we have been hearing from the ceo of mitsubishi motors. saying it would be difficult to manage that an alliance with the nissan and renault without carlos ghosn. the board of mitsubishi set to meet next week to discuss his departure. in on what is happening with the rest of the stock market. continuing to see a selloff in the technology set her. london holding onto the flat line. paris and frankfurt in the red, this as selloffs sparked on reports that apple cut orders from its suppliers for the iphone, sparking selloffs. meanwhile, crypto currencies are continuing to have a terrible month of november. the price of bitcoin has slumped to his lowest level in 13 months. tradingtal currency now significantly lower. at the end of 2017, we were talking about approaching 20,000. a big fall there. one of the best selling artists, taylor swift, has chosen a new record company. she announced she sun with the universal music group. the financial details were not disclosed but swift has attached some interesting conditions. she will own the master rec

we are hearing from the third member of this alliance between renault, mitsubishi and nissan, mitsubishi motors telling us, there is no need right now to review the nissan tie up. nissan owns 24% of mitsubishi. they are kind of the forgotten leg of this triumvirate. france, to maintain its top renault stake him according to the finance secretary, they own 15% and have quite a bit of sway renault. switching the pages here. if you are catching up and following at home, carlos ghosn was detained last night. nissan renault. confirmed on suspicion of breaching japanese financial laws. we had to eight news reporting he may have understated his income by $44 million u.s., and nhk saying he spent several billion yen on multiple homes. -- nissan spent several billion yen on multiple homes for carlos ghosn. this cannot be tolerated by the company and is sufficient grounds for his dismissal. that is where we will get this board meeting in yokohama, the headquarters thursday. he along with another board director could be ousted. david: what else is next? stephen: renault is the other side of this th

what is at stake for mitsubishi motors in today's vote?mong the partners of this three-way alliance, they have the most at stake as a company simply because if that alliance. part, that would have the hardest time surviving independently. this company has not only that, but in general, the whole issue is coming to a head now with leaks coming out about what specific allegations are. one thing to keep in mind, the cfo of nissan is on the mitsubishi board. he will be at that meeting. it's fair to assume he will be presenting the allegations to the other board members, at which time they will consider what to do. it seems unlikely they would not follow in nissan's footsteps. that would be a real shock to the system if that happened. still, they may have more to say. they may have specific information that would come out about the nature of the allegations. the longer this drags on, the less explicable it becomes in some cases because the allegations still have not been made clear about which laws were broken in this case. manus: yeah, look, t

nissan owns 34% of mitsubishi motors.san and carlos ghosn can to the rescue when mitsubishi motors was in the thrall of some scandals as well as potential bankruptcy. bit.ides have turned a we are hearing from the nikkei that mitsubishi motors corporation has begun an internal investigation and will compile the results as soon as next month, but the result -- the vote is happening today. they are doing their own investigation, working with theers to establish whether misconduct established that nissan was also happening at mitsubishi. ceo hadheard the nissan a briefing with global employees around the world telling them what they found. we are hearing that the relationship -- this is what he told the employees. the relationship in the allianz has not been equal and he will -- alliance has not been equal and he wants it reviewed. nhk reporting we have our first alleged comment from carlos ghosn. he has denied any wrongdoing according to state broadcaster nhk. , with said no wrongdoing the allegations of underreporting earn

and the carmakers down 1.66% in part thanks to renault, nissan and mitsubishi let's talk about apple, which has cut production orders on three of its newest iphone models the newspaper reported that weaker than expected demand was to blame for the decision and so far it looks like european chipmakers are following their asian and u.s. rivals lower. the broader tech sector has hit its lowest level in almost two years. just to give you a snapshot of that, facebook, apple and nvidia stocks trading lower at this stage last night we saw facebook closing down 5.7% apple down almost 4% nvidia down a remarkibiliable 1% in terms of last year's performance, that's a telling set of numbers facebook 39.5% lower onthe las 52 weeks amazon down 25%. netflix down 35% some pretty striking numbers there for the u.s. performance stocks in asia have followed wall street lower. nancy hungerford has been watching over the course of the day. how much is that u.s. tech trade spilled over to asia >> it's not pretty across the board in asia. the tech wreck on wall street is playing a big part you can see we sa

peter: first nissan, no mitsubishi. of carmaker's board directors has fired carlos gosen -- ghosn as chairman. the once-revered tycoon has begun a second week in detention, though he has yet to be formally charged and denies the allegations of misconduct against them. france's finance minister has said it is in everyone's interest to keep the renault-mitsubishi, nissan alliance together. he dismissed a talk to promote merging nissan with renault. >> i want to account for the stakes held by both side today -- sides today. i agree with my japanese counterpart that it is best if the stakes stay the same, and the way it is governed does not change. ult is theno -- rena dominant partner, but the japanese firm makes more sales. the french carmaker, 15% owned by france, is keeping carlos ghosn as chairman and ceo for now. ghosn was arrested last monday on failing to declare income euros. around 40 million japanese media say this was arranged to be paid out after his retirement. there are also claims that ghosn continue to unde

untreated.started we are also keep an eye on in its vichy -- mitsubishi motors.s is a big story. >> the latest on the son, also offers outweighing bids by 1.5 to one. we are waiting for that stock to start trading in japan, let's .et you going >> thank you, the anticipated revolt against the u.k. prime minister theresa may appears to be running out of steam. her opponent went to the threshold for a leadership challenge, she appealed for the support of big business, saying the issue is not something little. they reality of jobs. her opponent at home and abroad say the deal must be debated and voted upon. the modi government and the reserve bank of india has official demands for share in capital. the panel began transferring funds to the government, after a board meeting that lasted or than nine hours. the two sides have been sparring for weeks over how much capital the bank needs and how tough the lending rules should be. white house has restored cnn correspondent jim a costas press pass, ending a 12 day drama. cnn is -- has now dropped the legal action against th

mitsubishi at third quarter of this year., and we are expecting 2019 and 2020, etc., moving because we have a lot of commitment from overseas. manus: that was the al habtoor founder and chairman, khalaf al habtoor discussing the economy in an interview. he is ready to get involved in schools and a number of businesses. the show, u.k. government and the bank of england issued a dire warnings about the consequences of a disorderly brexit. mark carney says the nation could suffer its worst slump since world war two. nejra: u.s. stocks surge the most since march yesterday and the dollar dropped as jay powell strikes an unusually dovish tone on rates. when you are traveling to work, tune into bloomberg radio on your mobile device or dab digital radio in the london area. this is bloomberg. ♪ >> interest rates are still low by historical standards and remain below the range of estimates of that level that would be neutral for the economy. that is neater -- neither speeding up or slowing down. we do not detect a broad-based lowering

as head of the alliance between nissan, mitsubishi and renault he was one of the world's most powerfuliness leaders, until his arrest injapan on monday over allegations of financial misconduct. he's suspected of under—reporting how much he was being paid, to the tune of more than $40 million, and misusing company funds. in the next few hours the board of nissan are expected to announce whether they will remove him as chairman. his arrest has seen the share prices of nissan and mitsubishi fall sharply on the tokyo stock exchange. it's been the same story for renault‘s shares in paris, although the french company says it wants to see evidence before deciding whether to oust him from his role there. mr ghosn‘s removal from nissan would bring to an end more than 18 years in charge. he's widely credited with turning the company around. but nissan's japanese ceo this week described it as a regime, underlining tensions with the company's local management. that's partly because of this. renault, whose biggest shareholder is the french government, controls nissan with a 43% stake. in return, ni

nissan owns 34% of mitsubishi motors.ssan who supposedly led this as some against theup carlos ghosn, but on the back of allegations of misconduct, which have been handed to the tokyo prosecutors office. they have not charged him yet, but this man will lay his case and update global employees of nissan later today as well. bit -- little ramy: a little bit more into the alliance. how stable or not is it? stephen: it will be interesting to see how mitsubishi votes. if they oust carlos ghosn as well, that it is up to renault and the french government, how will they perceive -- proceed. the renault board decided to keep him on as their ceo. they named him -- there coo was named interim ceo. they want more information on the alleged crimes of carlos ghosn. the alliance is a separate entity itself. it is domiciled in the netherlands, and they will have a meeting this week, and it will be interesting to see whether the nissan ceo shows up for that. it would be the first time he would be meeting with perry velarde as well to deci

the most dazzling managers in the automotive business after all he has the partnership of redeye mitsubishi and new son and his belt. but he's been under investigation for months now. the japanese can make a new son says an internal investigation shows going under reported his income for several years. and is also said to have used company money privately. board of directors now needs to decide whether it will dismiss him as the head of the japanese carmaker. according to the japanese newspaper asahi gun is cooperating with authorities and has already been questioned. has been caught look coast killer since his time at the top of run i and some credit him with bringing back on the right to success after years of high losses and debts. my colleague steve because they have been following this fast moving story for us. is quite a figure in the automotive industry tell us a bit more about this regularities really one of these old school sort of auto titan executives sort of like. who died earlier this year he was had a fair chrysler someone who's known for taking a company was really sort of la

mitsubishi in tokyo down almost 7%. looking at the tech route, tencent playing into things -- down about 3.5%. anna: thank you very much. asking ourre question of the day on the market slide blog. which us that will see the largest reaction to a u.s.-china trade surprise? do you think we will get a surprise? and in which direction will it be? you can join the discussion. us get a bloomberg first word news update. anticipated revolt against u.k. prime minister theresa may appears to be running out of steam with her reach as yet to threshold for a leadership challenge. 20 -- the 48 threshold has proved to be wide of mark. carney appears at the u.k. parliament later today with brexit likely to dominate questions. in an exclusive interview, anna edwards asked jeremy corbyn if the chairman was right to describe a corbyn government and a hard brexit as armageddon. got a pretty vivid sense of imagination. but i think you should read something a bit more positive in the future. no deal.want a i want a deal and a society that wi

that's different from what mitsubishi motors and nissan have said. his future at renault is still sort of an open question and not sort of clear, not at all clear who is going to be in charge of that company. he remains the c.e.o. of renault at this point. >> craig trudel there coming to us in new york. let's get you to first word news. >> the anticipated revolt against u.k. prime minister theresa may appears to be running out of steam. her opponents are yet to reach the threshold for a leadership challenge. she appealed for the support of big business saying the issue is not some political theory but a reality of jobs and wages. may's opponents at home and abroad said the deal may be imperfect but it must deb baitd and voted upon. >> i think probably if you had to have the challenge there are all sorts of risks but it could be made short. but i think a much better option is actually put the thing to the house now. what's driving people is a fear they'll end up with christmas with this vote and at which point you really are out of time. >> the reserv

part of mitsubishi and the alliance between nissan mitsubishi and others.this alliance would do wonders for the mitsubishi brand. how worried are you bought the alliance at the moment -- worried are you about the alliance at the moment? >> not worried about it at all. it is business as usual. the alliance is intact and the direction from the mothership in japan and direction here in the united states stays focus on business at hand. fred, when you talk about doing business as usual, i want to talk about your car lineup. specifically where the mitsubishi brand is headed in the united states. and, if there are any plans to expand into more fuel-efficient vehicles. primarily electric vehicles. >> yes, the vehicle you see behind me is a prototype and is a concept vehicle. this is the design inspiration for where mitsubishi is going in the future. as well as the loaded technologies this vehicle has which will be a part of our future when the alliance lifeforms and synergies kick into gear. show up in the united states within a two to three-year time frame. we ar

and he is the brains and the architects of this nissan — mitsubishi— renault alliance.g to happen? that's the interesting question because his sudden departure has highlighted the complex structure of the alliance. renault owns 43% of nissan, while nissan only holds 15% of renault, and the french government also holds 15% of that as well, and nissan also holds one third of mitsubishi motors as well. we were told there are many issues for the alliance to continue. 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, selli

here in japan, nissan is the main one, but mitsubishi motors is involved.n of mitsubishi motors and the chief executive officer of renault in france. he had been trying in the last few years to pull these three companies into a closer alliance and to build what they hoped would become a competitor for toyota and volkswagen at the real top of the collea g u es volkswagen at the real top of the colleagues around the world. —— of the car leaks. his arrest, departure from nissan probably from the other two companies put into question the whole of our company's structure. some analysts are saying that of course this is about illegal activity and underreporting of his benefits salary but it is the background to this is the beginning ofa background to this is the beginning of a power struggle for control of these three companies and the fact that renault has had such a controlling influence over nissan for so long is not welcome, shall we say, perhaps in some parts of the japanese government and the japanese auto industry. what is so remarkable, this is what the i

mitsubishi will decide his fate this afternoon. australia stocks are set for a lower open futures indicating a decline of 7/10 of a percent. this as the prime minister is reportedly holding crisis talks after a landslide victory. the kiwi dollar is under pressure this morning, sliding after third-quarter retail sales missed all estimates. the kiwi dollar down by one third of a percent against the greenback. also we have the rba governor delivering a speech. later this morning we will get preliminary japanese manufacturer data for november. in the afternoon singapore will post numbers for october. in hong kong trade figures argue at 4:30 p.m. hong kong time. report after pushing out a deadline for its restructuring to december 11 in light of the probe launched by singapore authorities november 20. haidi: now let's get you the first word news. is hinting at a possible compromise with the eu premier as the indicates a new willingness to work. it has an resolutely defended until one -- until now. it may not be set in stone. brussels sa

he is at the helm of three major nissan, widow, and mitsubishi now.he 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. stock fell but has slightly recovered but is down more than 10% and has had a and impacts on share price. t

gray no help the sun come on a debt but on the same time they have a partnership with mitsubishi for drive line components so carlos going actually ran a debt free car company which is like totally unheard of but in the midst of all this . it doesn't make sense because nissan wasn't making the decisions on product community us carlos ghosn was it sounds to me there's some politics involved if someone was being dishonest would you just like dismiss them force them to quit why would you make a big scene and bring the police in and take them away in cuffs and try to make an immediate type of situation the only way you would do that is if there is more than me it's either he's completely dishonest and really has something much more than we been told or there's a political move here and it's a coup i believe it's a coup because the sun usa wants to run their car company here based on what they sell they don't want rayno telling them what to do but unfortunately it looks like it could impact mitsubishi which is struggling here in sales in the u.s. you have tons of great product coming out

blue a guy who runs three car companies not one but three he runs reno he's a partnership with mitsubishi and nissan here in the u.s. i think there's a lot more than meets the eye if this guy carlos ghosn who i've met many times was actually stealing money or they're saying that wasn't that they're saying that he didn't offer his proper salary he doesn't do that himself the accountants notify the salary of each executives it goes to the f.c.c. it goes to all the different stock markets so that would be on the financial institutions and this is very interesting and doesn't make a lot of sense. but i'm curious about this i mean and you know it's one thing since you do know him i met him several times but it seems really weird to me the warning that a guy would would be you know have all these links nissan renault and as you say mitsubishi and the french government i guess that maybe they were they own part of renault or something why is the french government involved here well they own their lameness you heard mix of the three car who's lauren all right well ray no me gray no help nissan co

andeen those companies mitsubishi as well.he question of the interim chairman has not been resolved. who is going to take over that role when carlos ghosn has been removed? that likely to take up position. peter o'brien has been taking a look at this important figure in this corporate scandal. peter: nissan's ceo stunned the world's press when he launched a string of fears accusations against his mentor. he appeared to be personally affected by what he called the dark side of carlos ghosn's leadership. , , iy beyond feeling sorry feel great anger and disappointment. the lesson we need to move it -- learn from the negative part of was tooloss is p power concentrated. >> he was long considered loyal to ghosn, owing his career to the powerful tycoon and having worked for him for 15 years. last year, ghosn and trusted him with running nissan, a key member of the alliance, he also board rental -- renault's until 2016. recently, it reported ghosn planned to fuse the companies, souring their relationship. with strong opposition from

we got a statement from the mitsubishi c.e.o.ow no move right now to remove carlos ghosn but they will investigate and decide. you're right about the analysts. they have widening opinions. one saying this likely was a gulf opening up between renault and nissan. it seems as though there was a widening gulf because keep in mind, renault owns 45% of nissan. nissan only owns 15% of renault with no voting rights. there was an unequal if you will, some would say, especially the japanese and nissan would ay it was an inequitable partnership. the french would probably disagree. >> you touched on this a little bit. why the political connotations here? >> well, the political connotations can get a little bit sensitive of course. this is a foreigner who took over a corporate japanese giant that was struggling and turned it around and took wide credit for that. was there as some have alluded to a palace coup by the likes of the c.e.o. who was his protege? there were clear risks developing between him and carlos ghosn especially on the issue

mitsubishi's north american ceo told us they were worried about tariffs.global news, 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm paul allen. this is bloomberg. haslinda: we will have more on the alliance later this hour when we look closer at the challenges facing the group. next, a warning from the imf. the latest note on the world economy and why it may be slowing more than expected. this is bloomberg. ♪ rishaad: sorry. haslinda: go ahead. the damaging trade war with global growth slowing more than its forecast. new data has adjusted its has weakened further. especially in emerging markets. quarter: disappointing reports have been coming across the region in asia. china has its weaker than expected performance rose across southeast asia. japan was hit by natural disasters and there were slowdowns in south korea, singapore, and hong kong as well spencer is still here. it does look like more pain for emerging markets in this part of the world? certainly, the peak of the growth

and mitsubishi is a third company as well. in excel of these decisions very complicated, and you need this -- it makes these ca positions very complicated and you need his individual in the middle. javier: kate brady -- steven beardsley, thank you very much. in france from protest continue against higher fuel price. they are mainly directed against higher taxes on diesel and petrol. hundreds of people were injured in similar actions over the weekend. reporter: fueled by indignation, these protesters near dunkirk in northern france are among the hundreds of thousands of people who took to the streets to express opposition to the government's fuel taxes to the so-called yellow vest action stopped traffic on major roads across the country. "it usually takes me 12 minutes to get to work. i have been stuck here for two hours. nonothing is happening." "i arrived here at 3:00 a.m. and got stuck. i can't move.e. we are waitingng to see where ts goes. nobody knows what is going to happen." the protesters are fed up with the tax hikes.

held everything together between the sound of the knot and even if it's this she coincidentally mitsubishi c e o c even said he couldn't find anyone else better in the wild and go on to have kept this to be all to make and it's to give the. now gone is all alone in a cell far removed from his flashy lifestyle watching on as the share prices of these companies go up in smoke they did take a very very hard hit the tumble of the love mostly in the european markets as well as the japanese markets now this obviously goes to show just how important a figure go is how critical he is to the auto industry and one and has even put it put it as him being a critical critical tool value i'm not sure when all she has suffered the first cause is that second the goes to show if one make an effect will bring the whole stock market he has quite the reputation is his reputation ruined the. not just bunch of mutation will be real bit of cause. as the japanese quotes all but to take him to task for what's happened unfortunately nissan when all and maybe even mitsubishi's reputations are also at stake. this is

stephen: nissan owns 30% of mitsubishi motors.ed out mitsubishi in 2016 after a string of scandals and profitability issues. some other news crossing the wires. ghosn hearing that carlos has told prosecutors that some of his roman numeral a should -- his renumeration has been rough -- has been deferred until after retirement. innocence,aining his according to this report, saying the payments were not definite, therefore did not need to be noted in the securities report. the same goes for former representatives director greg kelly, who is also under detention still. he maintains his innocence, giving the same explanation to prosecutors. does this move strengthen his hand in this alliance structure? stephen: it doesn't hurt. perhaps the ceo of nissan will indeed push for a revision of the alliance. nissan could try to increase its 15% stake. it also wants to increase its voting rights, while we are hearing renault is bracing for a fight. it will try to resist any altering of this alliance, as well as the french government with a con

mitsubishi must apologize and compensate the victims this banner reads and south korea's highest court agrees with at least some of the victims of forced labor from japan's wartime occupation of the korean peninsula it's ordered the kamani factual to compensate ten south koreans who had been forced to provide labor for the company but almost eighty years after the end of the war for some justice has come too late. but also very sad today. it would have been great if any one of the five deceased victims could see this result but all five of them passed away and only way their children are here to accept this verdict so it's very sound. but japan has been on the moved by the verdict tokyo has called on south korea to reverse it warning it could take quote counter measures to protect its own economic interests . well when it comes to electric cars miles per charge used to be the biggest concern for. the family with the car family car becoming an increasingly digital affair data protection is on the minds of early adopters that specially chair in china where beijing is expensive surveillan

then we heard from renault and mitsubishi motors being formed about it.aid 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. apparently there was a request from renault not to fight him just yet, but that was withdrawn last minute, and as a result the end of his career at the car company, which he really saved two decades ago, because the company was in huge debt. it was practically on the brink of bankruptcy. it is interesting this delay in acting on carlos ghosn‘s actions in the company. what will happen to him next? is currently in police custody and his detention has been extended to ten days. injapan, one can be held without charge for 23 days. they could get extended as well. we have now learnt who he will represent —— we have now learnt who will represent him. it is somebody who was a prosecutor that used to go against many people accused of financial miscondu

for cars and also emissions data and a similar case popped up in two thousand and seventeen for mitsubishi so it's a very very bad time for these brands that are already hurting to now lose this key player really in their alliance right now christine let's there from the front the stock exchange thank you so much for this. well a war of words between u.s. vice president mike pence and to china teaching paying for etan's to offset any chance of resolving the trade row between the u.s. and china any time soon and the asian economic summit in pop or new guinea pence was mocking beijing's regional ambitions while she hit out america first protectionist agenda as a result of the apec gathering ended without a final communique for the first time in its history. the seed apec stands for cooperation but in papua new guinea it appears to stand instead for confrontation it may be smiles all around but accusations have been flying between china and the us regarding their ongoing trade dispute on full display here at apec the host remained diplomatic so very fruitful discussions. exchange a very frank

as head of the alliance between nissan, mitsubishi and renault, he was one of the world's most powerful business leaders, until his arrest injapan on monday over allegations of financial misconduct. he is suspected of under—reporting how much he was being paid, to the tune of more than $40 million, and misusing company funds. in the next hour, the board of nissan are expected to remove him as chairman. his arrest has seen the share prices of nissan and mitsubishi fall sharply on the tokyo stock exchange. it has been the same story for renault‘s shares in paris, although the french company says it wants to see evidence before deciding whether to oust him from his role there. mr ghosn‘s removal from nissan would bring to an end more than 18 years in charge. he is widely credited with turning the company around. but nissan's japanese ceo this week described it as a regime, underlining tensions with the company's local management. that is partly because of this. renault, whose biggest shareholder is the french government, controls nissan, with a 43% stake. in return nissan, a far bigger com

regardless of the rest it is important that the current nissan reno mitsubishi alliance maintain a stable relationship. but first the board of nissan must decide what to do about gone whatever the board determines on thursday there's no way out of the turbulence that's had a top player in the automotive industry. bank of england governor mark carney gave his backing on tuesday terry bradshaw the deal struck by british prime minister theresa may and european union officials it would help smooth the country's departure from the block mr carney said lawmakers in the. heads over prime minister may's draft agreement with or without of the old the date of separation is drawing closer and. how that will impact the. coventry in the heart of england home to students and researchers from across the european union many of them originally came to the u.k. through the e.u. a rasmussen program but with briggs it looming exchange programs like these could be a thing of the past for british students the country's future outside the e.u. has also been the subject of heated debate here in berlin where many

mitsubishi has not made a decision yet on whether to oust ghosn as chairman of mitsubishi.san owns 34% of mitsubishi motors. i hope you are keeping track at home. it is convoluted. the chief cabinet secretary saying the alliance is important. that is the one key takeaway come all parties seem to agree the alliance which carlos ghosn was the glue to all agree the alliance is important for renault. what would they be profit wise without nissan? and for nissan, it needs the global partnership with renault and mitsubishi to fend off the competition globally, as well as the tech companies coming into the automobile industry. yvonne: what would this mean for japan? are they going to make this case an example for corporate governance? do you think they will punish ghosn? and does he deserve that punishment? yeah, it looks as though he could be, dare i say, the renewedial lamb for efforts in japan to have greater transparency and better corporate governance. there could be backlash. the guests we have talked to this morning suggests there is a backlash against the ceo situation, wh

welcome back to italy in a second because the clock has finally run out for embattled mitsubishi chairman collins gold the mitsubishi board of directors has voted this morning to sack the manager who was arrested last week go on has come on the file the accusations here on the with both of his salary to japanese authorities by forty four million dollars over several years he was arrested but has yet to be formally charged denied. last week and so she poppin this house to go on its chairman is and holds a controlling stake in its of the she joins. let's go back to so goannas dawn will this launch a rethink in the car industry is the time of that the big towering figures over. i think the memory capacity is too short for that the business world in other walks of life you see a similar development one doesn't seem to learn from. it's of the past and i can't see into the future but i think that one will see these kinds of larger than life towering figures time and time again one reason of course is that people like carlos gone or hydration auto for volkswagen to talk over volkswagen right aft

now a big player in japan the chairman of the alliance of nissan renault and mitsubishi motors carlos ghosn has been arrested on suspicion of underreporting is in calm and engaging in what the company called other significant misconduct speaking earlier this afternoon nissan c.e.o. said he had called a board meeting for thursday to approve dismissal as chairman of the company on suspicion of understating his salary in japan by forty four million dollars over five years starting in two thousand and eleven for. well before now carlos ghosn was seen as a star car manager credited with leading a dramatic turnaround it needs on over the last two decades rescuing it from near bankruptcy. carlos ghosn is regarded as one of the most dazzling manages in the automotive business after all he has the partnership of redeye mitsubishi on nissan and his belt. but he's been under investigation for months now . the japanese carmaker says an internal investigation shows guy underreported his income for several years. goan is also said to have used company money privately nissan's board of directors now

will happen to the compa ny‘s question remains, what will happen to the company's alliance with mitsubishithe bbc‘s business editor has all of the details. carlos ghosn is, or was, one of the world ‘s most powerful business leaders, as well as his former role as chairman of nissan, he is chief executive of renault, chairman of sedition motors and chairman of an alliance of all three that collectively made 10 million cars last year. so far, renault have not dismissed him, installing and other executive on an interim basis, while mitsubishi motors bought are considering their position. the future of the whole alliance has been questioned after a downfall of its main architect and behind his personal drama liza power play within that group. is no secret that senior at nissan felt that grew three and renault, which owns a 43% sta ke three and renault, which owns a 43% stake in their company, were exerting too much control over a group of which nissan was selling the most cars. the removal of him face is the way for resetting the structure and leadership of an alliance that all parties seem to

for a design inspiration where mitsubishi is going in the future.e load of technologies this vehicle has which would be a part of our future when the alliance platforms really kicking big products starch showing up in united states. that's in a two to three year time span. we are excited about what consumers are going to have. it's a different product that we bring forward that will have an electrification platform as part of that area -- that. yous the u.s. a place for want to add manufacturing capacity? >> what we need to do is get to a point where any one of our products we bring to market, particularly with the alliance a point, once we get to were we are manufacturing 100,000 units of any particular product, the business case becomes robust. a positive reason why we would bring manufacturing back to the united states. >> how important are subsidies at the moment? this is something being fired at gm as part of electric subsidies. it is something you depend on? it's not something we depend on but it's something the consumers depend on. the kohl's

holding 15% of renault, but also the more recent acquisition for nissan is it holds a 34% stake in mitsubishidden 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,

part and this one i was to go on as a chat is on hold trolling stake in mitsubishi motors. back to our top story which is of course of course breaks it and we can all talk to the mountain she's with the broad goals that you think tank and joins us now from brussels. as we heard in our earlier report one hundred billion yen damage to the british economy do you think that is realistic. well it's a bit ties if you compare it to the numbers that we have seen prior to the referendum there was a range of studies of was done by then in which the current number would compare on the other side of that of course now we have a lot more information a lot more detail in terms of what breaks it would and tail and therefore perhaps is not quite so surprising that the numbers are as high as they are and you think the constant are you what we're looking at there what the leaders have signed off on is that the best possible case for the british economy overall is not the best case for the british economy the best case would be for the u.k. to stay in the u. that would be the best case howeve

the clock is ticking for embattled mitsubishi chairman collins goan in just over an hour's time the board of mitsubishi is said to sack going to have an emergency meeting going has been under fire over accusations he under-reported his salary to japanese authorities by forty four million dollars over several years and was arrested but has guests to be formally charged golan has denied all allegations last week mitsubishi problem isn't gone as chairman isn't holzer controlling thirty four percent stake in the division which means. in many countries across africa infant mortality is dropping that's good news but the battle against that often involves expensive western made medical devices now scientists in uganda created his own device to help save newborns with medical complications at a reasonable price for local hospitals is high tech incubator is still in trial but it's already showing promising results. so i don't want to see easy happy mother. one of her newborn twins is out of danger after having complications during delivery. and then double to run around i might babies were distres

of events for this but stay on the line please because when talked to about the embattled mitsubishi chairman calos go the mitsubishi board of directors as voted to sack the manager who was arrested last week go and come on to file back as asians under reported decelerates japanese authorities by forty four million dollars over several years he was arrested but has yet to be formally charged goan has denied all allegations last week mitsubishi potman this on to go on as the chairman is and holds a controlling stake in its a b. she has. well you'd think that there would be a rethink on figures like own other figures who were towering and who did a lot of damage to the companies like fed and ph in this culture that led to diesel gate. but at the same time you have to consider that take these two figures they came to their jobs in a time of crisis for the companies they both turned the situation around they created a value for shareholders in the end they saved thousands of jobs and that's the way they became legendary figures and to turn around a huge company. like that you need the au

as well as his former role as leader of nissan, the chairman of renault, mitsubishi motors, and chairmanee 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 alliance that all parties seem to agree is too important to see boulevard. it may yet to be the last legacy for a fall in business giant who remains in custody. simonjack, in business giant who remains in custody. simon jack, bbc in business giant who remains in custody. simonjack, bbc news. the government in zimbabwe has outlined plans to compensate white far

mitsubishi motors are considering their position.iance has been questioned after the downfall of its main architect. behind carlos ghosn‘s personal drama lies a powerplay within a group. it is no secret that senior executives at nissan felt that carlos ghosn and renault, which owns a 43% stake in the company, were exerting too much control over a group of which nissan was so control over a group of which nissan was so do most cars. the removal of carlos ghosn allowed a restructure ofan carlos ghosn allowed a restructure of an alliance that is too important, many feel, dizzy fall apart. it may prove to be the most lasting legacy for a fall in business giant who remains in custody. let's get the latest on that story — mariko 0i has been following this in our singapore studio. what do you make of all of this? he has now hired a top shot lawyer. what do you make of all of this? he has now hired a top shot lawyerm is very interesting that yesterday we found out who he is going to be represented by as a lawyer. he is their next prosecutor

well, the board of mitsubishi motors has voted to move carlos ghosn as chair he was arrested last weeklegations of financial misconduct nissan's board ousted the executive last week although he remains at the helm of renault executives from the alliance will meet later this week to discuss next steps amid rising tensions over renault's role in the alliance a story you've been watching closely. >> absolutely. one that remains in focus this week aston martin expects to double the number of luxury vehicles it manufactures by 2025 ceo andy palmer said the car maker is not seeing a slowdown in key markets despite over slowing chinese demand and the impact of brexit according to palmer, the company has seen year-to-date turnover grow by 185% in the u.s. and 118% in china. >>> moving on to some other corporate news logitech has dropped a bit to buy plantronics. reports say plantronics which makes blue tooth earpieces and gaming head sets was looking to sell itself for more than $3 billion. the deal would have been logitech's largest ever acquisition. talks hit a snag over price disagreements.

the board of mitsubishi motors will meet on monday to oust ghosn as chairman.ations against him. sharanjit leyl is in singapore. bring us up to date. that is right. everything you said in fact the board was scheduled to start meeting about an hour ago and expectations are that just like the about an hour ago and expectations are thatjust like the alliance partner nissan motor, they will look to re m ove partner nissan motor, they will look to remove carlos ghosn from his role as after his arrest or alleged financial misconduct. he continues to deny those charges. a removal of ghosn will cnn and to his chairmanship of japanese auto—makers. —— will see an end. the japanese auto—maker was rescued from ba n kru ptcy japanese auto—maker was rescued from bankruptcy and the alliance included mitsubishi with controlled costs. there is a query of the future of that partnership between the three. they are bound together by cross shareholdings that could potentially be complicated to pick. thank you very much indeed. let's stay in asia. trading cautious in the midst of a

mitsubishi motors also off the board as chairman, colors ghosn.ss the board, a few gains taking place. we have the yen pretty much study. ♪ let's take you back to live pictures out in biloxi, mississippi, where president trump stopped in to speak. >> african-american poverty as at an all-time low. [cheering] remember what i used to say. what the hell the you have to lose? right? well, we produced. and we will continue to produce. republican passed a massive tax cut for mississippi families. we eliminated a record number of job killing regulations. and america is now the number one producer of energy on the planet earth. [cheering] and that took place pretty quickly. didn't it? we are taking care of our veterans. and our military wilson be more powerful than it has ever been before. [cheering] and because of that incredible power, hopefully, we will never have to use it, right? but to protect these amazing achievements, mississippi must defend our senate republican majority. we had a fantastic evening and day very recently, the midterms. we got ver

and the chairman of nisson rhino and mitsubishi. his alliance has been arrested carlos bone is accused of grossly understating his salary and also what the company is calling significant misconduct. more than a million children in iraq need psychological support according to unicef survey amazing of iraqi officials and unicef in baghdad discussed the range of problems facing young people in the country they found eighty percent of iraqi children experience violence at home or in school exposure to contaminated drinking water among high youth population was also discussed there is. a significant problem with access to potable water and this has not come effect on health. and one of the more significant issues is the adolescent population. is the largest percentage wise in the region and is set to keep on growing for the future so unless we address some of the significant problems with health and education. water issues and so on. this is going to be reflected in the population in general in iraq for the future. the battle against mal

serious enough to dismiss zammit most were gone isn't just the chairman of this and but also of mitsubishi motors another japanese motor company as well as the chief executive or french carmaker rhino now the french state is a shareholder in rondo and earlier the french president reacted to the news. we will be extremely vigilant about the stability of the alliance and the renault group and also as regards to belittle for employees to whom i want to say that the state as a shareholder is ensuring that all of its support will france's finance minister says members of the french government will meet renault representatives in the coming days if carlos corn is sacked from this and it would be a huge blow to his career to his reputation he is someone who's been at the top of his industry for more than two decades tim howard is assistant professor of management in the mendoza college of business at the university of notre dame in indiana he joins us via skype now from there to talk more about this thanks very much for being with us so what sort of questions does this now raise for not only near