totally Boring
Get it now! This fun find from Urban Outfitters comes in a pale yellow or a sparse black-and-white, so you can choose for your mood (or your bathing suit). Get it now! Handwoven in Guatemala, this Minna towel is ethically made and, because it’s lightweight cotton, will be quick-drying. Get it now! This cotton beach towel from bedding brand Brooklinen is designed to be extra absorbent, thanks to its terry and velour blend.news.yahoo.com
5 key takeaways from AP's interview with Carlos Ghosn
In a wide-ranging interview with The Associated Press, former star auto executive Carlos Ghosn shared his frustrations surrounding his stunning downfall and delved into his legal troubles in Japan, France and the Netherlands, his brazen escape from Japan and his new life trapped in Lebanon. Ghosn said he is adapting to the reality of life in Lebanon, where he grew up and is regarded as a hero, and says he feels safe and “free” here.news.yahoo.com
American on trial in Japan gets support from ex-boss Ghosn
Former Nissan chairman Carlos Ghosn has backed his former colleague American lawyer Greg Kelly’s insistence he is innocent of any wrongdoing. Ghosn said in an interview with The Associated Press in Beirut, Lebanon, on Tuesday that Kelly, a former Nissan executive vice president, had sought only legal methods to arrange post-retirement compensation for his boss. Kelly was arrested at the same time as Ghosn in Tokyo in November 2018 and is charged with falsifying securities reports.news.yahoo.com
Defiant Ghosn pins hopes on French probes to clear his name
Auto magnate-turned-fugitive Carlos Ghosn is campaigning to clear his name, and hopes a visit by French investigators to his home in exile in Lebanon will be his first real opportunity to defend himself since the bombshell arrest that transformed him from a visionary to a prisoner overnight. In an interview with The Associated Press, the embattled former chairman of the Renault-Nissan-Mitsubishi alliance dissected his legal troubles in Japan, France and the Netherlands, detailed how he plotted his brazen escape from Osaka, and reflected on his new reality in crisis-hit Lebanon, where he is stuck for the foreseeable future. Ghosn was arrested in Japan in November 2018 on accusations of financial misconduct and fled to Lebanon a year later.news.yahoo.com
Dutch court orders former Nissan boss Ghosn to repay salary
A Dutch court has ordered fugitive former Nissan chairman Carlos Ghosn to repay nearly 5 million euros in salary to an Amsterdam-based alliance between Nissan and Mitsubishi, and rejected his claim for millions in compensation for wrongful dismissal.
American tells Japan court he worked for Nissan's interests
An American lawyer on trial in Japan on charges related to reporting of former Nissan Chairman Carlos Ghosn’s compensation asserted his innocence Wednesday, testifying he acted legally and in Nissan's best interests. Greg Kelly, a former executive vice president at Nissan Motor Co., told the Tokyo District Court he was worried Ghosn might job-hop after taking a big pay cut in 2010, when Japan began requiring disclosures of high executive pay.news.yahoo.com
American father and son charged in Japan with helping ex-Nissan boss Carlos Ghosn escape to Lebanon
Tokyo — Japanese prosecutors have charged two Americans, Michael Taylor and his son Peter, in connection with the escape of former Nissan Chairman Carlos Ghosn to Lebanon. Prosecutors said the Taylors were formally charged Monday with helping a criminal escape. Japan has put Ghosn on Interpol's wanted list, but Lebanon has no extradition treaty with Japan. Peter Taylor, 28, is accused of meeting with Ghosn and helping his father carry out the escape. The speaker box Michael and Peter Taylor allegedly used to help former Nissan chief Carlos Ghosn escape from Japan in 2019.cbsnews.com
Japan charges Americans with helping Ghosn flee, jump bail
Japanese prosecutors have charged two Americans, Michael Taylor and his son Peter, in connection with the escape of former Nissan Chairman Carlos Ghosn to Lebanon. (DHA via AP, File)TOKYO – Japanese prosecutors charged two Americans, Michael Taylor and his son Peter, Monday in the escape of former Nissan Chairman Carlos Ghosn to Lebanon, while he was out on bail. Prosecutors said the Taylors were formally charged with helping a criminal escape, although dates and other details of a trial were undecided. Japan has put Ghosn on Interpol’s wanted list, but Lebanon has no extradition treaty with Japan. Peter Taylor, 28, is accused of meeting with Ghosn and helping his father carry out the escape.
Nissan's COO says its post-Ghosn turnaround plan is on track to hit targets a year ahead of schedule
Nissan lost 367.7 billion Japanese yen ($3.4 billion) through the first three quarters of its 2020 fiscal year, which ends in March. But it generated an operating profit of 27.1 billion Japanese yen ($250 million) in the third quarter – 100 billion Japanese yen ($921 million) ahead of its initial target. It also has cut 330 billion Japanese yen ($3 billion) in fixed costs compared to its initial plan of 300 billion Japanese yen ($2.8 billion). Nissan expects sales of its EVs and e-Power vehicles to reach 1 million by the end of its turnaround plan. Sales of all-electric vehicles were less than 4% of the global market in 2020, according to IHS Markit.cnbc.com
AP Interview: Lawyer says Kelly innocent of Ghosn pay scheme
The lawyer for former Nissan Motor Co.'s executive Kelly, said his client was merely trying to prevent Ghosn from going to a rival automaker. At the time, Kelly, then a Nissan executive vice president, was making good money, had a successful career and moreover, was a lawyer. “He talks like a lawyer, and he thinks like a lawyer,” Kitamura said. Kelly, according to Kitamura, was just working out ways to pay Ghosn after retirement, through consulting fees and arranging a “non-compete” to prevent him from going to a rival automaker. “That would be the last day Greg would stay in Japan,” Kitamura said.
WorldView: Nearly 300 kidnapped Nigerian girls released
WorldView: Nearly 300 kidnapped Nigerian girls released Nearly 300 schoolgirls kidnapped by gunmen in Nigeria have been released, while hundreds of protesters in Hong Kong turned out to support arrested pro-democracy activists. Two Americans have been extradited to Japan for allegedly helping Nissan boss Carlos Ghosn flee, and the U.S. is expected issue new sanctions against Russia. CBS News foreign correspondent Debora Patta joins CBSN AM with the headlines.cbsnews.com
WorldView: Nearly 300 kidnapped Nigerian girls released
WorldView: Nearly 300 kidnapped Nigerian girls released Nearly 300 schoolgirls kidnapped by gunmen in Nigeria have been released, while hundreds of protesters in Hong Kong turned out to support arrested pro-democracy activists. Two Americans have been extradited to Japan for allegedly helping Nissan boss Carlos Ghosn flee, and the U.S. is expected issue new sanctions against Russia. CBS News foreign correspondent Debora Patta joins "CBSN AM" with the headlines.cbsnews.com
Americans who masterminded Nissan boss Carlos Ghosn's brazen escape from Japan extradited to face justice
Tokyo — The men who masterminded former auto executive Carlos Ghosn dramatic, cinema-worthy escape from Japanese justice were themselves brought back to Japan on Tuesday to face justice for helping him jump bail and avoid trial. A plane's touch-down at Tokyo's Narita Airport signaled the end of a nine-month legal battle for former Green Beret Michael Taylor and his son Peter. KAZUHIRO NOGI/AFP/GettyJapanese prosecutors say Michael Taylor, 60, and his son Peter, 28, planned and executed the "brazen escape act," smuggling ex-Nissan chairman Ghosn out of Japan in a speaker case in December 2019. Japanese media have reported that the Taylors will be held in the same Tokyo detention center where Ghosn was taken after his arrest in 2018. If found guilty — and Japan has a 99% conviction rate — the Taylors face up to three years in prison.cbsnews.com
EXPLAINER: Japan to try US men accused of helping Ghosn flee
Two Americans suspected of helping Ghosn skip bail and escape to Lebanon in December 2019 have been extradited to Japan. (AP Photo/Hussein Malla, File)TOKYO – Two Americans suspected of helping former Nissan Chairman Carlos Ghosn skip bail and escape to Lebanon in December 2019 have been extradited to Japan. The box passed through airport security in Osaka, central Japan, and was loaded onto a private jet that flew Ghosn to Turkey. Peter Taylor is accused of meeting with Ghosn and helping his father carry out the escape. Japan has put Ghosn on Interpol's wanted list, but Lebanon has no extradition treaty with Japan.
2 Americans wanted in Ghosn's escape in Japanese custody
They have accused Japan of pursuing the pair in an attempt to save face after the embarrassment of Ghosn’s escape. He gave an interview to Vanity Fair magazine for a story last year in which he described the mission in detail. But he insisted that his son wasn’t involved and was not even in Japan when Ghosn left. The elder Taylor and Zayek met up with the two others at the Grand Hyatt and shortly after, they split up. But a federal judge in Boston put their extradition on hold shortly after their lawyers filed an emergency petition.
Nissan ex-CEO tells Japanese court Ghosn's pay was too low
Former Nissan Chief Executive Saikawa told a Japanese court Wednesday, Feb. 24, 2021, he believed the compensation for his predecessor Carlos Ghosn was too low by international standards, and so he supported Ghosns retirement packages to prevent him from leaving. An American, he has been charged with financial misconduct in failing to fully disclose Ghosn’s future compensation. Ghosn led Nissan for two decades, salvaging the Japanese automaker from the brink of collapse. In the cross-examination by Kelly's defense lawyer Yoichi Kitamura, Saikawa said the several documents he signed were not about Ghosn's unpaid compensation but for services after Ghosn's retirement. When asked why he signed the documents, Saikawa said he trusted Kelly.
High court denies accused Ghosn smugglers' bid to stay in US
Taylor is accused of smuggling former Nissan Motor Co. Chairman Carlos Ghosn out of Japan in 2019 while he was awaiting trial on financial misconduct charges. The flight went first to Turkey, and then to Lebanon, where Ghosn has citizenship but which has no extradition treaty with Japan. Lawyers for the Taylors argue the men can’t legally be extradited and will be treated unfairly in the Japan. Their lawyers told the Supreme Court in a brief filed Friday that the men would face harsh treatment in the Japanese criminal justice system. U.S. authorities had said they would not hand the men over to Japan while their bid for a stay was pending before Breyer, an attorney for the Taylors said.
Ex-Nissan boss' accused smugglers seek Supreme Court's help
Taylor is accused of smuggling former Nissan Motor Co. Chairman Carlos Ghosn out of Japan in 2019 while he was awaiting trial on financial misconduct charges. Their lawyers told the Supreme Court that the men would face harsh treatment in the Japanese criminal justice system. The Taylors are asking the Supreme Court to halt the extradition until their case is fully considered by the 1st Circuit and, if necessary, the Supreme Court. The flight went first to Turkey, and then to Lebanon, where Ghosn has citizenship but which has no extradition treaty with Japan. The judge rejected the petition last month, clearing the way for the extradition, before the lawyers appealed to the 1st Circuit.
Father and son who allegedly helped smuggle mogul out of Japan in speaker box fighting extradition from U.S.
Circuit Court of Appeals rejected an emergency petition to halt Michael and Peter Taylor's extradition to give them time to challenge a lower court ruling. The U.S. government has said it could surrender the men to Japan as early as Friday, according to the Taylors' lawyers. In an interview with CBS Boston this week, he claimed Japan is "clearly going to torture us." The speaker box Michael and Peter Taylor allegedly used to help former Nissan chief Carlos Ghosn escape from Japan in 2019. The judge rejected the petition last week, clearing the way for the extradition, before the lawyers appealed to the 1st Circuit.cbsnews.com
Court won't delay extradition of 2 nabbed in Ghosn's escape
Taylor is accused of smuggling former Nissan Motor Co. Chairman Carlos Ghosn out of Japan in 2019 while he was awaiting trial on financial misconduct charges. Circuit Court of Appeals rejected an emergency petition to halt Michael and Peter Taylor's extradition to give them time to challenge a lower court ruling. The U.S. government has said it could surrender the men to Japan as early as Friday, according to the Taylors' lawyers. The judge rejected the petition last week, clearing the way for the extradition, before the lawyers appealed to the 1st Circuit. He is now in Lebanon, where he has citizenship but which has no extradition treaty with Japan.
Nissan stays in red ink amid pandemic, Japan criminal trial
Nissan Motor Co. reported a 37.8 billion yen ($360 million) loss for October-December, bigger than the 26 billion yen loss racked up the previous year. But they still lag, at about a million vehicles for the quarter, down from 1.2 million vehicles a year ago. Chief Executive Makoto Uchida told reporters the annual sales forecast was lowered to about 4 million vehicles from an earlier 4.2 million vehicles. High-ranking people at Nissan, including Ghosn, were convinced his pay would come under criticism, according to testimony from several Nissan officials. AdJapanese prosecutors have argued the convoluted efforts to pay Ghosn without disclosing the full amount constitute a white-collar crime.
Man wanted in Carlos Ghosn's escape accuses US of 'betrayal'
Chair Carlos Ghosn out of Japan in a box is imploring U.S. officials to block their extradition. Authorities say the Taylors were paid at least $1.3 million for their help. Ghosn wired more than $860,000 to a company linked to Peter Taylor shortly before the escape and Ghosn’s son later made $500,000 in cryptocurrency payments, authorities said. Meanwhile, Ghosn, free on bail, headed to the Grand Hyatt in Tokyo and met up with Peter Taylor, who was already in Japan, authorities say. Authorities say Ghosn was inside one of the big black boxes.
Judge OKs extradition of 2 wanted in ex-Nissan boss' escape
U.S. District Judge Indira Talwani rejected a request to block the U.S. from handing Michael Taylor and his son, Peter Taylor, over to Japan. U.S. District Judge Indira Talwani rejected a request to block the U.S. from handing Michael Taylor and his son, Peter Taylor, over to Japan. AdGhosn is now in Lebanon, where he has citizenship but which has no extradition treaty with Japan. Meanwhile, Ghosn headed to the Grand Hyatt in Tokyo and met up with Peter Taylor, who was already in Japan. Peter Taylor hopped on a flight to China, authorities say.
Turkish pilots, official face 12 years jail for Ghosn flight
A security official checks people's IDs before the third hearing in the trial of Carlos Ghosn, former Nissan Motor Co. chairman, in Istanbul, Wednesday, Jan. 20, 2021. Turkish prosecutors on Wednesday pushed for maximum 12 years in prison each for a Turkish private airline company official and two pilots who are accused of smuggling Ghosn out of Japan, Turkey's state-run news agency reported. (AP Photo/Mehmet Guzel)ISTANBUL – Turkish prosecutors on Wednesday sought the maximum possible 12 years in prison each for a Turkish private airline official and two pilots accused of smuggling the former Nissan Motor Co. chairman out of Japan, Turkey’s state news agency reported. Delivering their final opinion on the case, the prosecutors also demanded that charges against two flight attendants be dropped. During the opening hearing, airline official Okan Kosemen claimed he was made aware that Ghosn was on the plane to Istanbul only after it landed.
Carlos Ghosn asks why Japanese don't question him in Lebanon
(AP Photo/Hussein Malla, file)BEIRUT – Former Renault-Nissan boss Carlos Ghosn said in an interview aired Monday that French investigators are coming to question him in Lebanon over some legal challenges in France, asking why don't the Japanese do the same thing. Ghosn, who is a Lebanese, Brazilian and French national, fled Japan in a dramatic escape that drew headlines in late 2019, arriving in Lebanon on Dec. 30 of that year. “Now the French have charges,” Ghosn said. The Japanese are not doing this.”“I consider all the charges to be false,” Ghosn said. Another investigation focused on suspected misuse of company funds for a party for Ghosn at Versailles.
French investigators to question Carlos Ghosn in Lebanon
(AP Photo/Hussein Malla, file)BEIRUT – A team of French investigators will come to Beirut next month to participate in interrogating former Renault-Nissan boss Carlos Ghosn, a Lebanese justice ministry official said Saturday. The official gave no specific date or details of what information the investigators would seek from Ghosn. Former auto executive Ghosn, who is a Lebanese, Brazilian and French national, fled Japan in a dramatic escape that drew headlines last year, arriving in Lebanon on Dec. 30, 2019. The Lebanese official, speaking on condition of anonymity in line with regulations, said the French investigators would be working alongside their Lebanese counterparts. Information about investigations is secret under French law, and French judicial officials did not respond to requests for comment Saturday on the report.
Nissan is trying to bounce back from turmoil and losses
But it's also trying to recover from some self-inflicted wounds by former Nissan executives, including ex-CEO Carlos Ghosn. In mid-November the automaker posted a quarterly loss of about 44.4 billion yen ($420 million). It is now expecting to lose several times that — about 615 billion yen ($5.9 billion) in the fiscal year 2020, which ends in March. Meanwhile, Nissan is both trying to trim its lineup and release some new products. Nissan had been something of a leader in electric vehicles when it released the Leaf, a small affordable electric hatchback.cnbc.com
Rights experts: Japan's handling of Carlos Ghosn was wrong
GENEVA – A panel of human rights experts working with the United Nations said Monday that former Renault-Nissan boss Carlos Ghosn was wrongly detained in Japan and has urged “compensation” for him from the Japanese government. The opinions of the working group are not binding on countries but aim to hold them up to their own human rights commitments. Among its past rulings involved the case of Wikileaks founder Julian Assange, who was likewise deemed to have had his human rights violated. Japan’s system has been repeatedly criticized by human rights advocates. Its members declined to speak to reporters about the opinion, the U.N. human rights office said.
Nissan's damages case against absent Ghosn opens in Japan
TOKYO – A civil court trial began Friday in Japan over Nissan’s demand for 10 billion yen, or $95 million, in damages from its former chairman, Carlos Ghosn. Ghosn jumped bail late last year while awaiting a separate criminal trial in Japan. “The current Nissan civil lawsuit is an extension to the extremely unreasonable internal investigation with sinister intent by a portion of Nissan’s senior management and the unreasonable arrests and indictments by the public prosecutors,” Ghosn said. For the civil trial, Ghosn has hired acclaimed lawyer Nobuo Gohara, who has written a book of interviews with Ghosn. Tokyo prosecutors say they’re confident they have a case against Ghosn, as well as against Kelly.
Japanese automaker Nissan posts loss amid pandemic, scandal
Nissan Motor Co. had a profit of 59 billion yen in July-September of 2019. Yokohama-based Nissan reported Thursday its quarterly sales dipped to 1.9 trillion yen ($18 billion) from 2.6 trillion yen a year earlier. The company is still bleeding red ink and expects a 615 billion yen ($5.8 billion) loss for this fiscal year, which ends in March. That is still an improvement over its earlier projection for a 670 billion yen loss ($6.4 billion). Nissan posted a 671 billion yen loss in the previous fiscal year.
Defense begins questioning in Japan trial over Ghosn's pay
Since the trial began in September, Kelly has only presented a brief opening statement insisting on his innocence. Ghosn jumped bail and fled the country for Lebanon late last year, saying he feared he could not get a fair trial. In cross-examining Wednesday, Ohnuma told the court that Kelly did not know how much Ghosn was paid, as that was highly confidential at Nissan. The testimony suggested Kelly played a minor role in being consulted to study legal ways to pay Ghosn. Beginning in 2010, Japan started requiring public reporting of individual executives’ pay over 100 million yen ($1 million) in securities reports.
Auto executive turned international fugitive Carlos Ghosn says Covid makes industry ripe for consolidation
High-flying automotive executive turned international fugitive Carlos Ghosn believes the coronavirus pandemic will accelerate consolidation of the global automotive industry, including his former employer Nissan Motor. "Even if they find a vaccine immediately, is going take probably one year before things start to come back to normal. A lot of companies are going to be struggling. NissanGhosn said companies that lack vision will likely become takeover targets for those with better balance sheets or plans for the future, including electric vehicles. He believes Nissan as well as its alliance partners, Renault and Mitsubishi, could be companies that don't survive.cnbc.com
Japan's Toyota sees profit slip, holding up despite pandemic
Toyota Motor Corp. reported Friday a quarterly profit of 470.5 billion yen ($4.5 billion), down from 530 billion yen a year ago. Quarterly sales slipped to 6.77 trillion yen ($65 billion) from 7.64 trillion yen. Toyota, based in Toyota city in Aichi, central Japan, said it expects to record a 1.4 trillion yen ($13.5 billion) profit for the fiscal year. It earlier projected 730 billion yen ($7 billion) in profit. Toyota, which makes Lexus luxury models and the Prius hybrid, recorded 2 trillion yen ($19 billion) in profit the previous fiscal year.
French carmaker Renault announces 15,000 job cuts worldwide
The headquarters of French carmaker Renault is pictured in Boulogne-Billancourt, outside Paris, Monday, May 25, 2020. French President Emmanuel Macron is set to unveil sweeping new measures to rescue France's car industry, hammered by virus lockdown and the resulting recession. (AP Photo/Christophe Ena)PARIS Struggling French carmaker Renault on Friday announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. The group is also considering adaptation of its production capacities in Russia and announced the halt of Renault-branded oil-powered car activities in China. The French government is its single biggest shareholder with a 15-percent stake, and has been in talks on a 5 billion-euro loan guarantee.
Nissan plans to close Barcelona factories, 3,000 jobs lost
MADRID Spains government says that Japanese carmaker Nissan Motor Co. has decided to close its manufacturing plants in the northeastern Catalonia region, resulting in the loss of some 3,000 direct jobs. Spains Industry Ministry says in a statement on Thursday that it regrets the companys decision despite proposals to keep the plant running, and urges the car manufacturers executives to consider alternatives. Workers unions had warned that 20,000 more jobs in Nissans local supply chain would also be threatened if the company closed its car manufacturing plant in Barcelona and two smaller factories in nearby towns. Reeling from a scandal involving its former chairman, Carlos Ghosn, Yokohama-based Nissan was due to report on Thursday its annual results, which are expected to come as the first yearly loss in 11 years. The company is undergoing a deep restructuring, focusing on China, North America and Japan and leaving the European market, Russia, South America and North Africa to its partner Renault; and Southeast Asia and Oceania to Mitsubishi.
Nissan to close Indonesia, Spain auto plants after losses
Japanese carmaker Nissan Motor Co. has decided to close its manufacturing plans in the northeastern Catalonia region, resulting in the loss of some 3,000 direct jobs. (AP Photo/Emilio Morenatti)TOKYO Nissan announced Thursday it will close two auto plants, in Spain and Indonesia, as it sank into the red for the first time in 11 years after the coronavirus pandemic sent global demand plunging and halted production. Yokohama-based Nissan had recorded a 319.1 billion yen profit the previous fiscal year through March 2019. Nissan said its global vehicle production dropped 62% in April to 150,388 vehicles from a year ago. Global vehicle sales slipped nearly 42% last month.
Nissan-Renault alliance to share more parts, technology
The Japanese-French auto alliance of Nissan and Renault will be sharing more vehicle parts, technology and models to save costs as the industry struggles to survive the coronavirus pandemic. (Renault-Nissan-Mitsubishi via AP)TOKYO The auto alliance of Nissan and Renault said Wednesday it will be sharing more vehicle parts, technology and models to save costs as the industry struggles to survive the the coronavirus pandemic. Nissan is a leader in electric cars with its Leaf, but such technology will be available to the other alliance members, they said. Frances government announced on Tuesday a bailout of more than 8 billion euros ($8.8 billion) for the nations auto industry. Before his downfall, Ghosn was a revered figure in the auto industry, especially in Japan, where he was a corporate superstar.
France unveils $8.8 billion rescue for ailing car industry
The logo of French carmaker Renault is pictured at the Flins plant of French carmaker Renault in Aubergenville, west of Paris, Monday, May 25, 2020. French President Emmanuel Macron is set to unveil sweeping new measures to rescue France's car industry, hammered by virus lockdown and the resulting recession. (AP Photo/Christophe Ena)PARIS French President Emmanuel Macron announced an 8 billion-euro ($8.8 billion) plan Tuesday to save the countrys car industry from huge losses wrought by virus lockdowns, including a big boost for electric vehicles. PARIS (AP) French President Emmanuel Macron is set to unveil new measures Tuesday to rescue the country's car industry, which has been hammered by the virus lockdown and the resulting recession. Macron tweeted that government investment in the national car industry, which includes brands like Peugeot-Citroen and Renault as well as parts suppliers, will increase massively."
2 accused of smuggling ex-Nissan boss out of Japan in a box
Assistant U.S. Attorney Stephen Hassink said Japan plans as quickly as possible to submit a formal request to extradite the Taylors. At their arrival, Taylor and Zayek, his Lebanese-born colleague, told airport employees they were musicians carrying audio equipment. The elder Taylor and Zayek joined after a brief stop to rent a separate room near the airport. Authorities say Ghosn was inside one of the big black boxes, lugged by the two men to Japans Kansai International Airport, authorities said. The flight went first to Turkey, then to Lebanon, where Ghosn has citizenship but which has no extradition treaty with Japan.