important to emphasise we have not heard from mr ghosn. the verdict is today. what will happen to mrghosn in verdict is today. what will happen to mr ghosn in the nissan hierarchy? thank you forjoining us. this year has seen markets on a rollercoaster ride as investors are buffeted by the us — china trade war and fears of a global slowdown and expectations or more interest—rate hikes. us shares steadied overnight after taking a beating in the previous session when the s&p and dow ended at the weakest point since late october. the recent downturn in global stocks was partly because of a sell—off in technology shares, a sector which has helped sustain wall street's upswing for much of the year. and we saw some recovery in the major indices. as for oil it has gained some ground after slumping earlier in the week after concerns about global growth. currently, as you can see, they are in positive territory in asian trade. earlier, i spoke with an investment strategist, who told me what we should expect going forward. we are basically in a holding pattern betwe

did he say anything about the sentiments of mr ghosn? interesting to emphasise we haven't heard from mr ghosn, who is in police custody. his detention was increased to ten days. injapan you can be detained without charge for up can be detained without charge for up to 23 days, so it could be a while before we hearfrom him. as you say, the lawyer has been decided, he's a former prosecutor who went after a lot of ceos as a prosecutor. as you can imagine, a lot of speculation on social media about what this appointment says about what this appointment says about this case. but the lawyer went to speak with mr ghosn for several hours yesterday afternoon, but when he came out he didn't make any comments while reporters were waiting outside. that is what everyone is waiting for, what mr ghosn will save. thank you very much, my colleague and business reporter, mariko oi —— mr ghosn will say. you're watching newsday on the bbc. still to come on the programme: the olympic ambitions of a 90—year—old grandmother and why she couldn't achieve

and mr ghosn was actually supposed to block this pressure from the french government but now that mr ghosn is out of the way, there could bea ghosn is out of the way, there could be a more acute read consolidation that could take place, led both by the government and by the japanese industries, because there still might be up in the air as we speak. we shall keep a close eye. thank you for joining we shall keep a close eye. thank you forjoining us, good to see you. thank you. just to let you know, we are keeping a close eye on that story and shares are down quite significantly today in tokyo. chinese president xijinping is on a regional charm offensive. fresh off the apec summit in papua new guinea, he's in manila today. let's go live to our asia business hub, where rico hizon is following the story for us. nice to see you. anyone following —— eve ryo ne nice to see you. anyone following —— everyone following closely president xijinping is any signs of everyone following closely president xi jinping is any signs of process between china and the us, tell us about this trip to

i think it is important to emphasise, though, that we have not heard from mr ghosn. so we'll of course continue monitoring whether he makes any kind of statement today. but as you mentioned, he's accused of understating his income by $5 billion yen over five years, so that's about m5 million. as you can imagine, many are starting to question how mr ghosn and another executive, greg kelly, could get away with it for so long without anybody at nissan noticing. during that press conference that was in rupert's report, the chief executive officer was asked if the company made some kind of plea bargaining deal with the prosecutor's office, to which he said he couldn't comment. but many analysts are now saying that nissan's books really do need to be looked at, notjust these two individuals. donald trump has called it an invasion and the mayor of the mexican city of tijuana an avalanche. both men are talking about the caravan of thousands of migrants who've travelled through central america and are now in the border city of tijuana, hoping to cross into the us. our corresp

the unity was buying did buy a mr ghosn himself. he had a very strong charisma. in regard to the bond of these three parties, that's gone, and secondly, you can see the french government is going to increase their voice, and obviously mitsubishi motors would not want an excessive influence from the french government, so they would be so many issues brought about on the back of this, i would say, incident. issues brought about on the back of this, iwould say, incident. in fa ct, this, iwould say, incident. in fact, mr ghosn was in charge of nearly 500,000 employees, selling over10 nearly 500,000 employees, selling over 10 million cars last year, from 122 factories around the world, so this news really sends shockwaves around the world. we will have to wait and see what happens next, and when we will hear from carlos ghosn. thank you for that update, mariko 0i. chinese president xijinping is on that update, mariko 0i. chinese president xi jinping is on a regional charm offensive fresh off the apec summit. he is in manila today. our correspondent told me what china

mr ghosn is also head of an industry alliance between nissan, renault and mitsubishi. rupert wingfield—hayes‘ report contains some flashing images. for 20 years, carlos ghosn has been one of the titans of the car industry, charming everyone from journalists to presidents. but tonight, he is in police custody, accused of serious financial misdeeds. at nissan's headquarters, chief executive hiroto saikawa made the dramatic announcement. the company found mr ghosn had hugely underreported his pay in nissan's annual report to the tokyo stock exchange. translation: for us, the company, this is of course completely unacceptable, and we've been advised by experts that this misconduct is serious enough to dismiss him. the news has sent shock waves through the car industry, especially in france, where mr ghosn is also boss of renault. it seems to have come out of nowhere. you know, the accusations are crazy, and as an industry, we're incredibly shocked that someone is so well respected. he turned around nissan in the early 20005 from near bankruptcy. and he could have poten

i think it is important to emphasise that we have not heard from mr ghosn. we will continue monitoring whether he makes any kind of statement today. he is accused of understating his income by m5 billion over five years. many are starting to question how he and another executive, greg kelly, could get away with it. during the press conference, the chief executive officer has —— was asked if the company has made some kind of plea bargaining deal to which he said he could not comment. many are saying that nissan's books now need to be looked into, and not just for these two individuals. donald trump has called it an "invasion" and the mayor of the mexican city of tijuana an "avalanche". both men are talking about the caravan of thousands of migrants who've travelled through central america and are now in the border city of tijuana, hoping to cross into the us. our correspondent, will grant, is there. this is the sports centre in tijuana and for the migrants who have reached this point, the united states is now only touching distance away. now, however, the

mr ghosn is also head of an industry alliance between nissan, renault and mitsubishi. rupert wingfield—hayes‘ report contains some flashing images. for 20 years, carlos ghosn has been one of the titans of the car industry, charming everyone from journalists to presidents. but tonight he is in police custody, accused of serious financial misdeeds. at nissan‘s headquarters, chief executive hiroto saikawa made the dramatic announcement. the company found mr ghosn had hugely underreported his pay in nissan‘s annual report to the tokyo stock exchange. translation: for us, the company, this is of course completely unacceptable and we have been advised by experts that this misconduct is serious enough to dismiss him. the news has sent shock waves through the car industry, especially in france, where mr ghosn is also boss of renault. it seems to have come out of nowhere, you know, the accusations are crazy and as an industry we are incredibly shocked that someone is so well respected. he turned around nissan in the early 20005 from near bankruptcy. and he could have po

because mr ghosn chairs all three parts of this motoring alliance, renault, nissan and mitsubishi. but nissan itself is japan's two car—maker, what's the impact going to be on the company. mrghosn impact going to be on the company. mr ghosn had pretty much handed over the day—to—day running of nissan a couple of years ago to a new chief executive officer, the impact on the operations will be limited but despite that, as you say, he is a huge figure in the car industry here injapan and around the world. it's sending shock waves across the car industry, nissan's board of directors will meet on thursday to formally terminate mr town—mac one's employment, renault are meeting to catch up with this, they had been taken catch up with this, they had been ta ken completely by catch up with this, they had been taken completely by surprise and mitsubishi motors board is also preparing to meet because he was also chair of that. but analysts are saying is it's sort of stars to put into doubt come into question this huge alliance of three separate car companies, which mr gold was the arc

the company found mr ghosn had hugely underreported his pay in nissan's annual report to the tokyo stock exchange. translation: for us, the company, this is of course completely unacceptable, and we've been advised by experts that this misconduct is serious enough to dismiss them. the news has sent shockwaves through the car industry, especially in france, where mr ghosn is also boss of renault. it seems to have come out of nowhere. you know, the accusations are crazy, and as an industry, we're incredibly shocked that someone so well respected — he turned around nissan in the early 20005 from near bankruptcy — could have potentially done something like this. it has been a day of high drama here in tokyo, but it is important to note that carlos ghosn is not being accused of tax evasion. he's accused of misreporting financial data to the tokyo stock exchange. that's something that other bosses of japanese corporations have been found doing, and have not ended up in police custody. whether he is formally charged or not, mr ghosn will now be sacked by the company he helped rescue from th

have we heard from mr ghosn? we haven't heard from mr ghosn, but the process injapan is that, basically, once you have made an arrest, he can be detained for about three days. but the thing about mr ghosn, as you mentioned, he oversees this massive global alliance with many jobs at stake. this three—way partnership between renault, nissan and mitsubishi motors is the reason why investors are really shaken. they are concerned that, first of all, even before this scandal came out, people were concerned about succession. who was going to be able to step into his shoes and take over the job of running this massive partnership, which produces one out of every nine cars, by the way. nine cars, by the way? and be able to bridge those cultural gaps between the french and the japanese. and mr ghosn was considered unique in that respect. he's a polyglot, he has a very international background and real business savvy. and yet, with this scandal, now the concern is that not only will they not have a successor, this allianc

whether he is formally charged or not, mr ghosn will now be sacked by the company he helped rescue from the brink of bankruptcy. it is an astonishing fall from grace for a man once known here injapan as mr fixit. rupert wingfield—hayes, bbc news, in tokyo. live now to singapore and our business correspondent, mariko oi. it is an over used phrase, rockstar but he was treated that way. indeed, it really is a fall from grace. i think it is important to emphasise that we have not heard from carlos ghosn. we will continue monitoring whether he makes any kind of statement today. he is accused of understating his income by m5 billion overfive years. understating his income by m5 billion over five years. many are starting to question how he and another executive, greg kelly, could get away with it. during the press conference, the chief executive officer has asked if the company has made some kind of plea bargaining deal to which he said he could not comment. many are saying that nissan's books now need to be looked into, and not just nissan's books now need to be looked into, and notjust for

mr ghosn had under—reported his earnings and used company assets for personal purposes. he does face dismissal. it is important to mention that he has not said anything or reacted to this situation so far in terms of the public eye. let's go live to tokyo and our correspondent, rupert wingfield hayes. rupert, carlos ghosn is such a huge figure in the global car industry. i have interviewed him, this was a shocking story when it broke. have interviewed him, this was a shocking story when it brokem massively a shocking story. very unexpected, came completely out of the blue and i think it is very clear, i have been talking to people this morning who said it is pretty clear that mr ghosn had no inkling this was coming. he flew into tokyo yesterday afternoon and nissan's corporate jet to attend a board meeting this week, prosecutors went on board thejet meeting this week, prosecutors went on board the jet and told meeting this week, prosecutors went on board thejet and told him meeting this week, prosecutors went on board the jet and told him they wa nted on board the jet an

yet the whole thing was run by mr. ghosn who was a renault man. so there was already that huge tension within the group i think that's what was referred to when it was talked about which power was too concentrated in that one man. >> you mention that. we hear a lot about key man risks, especially following the death of sergio marchionne this summer what do you think this hole left by mr. ghosn's departure might mean for the companies and their shares >> it depends on who steps forward in terms of running the company and running the alliance itself the statement does suggest that will there be more shared responsibility in the future but there was always a question mark about what would happen when mr. ghosn left. i spoke to him last week, we discussed that point he was saying that obviously there was a humor factor behiand the alliance he said there are other people within the group who have that experience on both sides of the alliance, so the japanese and the french side of the alliance who could take over. the french finance minister had mentio

but tonight, mr ghosn is in police custody in tokyo, accused of serious financial misdeeds. at nissan's headquarters, the chief executive made the dramatic announcement. an investigation had found that in annual reports to the tokyo stock exchange, mr ghosn had hugely underreported his pay. translation: for us, the company, this is of course completely unacceptable. we have been advised by experts that this misconduct is serious enough to dismiss him. carlos ghosn now looks certain to be sacked from hisjob as nissan chairman. the news has sent shock waves around the world, especially to france, where mr ghosn is also ceo of renault, and to sunderland, where nissan runs one of the biggest car plants in europe. carlos ghosn will have signed off on that decision to produce the next generation qashqai there in 2020. nissan said they will review that depending on the form of brexit. so if somebody new comes in, there is the possibility that that decision might be reversed. it has been a day of high drama here in tokyo. but it's important to note that carlos ghosn is not being acc

most of the things depend on mr. ghosn. he cannot stay as chairman of nissan and maybe also to leave his position in renault. french president macron has said he will be vigilant about the stability of renault/nissan. is there a potential for renault to become on stable should ghosn have to leave the company? frank: we see only allegations now. japan and thed in alliance of nissan and renault is -- they depend on him and i do not know what happens if he stays for some weeks in prison. to leadmost impossible the company anymore, even if he will become free from prison. audi they were in prison as well -- and all the got a new ceo, maybe the same thing will happen with renault? this is aw much of personal crisis for mr. ghosn and how much does this impact the companies he has been leading. he was planning on stepping down before 2020 -- before 2020 to. frank: he had wanted to step down. he was already 64 years old. he could make it three or four years and then he would give his jobs to her predecessor. -- to a predecessor. --

mr. ghosn has not had the ability to comment on them. management at nissan saying the alliance will endure. quite a few questions. mr. ghosn was such a fundamental figure that over the years piece together that alliance. these were very different cultures and by jetting across the globe, mr. ghosn single-handedly kept that together. what happens now? alix: a big question. assets for personal use, compensation reported incorrectly, all of that amounting to serious misconduct. brooke, your takeaway. brooke: one thing i wonder is why now. itis makes the point that was not on don't he crisscrossed the world on jets. there was a lot of contention that shareholder votes just in the past couple of years. it is interesting to see this coming to a head now. i believe what the company has said the auditors brought to life some of these discrepancies. this is a continuation of tensions for the alliance. you saw nissan get upset when the french government made a power grab in 2015 to increase its stake. they're been rumblings from that side about th

it sent shock waves across japan, mr ghosn isa shock waves across japan, mr ghosn is a hassle name, probably the most famous foreigner in japan is a hassle name, probably the most famous foreigner injapan and has been for many years because of his role in taking over and turning around the fortunes of nissan. it is to pan's second—biggest car manufacturer. it sent shock waves across the world, to paris, the uk as well because nissan has a huge operation in sunderland in the north—west —— sorry, the north—east of the united kingdom and in the united states as well. massive story, massive shock, complete surprise. it really has been, rupert, thank you for taking us through that. we will keep following the fallout from that, as we mentioned, nissan shares down sharply after that news came through. we would be speaking to the justice minister david ngog in a moment, let's go for a slightly earlier whether the normal. we don't like morning fun messed with. no one likes the funk to be messed with, carol. we are going a little bit early. but carol, for tag you got for us? iam early. but c

formal departure of mr. ghosn from the board for a simple reason that we have no proof. we upon by the rule of law. larger-than-life figure in the auto industry, ghosn has been credited with bringing the sun back from the brink. he is accused of misusing company funds and underreporting his earnings by tens of millions of euros. stopped for all three automakers tumbled. the japanese government said it was focusing on the future of the alliance and bracing for an economic fallout. we recognize regardless of this arrest, it's important than the-renault, mitsubishi alliance must remain stable. as for the future of the allianance, we hope thisis wille discussed conructively until all parties agree. >> carlos ghosn was the driving force behind the cooperation between the three brands which saved them almost 6 billion euros a year through cost-sharing. but the consolidation behind ghosn is now being questioned as carmakers consider a future without him. on, one person has died and dozens of others injured after a

mr ghosn was arrested on monday. nissan is cooperating with prosecutors, who believe the chairman declared only half of about $88 million that he was paid between 2011 and 2015. the board are meeting now to discuss stripping him of the chairmanship. greg kelly, nissan‘s first american director and its former head of human resources, was also arrested. the two men are suspected of masterminding a long—running scheme to mislead financial authorities. neither man has yet been charged. professor david bailey, professor of industry, aston university. what are the implications for nissan if mrghosn is what are the implications for nissan if mr ghosn is charged and found guilty? i think you will be sacked today as chair and i think mitsubishi will follow suit. renault is looking to see what the charges are, but ultimately i think he's gone. what that means is he was the glue which effectively held this sprawling empire, this alliance, together, and is in effect one of the biggest car— makers together, and is in effect

mr ghosn now looks certain to be sacked from hisjob as nissan chairman. the news has sent shock waves around the world, especially to france, where mr ghosn is also ceo of renault, and to sunderland, where nissan runs one of the biggest car plants in europe. carlos ghosn will have signed off on that decision to produce the next generation qashqai there in 2020. they've since said they will review that, depending on the form of brexit. so if somebody new comes in, there is the possibility that that decision might be reversed. it has been a day of high drama here in tokyo. but it's important to note that carlos ghosn is not being accused of tax evasion. he is accused of misreporting financial data to the tokyo stock exchange. that's something that other bosses of other japanese corporations have been found doing, and have not ended up in police custody. rupert wingfield—hayes, bbc news, tokyo. the former england and tottenham footballer paul gasgoigne has been charged with sexually assaulting a woman on a train from york to durham. he was arrested at durh

but tonight, mr ghosn is in police custody in tokyo, accused of serious financial misdeeds. at nissan's headquarters, the chief executive made the dramatic announcement. an investigation had found that in annual reports to the tokyo stock exchange, mr ghosn had hugely underreported his pay. translation: for us, the company, this is of course completely unacceptable. we have been advised by experts that this misconduct is serious enough to dismiss him. carlos ghosn now looks certain to be sacked from hisjob as nissan chairman. the news has sent shock waves around the world, especially to france, where mr ghosn is also ceo of renault, and to sunderland, where nissan runs one of the biggest car plants in europe. carlos ghosn will have signed off on that decision to produce the next generation qashqai there in 2020. nissan said they will review that depending on the form of brexit. so if somebody new comes in, there is the possibility that that decision might be reversed. it has been a day of high drama here in tokyo. but it's important to note that carlos ghosn is not being acc

we have not yet heard from mr ghosn because he is under arrest. the fact that it because he is under arrest. the fact thatitis because he is under arrest. the fact that it is coming out that this is a political move shows that supporters are saying that we don't know about the financial misdemeanours but we think something else is going on here. thank you very much. over 800 staff will work through the thanksgiving holiday in california to help identify the remains of those killed in the wildfires that struck the region earlier this month. more than 560 people remain unaccounted for, with 86 fatalities confirmed across the state. heavy rains have helped firefighters trying to contain the fires, but they've also raised fears of flooding and landslides. the bbc‘s danjohnson has more from los angeles. two more bodies have been found today in what remains of paradise and the villages around it. every day the search teams have made more grim discoveries but conditions, the weather, all getting worse making thejob harderfor them. there has been some r

mr ghosn, described as a towering figure in the industry, is credited with turning around nissan and renault. he earned the nickname le cost killer due to the cuts he made to save the french firm. brazilian—born of lebanese descent and a french citizen, mr ghosn was once tipped as a potential presidential candidate of lebanon. his popularity led to a serialisation of his life in a famous japanese cartoon comic, and in 2011, he was ranked 7th in a poll about who the public woud want to lead japan, finishing ahead of barack obama. our business correspondent, simon gompertz, is here with more. you have been looking at this. what has been going on to lead to what has been going on to lead to what has happened today? a giant, a titan, depending on how you want to describe him. you said he turned around renault, that was in the late 905. and then, he got the reputation a5a 905. and then, he got the reputation a5 a big cost cutter when he was brought in to rescue ni55an, which i5 brought in to rescue ni55an, which is close to bankruptcy, in the early to thousands. cut 20,000 jobs, closed

of course mr. ghosn the head of nissan. what are these companies saying? >> we have had nissan and mitsubishi say they are going to look to oust him as chairman from the board of both of those companies. not gone to this point. you've also had the french state come forward because they are the biggest shareholder and say their interests are going to be protected. they want to preserve this alliance. it is important they come to the defense of this alliance because ghosn exiting the picture for thesethe outlook companies. he was key to these three. he was really the face of the franchise. shery: not only the face of the franchise, the face of the business community in japan after the 1990's. there was such a cultlike following for mr. ghosn. basedk they had a manga on what he did. this is a huge fall. >> absolutely. , his role as deal and moste first prominent foreign executives. japan was a very insular closed group reflective of the broader culture of japan. assn was looked at initially , can this foreigner nissan turn around? code like is fair to say. he

ghosn can no longer lead that company, the board will meet in paris and it looks like mr ghosn will lose his job as ceo of renault as well. studio: thank you, rupert wingfield—hayes. our top story this lunchtime. the prime minister will travel to brussels tomorrow to meet the european commission president, jean claude juncker, amid continuing criticism of the brexit agreement from members of her party. and still to come... the first woman to become prime minister of australia tells the bbc of her shock at the sexist abuse she received while in office. and coming up in the sport in the next 15 minutes on bbc news... sir mo farah says he's going to take part in the london marathon again next year. he came third in april but won in chicago last month, his first victory over the distance. the former australian prime minister, julia gillard, has spoken of her shock at the level of sexist abuse she received while in government. she was in power between 2010 and 2013, and was the country's first woman to hold the office. ms gillard, who was confronted by opponents with the slogan ‘ditc

'se overreliance on mr. ghosn expertise could be a negative. commerzbank, nissan action may make it impossible for ghosn to continue in his renault role. we hear mitsubishi saying they are not going to change their structure, so there are so many moving parts. stanley, nissan's reputation is going to take a "base hit." that is what we have seen on the markets, as well. yvonne: we have some breaking lines on nissan. because nissan for an executive got a deal with prosecutors and that is according to nhk. to follow up on that, no impact on day-to-day operations, but longer-term, what are we looking at? stephen: the longer-term is what is going to be the structure of the alliance? you could probably say carlos ghosn's pursuit of a merger within the alliance is probably kaput, but the day-to-day has been running fine without carlos ghosn. reputational damage, most likely, and again, where is the french government's state? will that change? where will mitsubishi falling all of this? mitsubishi says it will investigate and decide, and renault, the bo

mr ghosn is expected to be sacked from the japanese firm over accusations that he under—reported his pay. in yemen's civil war, improved prospects of an end to fighting as the uk urges the united nations to call for a ceasefire.

fit --oes mr. go sean were dismissed or ghosn fit in -- where does mr. ghosn fit in japanese culture? discuss the celebrity among other business executives. over an extraordinary extreme long period of time, he has been one of the most high profile executives in the country. he came in initially when the sun was doing very poorly, and is fairly regarded as the man who saved nissan, who pull nissan out of the fire they were in. so, for this to happen to someone who is so high profile. most japanese executives are not household names or well known. they keep things under the surface. ghosn is something everybody -- ghosn is someone who everybody would know. in that respect, it is absolutely shorting where he. tom: he was on top of the business world for 12, 13, 14 years. or did dissent sudden, you see this coming? i have to say personally, i did not see it coming in the slightest. there were some reports last year, that i will not go into for legal reasons, there were some reports and a weekly magazine about some of this conduct, but that did not turn out

mr ghosn is still currently the chairman of nissan motor corporation, so this is a huge story here in japan, motor corporation, so this is a huge story here injapan, and it will send shock waves around the world because of course mr ghosn is one of the biggest and most famous, most powerful executives in the car industry. he is also the ceo of renal in france and he is the chairman of the nissan renault mitsubishi alliance. so it really is an astonishing fall from grace from an astonishing fall from grace from a figure who has been very prominent in the auto industry for at least the last 20 years. tens of thousands of rail passengers have been delayed or left stranded, after more problems on some of the busiest routes in the uk. network rail has apologised for the disruption after engineering works overran. our correspondent chi chi izundu is at london‘s waterloo station. the information boards behind me said nothing but cancelled this morning. and this concourse was actually filled with a number of really angry and confused passengers who didn‘t quite understand what was going o

ghosn during a press conference on monday. that is where these divisions perhaps come into play where you have two power players at this company, one being the chairman, one is the ceo. it is complicated because you have a situation where not only the nissan board is calling for more information but also the renault board where they did not oust him as ceo, sort of elevated the coo on an interim basis to play that role right now. shery: how are they doing business lies? here in north america, mitsubishi has had some challenges. some of that was maybe springing from unrealistic targets. ghosn was talking about how he wanted to get to 10% market share here, wanted to pass honda. that proved to be an elusive goal for them, they struggle to get to, and resorted to some questionable tactics. they are facing the same problems with trade, raw material cost, that a lot of the industry is. and china and europe slowing down as well. jon: fascinating story, craig trudell joining us with the latest on carlos ghosn. another story on my rad

ghosn and another executive. >> he truly is an iconic figure in the car industry? in theertainly is iconic car industry. he is at the helm of three major nissan, widow, and mitsubishi now. the report stems from 1990 91 nissan was teetering on the edge teetering as nissan on the edge. he became ceo and then he also -- werer ceo of vernal renault. 34% ofacquired mitsubishi, he became chairman of that company. a figure in the industry and has been trying to bolster a massive alliance of three major auto companies. his management style has earned him the nickname -- the shareholders approved his salary for 2017 at 7.4 million euros. in addition, in his final year 9.2eo, he received $9. euros. they are appearing for a future without carlos ghosn and is expected to step down by 2022. it has been said that he does not want a merger. what impact will this have on the car industry? >> it is too early and we cannot speculate on what will happen to the auto industry. while nissan has tried to remove him from the chairman position, he is still the ceo of renault and mitsubishi

wouldt mr. ghosn, there not be an alliance in 2016. we concluded to remove him in order to protect stakeholder interest. mitsubishi management should focus on current plans to remove any concerns among customers and shareholders. alix: so many great things to read over the weekend about this. we are getting a little bit of detail. was deferred comp i carlos ghosn -- by carlos ghosn. david: what i read was 99.6% of all people charged are actually convicted in japan. you cannot do a plea deal unless it is convicting someone else. it is not looking good. there may be ambiguity, but it is not looking good for mr. ghosn. he said we would not have had this conglomeration of these three companies without him. and there are questions of credit actually, part? alix: very big questions. it will get pretty ugly. a fascinating conversation. david: now our third story. we will talk about retail again. watching walmart the cyber monday. it is holiday shopping season. we welcome brooke sullivan, bloomberg opinion: this. when you sayapt cyber monday,

system to the point where -- it is very alarming to people surrounding mr. ghosn and mr. kelly certainly that's sentiment shared with me and i think -- you know, anybody can sympathize with them. but at this point, i do not know what they can do. there's some precedence for charges being dropped during this entire interrogation faze with toyota was released before charges filed. so i mean there's some presents perhaps this could go away but it depends on the negotiations between prosecutor and lawyerses which were very much not at the moment. >> shawn great reporting as always. thanks so much. shawn at "the wall street journal" stay with us we're doing cryptospiral, next. but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in e

for mr ghosn, whether he is charged or not it is going to be a grueling few weeks. the detective in charge of the salisbury poisonings investigation has said the attackers had enough nerve agent to kill thousands of people. you know this story. this was in the south of england in march. the former russian spy sergei skripal and his daughter julia were poisoned. they were found seriously ill on this park bench. and police detective sergeant nick bailey was called to the scene, and also went to the skripal's house. he too had been poisoned by a nerve agent called novichok. all three made recoveries after weeks in hospital. police say that the nerve agent was in this perfume bottle. it claimed the life of dawn sturgess, after her partner found the bottle and gave it to her. the uk says russia was responsible for all of this, russia denies it. here is nick bailey speaking to jane corbin for the bbc‘s panorama programme. detective sergeant nick bailey was the first person to go to the home that night. he was wearing a full forensic suit when he entered their house, and

ghosn also chairs. he was the architect of the tie—up between the three firms. hours after his sacking, france and japan expressed support for the alliance. let's get more from our reporter mariko 0i, who joins us from our asian business hub. first of all, since his revelations, what kind of actions have we seen with those three companies? we immediately heard from nissan, as you recall, on monday evening, shortly after the scrip by a japanese newspaper that he was going to get arrested. we saw it statement from the which is unusual injapan, and then we heard from the company's current chief executive officer, holding a press conference late in the evening on monday. then we heard from renault and mitsubishi motors being formed about it. mitsubishi motors has said that its board is recommending to fire carlos ghosn as well. renault has so far refrained from doing so. yesterday after hours of the board meeting, which to longer than expected, to be fair, nissan's board has officially fired carlos ghosn.

ghosn also chairs. he was the architect of the tie—up between the three firms. hours after his sacking, france and japan expressed support for the alliance. carlos ghosn is or was one of the world's most powerful business leaders. as well as his former role as leader of nissan, the chairman of renault, mitsubishi motors, and chairman and executive of an alliance of all three that collectively made 10 million cars last year. so far renault had not dismissed him, installing another executive on an interim basis, while mitsubishi motors‘ board are considering his role. the future of the whole alliance has been questioned after the downfall of its main architect and behind carlos ghosn‘s own personal drama lies a powerplay between a group. it is no secret that senior executives at nissan felt that carlos ghosn and renault were exerting too much control over a group in which nissan was so control over a group in which nissan was so in the most cars. carlos ghosn reset the structure and leadership of an

mr ghosn, who headed an alliance of renault, nissan and mitsubishi, has denied the allegations, according to media reports injapan. rail passengers who are unhappy about how their complaints have been handled, will be able to appeal via the dispute resolution ombudsman, a new independent service launched today, which is designed to hold companies to account. this follows widespread disruption on the railways this year which has angered many passengers. figures show 28% of people who made a complaint to a rail company in 2017/18 were satisfied with the outcome. and the government‘s brexit deal will leave the uk £100 billion worse off by 2030, and gdp 3.9% lower, the equivalent of losing the economic output of wales or the city of london. that‘s according to a national institute of economic and social research study out today, which was commissioned this by the people‘s vote, an anti—brexit campaign group that wants a second referendum. (stab + cam 5) afternoon, welcome to the business news. now every industry wants something from the brexit talks, not least the fishing business. f

mr ghosn, who remains in detention in tokyo following his arrest on monday, is accused by nissan of under—reporting his salary and using company assets for personal use. his removal ends his long tenure at the top of the alliance between nissan, mitsubishi and renault. the human rights organisation amnesty international has accused france of unjustly punishing dozens of people without trial by increasingly using counterterrorism measures. the measures can impose curfews and make it obligatory for the person to report daily to the local police. engineers in italy have revealed that the leaning tower of pisa is not leaning quite as much as it used to. they say that, thanks to restoration work, the medieval monument is now stable and has been straightened by 4cm over the past two decades. and a 23—year—old designer in the philippines has come up with an innovative solution to the country's slum crisis — a low—cost housing unit made from bamboo, which takes just four hours to construct. earl patrick forlales, who has won a top $64,000 prize for his design, will start work on the first of his ho

mr ghosn had been in charge of the company for almost two decades. he's also the chairman and chief executive of renault. he's accused of under—reporting his income at nissan by millions of pounds over five years. jeremy hunt — the foreign secretary — says the government is doing all it can to secure the release of matthew hedges — the british academicjailed for spying in the united arab emirates. officials there say they hope to reach what they call an "amicable solution" with the uk after widespread criticism of the life sentence given to mr hedges. he'd been in the country conducting research on security strategy. i should warn you this report from paul adams contains some flashing images. back on home soil, exhausted and emotional. matthew hedges' wife, daniela, returned from the united arab emirates early this morning. in a bbc radio interview, she spoke despairingly about her husband's six—month ordeal. evidence against him is completely fabricated and he was put through so much pain for six months that absolutely nothing that he said

a report in the financial times claims mr ghosn had been planning a full merger between car—makers nissan and renault, which was opposed by the board of the japanese company. ikea has said 350 of its employees in the uk, mainly in head office roles, are facing redundancy as part of its global transformation plan. the swedish home retailer, which has 17 stores in the uk, expects 7,500 jobs to be cut across its global operation. ikea says it plans to open large stores in city centres as it seeks to adapt to changing shopping habits. counter—terrorism police are investigating after two bombs were found in an empty flat in north—west london. our home affairs correspondent june kelly is here. june, what more can you tell us? the police were called just after 9:30am to this flat in houston in north—west london, the flat is being refurbished. —— harlesden. they bound two explosive devices which we re bound two explosive devices which were taken away for examination and this evening it was announced that the scotland yard counterterrorism command were adding the investigation. local res

mr ghosn had been in charge of the company for almost two decades — he's also the chairman and chief executive of renault. he's accused of under—reporting his income at nissan by millions of pounds over five years. the foreign secretary, jeremy hunt, says the government is doing all it can to secure the release of matthew hedges. yesterday, the british academic was jailed for life for spying in the united arab emirates. officials there say they hope to reach what they call call an ‘amicable solution‘ with the uk after widespread criticism of the life sentence given to mr hedges. he'd been in the country conducting research on security strategy. our report from our diplomatic correspondent paul adams does contain some flashing images. back on home soil, exhausted and emotional. matthew hedges' wife, daniela, returned from the united arab emirates early this morning. in a bbc radio interview, she spoke despairingly about her husband's six—month ordeal. evidence against him is completely fabricated and he was put through so much pain for six months that absolutely nothing that h

i think with mr. ghosn off the picture, the chance of a merger are small. you could almost argue it is in the interest for nissan -- they consider the table with renault and continue for cooperation. alix: thank you very much. appreciate that insight. robert dole is still with us. do you like autos? robert: we are not crazy about the autos. anything interest sensitive, it is amazing it lasted this long in the cycle. not so good for me here to the end of the cycle. stocks are cheap. we own gm, but we are underway. disruption in the sector has been massive up late. there has been the race to electric, and with ghosn exiting and the death of sergio marchionne, you have seen some of the primary architects of the postmodern auto business does appear. -- disappear. robert: it is a change for the guard and the new technologies are coming quickly. tesla talks about it all the time. gm has good technology that does not get talked about enough and eventually will help transform g.m., hopefully. jason: you're going to be sticking with us. we have a lot more to drag ou

the firm said it had been conducting an internal investigation for several months which showed mr ghosn had misused company resources. tens of thousands of rail passengers have been delayed or left stranded, after more problems on some of the busiest routes in the uk. network rail has apologised for the disruption after engineering works overran. our correspondent chi chi izundu is at waterloo station. how bad has it been today? well, clive, the information boards behind me said nothing but cancelled this morning and this concourse was actually filled with a number of really angry and confused passengers who didn't quite understand what was going on. we spoke to university stu d e nts going on. we spoke to university students being told by staff to change their travel plans and other people trying to get to work being told to work from home. network rail blames overrunning engineering work but this disruption isn'tjust affecting waterloo station here, it has had a knock—on effect on other stations also. the uk's busiest station on a monday morning, passengers at waterloo were greeted

ghosn also chairs. and professor david bailey from aston university gave his reaction. there are huge fault lines within the group. renault had a 15% stake in nissan, nissan had a 15% stake in renault and yet nissan was a bigger company, generating the profits. huge tensions were emerging. ghosn was trying to increase that control and effectively merge them and i think this has all the hall marks of basically a coup, whereby nissan have taken ghosn out. there is going to be an attempt, i think, by nissan to assert some control here. i think the finance ministers from france and from japan will be meeting at the weekend, but there are huge stakes about whether they can hold this together. majestic is ordering up an extra five to eight million pounds worth of wine to make sure it has enough to sell if there is a brexit breakdown at the ports after march 29. but that is not the reason why the shares crashed some 17% today. it's also said that sales are not doing that well anyway, and the company reported a

coup is not, a really like the has mr. ghosn is not involved. it seems to be much more a struggle about direction and what we know already is that the top management, at least involved in the scandal, we very much hope we will hear something smart from the board meeting today in which direction to go, and we know from 2015, there is a very open struggle about the power balance between renault in europe and nissan in japan. this has been at a very topline issue at the company from early this year, and now, it comes down to -- where is direction going? shery: what does this say about well?se culture as we are now even hearing regulators, out and say that whistleblowers need to be protected. will this really be the cause of more change in corporate governance in a country? side ofon the scandal the issue, it is really messy, because a lot of cultural issues clash here. on the one hand side, it is executive pay, which from mr. is ratherrspective balanced because his income overall was about the level of volkswagen or general motors. it is about 10 t

ofian flowers on the story mr ghosn. there is too much to speak of. to look for president putin to arrive at the airport in buenos aires. use the pageantry of the meetings, always important. coming up, a timely conversation from a republican of the minority from little rock, arkansas. looking forward to speaking to the congressman. this is "bloomberg." ♪ uma: this is bloomberg surveillance. let us get the business flash. is steppingreserve up its investigation into goldman sachs in that scandal over 1mdb. the fed it wants to know how todman executives dodge internal controls and helped malaysian authorities raise billions of dollars. one former goldman executive has played guilty. -- has pleaded guilty. the airline this docking is president pay 20% for three months. another executive is getting a temporary pay cut. at&t is taking on netflix, putting its new collection of property tax -- properties to work, ruling out streaming services. one will be movies only, another will have original programming. the third will have content license from other co

mr. ghosn had an extraordinary career of outstanding achievements of turning around renault and nissan, so this is a very odd way of ending a stellar career in the automotive industry >> you mentioned a couple things i want to pick up on in terms of the potential for a formal merger, why wouldn't nissan want to formalize that relationship >> go back to 1999 nissan was showing huge debt of about 20 billion u.s. dollars. it was almost near bankruptcy. renault stepped in to save it. carlos ghosn was brought in as a foreigner to do what no japanese ceo could do, that is to cut ties within then industrial conglomerate, to lay off people. he did a great job of turning around that company. fast forward to today, 19 years on, nissan regained strength, there's been issues of fuel economy figures, but nonetheless, it's a stronger company. now you have two companies that are of roughly equal size and strength so there may be a feeling that nissan is not in need of being taken over but can stand on i

ghosn. julianna is at the renault headquarters outside of paris and has been monitoring events what is the latest >> a fast-moving story, and your recap of the board meeting last night was great. putting it all together, renault is taking an innocent until proven guilty approach this draws stark contrast to the comments out of nissan earlier this week with the ceo explicitly putting blame and guilt on to carlos ghosn and calling for his immediate dismissal this thursday at an egm in japan now the french government owns 15% of rerenault their thoughts on the matter are crucial. this morning bruno lemaire held a press conference in paris and echoed the thoughts of renault and said there is no proof of wrongdoing at this point i would just say bear in mind that nissan has been sitting on this story for a number of months they've been running their own internal investigation renault just entered the picture this week. so we're looking at a different time frame and a different amount of informati