‘Extraordinarily positive’: Renault chair claims Nissan relationship has bounced back after Ghosn

The current most senior executive at French carmaker Renault has played down suggestions that an almost two-decade partnership with Japan’s Nissan is set to end. Ties between the two firms have been strained since Japanese authorities arrested former Nissan chair Carlos Ghosn in 2018 on charges related to misuse of company funds and underreporting of his personal salary. Bullishly describing the relationship as “extraordinarily positive,” Senard added that the two management teams were talking e


The current most senior executive at French carmaker Renault has played down suggestions that an almost two-decade partnership with Japan’s Nissan is set to end.
Ties between the two firms have been strained since Japanese authorities arrested former Nissan chair Carlos Ghosn in 2018 on charges related to misuse of company funds and underreporting of his personal salary.
Bullishly describing the relationship as “extraordinarily positive,” Senard added that the two management teams were talking e
‘Extraordinarily positive’: Renault chair claims Nissan relationship has bounced back after Ghosn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: david reid
Keywords: news, cnbc, companies, bounced, firms, extraordinarily, french, work, claims, renault, senard, ghosn, chair, way, relationship, nissan, positive, relations, stake


'Extraordinarily positive': Renault chair claims Nissan relationship has bounced back after Ghosn

The current most senior executive at French carmaker Renault has played down suggestions that an almost two-decade partnership with Japan’s Nissan is set to end.

Ties between the two firms have been strained since Japanese authorities arrested former Nissan chair Carlos Ghosn in 2018 on charges related to misuse of company funds and underreporting of his personal salary.

In late October, Renault’s Thierry Bollore was dismissed from his chief executive role in an attempt to save relations with Nissan’s top bosses. A replacement is expected to be announced in the coming days.

Media reports have suggested that Nissan’s board is figuring out how a split from its alliance with Renault could work and what other firms it could look to work with.

Speaking at the World Economic Forum in Davos, Switzerland on Wednesday, chairman of Renault, Jean-Dominique Senard, dismissed the claim, saying the spirit between the two firms was already “totally changed” from a few months ago.

“Questions about the alliance; ‘What are the new challenges? How we can get out of the situation?’ were in every mind, so I can understand that,” said Senard, before claiming that the relationship was back to being as healthy as it was 20 years ago.

Bullishly describing the relationship as “extraordinarily positive,” Senard added that the two management teams were talking every day and there was the kind of relationship not enjoyed for at least a year.

“We are now shaping up the whole thing in a way that we can only have positive news in the near future,” he added.

The Renault-Nissan partnership has the French firm as the dominant player as it holds a much greater stake in Nissan than the other way around. Voting rights in the boardroom therefore favor the French firm, to the annoyance of some Japanese executives.

Renault shares have dipped more that 30% over the past 12 months and the firm’s debt ratio currently stands at 1.01 – meaning the firm’s total enterprise value only just eclipses what it owes.

When asked if Renault could improve relations with Nissan and lower debt in one stroke by selling down its stake, Senard claimed that was not a topic for immediate discussion.

“Nothing is fixed for eternity, but the priority today is to make sure that things are working well on the industrial part, that’s the key,” Senard said.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: david reid
Keywords: news, cnbc, companies, bounced, firms, extraordinarily, french, work, claims, renault, senard, ghosn, chair, way, relationship, nissan, positive, relations, stake


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French finance minister says the battle over digital tax is not over yet

DAVOS, Switzerland – The United States has agreed to suspend tariffs on French goods over a digital taxation dispute, but there is still work to be done between the two, France’s finance minister said Wednesday. Paris argued that digital firms were paying little to no tax; but the United States said the levy was particularly “burdensome” for American firms and Washington threatened to impose tariffs on French products. Speaking to reporters at the World Economic Forum, Bruno Le Maire, the French


DAVOS, Switzerland – The United States has agreed to suspend tariffs on French goods over a digital taxation dispute, but there is still work to be done between the two, France’s finance minister said Wednesday.
Paris argued that digital firms were paying little to no tax; but the United States said the levy was particularly “burdensome” for American firms and Washington threatened to impose tariffs on French products.
Speaking to reporters at the World Economic Forum, Bruno Le Maire, the French
French finance minister says the battle over digital tax is not over yet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: silvia amaro
Keywords: news, cnbc, companies, france, basis, states, french, tax, battle, digital, minister, finance, united, maire, work, taxation


French finance minister says the battle over digital tax is not over yet

DAVOS, Switzerland – The United States has agreed to suspend tariffs on French goods over a digital taxation dispute, but there is still work to be done between the two, France’s finance minister said Wednesday.

The two countries have been at odds over taxation of tech companies since France announced a levy of 3% on sales generated by digital giants, such as Google and Facebook. Paris argued that digital firms were paying little to no tax; but the United States said the levy was particularly “burdensome” for American firms and Washington threatened to impose tariffs on French products.

Speaking to reporters at the World Economic Forum, Bruno Le Maire, the French finance minister, said his country had accepted a postponement of the payments to the end of 2020.

“In exchange of this postponement … the U.S. accepts to suspend the sanctions against France,” Le Maire said.

However, this is not the end of their dispute. Both agreed to develop an international framework for digital taxation at the OECD level, but they disagree on how to shape it. The United States believes companies should be able to decide whether to reallocate a portion of their corporate profits, whereas France believes the system should be compulsory.

“We still need to have a clear understanding of what will be the working basis at the OECD. And we want this basis to be solid, credible and fair. An optional basis would not be credible,” Le Maire said.

“So, there’s still some work to be done,” the French politician said.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: silvia amaro
Keywords: news, cnbc, companies, france, basis, states, french, tax, battle, digital, minister, finance, united, maire, work, taxation


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Watch: Trump speaks at the World Economic Forum in Davos after clinching phase one trade deal with China

President Donald Trump is scheduled to make a speech at the World Economic Forum in Davos, Switzerland, on Tuesday morning. The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the most pressing issues worldwide. Investors will be watching for Trump’s comments on trade with Europe and any update on the progress of the second phase of the trade agreement with China. On Monday, French President Emmanuel Macron and Trump discussed a French digital


President Donald Trump is scheduled to make a speech at the World Economic Forum in Davos, Switzerland, on Tuesday morning.
The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the most pressing issues worldwide.
Investors will be watching for Trump’s comments on trade with Europe and any update on the progress of the second phase of the trade agreement with China.
On Monday, French President Emmanuel Macron and Trump discussed a French digital
Watch: Trump speaks at the World Economic Forum in Davos after clinching phase one trade deal with China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: yelena dzhanova
Keywords: news, cnbc, companies, trump, speaks, deal, davos, trade, trumps, french, youtube, watching, phase, president, forum, world, worldwide, economic, watch


Watch: Trump speaks at the World Economic Forum in Davos after clinching phase one trade deal with China

[The stream is slated to start at 5:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]

President Donald Trump is scheduled to make a speech at the World Economic Forum in Davos, Switzerland, on Tuesday morning.

The five-day gathering in Davos is used by business leaders and politicians to meet and discuss some of the most pressing issues worldwide. This year, the meeting takes place at a time of heightened geopolitical tensions, trade disputes and further calls for action against climate change.

Investors will be watching for Trump’s comments on trade with Europe and any update on the progress of the second phase of the trade agreement with China. On Monday, French President Emmanuel Macron and Trump discussed a French digital tax. The two agreed to hold of on a potential trade war until the end of the year, a source told Reuters.

Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer are also attending.

Last year the president skipped the event due to a partial government shutdown.

His remarks come on the same day that the Senate will begin in earnest its trial over Trump’s impeachment.

CNBC’s Silvia Amaro contributed to this report.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: yelena dzhanova
Keywords: news, cnbc, companies, trump, speaks, deal, davos, trade, trumps, french, youtube, watching, phase, president, forum, world, worldwide, economic, watch


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Macron and Trump declare a truce on digital tax dispute

President Donald Trump and France’s President Emmanuel Macron shake hands as they meet, ahead of the NATO summit in Watford, in London, Britain, December 3, 2019French President Emmanuel Macron said on Tuesday he had a “great discussion” with President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs. Macron and Trump agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said,


President Donald Trump and France’s President Emmanuel Macron shake hands as they meet, ahead of the NATO summit in Watford, in London, Britain, December 3, 2019French President Emmanuel Macron said on Tuesday he had a “great discussion” with President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs.
Macron and Trump agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said,
Macron and Trump declare a truce on digital tax dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, million, president, oecd, dispute, source, macron, negotiations, declare, truce, digital, french, tax, trump


Macron and Trump declare a truce on digital tax dispute

President Donald Trump and France’s President Emmanuel Macron shake hands as they meet, ahead of the NATO summit in Watford, in London, Britain, December 3, 2019

French President Emmanuel Macron said on Tuesday he had a “great discussion” with President Donald Trump over a digital tax planned by Paris and said the two countries would work together to avoid a rise in tariffs.

Macron and Trump agreed to hold off on a potential tariffs war until the end of the year, a French diplomatic source said, and continue negotiations at the OECD on the digital tax during that period.

“They agreed to give a chance to negotiations until the end of the year,” the source said. “During that time period, there won’t be successive tariffs.”

France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than $28 million in France and nearly $832 million worldwide. Washington has threatened to impose taxes on French products in response.

French authorities have repeatedly said that any international agreement on digital taxation reached within the OECD would immediately supercede the French tax.


Company: cnbc, Activity: cnbc, Date: 2020-01-20
Keywords: news, cnbc, companies, million, president, oecd, dispute, source, macron, negotiations, declare, truce, digital, french, tax, trump


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US proposal for ‘optional’ tax reform no longer on the table: France’s Le Maire

A U.S. proposal that the future international tax reform could be optional for companies is a “non-starter” and is no longer on the table, French Finance Minister Bruno Le Maire said on Friday. Le Maire was speaking after meeting OECD Secretary-General Angel Gurria to discuss global tax reform. He also said it was up to U.S. authorities to make a move in coming days on a French digital tax targeting big tech companies.


A U.S. proposal that the future international tax reform could be optional for companies is a “non-starter” and is no longer on the table, French Finance Minister Bruno Le Maire said on Friday.
Le Maire was speaking after meeting OECD Secretary-General Angel Gurria to discuss global tax reform.
He also said it was up to U.S. authorities to make a move in coming days on a French digital tax targeting big tech companies.
US proposal for ‘optional’ tax reform no longer on the table: France’s Le Maire Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, tax, targeting, speaking, companies, maire, secretarygeneral, reformhe, reform, tech, french, proposal, optional, longer, frances, table


US proposal for 'optional' tax reform no longer on the table: France's Le Maire

A U.S. proposal that the future international tax reform could be optional for companies is a “non-starter” and is no longer on the table, French Finance Minister Bruno Le Maire said on Friday.

Le Maire was speaking after meeting OECD Secretary-General Angel Gurria to discuss global tax reform.

He also said it was up to U.S. authorities to make a move in coming days on a French digital tax targeting big tech companies.


Company: cnbc, Activity: cnbc, Date: 2020-01-17
Keywords: news, cnbc, companies, tax, targeting, speaking, companies, maire, secretarygeneral, reformhe, reform, tech, french, proposal, optional, longer, frances, table


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This retailer ordered 35,000 cases of French wine to brace for possible tariffs

Bottles of French wine are displayed for sale in a liquor store on December 3, 2019 in Arlington, Virginia. Though it’s not clear yet whether massive tariffs against French wine will take effect next month, Moore Brothers Wine Co. isn’t taking any chances. “It’s just really terrible,” said David Moore, a co-owner of the sprawling business. “But what we hope to do is make sure that we aren’t doubling prices overnight.” Though the U.S. and China have worked out a “phase one” deal of their respecti


Bottles of French wine are displayed for sale in a liquor store on December 3, 2019 in Arlington, Virginia.
Though it’s not clear yet whether massive tariffs against French wine will take effect next month, Moore Brothers Wine Co. isn’t taking any chances.
“It’s just really terrible,” said David Moore, a co-owner of the sprawling business.
“But what we hope to do is make sure that we aren’t doubling prices overnight.”
Though the U.S. and China have worked out a “phase one” deal of their respecti
This retailer ordered 35,000 cases of French wine to brace for possible tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jeff cox
Keywords: news, cnbc, companies, york, world, tariffs, 35000, wine, battle, cases, moore, trade, 100, worked, retailer, possible, brace, french, ordered


This retailer ordered 35,000 cases of French wine to brace for possible tariffs

Bottles of French wine are displayed for sale in a liquor store on December 3, 2019 in Arlington, Virginia.

Though it’s not clear yet whether massive tariffs against French wine will take effect next month, Moore Brothers Wine Co. isn’t taking any chances.

The retailer, which operates in New York, New Jersey and Delaware, ordered more than 35,000 cases of imported wine to be delivered by Feb. 1, just in case the White House follows through on its threat for tariffs that could be around 100% and levied on a host of other goods.

“It’s just really terrible,” said David Moore, a co-owner of the sprawling business. “But what we hope to do is make sure that we aren’t doubling prices overnight.”

Wine imports from the European Union already face 25% duties, but the Office of the U.S. Trade Representative has floated the idea of hiking them to 100% as part of an ongoing battle over tariffs on Airbus airliners. The USTR did not respond to a request for comment.

Though the U.S. and China have worked out a “phase one” deal of their respective tariff battle, the wine issue is just one of many unresolved trade issues around the world.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: jeff cox
Keywords: news, cnbc, companies, york, world, tariffs, 35000, wine, battle, cases, moore, trade, 100, worked, retailer, possible, brace, french, ordered


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France wants a solution for US dispute on digital tax within 15 days

France and the United States have given themselves 15 days to settle a dispute over the taxation of digital companies, French Finance Minister Bruno Le Maire said Tuesday. Both countries have been at odds over a French decision to impose a 3% tax on sales generated by tech firms in the European country. However, the United States has argued that the digital tax unfairly discriminates against U.S. firms, such as Google and Facebook, and has threatened to impose tariffs of up to 100% on French imp


France and the United States have given themselves 15 days to settle a dispute over the taxation of digital companies, French Finance Minister Bruno Le Maire said Tuesday.
Both countries have been at odds over a French decision to impose a 3% tax on sales generated by tech firms in the European country.
However, the United States has argued that the digital tax unfairly discriminates against U.S. firms, such as Google and Facebook, and has threatened to impose tariffs of up to 100% on French imp
France wants a solution for US dispute on digital tax within 15 days Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: silvia amaro
Keywords: news, cnbc, companies, tariffs, wants, solution, french, tech, days, working, digital, dispute, maire, tax, united, taxation, weeks, france


France wants a solution for US dispute on digital tax within 15 days

US President Donald Trump (L) and French President Emmanuel Macron (R) meets ahead of a working lunch, at the US ambassador’s residence, on the sidelines of the NATO (North Atlantic Treaty Organization) summit, in Brussels, on May 25, 2017.

France and the United States have given themselves 15 days to settle a dispute over the taxation of digital companies, French Finance Minister Bruno Le Maire said Tuesday.

Both countries have been at odds over a French decision to impose a 3% tax on sales generated by tech firms in the European country. Paris is of the opinion that tech giants pay too little or no corporate tax where they do not have a large physical presence. However, the United States has argued that the digital tax unfairly discriminates against U.S. firms, such as Google and Facebook, and has threatened to impose tariffs of up to 100% on French imports.

Le Maire spoke with U.S. Treasury Secretary Steven Mnuchin Monday over the phone, with the French minister telling reporters Tuesday they had agreed “to try to find a compromise about digital taxation within the OECD (Organization for Economic Co-operation and Development).”

“We have given ourselves exactly 15 days,” he said.

The French finance chief is due to meet Mnuchin at the World Economic Forum in Davos, Switzerland, at the end of the 15-day deadline.

During this period, France should not be subject to tariffs, Le Maire also said Tuesday. U.S. tariffs could target $2.4 billion of French products, including key exporting goods such as cheese, wine and luxury handbags.

“I think a full agreement is unlikely in the next couple of weeks, even though the OECD has been working on the issue for several months,” Dexter Thillien, a senior industry analyst at Fitch Solutions, told CNBC Tuesday via email.

“However, it’s possible that an overall framework can be agreed and announced at Davos, with the details being finalized over the coming weeks and months,” he added.


Company: cnbc, Activity: cnbc, Date: 2020-01-07  Authors: silvia amaro
Keywords: news, cnbc, companies, tariffs, wants, solution, french, tech, days, working, digital, dispute, maire, tax, united, taxation, weeks, france


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Ex-Nissan boss Carlos Ghosn reportedly carried spare French passport while on bail in Japan

Japanese authorities allowed ousted Nissan boss Carlos Ghosn to carry a spare French passport in a locked case while out on bail, public broadcaster NHK said on Thursday, shedding some light on how he managed a dramatic escape to Lebanon. Prosecutors on Thursday raided the Tokyo residence of the former Nissan Motor Co Ltd chairman, NHK also reported. Ghosn, one of the world’s best-known executives, has become Japan’s most famous fugitive after he revealed on Tuesday he had fled to Lebanon to esc


Japanese authorities allowed ousted Nissan boss Carlos Ghosn to carry a spare French passport in a locked case while out on bail, public broadcaster NHK said on Thursday, shedding some light on how he managed a dramatic escape to Lebanon.
Prosecutors on Thursday raided the Tokyo residence of the former Nissan Motor Co Ltd chairman, NHK also reported.
Ghosn, one of the world’s best-known executives, has become Japan’s most famous fugitive after he revealed on Tuesday he had fled to Lebanon to esc
Ex-Nissan boss Carlos Ghosn reportedly carried spare French passport while on bail in Japan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-02
Keywords: news, cnbc, companies, japan, french, ghosn, nhk, passport, authorities, carlos, exnissan, carried, spare, tokyo, escape, boss, worlds, nissan, week, reportedghosn, lebanon, reportedly


Ex-Nissan boss Carlos Ghosn reportedly carried spare French passport while on bail in Japan

Japanese authorities allowed ousted Nissan boss Carlos Ghosn to carry a spare French passport in a locked case while out on bail, public broadcaster NHK said on Thursday, shedding some light on how he managed a dramatic escape to Lebanon.

Prosecutors on Thursday raided the Tokyo residence of the former Nissan Motor Co Ltd chairman, NHK also reported.

Ghosn, one of the world’s best-known executives, has become Japan’s most famous fugitive after he revealed on Tuesday he had fled to Lebanon to escape what he called a “rigged” justice system.

The businessman, who holds French, Lebanese and Brazilian citizenship, was smuggled out of Tokyo by a private security company days ago, the culmination of a plan that was crafted over three months, Reuters has reported.

Ghosn was first arrested in Tokyo in November 2018 and faces four charges — which he denies — including hiding income and enriching himself through payments to car dealerships in the Middle East. He enjoyed an outpouring of support from Lebanon after his arrest.

Japanese authorities have not officially commented on Ghosn’s disappearance. Government offices are shut this week for the New Year holiday.


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Why Ghosn’s escape from Japan puts the French government in an awkward position

Why Ghosn’s escape from Japan puts the French government in an awkward positionFormer Nissan chairman Carlos Ghosn met Lebanon’s president after fleeing from Japan, where he was smuggled out of house arrest by a private security company, two sources close to Ghosn said on Wednesday. CNBC’s Phil LeBeau reports.


Why Ghosn’s escape from Japan puts the French government in an awkward positionFormer Nissan chairman Carlos Ghosn met Lebanon’s president after fleeing from Japan, where he was smuggled out of house arrest by a private security company, two sources close to Ghosn said on Wednesday.
CNBC’s Phil LeBeau reports.
Why Ghosn’s escape from Japan puts the French government in an awkward position Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-02
Keywords: news, cnbc, companies, security, japan, sources, ghosns, ghosn, reports, puts, french, smuggled, president, awkward, escape, private, position, positionformer


Why Ghosn's escape from Japan puts the French government in an awkward position

Why Ghosn’s escape from Japan puts the French government in an awkward position

Former Nissan chairman Carlos Ghosn met Lebanon’s president after fleeing from Japan, where he was smuggled out of house arrest by a private security company, two sources close to Ghosn said on Wednesday. CNBC’s Phil LeBeau reports.


Company: cnbc, Activity: cnbc, Date: 2020-01-02
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Ousted Nissan Chairman Carlos Ghosn reportedly flees house arrest in Tokyo for Lebanon

Carlos Ghosn, former chairman of Nissan Motor Co., leaves his lawyer’s office in Tokyo, Japan, on Thursday, May 23, 2019. Toru Hanai | Bloomberg | Getty ImagesCarlos Ghosn, Nissan’s ousted chairman who was awaiting trial on criminal charges in Japan, flew into Lebanon on Monday evening, France’s Les Echos newspaper reported. The Financial Times also reported that Ghosn was in Lebanon, according to a source close to his family and “a professional associate.” Ghosn landed at Beirut’s Rafic al-Hari


Carlos Ghosn, former chairman of Nissan Motor Co., leaves his lawyer’s office in Tokyo, Japan, on Thursday, May 23, 2019.
Toru Hanai | Bloomberg | Getty ImagesCarlos Ghosn, Nissan’s ousted chairman who was awaiting trial on criminal charges in Japan, flew into Lebanon on Monday evening, France’s Les Echos newspaper reported.
The Financial Times also reported that Ghosn was in Lebanon, according to a source close to his family and “a professional associate.”
Ghosn landed at Beirut’s Rafic al-Hari
Ousted Nissan Chairman Carlos Ghosn reportedly flees house arrest in Tokyo for Lebanon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-30  Authors: dawn kopecki michael wayland ganesh setty riya bhattacharjee, dawn kopecki, michael wayland, ganesh setty, riya bhattacharjee
Keywords: news, cnbc, companies, reportedly, nissan, reported, ghosns, carlos, japan, ousted, financial, tokyo, house, ghosn, flees, million, french, chairman, lebanon, newspaper, prosecutors


Ousted Nissan Chairman Carlos Ghosn reportedly flees house arrest in Tokyo for Lebanon

Carlos Ghosn, former chairman of Nissan Motor Co., leaves his lawyer’s office in Tokyo, Japan, on Thursday, May 23, 2019. Toru Hanai | Bloomberg | Getty Images

Carlos Ghosn, Nissan’s ousted chairman who was awaiting trial on criminal charges in Japan, flew into Lebanon on Monday evening, France’s Les Echos newspaper reported. The newspaper cited its own unnamed source and a report in Lebanese newspaper L’Orient-Le Jour. There was no immediate confirmation from official sources. Whether Ghosn has struck a deal with prosecutors or fled is unknown. The Financial Times also reported that Ghosn was in Lebanon, according to a source close to his family and “a professional associate.” Ghosn’s attorney did not have an immediate comment.

It was unclear how Ghosn, who holds both French and Lebanese citizenship, would have been able to leave Japan, where he has been under strict court-imposed restrictions on his movements. Ghosn was ousted as chairman of Nissan and arrested in Japan a little over a year ago after then CEO Hiroto Saikawa accused him and another executive of a litany of financial misdeeds. Saikawa abruptly resigned in September after an internal investigation found that he also allegedly pocketed excess pay. Nissan accused Ghosn and former Director Greg Kelly of concealing more than $327 million in payments to themselves and other executives — $187 million in nondisclosed compensation and $140 million in improper expenditures, according to a five-page summary of Nissan’s internal investigation released in September. Ghosn, who was also running French automaker Renault as well as the fragile Nissan-Renault-Mitsubishi alliance, was removed from both of those positions while awaiting trial in Japan. The Financial Times said Ghosn was no longer under house arrest, but said it was not clear whether he had escaped or a deal with prosecutors had been reached. Ghosn landed at Beirut’s Rafic al-Hariri international airport late on Sunday, the paper said, citing an associate of Ghosn’s. The Wall Street Journal also reported that Ghosn had fled Japan. Ghosn’s lawyers have asked a court to dismiss all charges against him. They accuse prosecutors of colluding with government officials and Nissan executives of ousting him to block any takeover of the automaker by French alliance partner Renault.


Company: cnbc, Activity: cnbc, Date: 2019-12-30  Authors: dawn kopecki michael wayland ganesh setty riya bhattacharjee, dawn kopecki, michael wayland, ganesh setty, riya bhattacharjee
Keywords: news, cnbc, companies, reportedly, nissan, reported, ghosns, carlos, japan, ousted, financial, tokyo, house, ghosn, flees, million, french, chairman, lebanon, newspaper, prosecutors


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