Fugitive former Nissan boss Carlos Ghosn on Thursday said that he alone set up his flight to Lebanon and Japan.

"The media reports saying my wife Carole and other family members played a role in my departure from Japan are falsehoods. I alone organised my departure," News agency AFP reported citing an official statement by Ghosn.

Ghosn has become an international fugitive after he revealed on Tuesday he had fled to Lebanon to escape what he called a "rigged" justice system in Japan.

According to a report, Ghosn, who holds French, Lebanese and Brazilian citizenship, was smuggled out of Tokyo by a private security company, a plan that was in the works for three months and involved transit through Turkey.

Watch | 'The Great Escape' of ex-Nissan boss Carlos Ghosn

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Flight tracking data suggests Ghosn used two different planes to fly to Istanbul and then to Lebanon.

Sources close to Ghosn said he decided to flee Japan after learning that the second of his two trials had been delayed until April 2021 and also because he had not been allowed to speak to his wife as part of strict bail conditions.

Earlier in the day, Lebanon received an arrest warrant for Carlos from Interpol. Meanwhile, Turkey has also launched an investigation into the daring escape of Ghosn.

Ghosn was also CEO of French car-maker Renault before being ousted from the auto industry after being arrested in Japan in November on charges of financial misconduct.

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Fugitive former Nissan boss Carlos Ghosn on Thursday said that he alone set up his flight to Lebanon and Japan. "The media reports saying my wife Carole and other family members played a role in my departure from Japan are falsehoods.

Fugitive former Nissan boss Carlos Ghosn on Thursday said that he alone set up his flight to Lebanon and Japan. "The media reports saying my wife Carole and other family members played a role in my departure from Japan are falsehoods. I alone organised my departure," News agency AFP reported citing an official statement by Ghosn. Ghosn has become an international fugitive after he revealed on Tuesday he had fled to Lebanon to escape what he called a "rigged" justice system in Japan. According to a report, Ghosn, who holds French, Lebanese and Brazilian citizenship, was smuggled out of Tokyo by a private security company, a plan that was in the works for three months and involved transit through Turkey. Watch | 'The Great Escape' of ex-Nissan boss Carlos Ghosn × Flight tracking data suggests Ghosn used two different planes to fly to Istanbul and then to Lebanon. Sources close to Ghosn said he decided to flee Japan after learning that the second of his two trials had been delayed until April 2021 and also because he had not been allowed to speak to his wife as part of strict bail conditions. Earlier in the day, Lebanon received an arrest warrant for Carlos from Interpol. Meanwhile, Turkey has also launched an investigation into the daring escape of Ghosn. Ghosn was also CEO of French car-maker Renault before being ousted from the auto industry after being arrested in Japan in November on charges of financial misconduct.

'I alone organised my departure' from Japan: Fugitive Carlos Ghosn

France "will not extradite" Carlos Ghosn if the former Nissan boss, who fled Japan to avoid a trial and who has French citizenship, arrived in the country, a minister said Monday.

"If Mr Ghosn arrived in France, we will not extradite Mr Ghosn because France never extradites its nationals," junior economy minister Agnes Pannier-Runacher told France's BFM news channel.

The French government nonetheless considered that Ghosn, who is of Lebanese origin and who fled house arrest in Tokyo to Beirut on Monday, "should not have absconded from the Japanese justice system."

"No one is above the law," the minister said.&nbsp;

But if he arrived in France and Japan then demanded that Paris extradite him, " we will apply the same rules to Mr Ghosn as to the man in the street", she added.

Ghosn was also CEO of French car-maker Renault before being ousted from the auto industry after being arrested in Japan in November on charges of financial misconduct.

He is also under investigation in France but has not yet been charged with any crime in the country.

It is not clear how he managed to leave Japan. His bail conditions barred him from leaving the country.

France "will not extradite" Carlos Ghosn if the former Nissan boss, who fled Japan to avoid a trial and who has French citizenship, arrived in the country, a minister said Monday.

France "will not extradite" Carlos Ghosn if the former Nissan boss, who fled Japan to avoid a trial and who has French citizenship, arrived in the country, a minister said Monday. "If Mr Ghosn arrived in France, we will not extradite Mr Ghosn because France never extradites its nationals," junior economy minister Agnes Pannier-Runacher told France's BFM news channel. The French government nonetheless considered that Ghosn, who is of Lebanese origin and who fled house arrest in Tokyo to Beirut on Monday, "should not have absconded from the Japanese justice system." "No one is above the law," the minister said. But if he arrived in France and Japan then demanded that Paris extradite him, " we will apply the same rules to Mr Ghosn as to the man in the street", she added. Ghosn was also CEO of French car-maker Renault before being ousted from the auto industry after being arrested in Japan in November on charges of financial misconduct. He is also under investigation in France but has not yet been charged with any crime in the country. It is not clear how he managed to leave Japan. His bail conditions barred him from leaving the country.

France 'won't extradite' Ghosn if he arrives in country: Government

A year on from the shock fall of boss Carlos Ghosn, the Renault-Nissan automobile alliance is bent on a reboot to leave behind the upheaval and dust kicked up by the affair.

The giant task falls to new board chairman Jean-Dominique Senard in the context of the car industry as a whole racing to meet huge new challenges.

Ghosn revelled in taking the two partners to the forefront of the carmaking game.

A total of 10.76 million vehicles sold last year along with ally Mitsubishi Motor put the trio ahead of Toyota and Volkswagen.

But this year saw volumes slide back again below those of both rivals.

The demise of the authoritarian Ghosn following his arrest on financial misconduct charges lifted the lid on an empire riven with internal conflict as he straddled the chairmanship of three companies, concentrating all power in himself.

"The unity of command masked the incredible diversity of forces at work. When that exploded it liberated them," says one highly-placed official within the alliance.

In one corner, feeling they were the standout part of the partnership yet long seeing themselves as under-valued, were the Japanese behind Nissan director Hiroto Saikawa.

In the other, foursquare behind Renault's then chief executive Thierry Bollore, the French contingent nursed a sense of betrayal at a secret Nissan investigation which had delivered Ghosn into the hands of the Japanese judiciary.

Unlike Volkswagen or Toyota, the alliance is not an integrated group but a partnership based on cross-shareholdings without a joint structure. Renault holds 43 per cent of Nissan, which has a 15 per cent stake in Renault and a 34 per cent controlling stake in Mitsubishi.

Lost year

Since the Ghosn affair burst into the open last November, there has been no means of achieving constructive dialogue or decision making, meaning a year has been lost as a result.

Last month saw the quickfire departures of both Saikawa and Bollore which did allow one page to be turned.

"There were excesses on both sides and sparks flew. But there has been a clean-up at Nissan as well as Renault. The people now in place are all convinced of the need to reinforce the alliance," said one source close to Nissan.

Ongoing problems include profitability and cash generation amid the burning need for technological innovations including electric and autonomous cars in a shrinking market.

Renault and Nissan have reduced operational margin targets for this year to five and 1.4 per cent of sales respectively.

That compares with Volkswagen's 6.5 to 7.5 per cent despite it having to bounce back from an emissions scandal which cost it tens of billions in fines. Toyota tops that with more than eight per cent.

Invisible synergies

"For a longstanding partnership" of 20 years "it is a little surprising that the synergies which should have existed for a long time don't show up in the figures," commented Vittoria Ferraris, an analyst with S&amp;P Global Ratings, which recently lowered its rating for Renault and put Nissan's on negative watch.

But Senard recently insisted that "you will be surprised at the strength of the alliance in the months ahead".

He added that the last meeting of the partner boards "was one of the most positive since I arrived".

After failing to deliver a hoped-for merger with Fiat Chrysler,&nbsp;now set to seal the deal with French rival PSA, the alliance is looking for new initiatives.

Debate on governance reform remains on the table, with the Japanese wanting a tilt in their favour.

Given Renault's strength in Europe and Nissan's in the USA and China, the pair are geographically complementary and could pool expertise on the move to electric power.

But Ferraris warns that while "the tough market will provide strong motivation... the problem is the time that will take".

A year on from the shock fall of boss Carlos Ghosn, the Renault-Nissan automobile alliance is bent on a reboot to leave behind the upheaval and dust kicked up by the affair.

A year on from the shock fall of boss Carlos Ghosn, the Renault-Nissan automobile alliance is bent on a reboot to leave behind the upheaval and dust kicked up by the affair. The giant task falls to new board chairman Jean-Dominique Senard in the context of the car industry as a whole racing to meet huge new challenges. Ghosn revelled in taking the two partners to the forefront of the carmaking game. A total of 10.76 million vehicles sold last year along with ally Mitsubishi Motor put the trio ahead of Toyota and Volkswagen. But this year saw volumes slide back again below those of both rivals. The demise of the authoritarian Ghosn following his arrest on financial misconduct charges lifted the lid on an empire riven with internal conflict as he straddled the chairmanship of three companies, concentrating all power in himself. "The unity of command masked the incredible diversity of forces at work. When that exploded it liberated them," says one highly-placed official within the alliance. In one corner, feeling they were the standout part of the partnership yet long seeing themselves as under-valued, were the Japanese behind Nissan director Hiroto Saikawa. In the other, foursquare behind Renault's then chief executive Thierry Bollore, the French contingent nursed a sense of betrayal at a secret Nissan investigation which had delivered Ghosn into the hands of the Japanese judiciary. Unlike Volkswagen or Toyota, the alliance is not an integrated group but a partnership based on cross-shareholdings without a joint structure. Renault holds 43 per cent of Nissan, which has a 15 per cent stake in Renault and a 34 per cent controlling stake in Mitsubishi. Lost year Since the Ghosn affair burst into the open last November, there has been no means of achieving constructive dialogue or decision making, meaning a year has been lost as a result. Last month saw the quickfire departures of both Saikawa and Bollore which did allow one page to be turned. "There were excesses on both sides and sparks flew. But there has been a clean-up at Nissan as well as Renault. The people now in place are all convinced of the need to reinforce the alliance," said one source close to Nissan. Ongoing problems include profitability and cash generation amid the burning need for technological innovations including electric and autonomous cars in a shrinking market. Renault and Nissan have reduced operational margin targets for this year to five and 1.4 per cent of sales respectively. That compares with Volkswagen's 6.5 to 7.5 per cent despite it having to bounce back from an emissions scandal which cost it tens of billions in fines. Toyota tops that with more than eight per cent. Invisible synergies "For a longstanding partnership" of 20 years "it is a little surprising that the synergies which should have existed for a long time don't show up in the figures," commented Vittoria Ferraris, an analyst with S&P Global Ratings, which recently lowered its rating for Renault and put Nissan's on negative watch. But Senard recently insisted that "you will be surprised at the strength of the alliance in the months ahead". He added that the last meeting of the partner boards "was one of the most positive since I arrived". After failing to deliver a hoped-for merger with Fiat Chrysler, now set to seal the deal with French rival PSA, the alliance is looking for new initiatives. Debate on governance reform remains on the table, with the Japanese wanting a tilt in their favour. Given Renault's strength in Europe and Nissan's in the USA and China, the pair are geographically complementary and could pool expertise on the move to electric power. But Ferraris warns that while "the tough market will provide strong motivation... the problem is the time that will take".

Renault-Nissan alliance in flux a year after Ghosn shock

Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn.

Nissan downgraded its net profit forecast to 110 billion yen ($1 billion) for the fiscal year to March 2020, compared with an earlier estimate of 170 billion yen.

Full-year sales are now estimated at 10.6 trillion yen, down from a previous forecast of 11.3 trillion yen.

Nissan blamed the poor outlook on weak first-half earnings, a strong yen, an uncertain global outlook and the stagnation of the car industry in general.

Incoming chief financial officer Stephen Ma said, "Sales in China outpaced the market but sales in other key regions including the US, Europe and Japan underperformed in those markets. This resulted in the overall decrease of our market share."

Net profit for the six months to September plunged 73.5 per cent to 65.4 billion yen, the worst first-half result since the global financial crisis a decade ago.

"Nissan is in a very severe situation at a time when competition in the global auto market is further intensifying," said Satoru Takada, auto analyst at TIW, a Tokyo-based research and consulting firm.

It was Nissan's first earnings announcement since the appointment last month of Makoto Uchida as new chief executive, elevating the insider heading the firm's China unit as it overhauls its leadership after the Ghosn scandal.

Uchida's appointment, to take effect on December 1, came after months of turmoil for the automaker in the wake of the arrest of former chief Ghosn on allegations of financial misconduct.

Former CEO Hiroto Saikawa resigned in September after an investigation prompted by the Ghosn scandal revealed he was among Nissan executives who received excess pay by altering the terms of a share price bonus.

"Nissan's new management is setting sail in a storm," Takada told AFP.

"Uchida is expected to show new strategies for Nissan's survival," he said.

'Additional restructuring'

The automaker has cited a global slowdown in the auto sector, but it is also suffering from a lack of innovation on its production line and reputational damage from the Ghosn scandal.

Uchida inherits the harsh cost-cutting measures Saikawa proposed as a way out of the crisis -- including reducing dealer incentives and promotions but also cutting global production by 10 per cent to 2023 -- a measure that means the loss of 12,500 jobs.

"Additional restructuring is possible in the wake of the layoff plan," Takada said.

Asked about possible fresh job losses, Nissan official Ma said no new announcement would be made until the full new management team is in place on December 1.

The company is "very urgently working" to improve sales and profitability, Ma said.

Nissan separately said it would hold a shareholder meeting next February to put forward a plan to appoint new directors.&nbsp;

Adding to Nissan's woes is continued tension within the three-way alliance with Mitsubishi Motors and Renault.

Ghosn, who created the alliance, wanted greater integration with France's Renault and says his push for that prompted angry Nissan executives to plot against him.

The two firms have made a show of holding the marriage together in the wake of Ghosn's arrest, but tensions have bubbled to the surface.

Renault holds a 43 per cent stake in the Japanese automaker, which in turn controls 15 per cent of the French firm but has no voting rights.

"The negative impact of the furore around Ghosn is gradually becoming visible," Takada said. "The alliance is facing a crucial stage," he added.

Ghosn is out on bail in Tokyo, awaiting a trial that reports have suggested could start in April on charges of under-reporting millions of dollars in salary and using company funds for personal expenses.

He denies any wrongdoing.

Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn.

Crisis-hit Japanese automaker Nissan Tuesday slashed its full-year forecast for both sales and profit as it struggles with weak demand in Japan, the US and Europe, as well as fallout from the arrest of former boss Carlos Ghosn. Nissan downgraded its net profit forecast to 110 billion yen ($1 billion) for the fiscal year to March 2020, compared with an earlier estimate of 170 billion yen. Full-year sales are now estimated at 10.6 trillion yen, down from a previous forecast of 11.3 trillion yen. Nissan blamed the poor outlook on weak first-half earnings, a strong yen, an uncertain global outlook and the stagnation of the car industry in general. Incoming chief financial officer Stephen Ma said, "Sales in China outpaced the market but sales in other key regions including the US, Europe and Japan underperformed in those markets. This resulted in the overall decrease of our market share." Net profit for the six months to September plunged 73.5 per cent to 65.4 billion yen, the worst first-half result since the global financial crisis a decade ago. "Nissan is in a very severe situation at a time when competition in the global auto market is further intensifying," said Satoru Takada, auto analyst at TIW, a Tokyo-based research and consulting firm. It was Nissan's first earnings announcement since the appointment last month of Makoto Uchida as new chief executive, elevating the insider heading the firm's China unit as it overhauls its leadership after the Ghosn scandal. Uchida's appointment, to take effect on December 1, came after months of turmoil for the automaker in the wake of the arrest of former chief Ghosn on allegations of financial misconduct. Former CEO Hiroto Saikawa resigned in September after an investigation prompted by the Ghosn scandal revealed he was among Nissan executives who received excess pay by altering the terms of a share price bonus. "Nissan's new management is setting sail in a storm," Takada told AFP. "Uchida is expected to show new strategies for Nissan's survival," he said. 'Additional restructuring' The automaker has cited a global slowdown in the auto sector, but it is also suffering from a lack of innovation on its production line and reputational damage from the Ghosn scandal. Uchida inherits the harsh cost-cutting measures Saikawa proposed as a way out of the crisis -- including reducing dealer incentives and promotions but also cutting global production by 10 per cent to 2023 -- a measure that means the loss of 12,500 jobs. "Additional restructuring is possible in the wake of the layoff plan," Takada said. Asked about possible fresh job losses, Nissan official Ma said no new announcement would be made until the full new management team is in place on December 1. The company is "very urgently working" to improve sales and profitability, Ma said. Nissan separately said it would hold a shareholder meeting next February to put forward a plan to appoint new directors. Adding to Nissan's woes is continued tension within the three-way alliance with Mitsubishi Motors and Renault. Ghosn, who created the alliance, wanted greater integration with France's Renault and says his push for that prompted angry Nissan executives to plot against him. The two firms have made a show of holding the marriage together in the wake of Ghosn's arrest, but tensions have bubbled to the surface. Renault holds a 43 per cent stake in the Japanese automaker, which in turn controls 15 per cent of the French firm but has no voting rights. "The negative impact of the furore around Ghosn is gradually becoming visible," Takada said. "The alliance is facing a crucial stage," he added. Ghosn is out on bail in Tokyo, awaiting a trial that reports have suggested could start in April on charges of under-reporting millions of dollars in salary and using company funds for personal expenses. He denies any wrongdoing.

Crisis-hit Nissan chops forecasts, net profit worst for a decade

Renault were&nbsp;stripped of their nine points from the Japanese Grand Prix on Wednesday after Formula One's governing body ruled the cars driven by Daniel Ricciardo and Nico Hulkenberg had illegal driver aids.

Australian Ricciardo and German Hulkenberg were classified sixth and 10th at the October 13 race in Suzuka but the Racing Point team protested against the brake bias system used by the French manufacturer.

The governing FIA announced the outcome in a statement ahead of the Mexican Grand Prix and gave Renault until Thursday to appeal.

Renault acknowledged the decision and did not say whether they would appeal.

"Considering the subjectivity of the qualification of a system as a driver aid and the variability of the associated penalties in recent cases, Renault F1 Team will consider its next course of action within the timeframe laid out by the FIA," the team said.

Renault's points haul in Japan had consolidated their fifth place in the constructors' standings, but their cars' steering wheels and electronic control units were impounded after the race.

The FIA said the stewards concluded after a telephone hearing that the brake bias system "used innovative solutions to exploit certain ambiguities" and did not breach the technical regulations.

They also found that the system was not pre-set or lap distance-dependent as alleged.

The system, however, acted as a driver aid and that was not allowed under the sporting regulations.

"The brake balance adjustment system in question acts as a driver aid, by saving the driver from having to make a number of adjustments during a lap," the statement said.

"The stewards note that there is a clear distinction between this system and one which provides actual feedback control, which would be a substitute for driver skills or reflexes," it added.

"Nevertheless, it is still an aid and, therefore, contravenes."

Renault had argued in their defence that Racing Point could produce no conclusive video evidence and had based their protest on allegations by a former Renault employee who was unaware of all the details.

The disqualification lifts Ferrari's Charles Leclerc to sixth with Toro Rosso's Pierre Gasly and Racing Point's Sergio Perez now seventh and eighth.

Racing Point's Lance Stroll is ninth and Toro Rosso's Daniil Kvyat 10th.

Toro Rosso and Racing Point are also closer to Renault in the constructors' standings with four races to go.

Renault were stripped of their nine points from the Japanese Grand Prix on Wednesday after Formula One's governing body ruled the cars driven by Daniel Ricciardo and Nico Hulkenberg had illegal driver aids.

Renault were stripped of their nine points from the Japanese Grand Prix on Wednesday after Formula One's governing body ruled the cars driven by Daniel Ricciardo and Nico Hulkenberg had illegal driver aids. Australian Ricciardo and German Hulkenberg were classified sixth and 10th at the October 13 race in Suzuka but the Racing Point team protested against the brake bias system used by the French manufacturer. The governing FIA announced the outcome in a statement ahead of the Mexican Grand Prix and gave Renault until Thursday to appeal. Renault acknowledged the decision and did not say whether they would appeal. "Considering the subjectivity of the qualification of a system as a driver aid and the variability of the associated penalties in recent cases, Renault F1 Team will consider its next course of action within the timeframe laid out by the FIA," the team said. Renault's points haul in Japan had consolidated their fifth place in the constructors' standings, but their cars' steering wheels and electronic control units were impounded after the race. The FIA said the stewards concluded after a telephone hearing that the brake bias system "used innovative solutions to exploit certain ambiguities" and did not breach the technical regulations. They also found that the system was not pre-set or lap distance-dependent as alleged. The system, however, acted as a driver aid and that was not allowed under the sporting regulations. "The brake balance adjustment system in question acts as a driver aid, by saving the driver from having to make a number of adjustments during a lap," the statement said. "The stewards note that there is a clear distinction between this system and one which provides actual feedback control, which would be a substitute for driver skills or reflexes," it added. "Nevertheless, it is still an aid and, therefore, contravenes." Renault had argued in their defence that Racing Point could produce no conclusive video evidence and had based their protest on allegations by a former Renault employee who was unaware of all the details. The disqualification lifts Ferrari's Charles Leclerc to sixth with Toro Rosso's Pierre Gasly and Racing Point's Sergio Perez now seventh and eighth. Racing Point's Lance Stroll is ninth and Toro Rosso's Daniil Kvyat 10th. Toro Rosso and Racing Point are also closer to Renault in the constructors' standings with four races to go.

Renault stripped of Japanese Grand Prix points

The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter.

Renault, along with alliance partner Nissan, is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies.

Bollore, who had long been Ghosn's right-hand man, was promoted to help steady Renault this year, with Jean-Dominique Senard hired from Michelin to chair the group, shares in which rose 2.7 per cent in morning trade.

Officials at Renault were not immediately available to comment.

Bollore had skirted the matter of his potential exit in a conversation with staff on Thursday, two company sources said, but in a later interview with French newspaper Les Echos, he described his possible departure as a "coup".

Renault finance chief Clotilde Delbos has been&nbsp;named as interim CEO to replace Bollore.&nbsp;

The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter. Renault, along with alliance partner Nissan, is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies.

The board of French carmaker Renault on Friday voted in favor of ousting Thierry Bollore as CEO, said two sources familiar with the matter. Renault, along with alliance partner Nissan, is still reeling from the arrest in Tokyo last year of former boss Carlos Ghosn on allegations of financial misconduct, which Ghosn denies. Bollore, who had long been Ghosn's right-hand man, was promoted to help steady Renault this year, with Jean-Dominique Senard hired from Michelin to chair the group, shares in which rose 2.7 per cent in morning trade. Officials at Renault were not immediately available to comment. Bollore had skirted the matter of his potential exit in a conversation with staff on Thursday, two company sources said, but in a later interview with French newspaper Les Echos, he described his possible departure as a "coup". Renault finance chief Clotilde Delbos has been named as interim CEO to replace Bollore.

Renault board votes to oust Thierry Bollore as CEO: Sources

The chairman of <a href="https://www.wionews.com/business-economy/nissan-considers-giving-renault-some-seats-on-oversight-committees-source-227300">France's Renault&nbsp;is set to kick off a process to replace the Chief Executive</a>&nbsp;Thierry Bollore, business daily Le Figaro reported, as the carmaker tries to move on from an era marked by the arrest of former boss Carlos Ghosn.

According to Tuesday's report, Jean-Dominique Senard, who was brought in to chair Renault earlier this year from tyre maker Michelin, could bring the succession proposal onto the agenda of the next board meeting on October&nbsp;18.

Renault declined to comment on the report, which cited unidentified sources, as did a spokesman for the French finance ministry. The state owns a 15 per cent&nbsp;stake in Renault.

The company, like its alliance partner Nissan Motor C, is still reeling from the arrest last year of Ghosn on allegations of financial misconduct, which he denies.

Bollore, long Ghosn's right-hand man, was also promoted alongside Senard to help steady Renault.

But as well as stabilising the <a href="https://www.wionews.com/business-economy/fiat-renault-merger-good-opportunity-french-minister-225951">alliance with Nissan</a>, Senard was tasked shaking up governance at the firm, one step he had yet to take.

"It's sometimes good to change people who have been in a place for a long time," one source familiar with the French government's thinking said.

Any change at the top of Renault would follow hot on the heels of a management overhaul at Nissan, and could help to ease tensions between the alliance partners.

The Japanese carmaker on Tuesday named a new chief executive, replacing Hiroto Saikawa, who stepped down after he admitted to being improperly overpaid. Makoto Uchida, until now the head of Nissan's China business, is known for his close ties to Renault, which has a 43.3% stake in Nissan.

The chairman of France's Renault is set to kick off a process to replace the Chief Executive Thierry Bollore, business daily Le Figaro reported, as the carmaker tries to move on from an era marked by the arrest of former boss Carlos Ghosn.

The chairman of France's Renault is set to kick off a process to replace the Chief Executive Thierry Bollore, business daily Le Figaro reported, as the carmaker tries to move on from an era marked by the arrest of former boss Carlos Ghosn. According to Tuesday's report, Jean-Dominique Senard, who was brought in to chair Renault earlier this year from tyre maker Michelin, could bring the succession proposal onto the agenda of the next board meeting on October 18. Renault declined to comment on the report, which cited unidentified sources, as did a spokesman for the French finance ministry. The state owns a 15 per cent stake in Renault. The company, like its alliance partner Nissan Motor C, is still reeling from the arrest last year of Ghosn on allegations of financial misconduct, which he denies. Bollore, long Ghosn's right-hand man, was also promoted alongside Senard to help steady Renault. But as well as stabilising the alliance with Nissan, Senard was tasked shaking up governance at the firm, one step he had yet to take. "It's sometimes good to change people who have been in a place for a long time," one source familiar with the French government's thinking said. Any change at the top of Renault would follow hot on the heels of a management overhaul at Nissan, and could help to ease tensions between the alliance partners. The Japanese carmaker on Tuesday named a new chief executive, replacing Hiroto Saikawa, who stepped down after he admitted to being improperly overpaid. Makoto Uchida, until now the head of Nissan's China business, is known for his close ties to Renault, which has a 43.3% stake in Nissan.

Renault to start search for new CEO: Le Figaro

The CEO of crisis-hit Japanese automaker Nissan plans to resign, reports said Monday, as the firm's board meets to discuss an audit launched after former chief Carlos Ghosn's arrest over financial misconduct.

Hiroto Saikawa's reported decision to step down comes days after he admitted receiving <a href="https://www.wionews.com/world/nissan-probe-finds-ceo-saikawa-other-executives-overpaid-in-compliance-failure-report-247752">overpayments</a>, and is the latest blow to the firm after Ghosn's arrest and ouster.

Nissan said it had no immediate comment on the reports, which first emerged overnight.

The timing of Saikawa's resignation, as well as who will succeed him, has reportedly not yet been decided but the embattled CEO is said to have informed several Nissan executives of his decision.

Nissan's board, including executives from the firm's alliance partner Renault, will meet at the company's Yokohama headquarters outside Tokyo from Monday afternoon.

Their discussions, which will include the results of an internal Nissan audit, are expected to "run late into the night", sources told AFP.

Alleged overpayments

The audit was launched in the wake of the Ghosn scandal but appears to have implicated Saikawa and other executives for receiving excess pay as part of a scheme under which directors can earn a bonus if their company's share price rises above a certain level in a set period.

Saikawa is suspected of improperly adding 47 million yen ($440,000) to his compensation by altering the terms of a bonus, according to reports.

Nissan has not confirmed the details of the payments, but Saikawa apologized last week while denying any wrongdoing.

"I left the issue to someone else so I had thought it was dealt with in an appropriate manner," he told reporters.

The carmaker is currently undergoing an overhaul intended to strengthen governance after the Ghosn scandal.

In June, Nissan shareholders voted in favour of various measures including the establishment of three new oversight committees responsible for the appointment of senior officials, pay issues and auditing.

They also approved the election of 11 directors as the firm restructures, among them two Renault executives as well as Saikawa.

The reforms are designed to put Nissan on a more stable footing after the arrest of Ghosn, who has been sacked from his leadership roles at the Japanese firm and others.

He is awaiting trial on charges of under-reporting millions of dollars in salary and of using company funds for personal expenses.

Ghosn has denied any wrongdoing and accuses Nissan executives opposed to his plans to further integrate the firm with France's Renault of plotting against him.

Calls for Saikawa's resignation&nbsp;

Saikawa, a one-time Ghosn protege, turned sharply against his former mentor after his arrest, referring to the "dark side" of the tycoon's tenure and accusing him of accruing unchecked power that allowed his alleged wrongdoing to go undetected.

But the CEO has come under pressure himself in the scandal's wake, facing calls to resign from shareholders who view him as too heavily associated with the Ghosn era.

And while he resisted calls to step down immediately, he has said that he plans to hand over the reins after Nissan is back on track.

The Ghosn scandal has proved disastrous for Nissan, which in July announced that net profit plunged nearly 95 per cent in the April-June quarter, and confirmed it would cut 12,500 jobs worldwide.

The Japanese firm has also struggled to steady its relationship with Renault as part of a tripartite alliance with Mitsubishi Motors that Ghosn founded and once led.

Renault holds a 43 per cent stake in the Japanese automaker, which in turn controls 15 per cent of the French firm but has no voting rights -- an arrangement that has caused tensions.

"There are working theories" on a possible reform of the cross-holding structure between the two firms, a source close to the issue told AFP, adding that "nothing is official".

And Nissan faces other challenges, with Bloomberg News reporting that Christina Murray, the executive who led the company's audit, is also resigning, without giving details on why.

The CEO of crisis-hit Japanese automaker Nissan plans to resign, reports said Monday, as the firm's board meets to discuss an audit launched after former chief Carlos Ghosn's arrest over financial misconduct.

The CEO of crisis-hit Japanese automaker Nissan plans to resign, reports said Monday, as the firm's board meets to discuss an audit launched after former chief Carlos Ghosn's arrest over financial misconduct. Hiroto Saikawa's reported decision to step down comes days after he admitted receiving overpayments, and is the latest blow to the firm after Ghosn's arrest and ouster. Nissan said it had no immediate comment on the reports, which first emerged overnight. The timing of Saikawa's resignation, as well as who will succeed him, has reportedly not yet been decided but the embattled CEO is said to have informed several Nissan executives of his decision. Nissan's board, including executives from the firm's alliance partner Renault, will meet at the company's Yokohama headquarters outside Tokyo from Monday afternoon. Their discussions, which will include the results of an internal Nissan audit, are expected to "run late into the night", sources told AFP. Alleged overpayments The audit was launched in the wake of the Ghosn scandal but appears to have implicated Saikawa and other executives for receiving excess pay as part of a scheme under which directors can earn a bonus if their company's share price rises above a certain level in a set period. Saikawa is suspected of improperly adding 47 million yen ($440,000) to his compensation by altering the terms of a bonus, according to reports. Nissan has not confirmed the details of the payments, but Saikawa apologized last week while denying any wrongdoing. "I left the issue to someone else so I had thought it was dealt with in an appropriate manner," he told reporters. The carmaker is currently undergoing an overhaul intended to strengthen governance after the Ghosn scandal. In June, Nissan shareholders voted in favour of various measures including the establishment of three new oversight committees responsible for the appointment of senior officials, pay issues and auditing. They also approved the election of 11 directors as the firm restructures, among them two Renault executives as well as Saikawa. The reforms are designed to put Nissan on a more stable footing after the arrest of Ghosn, who has been sacked from his leadership roles at the Japanese firm and others. He is awaiting trial on charges of under-reporting millions of dollars in salary and of using company funds for personal expenses. Ghosn has denied any wrongdoing and accuses Nissan executives opposed to his plans to further integrate the firm with France's Renault of plotting against him. Calls for Saikawa's resignation Saikawa, a one-time Ghosn protege, turned sharply against his former mentor after his arrest, referring to the "dark side" of the tycoon's tenure and accusing him of accruing unchecked power that allowed his alleged wrongdoing to go undetected. But the CEO has come under pressure himself in the scandal's wake, facing calls to resign from shareholders who view him as too heavily associated with the Ghosn era. And while he resisted calls to step down immediately, he has said that he plans to hand over the reins after Nissan is back on track. The Ghosn scandal has proved disastrous for Nissan, which in July announced that net profit plunged nearly 95 per cent in the April-June quarter, and confirmed it would cut 12,500 jobs worldwide. The Japanese firm has also struggled to steady its relationship with Renault as part of a tripartite alliance with Mitsubishi Motors that Ghosn founded and once led. Renault holds a 43 per cent stake in the Japanese automaker, which in turn controls 15 per cent of the French firm but has no voting rights -- an arrangement that has caused tensions. "There are working theories" on a possible reform of the cross-holding structure between the two firms, a source close to the issue told AFP, adding that "nothing is official". And Nissan faces other challenges, with Bloomberg News reporting that Christina Murray, the executive who led the company's audit, is also resigning, without giving details on why.

Crisis-hit Nissan CEO set to resign as board meets

<a href="https://www.wionews.com/world/renault-to-block-nissans-plan-to-overhaul-governance-structure-report-225818">Nissan Motor Co </a>is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said.

The two-decade-old partnership of Nissan and Renault was plunged into a crisis earlier this week, as the French automaker’ s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm.

Renault, which owns 43.4% of the Japanese firm, signalled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting - unless Renault received representation on new Nissan committees.

Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said.

“Nissan will have to make concessions for our governance reform,” this person said. “Whether two or three seats, we still don’t know how many committees we will be giving to Renault, but we are in talks with Renault to give some seats to someone recommended by Renault.”

Jean-Dominique Senard, Renault’s chairman, said earlier in the week that he was confident of reaching an agreement&nbsp;with Nissan on the composition of the Japanese company’s main board committees. He said he would support Nissan’s governance reform if the Japanese firm allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees.

Nissan had offered to let only Senard sit on the committees but Renault insists its chief executive Thierry Bollore also have a role.

Another source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating.

“There is still a gap ... both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said.

Nissan Motor Co is considering giving its alliance partner Renault SA some seats on planned oversight committees after the French automaker expressed discontent with the envisioned governance reform, a source said. The two-decade-old partnership of Nissan and Renault was plunged into a crisis earlier this week, as the French automaker’ s demand for a greater say in Nissan’s new governance system drew rare public censure by the Japanese firm. Renault, which owns 43.4% of the Japanese firm, signalled it would block Nissan from formally adopting an overhauled governance structure at a June 25 shareholder meeting - unless Renault received representation on new Nissan committees. Nissan is now considering having Renault executives as members of the nomination, audit and compensation committees, a person with direct knowledge said. “Nissan will have to make concessions for our governance reform,” this person said. “Whether two or three seats, we still don’t know how many committees we will be giving to Renault, but we are in talks with Renault to give some seats to someone recommended by Renault.” Jean-Dominique Senard, Renault’s chairman, said earlier in the week that he was confident of reaching an agreement with Nissan on the composition of the Japanese company’s main board committees. He said he would support Nissan’s governance reform if the Japanese firm allowed Renault’s two representatives on Nissan’s board to be part of its powerful committees. Nissan had offered to let only Senard sit on the committees but Renault insists its chief executive Thierry Bollore also have a role. Another source familiar with Nissan’s thinking said that there is no agreement yet on Renault’s recommendations and the two companies are still negotiating. “There is still a gap ... both sides need to make concessions. The question is whether they can narrow (the gap),” this person said.

Nissan considers giving Renault some seats on oversight committees: Source

French anti-fraud police on Thursday searched the residence of former Nissan and<a href="https://www.wionews.com/world/covering-the-carlos-ghosn-saga-japanese-craft-of-burasagari-and-a-bit-of-luck-for-photojournalists-213374"> Renault chief Carlos Ghosn</a> outside Paris as part of a probe into his sumptuous marriage celebrations at the Palace of Versailles in 2016, prosecutors said.

The police went to his home in the town of Etang-la-Ville as part of a preliminary investigation prompted by Renault earlier this year, prosecutors in the district of Nanterre west of Paris said.

Renault has previously signalled to French authorities suspect transactions under Ghosn, who at the peak of his powers was known for his jet-setting and luxury lifestyle.

He is suspected of hiring the entire Palace of Versailles outside Paris in October 2016 to celebrate his marriage, a benefit estimated as being worth&nbsp; $56,000, in exchange for a philanthropy deal between the state-owned property and Renault.

The search marks a new headache for the former Renault CEO, who was also Nissan chairman in the alliance with the Japanese carmaker, after his initial arrest in Tokyo in November.

The 65-year-old Ghosn, who maintains his innocence, is awaiting trial in Japan over charges of under-reporting his salary for years while at Nissan and using company funds for personal expenses.

Finance Minister Bruno Le Maire told French television earlier this month Renault is to bring a case against Ghosn after identifying 11 million euros of questionable expenses.

France holds a 15 per cent stake in Renault.

Ghosn, who is a French citizen, was seen as a titan of the industry until his mounting legal troubles precipitated his spectacular fall.

He was freed in Japan on $4.5 million bail in April after being detained on fresh charges but is living under strict conditions including restrictions on seeing his wife.

Under the conditions of his bail, Ghosn must stay in Japan and must live in a court-appointed residence with cameras to monitor his movements.

Renault under Ghosn for years tied its strategy to the partnership with Nissan but this has been put in doubt by his arrest and subsequent ouster at both companies.

An offer of a merger from Italian automaker Fiat Chrysler did not come to fruition, with Renault saying the government had blocked the deal, something denied by Le Maire.

Investigators are also looking at expenses paid for marketing in Oman suspected of being used for personal expenses by Ghosn without any link to the work of the company.

French anti-fraud police on Thursday searched the residence of former Nissan and Renault chief Carlos Ghosn outside Paris as part of a probe into his sumptuous marriage celebrations at the Palace of Versailles in 2016, prosecutors said.

French anti-fraud police on Thursday searched the residence of former Nissan and Renault chief Carlos Ghosn outside Paris as part of a probe into his sumptuous marriage celebrations at the Palace of Versailles in 2016, prosecutors said. The police went to his home in the town of Etang-la-Ville as part of a preliminary investigation prompted by Renault earlier this year, prosecutors in the district of Nanterre west of Paris said. Renault has previously signalled to French authorities suspect transactions under Ghosn, who at the peak of his powers was known for his jet-setting and luxury lifestyle. He is suspected of hiring the entire Palace of Versailles outside Paris in October 2016 to celebrate his marriage, a benefit estimated as being worth $56,000, in exchange for a philanthropy deal between the state-owned property and Renault. The search marks a new headache for the former Renault CEO, who was also Nissan chairman in the alliance with the Japanese carmaker, after his initial arrest in Tokyo in November. The 65-year-old Ghosn, who maintains his innocence, is awaiting trial in Japan over charges of under-reporting his salary for years while at Nissan and using company funds for personal expenses. Finance Minister Bruno Le Maire told French television earlier this month Renault is to bring a case against Ghosn after identifying 11 million euros of questionable expenses. France holds a 15 per cent stake in Renault. Ghosn, who is a French citizen, was seen as a titan of the industry until his mounting legal troubles precipitated his spectacular fall. He was freed in Japan on $4.5 million bail in April after being detained on fresh charges but is living under strict conditions including restrictions on seeing his wife. Under the conditions of his bail, Ghosn must stay in Japan and must live in a court-appointed residence with cameras to monitor his movements. Renault under Ghosn for years tied its strategy to the partnership with Nissan but this has been put in doubt by his arrest and subsequent ouster at both companies. An offer of a merger from Italian automaker Fiat Chrysler did not come to fruition, with Renault saying the government had blocked the deal, something denied by Le Maire. Investigators are also looking at expenses paid for marketing in Oman suspected of being used for personal expenses by Ghosn without any link to the work of the company.

Police search ex-Nissan chief Ghosn's home over marriage celebrations in Palace of Versailles

French carmaker Renault has warned its <a href="https://www.wionews.com/world/ghosn-resigns-as-renault-boss-as-french-group-enters-new-era-192468">alliance partner Nissan</a> that it will block the Japanese auto firm's plan to overhaul its governance structure, fearing that the changes could reduce its influence, according to the Financial Times.&nbsp;

The reported move by Renault, which is Nissan's largest shareholder, is likely to further strain ties between the two firms after the shock arrest of former boss Carlos Ghosn.&nbsp;

A spokesman for Renault contacted by AFP did not immediately confirm the report.&nbsp;

The FT said that Renault chairman Jean-Dominique Senard had said in a letter to his Nissan counterpart, which has not been made public, that the French firm would abstain from a vote on long-planned changes to the governance structure during the Japanese company's annual meeting.&nbsp;

It would therefore deny the proposal the two thirds majority it needs to pass. &nbsp;

The report added, however, that Renault's position may change, citing sources familiar with Senard's approach.&nbsp;

Renault is pushing for a full merger between the pair but there is deep scepticism of the plan at Nissan.

The company recently made an attempt for a merger with Fiat Chrysler that would -- together with Renault's Japanese partners Nissan and Mitsubishi Motors -- have created a car giant spanning the globe. &nbsp;

But the Italian-US carmaker pulled the plug, saying negotiations had become "unreasonable" due to political resistance in Paris.&nbsp;

Relations between Renault and Nissan have been tested over the arrest in November of their joint boss Ghosn, who awaits trial in Japan on charges of financial misconduct. 
&nbsp;

French carmaker Renault has warned its alliance partner Nissan that it will block the Japanese auto firm's plan to overhaul its governance structure, fearing that the changes could reduce its influence, according to the Financial Times.

French carmaker Renault has warned its alliance partner Nissan that it will block the Japanese auto firm's plan to overhaul its governance structure, fearing that the changes could reduce its influence, according to the Financial Times. The reported move by Renault, which is Nissan's largest shareholder, is likely to further strain ties between the two firms after the shock arrest of former boss Carlos Ghosn. A spokesman for Renault contacted by AFP did not immediately confirm the report. The FT said that Renault chairman Jean-Dominique Senard had said in a letter to his Nissan counterpart, which has not been made public, that the French firm would abstain from a vote on long-planned changes to the governance structure during the Japanese company's annual meeting. It would therefore deny the proposal the two thirds majority it needs to pass. The report added, however, that Renault's position may change, citing sources familiar with Senard's approach. Renault is pushing for a full merger between the pair but there is deep scepticism of the plan at Nissan. The company recently made an attempt for a merger with Fiat Chrysler that would -- together with Renault's Japanese partners Nissan and Mitsubishi Motors -- have created a car giant spanning the globe. But the Italian-US carmaker pulled the plug, saying negotiations had become "unreasonable" due to political resistance in Paris. Relations between Renault and Nissan have been tested over the arrest in November of their joint boss Ghosn, who awaits trial in Japan on charges of financial misconduct.

Renault to block Nissan's plan to overhaul governance structure: Report

A proposed merger between <a href="https://www.wionews.com/business-economy/fiat-chrysler-confirms-merger-talks-with-renault-221892">Renault and Fiat-Chrysler remains a "good opportunity</a>," France's finance minister said Monday after the Italian-American carmaker withdrew the offer over "unreasonable" political resistance from Paris.

"A merger project with FCA remains a good opportunity," Bruno Le Maire told reporters in Tokyo, where he is meeting Japanese officials after this weekend's gathering of G20 finance ministers.

But he said any merger would have to ensure the "durability" of Renault's alliance with Japanese automakers Nissan and Mitsubishi Motors, as well as preserve manufacturing jobs in France.

On May 27, FCA stunned the auto world with a proposed "merger of equals" with Renault that would -- together with Renault's Japanese partners Nissan and Mitsubishi Motors -- create a car giant spanning the globe.

A combined group would be by far the world's biggest, with total sales of some 15 million vehicles, compared to both Volkswagen and Toyota which sell around 10.6 million apiece.

But FCA pulled the plug on the deal suddenly last week, saying negotiations had become "unreasonable" due to political resistance in Paris.

On Saturday, Le Maire told AFP that Paris might consider reducing the state's 15-per cent stake in Renault if it led to a "more solid" alliance between the firm and its Japanese partners.

And he said Renault should focus on shoring up its relationship with Nissan, which has soured since the arrest of the alliance's chief Carlos Ghosn on financial misconduct charges, before pursuing mergers with other firms.

"Otherwise, everything risks collapsing like a house of cards," he warned in the interview on the sidelines of the G20 finance ministers meeting.

In the latest sign of deteriorating ties between the alliance partners, Nissan said Monday that Renault plans to block the Japanese firm's plans to overhaul its governance structure.

Nissan CEO Hiroto Saikawa said Renault had informed the company in a letter that it would abstain from a vote on the overhaul, effectively denying the measure the two-thirds majority needed to pass.

"Nissan finds Renault's stance on this matter most regrettable, as such a stance runs counter to the company's efforts to improve its corporate governance," Saikawa said in a statement.

The measures would introduce three governance committees intended to improve oversight at Nissan, but Renault reportedly fears the changes would reduce its influence.

Le Maire declined to comment directly on the spat but urged reconciliation.

"The management of Renault and the management of Nissan must resolve their difficulties and misunderstandings as soon as possible," he said Monday.

A proposed merger between Renault and Fiat-Chrysler remains a "good opportunity," France's finance minister said Monday after the Italian-American carmaker withdrew the offer over "unreasonable" political resistance from Paris.

A proposed merger between Renault and Fiat-Chrysler remains a "good opportunity," France's finance minister said Monday after the Italian-American carmaker withdrew the offer over "unreasonable" political resistance from Paris. "A merger project with FCA remains a good opportunity," Bruno Le Maire told reporters in Tokyo, where he is meeting Japanese officials after this weekend's gathering of G20 finance ministers. But he said any merger would have to ensure the "durability" of Renault's alliance with Japanese automakers Nissan and Mitsubishi Motors, as well as preserve manufacturing jobs in France. On May 27, FCA stunned the auto world with a proposed "merger of equals" with Renault that would -- together with Renault's Japanese partners Nissan and Mitsubishi Motors -- create a car giant spanning the globe. A combined group would be by far the world's biggest, with total sales of some 15 million vehicles, compared to both Volkswagen and Toyota which sell around 10.6 million apiece. But FCA pulled the plug on the deal suddenly last week, saying negotiations had become "unreasonable" due to political resistance in Paris. On Saturday, Le Maire told AFP that Paris might consider reducing the state's 15-per cent stake in Renault if it led to a "more solid" alliance between the firm and its Japanese partners. And he said Renault should focus on shoring up its relationship with Nissan, which has soured since the arrest of the alliance's chief Carlos Ghosn on financial misconduct charges, before pursuing mergers with other firms. "Otherwise, everything risks collapsing like a house of cards," he warned in the interview on the sidelines of the G20 finance ministers meeting. In the latest sign of deteriorating ties between the alliance partners, Nissan said Monday that Renault plans to block the Japanese firm's plans to overhaul its governance structure. Nissan CEO Hiroto Saikawa said Renault had informed the company in a letter that it would abstain from a vote on the overhaul, effectively denying the measure the two-thirds majority needed to pass. "Nissan finds Renault's stance on this matter most regrettable, as such a stance runs counter to the company's efforts to improve its corporate governance," Saikawa said in a statement. The measures would introduce three governance committees intended to improve oversight at Nissan, but Renault reportedly fears the changes would reduce its influence. Le Maire declined to comment directly on the spat but urged reconciliation. "The management of Renault and the management of Nissan must resolve their difficulties and misunderstandings as soon as possible," he said Monday.

Fiat-Renault merger 'good opportunity': France's finance minister

Fiat Chrysler has made a <a href="https://www.wionews.com/business-economy/fiat-chrysler-in-talks-to-forge-extensive-ties-with-renault-report-says-221647">"transformative merger" proposal</a> to French peer Renault, the Italian carmaker said on Monday, in a deal which would create a world leader and help address some of the weaknesses in both Renault and Fiat.

Fiat said the combined business would be 50% owned by FCA shareholders and 50% owned by those of Renault.

Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and expensive new technologies being developed for connected and autonomous vehicles.

Renault Chairman Jean-Dominique Senard presented an FCA-Renault merger plan to French Finance Minister Bruno Le Maire on Friday, Les Echos reported on its website. The French government has a 15% stake in Renault.

The deal being discussed would include guarantees covering corporate governance and employment in France and Italy, the French daily said.

Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and expensive new technologies being developed for connected and autonomous vehicles.

Earlier this year FCA Chairman John Elkann - a member of Italy's Agnelli dynasty that controls the company - stressed the family's commitment to the automotive industry. But he also added that they were prepared to take "bold and creative decisions" to help build a solid and attractive future for the company.

Regional rationale

FCA has a highly profitable North American RAM trucks business and Jeep brand but has been losing money in Europe, where it may also struggle to keep pace with looming carbon dioxide emissions curbs.

Renault, by contrast, is an electric-car pioneer with relatively fuel-efficient engine technologies and a strong presence in emerging markets, but no U.S. business.

The tie-up would likely face political and workforce hurdles, particularly in Italy. However, most of FCA's European plants are running below 50% capacity.

A deal between FCA and Renault would not preclude a consolidation of Renault's alliance with Japanese carmaker Nissan Motor Co Ltd , a source told Reuters on Saturday.

The Renault-Nissan partnership, underpinned by cross-shareholdings, has been strained by the scandal surrounding former Chairman Carlos Ghosn, who was ousted after his arrest last year.

Speculation about the future of Fiat Chrysler, often seen as a potential M&amp;A target, intensified after the sudden death of long-serving former CEO Sergio Marchionne almost one year ago.

Fiat Chrysler has made a "transformative merger" proposal to French peer Renault, the Italian carmaker said on Monday, in a deal which would create a world leader and help address some of the weaknesses in both Renault and Fiat.

Fiat Chrysler has made a "transformative merger" proposal to French peer Renault, the Italian carmaker said on Monday, in a deal which would create a world leader and help address some of the weaknesses in both Renault and Fiat. Fiat said the combined business would be 50% owned by FCA shareholders and 50% owned by those of Renault. Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and expensive new technologies being developed for connected and autonomous vehicles. Renault Chairman Jean-Dominique Senard presented an FCA-Renault merger plan to French Finance Minister Bruno Le Maire on Friday, Les Echos reported on its website. The French government has a 15% stake in Renault. The deal being discussed would include guarantees covering corporate governance and employment in France and Italy, the French daily said. Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and expensive new technologies being developed for connected and autonomous vehicles. Earlier this year FCA Chairman John Elkann - a member of Italy's Agnelli dynasty that controls the company - stressed the family's commitment to the automotive industry. But he also added that they were prepared to take "bold and creative decisions" to help build a solid and attractive future for the company. Regional rationale FCA has a highly profitable North American RAM trucks business and Jeep brand but has been losing money in Europe, where it may also struggle to keep pace with looming carbon dioxide emissions curbs. Renault, by contrast, is an electric-car pioneer with relatively fuel-efficient engine technologies and a strong presence in emerging markets, but no U.S. business. The tie-up would likely face political and workforce hurdles, particularly in Italy. However, most of FCA's European plants are running below 50% capacity. A deal between FCA and Renault would not preclude a consolidation of Renault's alliance with Japanese carmaker Nissan Motor Co Ltd , a source told Reuters on Saturday. The Renault-Nissan partnership, underpinned by cross-shareholdings, has been strained by the scandal surrounding former Chairman Carlos Ghosn, who was ousted after his arrest last year. Speculation about the future of Fiat Chrysler, often seen as a potential M&A target, intensified after the sudden death of long-serving former CEO Sergio Marchionne almost one year ago.

Fiat Chrysler confirms merger talks with Renault

European shares rose on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after European parliamentary elections saw pro-Europe parties cling to a majority.

The gains followed a stronger showing in Asian markets, where shares rose but remained near 4-month lows. The MSCI world equity index, which tracks shares in 47 countries, was ahead by 0.1%.

The pan-European STOXX 600 added 0.4% with all major European indices in the black, although trading volumes were thin with markets in the United States and the United Kingdom closed for market holidays.

Auto stocks climbed 1.8% as Italian-American carmaker Fiat Chrysler confirmed it had made a "transformative merger" proposal to French peer Renault in a deal which would create the world's third-biggest carmaker. Shares of both companies rallied.

Markets were also buoyed as pro-European parties retained a firm grip on the EU parliament, provisional results from the bloc's elections showed, though eurosceptic opponents saw strong gains.

Investors had been worried about eurosceptic parties gaining a 30% vote share - the level at which they could seriously disrupt European governance and the region's ability to show unity in addressing key concerns like a global trade war.

But while far-right, nationalist or anti-EU groups came out on top in Italy, Britain, France and Poland, they failed to alter dramatically the balance of pro-European power in the EU assembly.

"The impression of a fragmented political system remains, but perhaps when all is said and done, the message will be that Brexit has reduced appetite to leave the EU," said Kit Juckes, FX strategist at Societe Generale.

The euro initially rallied above $1.12 but by 0920 GMT the single currency was struggling, down 0.1% at $1.1195.

The dollar index gained 0.1% in quiet trading.

"In the simple world of FX a possible crisis is averted, leaving us with familiar issues. Europe needs more growth and while EU leaders argue over who gets which top jobs, it needs easier fiscal policy perhaps most of all," Juckes said.

European government bond markets were little moved with the spread between the German 10-year bond yield, considered one of the world's safest assets, and the Italian 10-year government bond yield little moved after initially narrowing.

Spanish and Portuguese bond yields hit record lows - a sign of investor confidence after the election results.

Elsewhere, US President Donald Trump's visit to Japan was overshadowed by trade tensions. Trump pressed Japanese Prime Minister Shinzo Abe to even out a trade imbalance with the United States.

Escalating trade tensions between the United States and China have rattled investors in recent weeks, pressuring stocks lower just as concerns build about weakening momentum in the world's largest economies.

The yen, often the currency of choice for nervous investors, fell 0.2% against the dollar to 109.495 but remained close to four-month highs hit earlier in May as traders looked for safety in the face of mounting trade-related woes.

China's yuan rose to a 1-1/2 week high against the US dollar on Monday, buoyed by a senior official's warning not to bet against the Chinese currency.

The pound held around $1.2703. Sterling had bounced back from a near five-month trough of $1.2605 after British Prime Minister Theresa May last week named a date for her to step down - triggering a leadership contest during which investors fear the risk of a no-deal Brexit will rise.

Oil prices mostly fell, extending losses from last week when crude dropped the most this year. Concerns the Sino-US trade war could trigger a broad economic slowdown have sent this year's oil rally into reverse, although OPEC's supply cuts provided some support.

Front-month Brent crude futures, the international benchmark for oil prices, rose 0.1% to $68.80 per barrel while US West Texas Intermediate (WTI) crude futures shed 0.5% to $58.33 per barrel.

European shares rose on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after European parliamentary elections saw pro-Europe parties cling to a majority.

European shares rose on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after European parliamentary elections saw pro-Europe parties cling to a majority. The gains followed a stronger showing in Asian markets, where shares rose but remained near 4-month lows. The MSCI world equity index, which tracks shares in 47 countries, was ahead by 0.1%. The pan-European STOXX 600 added 0.4% with all major European indices in the black, although trading volumes were thin with markets in the United States and the United Kingdom closed for market holidays. Auto stocks climbed 1.8% as Italian-American carmaker Fiat Chrysler confirmed it had made a "transformative merger" proposal to French peer Renault in a deal which would create the world's third-biggest carmaker. Shares of both companies rallied. Markets were also buoyed as pro-European parties retained a firm grip on the EU parliament, provisional results from the bloc's elections showed, though eurosceptic opponents saw strong gains. Investors had been worried about eurosceptic parties gaining a 30% vote share - the level at which they could seriously disrupt European governance and the region's ability to show unity in addressing key concerns like a global trade war. But while far-right, nationalist or anti-EU groups came out on top in Italy, Britain, France and Poland, they failed to alter dramatically the balance of pro-European power in the EU assembly. "The impression of a fragmented political system remains, but perhaps when all is said and done, the message will be that Brexit has reduced appetite to leave the EU," said Kit Juckes, FX strategist at Societe Generale. The euro initially rallied above $1.12 but by 0920 GMT the single currency was struggling, down 0.1% at $1.1195. The dollar index gained 0.1% in quiet trading. "In the simple world of FX a possible crisis is averted, leaving us with familiar issues. Europe needs more growth and while EU leaders argue over who gets which top jobs, it needs easier fiscal policy perhaps most of all," Juckes said. European government bond markets were little moved with the spread between the German 10-year bond yield, considered one of the world's safest assets, and the Italian 10-year government bond yield little moved after initially narrowing. Spanish and Portuguese bond yields hit record lows - a sign of investor confidence after the election results. Elsewhere, US President Donald Trump's visit to Japan was overshadowed by trade tensions. Trump pressed Japanese Prime Minister Shinzo Abe to even out a trade imbalance with the United States. Escalating trade tensions between the United States and China have rattled investors in recent weeks, pressuring stocks lower just as concerns build about weakening momentum in the world's largest economies. The yen, often the currency of choice for nervous investors, fell 0.2% against the dollar to 109.495 but remained close to four-month highs hit earlier in May as traders looked for safety in the face of mounting trade-related woes. China's yuan rose to a 1-1/2 week high against the US dollar on Monday, buoyed by a senior official's warning not to bet against the Chinese currency. The pound held around $1.2703. Sterling had bounced back from a near five-month trough of $1.2605 after British Prime Minister Theresa May last week named a date for her to step down - triggering a leadership contest during which investors fear the risk of a no-deal Brexit will rise. Oil prices mostly fell, extending losses from last week when crude dropped the most this year. Concerns the Sino-US trade war could trigger a broad economic slowdown have sent this year's oil rally into reverse, although OPEC's supply cuts provided some support. Front-month Brent crude futures, the international benchmark for oil prices, rose 0.1% to $68.80 per barrel while US West Texas Intermediate (WTI) crude futures shed 0.5% to $58.33 per barrel.

European stocks gain on EU election relief and auto shares surge

Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters on Saturday.

The talks are at an advanced stage, the sources said. The Financial Times earlier reported that FCA and Renault were discussing a deal to forge "extensive ties" to tackle structural challenges facing the global auto industry.

A spokesman for FCA declined to comment on the report. Renault spokesman Frederic Texier said the French carmaker had no comment. 
Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and investment-thirsty technologies for connected and autonomous vehicles.

FCA and Renault have a combined market capitalization approaching 33 billion euros ($37 billion) and total global sales of 8.7 million vehicles. Besides bringing greater scale, a tie-up could help patch flaws on both sides.

FCA has a highly profitable North American RAM trucks business and Jeep brand but has been losing money in Europe, where it may also struggle to keep pace with looming carbon dioxide emissions curbs.

Renault, by contrast, is an electric-car pioneer with relatively fuel-efficient engine technologies and a strong presence in emerging markets, but no U.S. business.

Any tie-up would likely face political and workforce hurdles, particularly in Italy. Most of FCA's European plants are running below 50 percent capacity.

It was unclear whether the FCA-Renault deal talks would conclude successfully, the sources said.

The plan under consideration could involve some transfer of equity, one source said. "This isn't just another partnership - it's more than that."

Both carmakers have also been exploring tie-ups with other partners.

While FCA has recently revived discussions with PSA Group - which have been recurrent over the years - Renault is seeking a merger with Nissan, its partner in a troubled 20-year-old alliance.

A tie-up between FCA and Renault would not preclude a consolidation of the alliance with Nissan, one of the sources said.

The Renault-Nissan partnership, underpinned by crossed shareholdings, has been strained by the scandal surrounding former chairman Carlos Ghosn, who was ousted in the wake of a Nissan internal investigation.

A tie-up that included Nissan would vault the ensemble to the rank of global No.1 carmaker with 13.8 million annual sales. It would also maintain a foothold in China, where both FCA and Renault are marginal players.

The discussions follow weakening U.S. auto demand that has prompted cutbacks at several carmakers. FCA reported a 29 percent decline in first-quarter operating profit as sales and margins weakened in its North American profit centre. Sales dropped 5 percent to 24.48 billion euros.

Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters on Saturday.

Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters on Saturday. The talks are at an advanced stage, the sources said. The Financial Times earlier reported that FCA and Renault were discussing a deal to forge "extensive ties" to tackle structural challenges facing the global auto industry. A spokesman for FCA declined to comment on the report. Renault spokesman Frederic Texier said the French carmaker had no comment. Pressure for consolidation among carmakers has grown with the challenges posed by electrification, tightening emissions regulations and investment-thirsty technologies for connected and autonomous vehicles. FCA and Renault have a combined market capitalization approaching 33 billion euros ($37 billion) and total global sales of 8.7 million vehicles. Besides bringing greater scale, a tie-up could help patch flaws on both sides. FCA has a highly profitable North American RAM trucks business and Jeep brand but has been losing money in Europe, where it may also struggle to keep pace with looming carbon dioxide emissions curbs. Renault, by contrast, is an electric-car pioneer with relatively fuel-efficient engine technologies and a strong presence in emerging markets, but no U.S. business. Any tie-up would likely face political and workforce hurdles, particularly in Italy. Most of FCA's European plants are running below 50 percent capacity. It was unclear whether the FCA-Renault deal talks would conclude successfully, the sources said. The plan under consideration could involve some transfer of equity, one source said. "This isn't just another partnership - it's more than that." Both carmakers have also been exploring tie-ups with other partners. While FCA has recently revived discussions with PSA Group - which have been recurrent over the years - Renault is seeking a merger with Nissan, its partner in a troubled 20-year-old alliance. A tie-up between FCA and Renault would not preclude a consolidation of the alliance with Nissan, one of the sources said. The Renault-Nissan partnership, underpinned by crossed shareholdings, has been strained by the scandal surrounding former chairman Carlos Ghosn, who was ousted in the wake of a Nissan internal investigation. A tie-up that included Nissan would vault the ensemble to the rank of global No.1 carmaker with 13.8 million annual sales. It would also maintain a foothold in China, where both FCA and Renault are marginal players. The discussions follow weakening U.S. auto demand that has prompted cutbacks at several carmakers. FCA reported a 29 percent decline in first-quarter operating profit as sales and margins weakened in its North American profit centre. Sales dropped 5 percent to 24.48 billion euros.

Fiat Chrysler in talks to forge extensive ties with Renault, report says

Tokyo prosecutors will indict former Nissan chief <a href="https://www.google.com/url?q=https://www.wionews.com/world/conspiracy-and-backstabbing-against-me-carlos-ghosn-208976&amp;sa=U&amp;ved=0ahUKEwjs2rCh-dvhAhVa63MBHSoqAtUQFggOMAM&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw14HVx_mX4e7-sFMYiD8iSL">Carlos Ghosn</a> on a new charge on Monday when his detention period over suspected financial misconduct expires, local media reported Friday.

The 65-year-old is being questioned in a Tokyo detention centre over allegations he syphoned off millions of dollars from his former company <a href="https://www.google.com/url?q=https://www.wionews.com/world/nissan-shareholders-meet-to-sack-ghosn-from-its-board-208663&amp;sa=U&amp;ved=0ahUKEwjs2rCh-dvhAhVa63MBHSoqAtUQFggRMAQ&amp;client=internal-uds-cse&amp;cx=006054055338965708568:09spwrlibei&amp;usg=AOvVaw0dbngQ8raCwJtW3qlYYYaD">Nissan </a>to a dealership in the Middle East for his own ends.

Ghosn strenuously denies the allegations and insists they have been cooked up in a "plot" by Nissan executives wary of plans to bring the Japanese car giant closer to its French partner Renault.

On Friday, public broadcaster NHK cited unnamed sources as saying that Tokyo prosecutors will indict the former auto tycoon as early as Monday on suspicion that he had used the money from Nissan for his personal investments into 30 companies.

Kyodo News said the prosecutors decided to indict Ghosn on April 22.

NHK reported that about $26.8 million&nbsp;transferred to an American firm named Shogun Investments, run by Ghosn's son, had been spent on investments in at least 30 companies.

Tokyo prosecutors are also considering questioning Ghosn's son, according to NHK.

Ghosn had already spent 108 days in custody over three other charges of alleged financial malpractice -- accused of two counts of deferring part of his salary and concealing this from shareholders and another charge of seeking to shift personal losses to the company.&nbsp;

He has already won bail once over the first three charges.

Tokyo prosecutors will indict former Nissan chief Carlos Ghosn on a new charge on Monday when his detention period over suspected financial misconduct expires, local media reported Friday.

Tokyo prosecutors will indict former Nissan chief Carlos Ghosn on a new charge on Monday when his detention period over suspected financial misconduct expires, local media reported Friday. The 65-year-old is being questioned in a Tokyo detention centre over allegations he syphoned off millions of dollars from his former company Nissan to a dealership in the Middle East for his own ends. Ghosn strenuously denies the allegations and insists they have been cooked up in a "plot" by Nissan executives wary of plans to bring the Japanese car giant closer to its French partner Renault. On Friday, public broadcaster NHK cited unnamed sources as saying that Tokyo prosecutors will indict the former auto tycoon as early as Monday on suspicion that he had used the money from Nissan for his personal investments into 30 companies. Kyodo News said the prosecutors decided to indict Ghosn on April 22. NHK reported that about $26.8 million transferred to an American firm named Shogun Investments, run by Ghosn's son, had been spent on investments in at least 30 companies. Tokyo prosecutors are also considering questioning Ghosn's son, according to NHK. Ghosn had already spent 108 days in custody over three other charges of alleged financial malpractice -- accused of two counts of deferring part of his salary and concealing this from shareholders and another charge of seeking to shift personal losses to the company. He has already won bail once over the first three charges.

Carlos Ghosn to be indicted on fresh charge: Report

Nissan shareholders are expected to eject <a href="https://www.wionews.com/world/ghosn-to-name-names-as-wife-flees-tokyo-208592">Carlos Ghosn</a> from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody.

The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old auto sector titan on November 19.

Shareholders will vote on the removal of Ghosn, once hailed as the Japanese car giant's saviour and his replacement by Renault chairman Jean-Dominique Senard.

They will also likely jettison as a board member Greg Kelly, a US executive who served as Ghosn's right-hand man and who also faces charges in Japan.

Nissan sacked Ghosn as chairman almost immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board.

Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds.

Last week saw prosecutors rearrest Ghosn over an additional allegation that he had transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht.

Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends.

On Friday, the Tokyo District Court ruled that prosecutors could have until at least April 14 to interrogate Ghosn, who denies any wrongdoing.

This period can be extended for a further 10 days if the court allows, meaning Ghosn is unlikely to be released any time soon.

'It's a plot'

His rearrest on Thursday, the latest twist in a case that has captivated Japan and the business world, came less than a month after he had dramatically won bail, paying around $9 million to secure his release.

He had kept tight-lipped during his bail period and was subject to restrictions on his contacts with others connected with the case, and his online communications. He was also banned from leaving the country.

Just before his rearrest, Ghosn had appeared on Twitter to announce a news conference for April 11 -- which will now not happen barring a further surprise.

However, he gave a combative interview to France's TF1 television channel where he again denounced his downfall as a Nissan "plot" and voiced fears he might not receive a fair trial.

"It's obvious it's a plot," said Ghosn, adding: "Everything needs to be put on the table. Of course, I have names."

"Some of them you have seen in the press, but there are others that haven't been in the press," he said.

He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault.

The other reason for the "plot" was the "deterioration in Nissan's performance for two years," he charged.

"I am very worried about the performance and future of Nissan," said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

Nissan shareholders are expected to eject Carlos Ghosn from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody.

Nissan shareholders are expected to eject Carlos Ghosn from its board on Monday, as the detained former chairman fights multiple charges of financial misconduct that have landed him in custody. The extraordinary shareholders' meeting at a Tokyo hotel is the first such gathering since the stunning arrest of the 65-year-old auto sector titan on November 19. Shareholders will vote on the removal of Ghosn, once hailed as the Japanese car giant's saviour and his replacement by Renault chairman Jean-Dominique Senard. They will also likely jettison as a board member Greg Kelly, a US executive who served as Ghosn's right-hand man and who also faces charges in Japan. Nissan sacked Ghosn as chairman almost immediately after his initial arrest but an extraordinary meeting of shareholders is required to remove him from the board. Ghosn faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders. The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from company funds. Last week saw prosecutors rearrest Ghosn over an additional allegation that he had transferred Nissan money to a dealership in Oman but siphoned off millions for his own personal expenses -- including the purchase of a luxury yacht. Prosecutors believe Ghosn moved Nissan funds totalling $15 million between late 2015 and the middle of 2018 and used $5 million of that for his own ends. On Friday, the Tokyo District Court ruled that prosecutors could have until at least April 14 to interrogate Ghosn, who denies any wrongdoing. This period can be extended for a further 10 days if the court allows, meaning Ghosn is unlikely to be released any time soon. 'It's a plot' His rearrest on Thursday, the latest twist in a case that has captivated Japan and the business world, came less than a month after he had dramatically won bail, paying around $9 million to secure his release. He had kept tight-lipped during his bail period and was subject to restrictions on his contacts with others connected with the case, and his online communications. He was also banned from leaving the country. Just before his rearrest, Ghosn had appeared on Twitter to announce a news conference for April 11 -- which will now not happen barring a further surprise. However, he gave a combative interview to France's TF1 television channel where he again denounced his downfall as a Nissan "plot" and voiced fears he might not receive a fair trial. "It's obvious it's a plot," said Ghosn, adding: "Everything needs to be put on the table. Of course, I have names." "Some of them you have seen in the press, but there are others that haven't been in the press," he said. He said his downfall was orchestrated by people scared of closer integration between Nissan and its French partner Renault. The other reason for the "plot" was the "deterioration in Nissan's performance for two years," he charged. "I am very worried about the performance and future of Nissan," said Ghosn, widely credited with saving the Japanese firm from the brink of bankruptcy.

Nissan shareholders meet to sack Ghosn from its board

Arrested former Nissan boss Carlos Ghosn is set to name the people he believes are responsible for his downfall in Japan, his wife said in an interview on Sunday as she fled Tokyo out of fear she could be detained.

Ghosn was re-arrested last week in the Japanese capital over fresh allegations of financial misconduct which will see him held in custody until at least April 14.&nbsp;

Speaking to the Journal du Dimanche newspaper in France, his wife Carole detailed the latest twists in the extraordinary saga, saying that Ghosn had recorded a video interview in English before his detention.&nbsp;

"He names the people responsible for what has happened to him. The lawyers have it. It will be released soon," she told the newspaper.

Carole added that she had fled Tokyo on a flight to Paris — with support from the French ambassador to Tokyo— because she "felt in danger."

Despite her Lebanese passport being confiscated by Japanese authorities, Carole said she was able to use her American passport to board a flight and was accompanied by the ambassador to the airport.

"He didn't leave me until the plane," she explained. "Up to the last second, I didn't know if they were going to let me fly. It was surreal."&nbsp;

The role of the French ambassador could lead to fresh friction between the countries over the highly sensitive case, which involves Nissan and French car maker Renault, which were both previously run by Ghosn.

Japanese news channel NHK said prosecutors in Tokyo wanted to question Carole on a voluntary basis.

Other reports in Japan say that investigators are looking into allegations that company money allegedly misused by Ghosn could have transited through a business that was run by his wife.

'Different person' 
Carole intends now to try to pressure the French government to do more for her husband whose 108-day imprisonment in Japan between November 19 and March 6 had left him a "different person," she told The Financial Times in a separate interview.

France's foreign minister Jean-Yves Le Drian said Saturday he had raised the case during talks with his Japanese counterpart Taro Kono on the sidelines of the meeting of Group of Seven (G7) foreign ministers in the French resort of Dinard.

Le Drian said he had "reminded him of our attachment to the presumption of innocence and the full rights of consular protection."

Japanese authorities are looking into new allegations that Ghosn transferred some $15 million in Nissan funds between late 2015 and mid-2018 to a dealership in Oman.

They suspect around $5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments.

Prosecutors say Ghosn "betrayed" his duty not to cause losses to Nissan "in order to benefit himself."

Ghosn denies the allegations and says he is also innocent of the three formal charges he faces: two charges of deferring his salary and concealing that in official shareholders' documents, and a further charge related to investment losses.

The man previously seen as the most powerful figure in the global car industry told French channel TF1 last week that he was "a combative man and an innocent man" and vowed to "defend myself to the bitter end".

And he voiced concern that he would not be given a fair hearing in Japan where around 99 percent of trials result in a conviction.

Arrested former Nissan boss Carlos Ghosn is set to name the people he believes are responsible for his downfall in Japan, his wife said in an interview on Sunday as she fled Tokyo out of fear she could be detained.

Arrested former Nissan boss Carlos Ghosn is set to name the people he believes are responsible for his downfall in Japan, his wife said in an interview on Sunday as she fled Tokyo out of fear she could be detained. Ghosn was re-arrested last week in the Japanese capital over fresh allegations of financial misconduct which will see him held in custody until at least April 14. Speaking to the Journal du Dimanche newspaper in France, his wife Carole detailed the latest twists in the extraordinary saga, saying that Ghosn had recorded a video interview in English before his detention. "He names the people responsible for what has happened to him. The lawyers have it. It will be released soon," she told the newspaper. Carole added that she had fled Tokyo on a flight to Paris — with support from the French ambassador to Tokyo— because she "felt in danger." Despite her Lebanese passport being confiscated by Japanese authorities, Carole said she was able to use her American passport to board a flight and was accompanied by the ambassador to the airport. "He didn't leave me until the plane," she explained. "Up to the last second, I didn't know if they were going to let me fly. It was surreal." The role of the French ambassador could lead to fresh friction between the countries over the highly sensitive case, which involves Nissan and French car maker Renault, which were both previously run by Ghosn. Japanese news channel NHK said prosecutors in Tokyo wanted to question Carole on a voluntary basis. Other reports in Japan say that investigators are looking into allegations that company money allegedly misused by Ghosn could have transited through a business that was run by his wife. 'Different person' Carole intends now to try to pressure the French government to do more for her husband whose 108-day imprisonment in Japan between November 19 and March 6 had left him a "different person," she told The Financial Times in a separate interview. France's foreign minister Jean-Yves Le Drian said Saturday he had raised the case during talks with his Japanese counterpart Taro Kono on the sidelines of the meeting of Group of Seven (G7) foreign ministers in the French resort of Dinard. Le Drian said he had "reminded him of our attachment to the presumption of innocence and the full rights of consular protection." Japanese authorities are looking into new allegations that Ghosn transferred some $15 million in Nissan funds between late 2015 and mid-2018 to a dealership in Oman. They suspect around $5 million of these funds were siphoned off for Ghosn's use, including for the purchase of a luxury yacht and financing personal investments. Prosecutors say Ghosn "betrayed" his duty not to cause losses to Nissan "in order to benefit himself." Ghosn denies the allegations and says he is also innocent of the three formal charges he faces: two charges of deferring his salary and concealing that in official shareholders' documents, and a further charge related to investment losses. The man previously seen as the most powerful figure in the global car industry told French channel TF1 last week that he was "a combative man and an innocent man" and vowed to "defend myself to the bitter end". And he voiced concern that he would not be given a fair hearing in Japan where around 99 percent of trials result in a conviction.

Carlos Ghosn to name names as wife flees Tokyo

Japanese prosecutors Thursday re-arrested Carlos Ghosn on fresh allegations of financial misconduct, as the former auto tycoon slammed an "outrageous and arbitrary" detention and vowed he would "not be broken."

In the early hours, officials raided the central Tokyo apartment the 65-year-old Ghosn has called home since winning bail last month after more than 100 days of detention on different charges.

It was the latest twist in a rollercoaster drama that has gripped Japan and the rest of the world since his shock arrest at a Tokyo airport on November 19.

Prosecutors said Ghosn had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018. They suspect Ghosn used $5 million of that for personal expenditure.

"The suspect... was responsible for overseeing the whole of Nissan's operations and performing his duty loyally so as not to cause losses to Nissan, but he betrayed that duty in order to benefit himself," they said in a statement.

Ghosn released a statement through his representatives attacking what he called the "outrageous and arbitrary" detention.

"Why arrest me except to try to break me? I will not be broken," said the former high-flying executive.

He has denied any wrongdoing and took to Twitter for the first time Wednesday to announce plans to "tell the truth" at an April 11 news conference that now looks unlikely.

Prosecutors can hold Ghosn for up to 22 days while they investigate the new claims and may rearrest him again or seek to hold him in pre-trial detention.

Deputy chief prosecutor Shin Kukimoto justified the arrest by saying they judged there was a "risk of destruction of evidence".

But Ghosn's lawyer Junichiro Hironaka, known as the "Razor" for his mental sharpness, told reporters the fresh arrest was "against the spirit of the law" and "should not be tolerated in a civilised nation."

He added his client had expected prosecutors would re-arrest him and had therefore prepared a video, without specifying the contents or exactly when it would be released.

Visibly angry, he vowed to fight likely attempts by the prosecutor to extend the detention, claiming the arrest was "not necessary" and designed merely to pile pressure on Ghosn.

He added prosecutors had confiscated not only diaries and documents belonging to Ghosn, but also the passport and phone of the tycoon's wife Carole.

Carole Ghosn was questioned "without her attorney present, even though she is not targeted in this investigation," the family's French lawyer, Jessica Finelle, told French network BFMTV.

'Combative and innocent'

Ghosn already faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders.

The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from the company funds.

In an interview with French television, Ghosn reiterated he was "combative and innocent" but acknowledged "it's hard."

"A lot of lies have been told and these lies have come one after another," he said.

Ghosn, who holds French, Brazilian and Lebanese nationalities, appealed to the French government to "defend" him and his "rights as a citizen."

French Economy Minister Bruno Le Maire stressed Ghosn "should benefit from the presumption of innocence and consular protection," in an interview with BFMTV.

Thursday's arrest came after French car firm Renault, which Ghosn also once headed, handed French prosecutors documents showing the auto tycoon had authorised suspicious transfers worth millions of euros.

A Nissan spokesman said the firm's own internal probe had uncovered "substantial evidence of blatantly unethical conduct" and that their focus was on "addressing weaknesses in governance that enabled this misconduct."

'Tell the truth'

Ghosn had maintained his silence since paying around $9 million to win bail on March 6 when he walked out of his detention centre dressed in a workman's uniform in a bizarre attempt to evade the world's media.

Reports emerged early Wednesday that prosecutors were considering further charges against him whereupon Ghosn suddenly popped up on Twitter to announce he would "tell the truth" about his case.

His tweet, which his representatives confirmed was authentic, sparked questions about his bail conditions, which were thought to include a ban on internet use.

However, Hironaka insisted his client was acting within his rights, telling reporters: "My understanding is that he's not banned from using the internet" and prosecutor Kukimoto said the arrest had nothing to do with the tweet.

Ghosn was largely credited with saving Nissan from the brink of bankruptcy by tying its fortunes to Mitsubishi Motors and Renault.

He has frequently denounced his downfall as a "plot" by Nissan insiders worried he planned to push them into a full partnership with the French firm. 
&nbsp;

Japanese prosecutors Thursday re-arrested Carlos Ghosn on fresh allegations of financial misconduct, as the former auto tycoon slammed an "outrageous and arbitrary" detention and vowed he would "not be broken.

Japanese prosecutors Thursday re-arrested Carlos Ghosn on fresh allegations of financial misconduct, as the former auto tycoon slammed an "outrageous and arbitrary" detention and vowed he would "not be broken." In the early hours, officials raided the central Tokyo apartment the 65-year-old Ghosn has called home since winning bail last month after more than 100 days of detention on different charges. It was the latest twist in a rollercoaster drama that has gripped Japan and the rest of the world since his shock arrest at a Tokyo airport on November 19. Prosecutors said Ghosn had been detained over transfers of Nissan funds totalling $15 million between late 2015 and the middle of 2018. They suspect Ghosn used $5 million of that for personal expenditure. "The suspect... was responsible for overseeing the whole of Nissan's operations and performing his duty loyally so as not to cause losses to Nissan, but he betrayed that duty in order to benefit himself," they said in a statement. Ghosn released a statement through his representatives attacking what he called the "outrageous and arbitrary" detention. "Why arrest me except to try to break me? I will not be broken," said the former high-flying executive. He has denied any wrongdoing and took to Twitter for the first time Wednesday to announce plans to "tell the truth" at an April 11 news conference that now looks unlikely. Prosecutors can hold Ghosn for up to 22 days while they investigate the new claims and may rearrest him again or seek to hold him in pre-trial detention. Deputy chief prosecutor Shin Kukimoto justified the arrest by saying they judged there was a "risk of destruction of evidence". But Ghosn's lawyer Junichiro Hironaka, known as the "Razor" for his mental sharpness, told reporters the fresh arrest was "against the spirit of the law" and "should not be tolerated in a civilised nation." He added his client had expected prosecutors would re-arrest him and had therefore prepared a video, without specifying the contents or exactly when it would be released. Visibly angry, he vowed to fight likely attempts by the prosecutor to extend the detention, claiming the arrest was "not necessary" and designed merely to pile pressure on Ghosn. He added prosecutors had confiscated not only diaries and documents belonging to Ghosn, but also the passport and phone of the tycoon's wife Carole. Carole Ghosn was questioned "without her attorney present, even though she is not targeted in this investigation," the family's French lawyer, Jessica Finelle, told French network BFMTV. 'Combative and innocent' Ghosn already faces three separate charges. The first two relate to the alleged deferring of around $80 million in income and concealing this in official documents to shareholders. The third, more complex, charge is that he attempted to transfer personal losses to Nissan and paid a Saudi contact who provided collateral from the company funds. In an interview with French television, Ghosn reiterated he was "combative and innocent" but acknowledged "it's hard." "A lot of lies have been told and these lies have come one after another," he said. Ghosn, who holds French, Brazilian and Lebanese nationalities, appealed to the French government to "defend" him and his "rights as a citizen." French Economy Minister Bruno Le Maire stressed Ghosn "should benefit from the presumption of innocence and consular protection," in an interview with BFMTV. Thursday's arrest came after French car firm Renault, which Ghosn also once headed, handed French prosecutors documents showing the auto tycoon had authorised suspicious transfers worth millions of euros. A Nissan spokesman said the firm's own internal probe had uncovered "substantial evidence of blatantly unethical conduct" and that their focus was on "addressing weaknesses in governance that enabled this misconduct." 'Tell the truth' Ghosn had maintained his silence since paying around $9 million to win bail on March 6 when he walked out of his detention centre dressed in a workman's uniform in a bizarre attempt to evade the world's media. Reports emerged early Wednesday that prosecutors were considering further charges against him whereupon Ghosn suddenly popped up on Twitter to announce he would "tell the truth" about his case. His tweet, which his representatives confirmed was authentic, sparked questions about his bail conditions, which were thought to include a ban on internet use. However, Hironaka insisted his client was acting within his rights, telling reporters: "My understanding is that he's not banned from using the internet" and prosecutor Kukimoto said the arrest had nothing to do with the tweet. Ghosn was largely credited with saving Nissan from the brink of bankruptcy by tying its fortunes to Mitsubishi Motors and Renault. He has frequently denounced his downfall as a "plot" by Nissan insiders worried he planned to push them into a full partnership with the French firm.

Ghosn vows he won't be 'broken' after re-arrest in Tokyo

Carmakers Renault, Nissan and Mitsubishi Motors unveiled the creation of a joint board Tuesday, seeking a "new start" for their alliance after the <a href="http://www.wionews.com/world/japan-court-bars-ex-boss-carlos-ghosn-from-nissan-board-meeting-report-202584">arrest of former boss Carlos Ghosn</a>.

The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands -- one joining Renault and Nissan, the other combining Nissan and Mitsubishi Motors.

"We have decided to join our forces again, to enhance the strength of our collaboration," Senard told reporters.

This is a "new start" for the alliance, insisted the Frenchman.

Senard also announced he would "not be seeking" to replace Ghosn as head of Nissan but would be a "clear candidate" to be vice-president of the Japanese auto giant.

For his part, current Nissan boss Hiroto Saikawa said the new board represented "a true partnership on equal footing".

Both executives sidestepped questions about Ghosn, recently released on bail in Japan ahead of a trial over alleged financial misconduct.

Asked about Ghosn, Senard said: "I have two or three major principles in my life. One of them is the respect of people. The second is respect of facts. And the third... is to respect people and consider them innocent as long as it has not been proven differently."

'Opposition and anxiety'

Ghosn is widely credited with creating the three-way alliance, which now outsells all other rival groups.

As boss of Renault, he took what many observers at the time thought was a gamble by saving Nissan from the brink of bankruptcy and tying it to the French firm.

In a complicated management structure, Renault -- itself 15-per cent held by the French state -- owns a 43-per cent stake in Nissan.

However, the Japanese firm has outperformed Renault recently and many Nissan executives were unhappy with the French company's dominance within the alliance.

In an interview with AFP in January from inside his Tokyo detention centre, Ghosn himself said his arrest it was a "story of betrayal" based on resentment in the Japanese automaker.

His downfall was plotted due to "opposition and anxiety" over the plan to bring Nissan and Renault closer together, Ghosn alleged.

The 65-year-old tycoon wanted to attend Tuesday's board meeting in Tokyo but was barred by the court.

Although he was almost immediately fired as the head of the company when the allegations surfaced, he is still a board member until April 8, when an extraordinary meeting of shareholders is likely to remove him.

But his bail conditions prevent him from contact with anyone else involved in his case -- including Saikawa, who also attended Tuesday's meeting.

Ghosn, who strenuously denies all charges against him, was said to be "disappointed" not to be able to attend the meeting.

He believes that the accusations against him, which he has frequently described as "meritless and unsubstantiated", should not prevent him from giving his input into a company he saved from the brink.

'He thought it was free'

Ghosn faces three charges of financial misconduct.

The first two charges relate to the alleged under-reporting of his salary in documents to shareholders to the tune of nine billion yen ($81 million) over a period of eight years.

The other charge relates to an alleged attempt to pass off personal investment losses onto Nissan's books and then paying from company funds a Saudi contact who had previously stumped up collateral for him.

Ghosn found himself embroiled in another legal battle on Monday when French prosecutors opened an inquiry into a party he threw at the sumptuous Palace of Versailles outside Paris in 2016.

Renault disclosed last month that the chateau had waived the usual 50,000 euro ($56,000) rental fee for the October 2016 Marie Antoinette-themed party under a sponsorship deal signed a few months earlier.

The waived bill could amount to the misuse of company resources, as well as tax evasion if the benefit-in-kind was not declared to French authorities.

Ghosn's lawyer in France, Jean-Yves Le Borgne, told AFP that the executive "stands ready" to repay the money, saying his client was "not aware he owed it because he had not been billed".

"He thought it was free," Le Borgne said.

Carmakers Renault, Nissan and Mitsubishi Motors unveiled the creation of a joint board Tuesday, seeking a "new start" for their alliance after the arrest of former boss Carlos Ghosn.

Carmakers Renault, Nissan and Mitsubishi Motors unveiled the creation of a joint board Tuesday, seeking a "new start" for their alliance after the arrest of former boss Carlos Ghosn. The new board structure will be headed by Renault Chairman Jean-Dominique Senard and replaces two previous bodies based in the Netherlands -- one joining Renault and Nissan, the other combining Nissan and Mitsubishi Motors. "We have decided to join our forces again, to enhance the strength of our collaboration," Senard told reporters. This is a "new start" for the alliance, insisted the Frenchman. Senard also announced he would "not be seeking" to replace Ghosn as head of Nissan but would be a "clear candidate" to be vice-president of the Japanese auto giant. For his part, current Nissan boss Hiroto Saikawa said the new board represented "a true partnership on equal footing". Both executives sidestepped questions about Ghosn, recently released on bail in Japan ahead of a trial over alleged financial misconduct. Asked about Ghosn, Senard said: "I have two or three major principles in my life. One of them is the respect of people. The second is respect of facts. And the third... is to respect people and consider them innocent as long as it has not been proven differently." 'Opposition and anxiety' Ghosn is widely credited with creating the three-way alliance, which now outsells all other rival groups. As boss of Renault, he took what many observers at the time thought was a gamble by saving Nissan from the brink of bankruptcy and tying it to the French firm. In a complicated management structure, Renault -- itself 15-per cent held by the French state -- owns a 43-per cent stake in Nissan. However, the Japanese firm has outperformed Renault recently and many Nissan executives were unhappy with the French company's dominance within the alliance. In an interview with AFP in January from inside his Tokyo detention centre, Ghosn himself said his arrest it was a "story of betrayal" based on resentment in the Japanese automaker. His downfall was plotted due to "opposition and anxiety" over the plan to bring Nissan and Renault closer together, Ghosn alleged. The 65-year-old tycoon wanted to attend Tuesday's board meeting in Tokyo but was barred by the court. Although he was almost immediately fired as the head of the company when the allegations surfaced, he is still a board member until April 8, when an extraordinary meeting of shareholders is likely to remove him. But his bail conditions prevent him from contact with anyone else involved in his case -- including Saikawa, who also attended Tuesday's meeting. Ghosn, who strenuously denies all charges against him, was said to be "disappointed" not to be able to attend the meeting. He believes that the accusations against him, which he has frequently described as "meritless and unsubstantiated", should not prevent him from giving his input into a company he saved from the brink. 'He thought it was free' Ghosn faces three charges of financial misconduct. The first two charges relate to the alleged under-reporting of his salary in documents to shareholders to the tune of nine billion yen ($81 million) over a period of eight years. The other charge relates to an alleged attempt to pass off personal investment losses onto Nissan's books and then paying from company funds a Saudi contact who had previously stumped up collateral for him. Ghosn found himself embroiled in another legal battle on Monday when French prosecutors opened an inquiry into a party he threw at the sumptuous Palace of Versailles outside Paris in 2016. Renault disclosed last month that the chateau had waived the usual 50,000 euro ($56,000) rental fee for the October 2016 Marie Antoinette-themed party under a sponsorship deal signed a few months earlier. The waived bill could amount to the misuse of company resources, as well as tax evasion if the benefit-in-kind was not declared to French authorities. Ghosn's lawyer in France, Jean-Yves Le Borgne, told AFP that the executive "stands ready" to repay the money, saying his client was "not aware he owed it because he had not been billed". "He thought it was free," Le Borgne said.

Renault, Nissan, Mitsubishi unveil new joint board post-Ghosn

Daniel Ricciardo will raise plenty of cheers if he beats his former Red Bull teammates in Melbourne next week but the new Renault driver will not be throwing any toys out of the pram if the opposite happens.

The Australian's move to the French manufacturer team at the end of last year was a long term play for the Perth native, a home hero now in yellow overalls ahead of the season-opening race.

"I was aware when I signed the deal here that it was very realistic that, at least come Melbourne, they (Red Bull) are going to be in front," said Ricciardo when asked about the immediate prospects.

"Because I in a way expect it, it's not going to be a shock or anything like that.

"I'm not going to be bitter if they beat us in Melbourne. I feel now we're still on a bit of a different journey," added the 29-year-old.

Former champions Renault, who won titles with Fernando Alonso in 2005-06 and powered Red Bull and their German driver Sebastian Vettel to four double titles in a row between 2010-2013, were fourth overall last season.

Red Bull were third behind champions Mercedes and Ferrari, with Ricciardo and Max Verstappen each winning two races and have since switched to Honda engines.

The evidence from testing suggested Honda had got on top of the performance and reliability problems that have plagued them in the past.

"I know probably a lot of people think 'Ah, if he were to beat Red Bull how good would that be? Sticking it to them'. But it's honestly not like that. If we could overcome any of those top three I'd be stoked," said Ricciardo.

"Seeing what I've seen so far (at Renault) I think there's enough resources to get into that world. So I don't think that's unattainable for us.

"It might not be this year, but it's not a permanent handicap, so to speak."

RUNNING FROM A FIGHT

Had Ricciardo stayed at Red Bull, and they were clear about wanting him to, he would have continued to fight for star billing with Verstappen, the 21-year-old Dutch driver considered a future champion.

The likeable Australian sees himself in a similar light but risked being considered increasingly as a number two alongside the favoured son.

Ricciardo told reporters before the start of testing that his decision to leave was due to a 'kaleidoscope' of different pieces, however.

There was a desire to repeat Lewis Hamilton's success in recognising the potential of a major manufacturer when he moved from McLaren to Mercedes and also annoyance at how Red Bull treated him after an incident in Baku last season.

The team held both Ricciardo and Verstappen equally to blame for a collision that the Australian still holds was mainly Verstappen's fault.

"We both got a talking to, putting it politely. But in my eyes I guess the incident itself I felt I was not really in the wrong," he said. "I guess the way it was handled at the time didn't sit too well with me."

Team boss Christian Horner suggested Ricciardo was "running from a fight" in leaving but the Perth driver, whose new German team mate Nico Hulkenberg has yet to stand on the podium in 156 starts, denied that.

"I love a good fight," he said. "It wasn't about Max. I can understand why they'd say that, but it's wrong."

Ricciardo said the main aim for the season ahead was simply to make progress, for the team to continue on an upward trajectory.

"As long as we make inroads, that's got to be a pretty successful year," he said.

Daniel Ricciardo will raise plenty of cheers if he beats his former Red Bull teammates in Melbourne next week but the new Renault driver will not be throwing any toys out of the pram if the opposite happens.

Daniel Ricciardo will raise plenty of cheers if he beats his former Red Bull teammates in Melbourne next week but the new Renault driver will not be throwing any toys out of the pram if the opposite happens. The Australian's move to the French manufacturer team at the end of last year was a long term play for the Perth native, a home hero now in yellow overalls ahead of the season-opening race. "I was aware when I signed the deal here that it was very realistic that, at least come Melbourne, they (Red Bull) are going to be in front," said Ricciardo when asked about the immediate prospects. "Because I in a way expect it, it's not going to be a shock or anything like that. "I'm not going to be bitter if they beat us in Melbourne. I feel now we're still on a bit of a different journey," added the 29-year-old. Former champions Renault, who won titles with Fernando Alonso in 2005-06 and powered Red Bull and their German driver Sebastian Vettel to four double titles in a row between 2010-2013, were fourth overall last season. Red Bull were third behind champions Mercedes and Ferrari, with Ricciardo and Max Verstappen each winning two races and have since switched to Honda engines. The evidence from testing suggested Honda had got on top of the performance and reliability problems that have plagued them in the past. "I know probably a lot of people think 'Ah, if he were to beat Red Bull how good would that be? Sticking it to them'. But it's honestly not like that. If we could overcome any of those top three I'd be stoked," said Ricciardo. "Seeing what I've seen so far (at Renault) I think there's enough resources to get into that world. So I don't think that's unattainable for us. "It might not be this year, but it's not a permanent handicap, so to speak." RUNNING FROM A FIGHT Had Ricciardo stayed at Red Bull, and they were clear about wanting him to, he would have continued to fight for star billing with Verstappen, the 21-year-old Dutch driver considered a future champion. The likeable Australian sees himself in a similar light but risked being considered increasingly as a number two alongside the favoured son. Ricciardo told reporters before the start of testing that his decision to leave was due to a 'kaleidoscope' of different pieces, however. There was a desire to repeat Lewis Hamilton's success in recognising the potential of a major manufacturer when he moved from McLaren to Mercedes and also annoyance at how Red Bull treated him after an incident in Baku last season. The team held both Ricciardo and Verstappen equally to blame for a collision that the Australian still holds was mainly Verstappen's fault. "We both got a talking to, putting it politely. But in my eyes I guess the incident itself I felt I was not really in the wrong," he said. "I guess the way it was handled at the time didn't sit too well with me." Team boss Christian Horner suggested Ricciardo was "running from a fight" in leaving but the Perth driver, whose new German team mate Nico Hulkenberg has yet to stand on the podium in 156 starts, denied that. "I love a good fight," he said. "It wasn't about Max. I can understand why they'd say that, but it's wrong." Ricciardo said the main aim for the season ahead was simply to make progress, for the team to continue on an upward trajectory. "As long as we make inroads, that's got to be a pretty successful year," he said.

Motor racing: No regrets if Renault are chasing Red Bull, says Daniel Ricciardo

A new <a href="http://www.wionews.com/world/former-nissan-chief-carlos-ghosn-leaves-tokyo-jail-on-bail-after-3-and-a-half-month-detention-201557">bail application for Carlos Ghosn</a> includes an offer for him to be monitored by surveillance cameras to ensure he does not flee Japan or tamper with evidence, his lawyer said, according to a report from Dow Jones Newswires supplied to EFE on Monday.&nbsp;

Ghosn, who has been detained by prosecutors since November 19, is determined to win bail after having two earlier applications turned down, Junichiro Hironaka said at a news conference Monday. Ghosn replaced his previous lawyer with Hironaka, who is known for winning several high-profile defence cases in Japan after he was denied bail for the second time in late January.&nbsp;

Hironaka said Ghosn was willing to face the inconvenience of being monitored to earn his release. He did not specify where the cameras would be placed or who would monitor him. The new application was submitted last Thursday. A ruling is likely this week.&nbsp;

Ghosn earlier offered to wear an ankle monitor to limit his movements, but prosecutors said the proposal was irrelevant because Japan does not use such devices.&nbsp;

"We have presented our own convincing application showing there is no flight risk or risk of tampering with evidence," Hironaka said.&nbsp;

Ghosn's case has highlighted long detention periods in Japan, where prosecutors have greater leeway to hold and question suspects than their counterparts in many Western countries.&nbsp;

Prosecutors have charged Ghosn with failing to report more than $80 million in deferred compensation on eight years of Nissan Motor Co.'s financial reports and with causing Nissan to pay a Saudi businessman who helped Ghosn with a personal financial problem. Ghosn was stripped of his title as chairman of Nissan in November.&nbsp;

Ghosn says he is innocent of the charges. In a January court hearing, he called discussions about the compensation "hypothetical" and not subject to reporting rules, and he said the Saudi businessman's company "was appropriately compensated" for "critical services that substantially benefited Nissan."&nbsp;

Hironaka, who is known as "the razor" for his string of past legal victories, said he was confident of winning bail for his client, the Dow Jones report added.&nbsp;

"I'm now 73 years old, but I want to test how sharp the razor still is," he said.

A new bail application for Carlos Ghosn includes an offer for him to be monitored by surveillance cameras to ensure he does not flee Japan or tamper with evidence, his lawyer said, according to a report from Dow Jones Newswires supplied to EFE on Monday.

A new bail application for Carlos Ghosn includes an offer for him to be monitored by surveillance cameras to ensure he does not flee Japan or tamper with evidence, his lawyer said, according to a report from Dow Jones Newswires supplied to EFE on Monday. Ghosn, who has been detained by prosecutors since November 19, is determined to win bail after having two earlier applications turned down, Junichiro Hironaka said at a news conference Monday. Ghosn replaced his previous lawyer with Hironaka, who is known for winning several high-profile defence cases in Japan after he was denied bail for the second time in late January. Hironaka said Ghosn was willing to face the inconvenience of being monitored to earn his release. He did not specify where the cameras would be placed or who would monitor him. The new application was submitted last Thursday. A ruling is likely this week. Ghosn earlier offered to wear an ankle monitor to limit his movements, but prosecutors said the proposal was irrelevant because Japan does not use such devices. "We have presented our own convincing application showing there is no flight risk or risk of tampering with evidence," Hironaka said. Ghosn's case has highlighted long detention periods in Japan, where prosecutors have greater leeway to hold and question suspects than their counterparts in many Western countries. Prosecutors have charged Ghosn with failing to report more than $80 million in deferred compensation on eight years of Nissan Motor Co.'s financial reports and with causing Nissan to pay a Saudi businessman who helped Ghosn with a personal financial problem. Ghosn was stripped of his title as chairman of Nissan in November. Ghosn says he is innocent of the charges. In a January court hearing, he called discussions about the compensation "hypothetical" and not subject to reporting rules, and he said the Saudi businessman's company "was appropriately compensated" for "critical services that substantially benefited Nissan." Hironaka, who is known as "the razor" for his string of past legal victories, said he was confident of winning bail for his client, the Dow Jones report added. "I'm now 73 years old, but I want to test how sharp the razor still is," he said.

Former Nissan chief Carlos Ghosn offers to accept camera surveillance in bid for bail

Former Nissan chief Carlos Ghosn posted bail of 1 billion yen ($9 million) in cash Wednesday, paving the way for his <a href="http://www.wionews.com/world/tokyo-court-grants-ex-nissan-chief-carlos-ghosn-bail-201209">release from a Tokyo detention centre after more than three months</a> in custody.

The auto tycoon is expected to walk out of the custody centre in northern Toyko after the court rejected a last-ditch appeal from prosecutors to block his release.

Dozens of journalists gathered outside the jail in northern Tokyo from dawn on Wednesday, but prosecutors could still prevent the release by filing new allegations against Ghosn, who already faces three charges of financial misconduct.

Overnight, he once again proclaimed his innocence of the charges, which include claims he under-reported his salary and sought to shift personal losses to Nissan's books.

"I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," the 64-year-old said in a statement.

Members of Ghosn's family were also seen entering the building prior to an expected release.

The surprise court ruling granting Ghosn bail came after two unsuccessful previous attempts to win release and was the latest twist in a case that has gripped Japan and the business world since the auto industry titan's November 19 arrest.

Ghosn shook up his legal team last month, hiring renowned defence attorney Junichiro Hironaka, who quickly filed a new bail request.

The court had previously justified Ghosn's ongoing detention, saying he posed a flight risk and could seek to destroy evidence, so Hironaka's bail request offered restrictions intended to win the court's trust.

The bail terms prevent Ghosn from leaving Japan and include other measures restricting his communications.

'The Razor'

Kyodo news agency said the measures will restrict Ghosn's cell phone use and allow him to access a computer only in his lawyer's office during daytime hours on weekdays.

He will also be banned from contacting Nissan executives and other people with links to the allegations against him, the agency reported.

But Kyodo said Ghosn could still attend board meetings at Nissan, where he remains a director if the court gives approval.

His former right-hand man Greg Kelly, who was also detained November 19 on allegations he helped under-report the tycoon's compensation, was freed on bail of 70 million yen ($635,000) on Christmas Day.

Ghosn's prolonged stay behind bars has come under fire internationally and from rights groups.

Speaking to AFP and the French daily Les Echos in January -- his only interview with foreign media so far -- Ghosn said his continued detention "would not be normal in any other democracy".

"Why am I being punished before being found guilty?" he asked.

Under Japanese law, prosecutors can hold a suspect for up to 22 days while they investigate an allegation, and then can apply for repeated one-month stretches of pre-trial detention for each charge eventually levelled.

That means prosecutors could effectively prevent Ghosn from leaving detention despite Tuesday's bail decision if they level new allegations against him, restarting the 22-day detention clock.

In a shake-up of his legal team last month, Ghosn replaced a former prosecutor known as "The Breaker" with Hironaka, who has earned the nickname "The Acquitter" for his court record and "The Razor" for his mental sharpness.

Complex case

Speaking to reporters on Monday, Hironaka had vowed a "completely new legal strategy" to obtain his client's release, and experts said the change of tack appeared to be behind the surprise bail ruling.

"I think the content of the lawyer's application changed the situation," said Japanese lawyer Nobuo Gohara.

Nissan declined to comment on the bail decision, saying it was a matter for courts and prosecutors.

However, it said that an internal probe had "uncovered substantial evidence of blatantly unethical conduct" and that "further discoveries related to Ghosn's misconduct continue to emerge".

"The company's focus is firmly on addressing weaknesses in governance that failed to prevent this misconduct," it added in a statement.

A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault.

But his attempts to deepen the alliance caused resentment in some quarters, and Ghosn has claimed the allegations against him are part of a "plot" by opponents of greater integration between the three firms.

Given the number of people involved in the complex case and their wide geographical spread, Hironaka said the case would run over a "very long time span".

However, he said prosecutors had begun handing over some of their evidence prior to a potential trial.

Former Nissan chief Carlos Ghosn posted bail of 1 billion yen ($9 million) in cash Wednesday, paving the way for his release from a Tokyo detention centre after more than three months in custody.

Former Nissan chief Carlos Ghosn posted bail of 1 billion yen ($9 million) in cash Wednesday, paving the way for his release from a Tokyo detention centre after more than three months in custody. The auto tycoon is expected to walk out of the custody centre in northern Toyko after the court rejected a last-ditch appeal from prosecutors to block his release. Dozens of journalists gathered outside the jail in northern Tokyo from dawn on Wednesday, but prosecutors could still prevent the release by filing new allegations against Ghosn, who already faces three charges of financial misconduct. Overnight, he once again proclaimed his innocence of the charges, which include claims he under-reported his salary and sought to shift personal losses to Nissan's books. "I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," the 64-year-old said in a statement. Members of Ghosn's family were also seen entering the building prior to an expected release. The surprise court ruling granting Ghosn bail came after two unsuccessful previous attempts to win release and was the latest twist in a case that has gripped Japan and the business world since the auto industry titan's November 19 arrest. Ghosn shook up his legal team last month, hiring renowned defence attorney Junichiro Hironaka, who quickly filed a new bail request. The court had previously justified Ghosn's ongoing detention, saying he posed a flight risk and could seek to destroy evidence, so Hironaka's bail request offered restrictions intended to win the court's trust. The bail terms prevent Ghosn from leaving Japan and include other measures restricting his communications. 'The Razor' Kyodo news agency said the measures will restrict Ghosn's cell phone use and allow him to access a computer only in his lawyer's office during daytime hours on weekdays. He will also be banned from contacting Nissan executives and other people with links to the allegations against him, the agency reported. But Kyodo said Ghosn could still attend board meetings at Nissan, where he remains a director if the court gives approval. His former right-hand man Greg Kelly, who was also detained November 19 on allegations he helped under-report the tycoon's compensation, was freed on bail of 70 million yen ($635,000) on Christmas Day. Ghosn's prolonged stay behind bars has come under fire internationally and from rights groups. Speaking to AFP and the French daily Les Echos in January -- his only interview with foreign media so far -- Ghosn said his continued detention "would not be normal in any other democracy". "Why am I being punished before being found guilty?" he asked. Under Japanese law, prosecutors can hold a suspect for up to 22 days while they investigate an allegation, and then can apply for repeated one-month stretches of pre-trial detention for each charge eventually levelled. That means prosecutors could effectively prevent Ghosn from leaving detention despite Tuesday's bail decision if they level new allegations against him, restarting the 22-day detention clock. In a shake-up of his legal team last month, Ghosn replaced a former prosecutor known as "The Breaker" with Hironaka, who has earned the nickname "The Acquitter" for his court record and "The Razor" for his mental sharpness. Complex case Speaking to reporters on Monday, Hironaka had vowed a "completely new legal strategy" to obtain his client's release, and experts said the change of tack appeared to be behind the surprise bail ruling. "I think the content of the lawyer's application changed the situation," said Japanese lawyer Nobuo Gohara. Nissan declined to comment on the bail decision, saying it was a matter for courts and prosecutors. However, it said that an internal probe had "uncovered substantial evidence of blatantly unethical conduct" and that "further discoveries related to Ghosn's misconduct continue to emerge". "The company's focus is firmly on addressing weaknesses in governance that failed to prevent this misconduct," it added in a statement. A towering figure once revered in Japan for turning around Nissan's fortunes, Ghosn also forged a successful alliance between Nissan, Mitsubishi Motors and France's Renault. But his attempts to deepen the alliance caused resentment in some quarters, and Ghosn has claimed the allegations against him are part of a "plot" by opponents of greater integration between the three firms. Given the number of people involved in the complex case and their wide geographical spread, Hironaka said the case would run over a "very long time span". However, he said prosecutors had begun handing over some of their evidence prior to a potential trial.

Ex-Nissan chief Carlos Ghosn pays bail, set to leave Japan cell

<a href="http://www.wionews.com/world/tokyo-court-grants-ex-nissan-chief-carlos-ghosn-bail-201209">Carlos Ghosn was freed Wednesday</a> after what he called a "terrible ordeal" of 108 days behind bars, leaving a Tokyo jail disguised as a workman in a blue cap, according to a Dow Jones news report supplied to EFE.&nbsp;

The former Nissan&nbsp;chairman, who must stay in Japan after his release on nearly $9 million in bail, will live in a court-approved residence in Tokyo and prepare for a trial that could begin late this year.&nbsp;

At about 4:30 pm local time, Ghosn left the Tokyo Detention House wearing a mask often used by Japanese who have a cold, as well as a uniform with reflective strips like those used by highway workers. He climbed into a small Suzuki van, which drove out of the jail gates and onto the streets of Tokyo, where it was tracked by news helicopters.&nbsp;

Ghosn later got out of the van in central Tokyo to go to his lawyer's office, having shed his disguise and looking thinner than before his arrest but in generally good health, according to footage aired on Nippon TV.&nbsp;

Ghosn's wife, Carole, who arrived at the jail shortly before his release, left in a separate vehicle belonging to the French Embassy. Earlier, jail staff had loaded a Toyota van with an orange pillow, sheets and a mattress apparently used by Ghosn in jail.&nbsp;

The Tokyo District Court on Tuesday approved Ghosn's release after two previous bail requests were rejected. The decision came thanks to a new high-profile team of lawyers with significant defence experience and international criticism about Japan's treatment of criminal defendants.&nbsp;

Under the terms of his release, Ghosn cannot communicate with people overseas via phone or computer.&nbsp;

His release marks the end of a chapter in a case that began with his surprise arrest on November 19 shortly after his private jet arrived in Tokyo. Unbeknownst to Ghosn, Nissan executives and Tokyo prosecutors had been investigating him for months over allegations of financial misconduct.&nbsp;

The weeks following the arrest marked a brutal turnabout for the executive accustomed to roaming the world as the head of the alliance linking Nissan, Renault SA of France and Mitsubishi Motors Corp. of Japan. Living in a small cell at the Tokyo Detention House, he underwent hours of interrogation each day without his lawyer present. At his only public appearance during his detention, at a court hearing on January 8, he looked considerably thinner and his previously black hair was partly grey.&nbsp;

Ghosn lost his post as Nissan chairman three days after his arrest, and Mitsubishi also took away his chairman's title. In late January, Ghosn resigned as chairman and chief executive of Renault, his last executive posts. He remains a director at Nissan, but the company plans to strip him of that position as well in April.&nbsp;

Now that he is confined to Japan and no longer an auto executive, Ghosn is likely to spend the coming months preparing for his trial and making a public case for his innocence.&nbsp;

He kicked off the campaign with a statement Tuesday in which he thanked family and friends "who have stood by me throughout this terrible ordeal" and said he was "totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations."&nbsp;

Prosecutors have charged Ghosn with violating two Japanese laws, one governing corporate financial disclosures and the other barring corporate executives from abusing their positions for personal gain.&nbsp;

In the first category, prosecutors say Ghosn failed to include more than $80 million in compensation he was due after retirement in Nissan financial statements for eight fiscal years ending March 2018. The case hinges on whether the money was promised to Ghosn and fixed in each of those eight years--as prosecutors will seek to show--or was merely discussed in a hypothetical way, as Ghosn contends.&nbsp;

The second set of charges involves a personal derivatives contract that Ghosn says he made in the mid-2000s to protect himself against a fall in the Japanese yen since he was paid at Nissan in yen but had expenses in dollars.&nbsp;

When the yen rose during the 2008 global financial crisis, exposing him to possible losses, Ghosn says the company temporarily took his side of the contract under an arrangement that ensured any realized losses would be borne by Ghosn. Prosecutors allege that the arrangement, although temporary, amounted to Ghosn making the company take on potential risks that he should have borne personally.&nbsp;

Ghosn later took the contract back onto his personal books with help from a Saudi businessman whose company received $14.7 million in Nissan payments between 2009 and 2012. Prosecutors say Ghosn was in effect using Nissan money for his personal benefit, while Ghosn says the money that went to his Saudi friend's company was for legitimate Nissan business purposes.&nbsp;

Lawyers not involved in the case said it would be easier for Ghosn to prepare a defence now that he can freely meet with his lawyers and review documents about transactions that in some cases took place more than a decade ago.&nbsp;

"If he remains detained, the lawyers have to print out documents, go to the detention house and get approval to provide the papers to discuss with him. It's very time consuming," said Yoji Ochiai, a former prosecutor now in private practice.

Carlos Ghosn was freed Wednesday after what he called a "terrible ordeal" of 108 days behind bars, leaving a Tokyo jail disguised as a workman in a blue cap, according to a Dow Jones news report supplied to EFE.

Carlos Ghosn was freed Wednesday after what he called a "terrible ordeal" of 108 days behind bars, leaving a Tokyo jail disguised as a workman in a blue cap, according to a Dow Jones news report supplied to EFE. The former Nissan chairman, who must stay in Japan after his release on nearly $9 million in bail, will live in a court-approved residence in Tokyo and prepare for a trial that could begin late this year. At about 4:30 pm local time, Ghosn left the Tokyo Detention House wearing a mask often used by Japanese who have a cold, as well as a uniform with reflective strips like those used by highway workers. He climbed into a small Suzuki van, which drove out of the jail gates and onto the streets of Tokyo, where it was tracked by news helicopters. Ghosn later got out of the van in central Tokyo to go to his lawyer's office, having shed his disguise and looking thinner than before his arrest but in generally good health, according to footage aired on Nippon TV. Ghosn's wife, Carole, who arrived at the jail shortly before his release, left in a separate vehicle belonging to the French Embassy. Earlier, jail staff had loaded a Toyota van with an orange pillow, sheets and a mattress apparently used by Ghosn in jail. The Tokyo District Court on Tuesday approved Ghosn's release after two previous bail requests were rejected. The decision came thanks to a new high-profile team of lawyers with significant defence experience and international criticism about Japan's treatment of criminal defendants. Under the terms of his release, Ghosn cannot communicate with people overseas via phone or computer. His release marks the end of a chapter in a case that began with his surprise arrest on November 19 shortly after his private jet arrived in Tokyo. Unbeknownst to Ghosn, Nissan executives and Tokyo prosecutors had been investigating him for months over allegations of financial misconduct. The weeks following the arrest marked a brutal turnabout for the executive accustomed to roaming the world as the head of the alliance linking Nissan, Renault SA of France and Mitsubishi Motors Corp. of Japan. Living in a small cell at the Tokyo Detention House, he underwent hours of interrogation each day without his lawyer present. At his only public appearance during his detention, at a court hearing on January 8, he looked considerably thinner and his previously black hair was partly grey. Ghosn lost his post as Nissan chairman three days after his arrest, and Mitsubishi also took away his chairman's title. In late January, Ghosn resigned as chairman and chief executive of Renault, his last executive posts. He remains a director at Nissan, but the company plans to strip him of that position as well in April. Now that he is confined to Japan and no longer an auto executive, Ghosn is likely to spend the coming months preparing for his trial and making a public case for his innocence. He kicked off the campaign with a statement Tuesday in which he thanked family and friends "who have stood by me throughout this terrible ordeal" and said he was "totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations." Prosecutors have charged Ghosn with violating two Japanese laws, one governing corporate financial disclosures and the other barring corporate executives from abusing their positions for personal gain. In the first category, prosecutors say Ghosn failed to include more than $80 million in compensation he was due after retirement in Nissan financial statements for eight fiscal years ending March 2018. The case hinges on whether the money was promised to Ghosn and fixed in each of those eight years--as prosecutors will seek to show--or was merely discussed in a hypothetical way, as Ghosn contends. The second set of charges involves a personal derivatives contract that Ghosn says he made in the mid-2000s to protect himself against a fall in the Japanese yen since he was paid at Nissan in yen but had expenses in dollars. When the yen rose during the 2008 global financial crisis, exposing him to possible losses, Ghosn says the company temporarily took his side of the contract under an arrangement that ensured any realized losses would be borne by Ghosn. Prosecutors allege that the arrangement, although temporary, amounted to Ghosn making the company take on potential risks that he should have borne personally. Ghosn later took the contract back onto his personal books with help from a Saudi businessman whose company received $14.7 million in Nissan payments between 2009 and 2012. Prosecutors say Ghosn was in effect using Nissan money for his personal benefit, while Ghosn says the money that went to his Saudi friend's company was for legitimate Nissan business purposes. Lawyers not involved in the case said it would be easier for Ghosn to prepare a defence now that he can freely meet with his lawyers and review documents about transactions that in some cases took place more than a decade ago. "If he remains detained, the lawyers have to print out documents, go to the detention house and get approval to provide the papers to discuss with him. It's very time consuming," said Yoji Ochiai, a former prosecutor now in private practice.

Former Nissan chief Carlos Ghosn leaves Tokyo jail on bail after 3 and a half month detention

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