this is your business briefing. i am sally bundock. ghosn going. nissan shares slump in tokyo, as the car giant says its chairman will be sacked over allegations of financial misconduct. india's hidden pay gap. how the country's 4.8 million strong transgender community is fighting for equality. and on financial markets, the chips are down and tech stocks are flagging as asia follows the big tech sell—off. pessimism about escalating trade tensions is taking its toll again. kl is shocking news surrounding

nissan. —— we begin with the chaos and shocking news. shares in the japanese car maker nissan have fallen sharply today on the tokyo stock exchange, at one point down some 6% as investors reacted to news of the arrest of the company's chairman, carlos ghosn, on suspicion of financial misconduct. mr ghosn is suspected of understating his income by 5 billion yen over five years — that amounts to almost $41; million us. nissan say allegations of his "serious misconduct" fall into three areas: misrepresenting his pay in a report to the toyko stock exchange, misrepresenting the purpose of spending the company's investments, and also using the company's assets for personal use. this is how nissan renault is made

up, it is a huge player in the global car industry and is actually owned. as you can see, renault own 4296 owned. as you can see, renault own 42% of nissan, whereas nissan is holding 15% of renault, but also the more recent acquisition for nissan is it holds a 34% stake in mitsubishi. his sudden departure has also highlighted the complicated structure of this company. the french government owns a 15% stake in renault. french president emmanuel macron has said the state will be "extremely vigilant" about the stability of renault and its alliance with nissan. but we must point out that so far, on the part of mr ghosn himself, he has not commented on any of these allegations. he's known for his ferocious work ethic and charismatic leadership style.

but as our correspondent was saying earlier in our talk in tokyo, he has been under investigation and arrest since he was arrested yesterday, which is possibly why he has not had the chance to respond to these allegations. let's get more on this now. professor seijiro takeshita at the graduate school of management and information of innovation at the university of shizuoka. thank you forjoining us, a regular on the programme. give us your reaction to this shocking story that vote yesterday, tell us what you think about this. well, it is the sheer surprise, of course as you say, read consolidation and changes in the industry at set to come because of this alone, but more from the japanese point of view, he was seen as the japanese point of view, he was seen as a the japanese point of view, he was seen as a bit of a hero, very iconic figure who basically rejuvenated nissan from the link of its ba n kru ptcy nissan from the link of its bankruptcy back in 1997, so it is very negative feeling and i think this is also a very strong

characteristic of a western type of ceo embezzlement, because it is one's and well. many japanese felt that he was in a sense japanese in the sense that he would care for the company more than himself, but that has been shattered over recent days, it isa has been shattered over recent days, it is a bit ofa has been shattered over recent days, it is a bit of a shocker injapan. isa it is a bit of a shocker injapan. is a huge shock because he has been such a huge player in the global car industry for decades, i have interviewed carlos ghosn myself, but interesting to see the late press conference in tokyo, the nissan ceo h i roto conference in tokyo, the nissan ceo hiroto saikawa, who was talking about maybe he had too much power and there was too little oversight as this company grew and grew under his leadership. i think that is absolutely correct. i think there has been an excessive concentration, virtually the three companies was

almost up to himself, which also included the negotiation with the french government and the japanese government as well, so obviously there has been and assesses concentration of power and i think that that was definitely one of the reasons why it brought about 0rd made this embezzlement possible and that really has to be changed. —— what made. interesting to see the french government react quickly, say that they want to be vigilant about the renault alliance, but injapan, get the sense that they feel the japanese side of the business was undervalued in this partnership. breakthrough, and that is one of the reasons why nissan also met this year as part, and also the japanese government, it is quite aware of the strong influence from france, the french government, which is something that they did not want. 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 manila. well, it is quite important because the philippines now is an ally of beijing and the chinese expecting to

steal billions of dollars worth of deals as philippine president rodrigo duterte's government has ignored basically us warnings about accepting chinese cash, they have dozens accepting chinese cash, they have d oze ns of accepting chinese cash, they have dozens of agreements being signed during this trip from infrastructure to trade, the security, and this basically builds on $24 billion in investment pledges made two years ago when president rodrigo duterte visited beijing. —— seal. but much of that money that china previously promised has yet to come through. few projects have gotten off the ground and the slow pace has been criticised by rodrigo duterte's political opponents, saying the philippine leader had adopted a policy of appeasement towards china and deals could be a case of broken promises, and the expected deals include a $2 billion chinese investment to convert part of a former us air base, north of manila, into an industrial park, and $700

billion development project off the philippine islands of luzon. thank you, great to see you. —— island of. in a debate around the gender pay gap, the third gender is often overlooked. india's transgender population is estimated at around 4.8 million people. while the country's supreme court has recognised the third gender, ensuring equal opportunities to the community, in reality, there is still a big gap. so we look at how the community is fighting for equal pay in india. this transgender group in the eastern city of kolkata is celebrating the birth of a child. it is the custom, where they sing and dance, offering blessings for the ba by‘s dance, offering blessings for the baby's healthy life. dance, offering blessings for the

ba by‘s healthy life. the dance, offering blessings for the baby's healthy life. the performance goes on until they are paid by the family. it can be a toughjob. there is some bargaining, and eventually, the child's mother relents paid and $70. —— relents to pay them. translation: this is how we survive, sometimes wejust get translation: this is how we survive, sometimes we just get $1. there are nojobs for the men sometimes we just get $1. there are no jobs for the men and women, sometimes we just get $1. there are nojobs for the men and women, so sometimes we just get $1. there are no jobs for the men and women, so we are likely. 2000 kilometres away, he's getting ready for his performance. he earns $1300 a month asa performance. he earns $1300 a month as a ci’oss dresser performance. he earns $1300 a month as a cross dresser dancer, but to be as a cross dresser dancer, but to be a drag queen was not an easy choice of profession. why i choose this job, there was no food at my home. i was ina job, there was no food at my home. i was in a small town and wearing a woman's costume and doing such a task like this, it was not easy.

according to a recent study by the world bank, india has been losing about 2.6 billion dollars each year because of discrimination against lgbt. while some businesses are more inclusive, members of the committee feel stricter policies are needed. translation: big companies do not think about this, i think there should be quoted to people like us injobs, to should be quoted to people like us in jobs, to guarantee should be quoted to people like us injobs, to guarantee their should be quoted to people like us in jobs, to guarantee their place, and many apply. the latest campaign is no conditions apply. the mark of their social acceptance, which it hopes will be found in the corporate boardrooms as well. india has around 5 million transgender people, they got legal status back in 2015 india's top court but the social stigma remains. there are those who are hoping to ridge this gap. ——

bridge. we will have a news briefing in just a minute. the cia's conclusions into the murder of saudi journalist jamal khashoggi will be published on tuesday, according to president trump. leaks suggest the intelligence agency believes mohammad bin salman, the saudi crown prince, called for the killing. according to white house officials, the crown prince has told the president five times he had nothing to do with it. king salman has delivered his annual address to his advisory council and said he trusted the saudi judiciary

to ensure justice. he made no mention of the murder. 0ur chief international correspondent lyse doucet is in riyadh. well, i did speak to some senior saudi officials about this, and said wasn't this moment for king salman, in an absolute monarchy, to address possibly one of the greatest crisis the kingdom has ever faced? and i was told that that was not the king's style, that saudi arabia really did not want to hear about the khashoggi affair again. one member of the shura, who admitted to me that this crisis has set saudi arabia back for years, and she regretted how this black cloud would hang over the kingdom, this question of who was responsible for it would continue to plague saudi arabia. even she said that today, with the king setting out the agenda for the year, it was not the right place. but there were hints in his short arabic speech, when he talked about the need forjustice, when he said that no crime should go unpublished, when he talked about the need for improving governance

and removing mistakes, and avoiding mistakes and errors. but perhaps the strongest symbol of all was his favourite son, the crown prince mohammad bin salman, sitting in the front row, and the king praised him for the economic and social reform that he's been pursuing into the kingdom, and his only instructions? to pay greater attention to the youth. this is the briefing, from bbc news. the latest headlines: protests over fuel prices, healthcare and job cuts are threatening another day of chaos across france, and piling pressure on president macron. four people have been killed, and two others critically wounded, in a shooting at a hospital in chicago. witnesses describe the gunman targeting victims at random. now it's time to look at the stories that are making

the headlines in the media across the world. we begin with the telegraph and uk prime minister theresa may who has faced down eurosceptics within her party, as tory rebels fall short of 48 letters for a no—confidence vote. the japan times reports carlos ghosn, the man of the alliance between nissan motor co, renault sa and mitsubishi motors corp, has been arrested on suspicion of violating a financial laws after being suspected of under reporting his income. an opinion piece in the new york times says us president donald trump has only hardened his refusal to concede any possibility that saudi crown prince mohammed bin salman was involved in the killing of saudi dissident journalist jamal khashoggi. last week the central intelligence agency concluded the kingdom's de facto leader, had ordered the murder. 0n the bbc news website in the us/canada section there's the news a father from quebec has launched

a class—action lawsuit against mcdonald's, alleging the compa ny‘s happy meals break strict provincial laws against advertising to children. and finally a potential new addition to london's ever changing skyline is currently dividing opinion. architects foster + partners have submitted plans for a 1000 foot—tall visitor attraction in the middle of the city's financial hub. the tower, dubbed "the tulip", would become the second tallest building after the shard. with me is james hughes who's chief market analyst and axitrader.