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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘We are ready’ to take Trump tariff threats to WTO: French finance minister

France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday. “We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told


France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.
“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese.
It is not discriminatory,” Finance Minister Bruno Le Maire told
‘We are ready’ to take Trump tariff threats to WTO: French finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, wto, maire, trump, threats, france, tax, french, finance, tariff, companies, million, ready, oecd, digital, minister


'We are ready' to take Trump tariff threats to WTO: French finance minister

France is ready to go to the World Trade Organization to challenge U.S. President Donald Trump’s threat to put tariffs on champagne and other French goods in a row over a French tax on internet companies, its finance minister said on Sunday.

“We are ready to take this to an international court, notably the WTO, because the national tax on digital companies touches U.S. companies in the same way as EU or French companies or Chinese. It is not discriminatory,” Finance Minister Bruno Le Maire told France 3 television.

Paris has long complained about U.S. digital companies not paying enough tax on revenues earned in France.

In July, the French government decided to apply a 3% levy on revenue from digital services earned in France by firms with more than 25 million euros in French revenue and 750 million euros ($845 million) worldwide.

It is due to kick in retroactively from the start of 2019.

Washington is threatening to retaliate with heavy duties on imports of French champagne, cheeses and luxury handbags, but France and the European Union say they are ready to retaliate in turn if Trump carries out the threat.

Le Maire said France was willing to discuss a global digital tax with the United States at the Organisation for Economic Cooperation and Development (OECD), but that such a tax could not be optional for internet companies.

“If there is agreement at the OECD, all the better, then we will finally have a global digital tax. If there is no agreement at OECD level, we will restart talks at EU level,” Le Maire said.

He added that new EU Commissioner for Economy Paolo Gentiloni had already proposed to restart such talks.

France pushed ahead with its digital tax after EU member states, under the previous executive European Commission, failed to agree on a levy valid across the bloc after opposition from Ireland, Denmark, Sweden and Finland.

The new European Commission assumed office on Dec. 1.


Company: cnbc, Activity: cnbc, Date: 2019-12-08
Keywords: news, cnbc, companies, wto, maire, trump, threats, france, tax, french, finance, tariff, companies, million, ready, oecd, digital, minister


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

France says U.S. proposal on international tax reform unacceptable

France rejects a U.S. proposal this week that would let companies opt out of a proposed international tax reform, Finance Minister Bruno Le Maire said on Friday, urging Washington to negotiate in good faith. U.S. Treasury Secretary Steven Mnuchin raised serious questions about OECD international tax reform proposals in a letter made public on Wednesday, jarring international officials by floating the idea of a “safe harbor regime”. Le Maire said that would mean U.S. companies could opt in or out


France rejects a U.S. proposal this week that would let companies opt out of a proposed international tax reform, Finance Minister Bruno Le Maire said on Friday, urging Washington to negotiate in good faith.
U.S. Treasury Secretary Steven Mnuchin raised serious questions about OECD international tax reform proposals in a letter made public on Wednesday, jarring international officials by floating the idea of a “safe harbor regime”.
Le Maire said that would mean U.S. companies could opt in or out
France says U.S. proposal on international tax reform unacceptable Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, negotiate, reform, tax, maire, france, opt, companies, unacceptable, washington, proposal, international, oecd


France says U.S. proposal on international tax reform unacceptable

France rejects a U.S. proposal this week that would let companies opt out of a proposed international tax reform, Finance Minister Bruno Le Maire said on Friday, urging Washington to negotiate in good faith.

U.S. Treasury Secretary Steven Mnuchin raised serious questions about OECD international tax reform proposals in a letter made public on Wednesday, jarring international officials by floating the idea of a “safe harbor regime”.

Le Maire said that would mean U.S. companies could opt in or out as they pleased, which he said would be unacceptable to France and other OECD countries.

He urged Washington therefore to negotiate on the basis that the new tax rules be binding, and said if the efforts at the OECD fell through EU countries should revive talks for a European digital tax.


Company: cnbc, Activity: cnbc, Date: 2019-12-06
Keywords: news, cnbc, companies, negotiate, reform, tax, maire, france, opt, companies, unacceptable, washington, proposal, international, oecd


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

We cannot accept Facebook’s Libra project without strict rules, France’s finance minister says

Facebook’s Libra project cannot be accepted without a strong set of rules, France’s Finance Minister Bruno Le Maire told CNBC Wednesday. Facebook’s latest plan for a cryptocurrency — Libra — has been heavily criticized by policymakers around the world, including U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. Speaking to CNBC ahead of a meeting of finance ministers from the seven largest world economies, Le Maire said that Libra raises questions about money lau


Facebook’s Libra project cannot be accepted without a strong set of rules, France’s Finance Minister Bruno Le Maire told CNBC Wednesday. Facebook’s latest plan for a cryptocurrency — Libra — has been heavily criticized by policymakers around the world, including U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. Speaking to CNBC ahead of a meeting of finance ministers from the seven largest world economies, Le Maire said that Libra raises questions about money lau
We cannot accept Facebook’s Libra project without strict rules, France’s finance minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: silvia amaro
Keywords: news, cnbc, companies, states, facebooks, world, strong, told, le, accept, rules, libra, kind, finance, minister, project, frances, maire, strict


We cannot accept Facebook's Libra project without strict rules, France's finance minister says

Facebook’s Libra project cannot be accepted without a strong set of rules, France’s Finance Minister Bruno Le Maire told CNBC Wednesday.

Facebook’s latest plan for a cryptocurrency — Libra — has been heavily criticized by policymakers around the world, including U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. Speaking to CNBC ahead of a meeting of finance ministers from the seven largest world economies, Le Maire said that Libra raises questions about money laundering and terrorism financing.

“I would say this is first of all a question of sovereignty. You have states, the United States, France, Germany, Italy — all sovereign states with sovereign currencies: dollar, euro and so on and they are sticking to some very strong commitments, some very strong rules. We cannot accept a new currency having the exact same kind of power, without the same kind of rules, without the same kind of commitments and without the same kind of obligations,” Bruno Le Maire told CNBC’s Steve Sedgwick in Chantilly, France.

“There is also a concern about money laundering, there’s a concern about the funding of terrorism,” Le Maire also said.

“How could we accept to have now a new currency which wouldn’t stick to the same kind of obligation(s),” he added.

In an attempt to address some of the ongoing concerns over its cryptocurrency plan, Facebook said on Tuesday that Switzerland’s data protection agency will oversee data and privacy protections. However, CNBC reported later on Tuesday that Facebook hadn’t actually reached out to the Swiss regulator on this issue.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: silvia amaro
Keywords: news, cnbc, companies, states, facebooks, world, strong, told, le, accept, rules, libra, kind, finance, minister, project, frances, maire, strict


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

French Finance Minister Le Maire: ‘A trade war would mean an economic crisis all over the world, and especially in Europe’

In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world’s two largest economies. “We do not have the growth figures we should have because of the trade tensions between the U.S. and China,” Le Marie said. “I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe,” he told CNBC’s Nancy Hungerford. Le Maire isn’t the only European official concerned about the trade tensions. Le Maire said tha


In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world’s two largest economies. “We do not have the growth figures we should have because of the trade tensions between the U.S. and China,” Le Marie said. “I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe,” he told CNBC’s Nancy Hungerford. Le Maire isn’t the only European official concerned about the trade tensions. Le Maire said tha
French Finance Minister Le Maire: ‘A trade war would mean an economic crisis all over the world, and especially in Europe’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: grace shao
Keywords: news, cnbc, companies, finance, war, mean, tensions, china, economy, le, trade, meeting, maire, minister, french, europe, world


French Finance Minister Le Maire: 'A trade war would mean an economic crisis all over the world, and especially in Europe'

If trade tensions between the U.S. and China continue to escalate, that may have a “direct and very negative impact all over the world, especially Europe and the Eurozone, ” according to French Finance and Economy Minister Bruno Le Maire.

In fact, Le Maire said the tariffs battle, which kicked off last year, has already reached beyond the world’s two largest economies. Speaking with CNBC over the weekend at the G-20 Finance Ministers Meeting in Fukuoka, Japan, he said Europe is already performing worse than it otherwise would because of the ongoing U.S.-China trade war.

He pointed, in particular, to the French and German economies as examples of those caught in the crossfire.

“We do not have the growth figures we should have because of the trade tensions between the U.S. and China,” Le Marie said.

“I want to be very clear, a trade war would mean an economic crisis all over the world, and especially in Europe,” he told CNBC’s Nancy Hungerford.

Le Maire isn’t the only European official concerned about the trade tensions. Pierre Moscovici, European commissioner for economic and financial affairs, taxation and customs, expressed the same sentiment.

“We are of course concerned by the trade tensions (between the U.S. and China) … because we are the most open economy in the world,” said Moscovici. “That’s why we are so attached and it is one of our values to free economy, to open economy, to free trade, to multilateralism, that’s why we’re so reluctant against protectionism.”

Moscovici emphasized, “The trade tensions is the worst threat to the world economy.”

Le Maire said that, during a recent meeting with U.S. Treasury Secretary Steven Mnuchin, the American official suggested he wants to avoid escalating the trade war. That will depend, however, on the results of the highly anticipated meeting between Chinese President Xi Jinping and U.S. President Donald Trump later this month.


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: grace shao
Keywords: news, cnbc, companies, finance, war, mean, tensions, china, economy, le, trade, meeting, maire, minister, french, europe, world


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Le Maire blasts EU decision to block Alstom-Siemens merger

France’s finance minister expressed his disappointment at a recent EU decision to block a major rail merger, calling for competition rules to be changed to enable European firms to become stronger on the global stage. Bruno Le Maire told CNBC’s Hadley Gamble at the World Government Summit in Dubai on Sunday. The merger proposal between the French and the German companies planned to create a European rail champion with revenues of about 15 billion euros ($17 billion). The merger proposal referred


France’s finance minister expressed his disappointment at a recent EU decision to block a major rail merger, calling for competition rules to be changed to enable European firms to become stronger on the global stage. Bruno Le Maire told CNBC’s Hadley Gamble at the World Government Summit in Dubai on Sunday. The merger proposal between the French and the German companies planned to create a European rail champion with revenues of about 15 billion euros ($17 billion). The merger proposal referred
Le Maire blasts EU decision to block Alstom-Siemens merger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-10  Authors: natasha turak, eric peirmont, afp, getty images
Keywords: news, cnbc, companies, blasts, european, siemens, competition, le, decision, alstomsiemens, rail, rise, german, eu, maire, merger, proposal, block


Le Maire blasts EU decision to block Alstom-Siemens merger

France’s finance minister expressed his disappointment at a recent EU decision to block a major rail merger, calling for competition rules to be changed to enable European firms to become stronger on the global stage.

“Let’s have a look at reality — we are facing a huge challenge with the rise of the Chinese industry. What do we do — shall we divide the European forces, or try to merge the European forces from the industrial point of view?” Bruno Le Maire told CNBC’s Hadley Gamble at the World Government Summit in Dubai on Sunday.

His comments come after the European Union blocked a rail deal between Alstom and Siemens on Wednesday, citing competition concerns. The merger proposal between the French and the German companies planned to create a European rail champion with revenues of about 15 billion euros ($17 billion). The merger proposal referred only to the companies’ transport services and would have combined them into one new firm, solely controlled by Siemens.

The EU’s competition authority specified that the proposed merger would have created an “undisputed” market leader in several mainline signaling markets, as well as reducing the number of suppliers by removing one of the two largest manufacturers of very high-speed rolling stock.

Both the German and French governments had supported the merger, believing the deal would’ve been a good counter to the economic rise of China.

“I think it was a mistake from the EU commission to refuse that merger between Alstom and Siemens,” Le Maire added.


Company: cnbc, Activity: cnbc, Date: 2019-02-10  Authors: natasha turak, eric peirmont, afp, getty images
Keywords: news, cnbc, companies, blasts, european, siemens, competition, le, decision, alstomsiemens, rail, rise, german, eu, maire, merger, proposal, block


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

French finance minister confirms that Ghosn has resigned from Renault

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos. “Carlos Ghosn just resigned last night,” said Le Maire. Renault’s board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn’s arrest in Japan for alleged financial misconduct. The meeting will start at 0900 GMT and consider the proposed appointment of


Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos. “Carlos Ghosn just resigned last night,” said Le Maire. Renault’s board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn’s arrest in Japan for alleged financial misconduct. The meeting will start at 0900 GMT and consider the proposed appointment of
French finance minister confirms that Ghosn has resigned from Renault Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, world, resigned, ghosns, thierry, finance, renault, le, french, told, minister, tensions, confirms, maire, ghosn


French finance minister confirms that Ghosn has resigned from Renault

Carlos Ghosn has resigned from French carmaker Renault, French finance minister Bruno Le Maire told Bloomberg Television in an interview at the World Economic Forum in Davos.

“Carlos Ghosn just resigned last night,” said Le Maire. Renault’s board will meet on Thursday to replace Ghosn, in a move that could help ease tensions with alliance partner Nissan following Ghosn’s arrest in Japan for alleged financial misconduct.

The meeting will start at 0900 GMT and consider the proposed appointment of outgoing Michelin boss Jean-Dominique Senard as chairman and the promotion of Ghosn’s deputy Thierry Bollore to CEO, three sources familiar with the matter have told Reuters. 


Company: cnbc, Activity: cnbc, Date: 2019-01-24  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, world, resigned, ghosns, thierry, finance, renault, le, french, told, minister, tensions, confirms, maire, ghosn


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Paris informs Tokyo it wants Renault and Nissan to integrate

A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday. The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire


A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday. The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire
Paris informs Tokyo it wants Renault and Nissan to integrate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-20  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, tokyo, wants, senard, paris, newspaper, integrate, maire, ghosn, french, le, renault, jeandominique, informs, nissan


Paris informs Tokyo it wants Renault and Nissan to integrate

A French government delegation has informed Tokyo that it would seek an integration of Renault and Nissan, most likely under the umbrella of a single holding company, the Nikkei reported on Sunday.

The delegation, which included French government-designated Renault director Martin Vial, also said that it wanted to name Nissan’s next chairman, according to the report. Nissan was not immediately available for comment.

Nissan ex-chairman Carlos Ghosn, arrested and detained in Tokyo since Nov. 19, has been indicted in Japan on charges of under-reporting his salary for eight years through March 2018, and temporarily transferring personal investment losses to Nissan during the global financial crisis. Ghosn has denied all charges.

The French government has requested Renault hold a board meeting in coming days to replace Ghosn. Finance Minister Bruno Le Maire said in a newspaper interview published on Sunday that Michelin (MICP.PA) Chief Executive Jean-Dominique Senard could be a good choice to head Renault.

“The French state, as shareholder, will have its say. What I can tell you, is that Jean-Dominique Senard has a renowned competence with regards to the automobile industry,” Le Maire told France’s Journal du Dimanche newspaper.


Company: cnbc, Activity: cnbc, Date: 2019-01-20  Authors: patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, tokyo, wants, senard, paris, newspaper, integrate, maire, ghosn, french, le, renault, jeandominique, informs, nissan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post