Article 43AFF Nissan shares slide after Carlos Ghosn's arrest shocks Japan – business live

Nissan shares slide after Carlos Ghosn's arrest shocks Japan – business live

by
Graeme Wearden
from World news | The Guardian on (#43AFF)

All the day's economic and financial news, including the latest on the Carlos Ghosn investigation and a Bank of England hearing at the UK parliament

8.55am GMT

My colleague Nils Pratley predicts that Ghosn's arrest will trigger an almighty battle between Japan and France for control of the Nissan-Renault-Mitsubishi alliance.

He's also struck by Nissan's willingness to "trash" Ghosn, as if he'd already been found guilty in the courts....

They do corporate scandals differently in Japan. The downfall of Carlos Ghosn over alleged under-statement of income and "numerous" acts of misconduct was spectacular in its own right, but the accompanying press conference by Nissan chief executive Hiroto Saikawa was an event in itself.

Saikawa did not merely report the allegations against his chairman, which is what you might expect on day one in equivalent circumstances at a European and US company. He also trashed Ghosn's legacy, criticised his decision-making and speculated as to how the alleged misdeeds could have happened. That content would normally be reserved for the full corporate post-mortem, or at least until the legal process had run its course.

Related: Carlos Ghosn's arrest may spark a French-Japanese bunfight | Nils Pratley

8.35am GMT

More details of the allegations against Carlos Ghosn have emerged today.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://www.theguardian.com/world/rss
Feed Title World news | The Guardian
Feed Link https://www.theguardian.com/world
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments