renault are tasked with try to soothe relations between renault and nissan. lls more cars. yes, i think it has been difficult in the way the ownership has been set up. they bring different models to the partnership and geographic exposure. that's been behind the success with the alliance. it is difficult but they also now they need to keep going. there is talk of the alliance becoming a merger. where is the truth lie? we think this company is going to go next? we believe the alliance, if they can keep it together, should stay together because of the success they've had in keeping the business going. if anything, with the challenges facing the industry, particularly this year, it would help to have the alliance. we are going to see more partnerships of anything industry. if they can keep it together, that would be stronger than them. i want to ask about that because now seems the time the car companies to look at alliances and allegiances. times are tough out there. talking through what the car industry is going through. absolutely, you have a lot of uncertaint

of course, the second major priority is to ensure that the link mixed —— link between nissan, renaultng and will go forward positively in the future. our reporter in london has details of how nissan and renault plan to move forward after the exit of the once powerful leader. carlos ghosn was one of the most powerful executives in the car industry. the downfall has been rapid. he was already dismissed as the chairman of nissan and mitsubishi, now he has been dismissed from renault was well. is languishing injail waiting dismissed from renault was well. is languishing in jail waiting for trial and could be in custody for months. renault have decided they will no longer go for the sort of super chief executive body by mr ghosn. the new chief executive is a renault insider, the former chief operating officer and the chief executive on an interim basis in recent months. he will be joined by a pillar of the french business establishment who has worked at other major companies and is currently the chief executive at michelin. is perfect, particularly as far as the french government is concer

the world's largest auto alliance, of which he's head — a global carmaking group which includes renault, nissanbishi. mariko oi is following the story from singapore: the investigation has strained the world's largest auto alliance, of which he's head — a global carmaking group which includes renault, nissan and mitsubishi. mariko oi is following the story from singapore. everybody was desperate to see, get a glimpse of carlos ghosn. we've not seen him, have we, since he was arrested in november? that's right, no camera was allowed inside the courtroom but we got the drawing of carlos ghosn from sketch artists inside according to reporters who we re inside according to reporters who were there. he was looking thinner, he had a rope around his waist and was wearing plastic slippers, his prison are tired that he defended himself vigorously as we were expecting. he denied all the charges. i was particularly interested about those serious allegations. he said he always wa nted allegations. he said he always wanted to be paid in us dollars but he couldn't. he was only allowed to be paid in japanese

the issue is that the current set up between nissan and renault is odd. n's voting shares and yet the two companies are described as an alliance or a partnership. renault does not control nissan even though the capital structure is exactly that. that has held together for 20 years at by carlos ghosn. and now that he is in custody the companies know they will have to come up with am sort of more formal structure to keep the alliance together. the question is what will that be? you will know that nissan and renault have very different views of what that structure should be. thank you very much. facebook says it will work with the german government to help tackle fake news in the run up to elections for the european parliament later this year. the social media network's head of operations sheryl sandberg told a technology conference that it would also spend $7.5 million on research into the ethics of artificial intelligence. the company has been under worldwide pressure over fake content and the privacy of users' data. the troubled uk coffee shop and cake cha

nissan a financial ‘s conduct, which he denies. now, the french state owns 1596 denies. now, the french state owns 15% of renaultther confusingly in turn owns a bit of renault. the french economy minister, bruno le maire, was asked whether this indeed was the case, did the french state what a merger between renault and nissan? he dismissed such talk, he said it was not on the table, which is not entirely an outright denial. nissan has removed carlos ghosn as its head, and renault is considering doing the same. so who should replace carlos ghosn? well, the french economy minister, bruno le maire, was asked this question. various names have been floating around in france, including the name of the chief executive of michelin tyres. now, bruno le maire was asked whether he backed him for thejob. he said it wasn‘t up to him, it is up he said it wasn‘t up to him, it is up to the board, but of course the french state as a shareholder would have their say. and then he proceeded to lavish praise on the chief executive of michelin tyres, so chief executive of michelin tyres, so it seems quite clear who the french state m

bail applications going has been jailed for two months the widely celebrated architect of the renault nissan alliance is accused of underreporting his salary among other charges nissan has removed him as chairman renault is expected to meet later this week to replace him as its chairman and c.e.o. . staying in the auto world legendary rivals b.m.w. and diane lerner will join forces to develop self driving cars that's according to to the german financial daily hundreds blood the aim is to split development costs and establish an industrial standard for autonomous driving both car makers fear that tech giant google is going to dominate the market with its automated operating system that's according to the paper this new competition from silicon valley threatens of rivalry that turn both brands into global market leaders. four times a week a jetliner from iran's mohan air flies into germany no longer starting today berlin says iran uses the airline to transport military personnel and equipment to war zones in the middle east the u.s. has welcomed the move. the united states has imposed sanction

renault owns a certain percentage of nissan, nissan owns a smaller percentage of renault, there isa smallerack of balance. there is in balance, renault is the smaller company. that's what it wants to address. but at the same time you have the french and renault wanting to ta ke have the french and renault wanting to take over, to merge and take full advantage of the scale of economies that they can in a time in the car industry from everyone is investing heavily and looking to electrification and all sorts of other things that need investment and they don't want to risk anything that would stop up. the synergy is obvious between these companies in terms of what the produce of the ca i’s terms of what the produce of the cars they produce. you would think it would make sense and an chilly but the companies to merge. especially given the lack of demand right now in the global car industry. absolutely, they are under pressure from all sides and the one thing they need to do is grow scale and work together. they have product plans that will be laid over 10—15 yea rs plans that will be laid over

we tend to look at individual companies like volkswagen or like renault but when you look at renault nissan which edition they've come up from the grave practically they've been restored by carlos go on and they are selling more cars per year than volkswagen so that's what's at stake and that's why people some people here say because that's at stake because there was a power play going on between france and japan and carlos goannas sort of caught in the middle and a lot of people don't really believe he's as guilty as the courts make him. as far as the preferred stock exchange thank you very much. reporter michael penn was at the press conference held by guns lawyers following the court proceedings i asked him if there was anything fishy about the case i think that least among the no one journalists who've been covering this all of our sort of alarm bells are going off in our heads because this doesn't there's something about this case doesn't seem right it's not the way the total corporates case is and you can normally handle so for example in a company find some sort of wrongdoing by the

japane and english-language platforms, he acknowledged a plan had been in the works do integrate renault, nissanmitsubishi into one holdout -- holding company but did not play some nissan connected -- executives. he said the plans had been discussed with the nissan prpresident. the franco brazilian lebanese auto tycoon fought back against accusations that during his 19 years at the helm of nissan he acted like a dictator. he said people translated strong leadership to dictator. interview, the spokesman for nissan refuted the claims and said he nissan president had categorically refused the notion. the detention, he said there were ups and downs and said he is innocent. financial transactions were signed up with nissan and he said he is not a flight risk. he will defend himself. no longer chairman of the rumumorshe created, spspeculate about the future of the alliance as he awaits trial. bars,s, remains behind to managemement are said to meet in amsterdam on thursday to discuss a way forward. thehe european cocommission sas business climate in the regigion has s dropped shsharply this mo. indicat

french carmaker renault has resigned qantas cohen has been detained in japan since his arrest from suspicion of financial misconduct in november a sixty four year old was removed from nissan's board almost immediately but they have been question since over the future of the twenty year old renault and nissan mrs alliance those on the headlines people in power is next. in afghanistan billions of dollars in international aid have been donated to girls' education but where has the money gone when east meets girls desperate to learn and asks why is the system failing them on al-jazeera. hundreds of thousands of migrants have arrived in italy over the past four years gaining sanctuary from violence and poverty but prompting an interesting new tough response from the state others have been more welcoming those seeking to profit from the migrants misfortune we've been to investigate i would say the system of privately run reception centers as full and wide open to exploitation corruption and organized crime.

more legal troubles for the boss of carmaker renault japanese prosecutors filing new charges against carlos ghosn related to his time at nissan renault meanwhile says it hasn't found any signs of wrongdoing. also on the show germany's powerful industrial lobby says europe needs to take a harder line when it comes to trade with china. and the u.s. government employees take to the streets of washington as a partial government shutdown starts to bite. i'm stephen burns in berlin thanks for joining us japanese prosecutors have filed two new charges against former nissan chairman carlos gone they're now accusing him of aggravated breach of trust the new filing comes days after go and made his first appearance in a tokyo court on the original charges of financial his conduct and go on is the architect of reno's alliance with nissan and many see him as the glue keeping it together the french carmaker says it has no evidence of fraud on the part of go and go and has denied the charges linked to nissan and those lawyers say they will seek bail following the latest allegations. and let's dive a little deeper into this case michael pin

and english language platfororms go need knowledge a plan had been in the works to integrate renault nissan and mitsubishi. under one holding company but that such like it is leading them to cooperarate with tokyo prosecutors. ghosn said the plans it also been discussed with nissan's president roh to psychoho o. the franco brazilian lebanese auto tycoon also fought back against accusations that during his nineteen years at the helm of nissan he acted like a dictator. he said quote people translated strong leadership to dictator to distort reality for the purpose of getting rid of me. following the interview nissan spokesman refuted the claims of a coup. sittining that nissan's presesident had already categorically refuted that notion. of his attention goans said there were ups and downs sunni reiterated that he's innocent and financial transactions were signed off within the song. as he did in court he also said he's not a flight risk vowing he would defend himself. no longer chairman of the alliance he spearheaded and created going refused to speculate about the future of that alliance as

japanese prosecutors filing two new charges against the former nissan chairman and head of the renault nissan alliance they're accusing goanna of breach of trust and falsifying financial reporting the announcement comes two days after go and made his first appearance in its hokey o. court for legit financial misconduct in japan the going was responsible for a nose alliance with nissan french car maker says it has no evidence of fraud on the part of gone and gone has denied the charges link to nissan his lawyers said they will seek bail following the newest allegations. asian markets are up today on efforts to resolve the u.s. trying to china trade dispute western nations meanwhile are hoping a resolution could lead to easier access to that lucrative chinese consumer market something that has remained frustratingly out of reach for many businesses and germany's influential v.d.i. industry association has now called on the european union to adopt a tougher policy towards china on just this issue. chinese market has long been a gold mine for many german companies with carmakers like audi and mer

chairman of renault leaves them with really no choice if they want to have the continuity of management and have a tea m continuity of management and have a team that can work with the team at nissannvestigation found no wrongdoing, or will they admit they found he committed a crime and abused his power? the key is that there doesn't appear to be anything suspicious in renault itself but the ceo says he feels comfortable that once renault sees the evidence they have collected internally at nissan, that they will appreciate the wrongdoing that has been taking place within nissan. of course the question now is why carlos ghosn is still injail, he hasn't been convicted, nor accused of violent crimes. other executives from ja ka rta crimes. other executives from jakarta and toshiba spent time in jail. what appears to be happening is that if you make some kind of confession then you might be allowed out pending trial —— takata. in this case i believe there is concern because he is maintaining his innocence that he could if he were out ofjail innocence that he could if he were out of jail tamper with the evidence. that is an extreme view when we look at it from a western perspective, bu

we tend to look at individual companies like volkswagen or like renault but when you look at renault nissan which a bishop they've come up from the grave practically they've been restored by carlos go on and they are selling more cars per year than volkswagen so that's what's at stake and that's why people some people here say because that's at stake because it was a power play going on between france and japan and carlos goannas sort of caught in the middle and a lot of people don't really believe he's as guilty as the courts make him believe as far as the preferred stock exchange thank you very much. samsung delivered grim earnings figures on shoes day as it looked a big drop in profits they were down by nearly one third in the last quarter it's the first profit drop in two years south koreans profit make the is now facing tough chinese competition while demand for its components has softened trade tensions between the u.s. and china samsung also warns that business this for one live up to its earlier projections. samsung has mungo's companies strutting their stuff at the consumer electro

a hotel analyzing the comic is international alliance so how will that -- alliance between at renault nissan and mitsubishi is there now that the man who brought those companies together is no longer in the driver's seat. ththe moment had mostly optimism about the new chairman john to mix and and c. e. o. chevy bottle by. pressing for stephen carroll sat down with the french finance minister bring on the matter into office. which is up to the new violence to think about the odds and to take the appropriate decisions about the way i was going with legal and i'm confident. and i think that. through that's new governance of the one there will be a strength in this task of the new chairman of one who will be to reinforce the iranians because this is in the interests of bowls. false and japan to have that strengthening of the iranians. let's check in on the day's trading action now oil prices were rocky is the instability in venezuelala could impact supply less supply on the market tends to lead to o higher prices. the gains were limited ththgh after the us announced a surprise increaease in its

been under arrest for nearly two months when allegations of financial misconduct as head of the renault nissan for making allnce. the pacific gas and electric companies planning to file for bankruptcy in the u. s.. utility group says it has struggled to cope with the unexpected cost of lawsuits linked to last year's deadly wildfire in california. is facing more than seven billion dollars in claims foits rolen starti that plays. its shares of crash 250% on monday they'velready wiped out 80% of their value in the past three months. and paul comes trial continues in california us authorities accuse the software maker of ant competitive practices to ensure that its chip were needed and used in most smartphones. welcome that it denied the charges against it. on monday top apple executive took to the stand saying the tech giant wanted to use parts by both qualcomm and rival intel its latest models. welcome would not supply them under those conditions. airports in miami and houston have been forced to close security check points as the u. s. government shutdown drags on employees of the transport sec

become chairman and take charge of running the alliance, a global carmaking group comprised of renault, nissanairbus over brexit, as tom enders warns that the company could move wing—building out of the uk in the future if there is a no—deal brexit. give us our people back — that's the message from poland's prime minister says he wants to see more workers return from the uk to help its domestic economy grow. speaking at the world economic forum in davos, mateusz morawiecki said there was a low level of unemployment in poland and 5.5% growth in the economy. we talk a lot about how tough it is on the high street at the moment, and numbers are out today showing the effect on jobs. the number of employees?in britain's retail sector was down 2.2% in the three months to december. that is equivalent to 70,000 jobs. it's been seen as another sign of the problems experienced by brick—and—mortar stores as people increasingly do their shopping online. rachel lund, director of research at the british retail consoritium, is with us live. do we expect this decline to continue over this year? yes, we do. for

board almost immediately but there are still questions over the future of the twenty year old and renault nissan mitsubishi alliance go on denies the allegations against him when all is board is meeting this essay to name his replacement in indonesia former jakarta governor best sokol jaya or nama also known as a hawk has been released to seven two years in prison on blasphemy charges in twenty sixteen the first ethnic chinese and christian governor of the capital made comments about a verse in the koran which led to massive protests so vast and has this report. handful of supporters celebrating the former governess release in the latter. poor mamma had asked people not to come to the prison to greet him instead to quietly laugh together with his son who posted this on his answer account. someone i have no words to describe how happy i am two years he was here in prison two years for something you strongly believe he was falsely accused. better known as a hawk was a popular governor because of his efforts to clean up just kept us corrupt bureaucracy and improve infrastructure but after of video

what does it mean for the renault and nissan alliance? stephen: troubles are not over. history of renault and whitney nissan and mitsubishi having new theership, a chance to turn page on carlos ghosn. there are still significant challenges ahead. confidenceo restore at the company at a time of severe disruption in the auto industry. they need to improve corporate governance across the board, especially at nissan. his the new -- the new chairman is the ceo of michelin he will be given full responsibility for managing the alliance. ceoceo was named interim and carlos ghosn was arrested in japan back in november. he will now be the full-time ceo. finance minister speaking exclusively to ,loomberg television in davos he said the first priority is to consolidate the lines between renault and nissan. all three car companies have said the alliance is important, even though there are differences on the share structure of that alliance. that is something to be taken up at a later time. chief challenges are bridging the cultural gaps that widened under carlos ghosn between renault

and also making these big strategic positions and renault and nissan is in a situation where they don'tbe driving that strategy. what about regs it? just throw that the mix. any car maker that has significant presence in the uk, building cars in the uk, etc, they are having to think about what is happening in a very short term. it isa is happening in a very short term. it is a big issue. the data shows investment over the last 18 months 01’ so investment over the last 18 months or so has tailed off from where it was because there is so much uncertainty around it. i would say in europe it is not the only issue. there is also uncertainty around us, eu trade relationship as well. certainly, regs it is front and foremost in most people's mind. will we see all these companies become leaner and meaner, but we are looking at lots of jobs leaner and meaner, but we are looking at lots ofjobs going in the near term? it is a big side effect, yes. they do have two do some restructuring because if you believe a lot of the thought in the next couple of decades, people won't be buying as many cars, th

debacle initially unfolded, that nissan wanted to end this relationship and getting rid of ghosn was part of that. the carmaking alliances simply too important, both to renaultjust let it dissolve and let it decay in any way. they are taking steps to write the ship and move forward. shery: thank you so much for that. dave mccombs. let's turn to u.s. earnings. it was a very good day for financials. goldman sachs and bank of america beat estimates in a big way. index rallied to its highest level in five weeks. ramy inocencio is at the wall to take a look at what the big drivers were behind the bonanza reaction we had in wall street banks this week. ramy: in particular today because citibank fell after they did their earnings. in negative territory only to be higher on the markets. here, definitive optimism when it comes to goldman sachs as well as bank of america. walking you through the big number that you want to know, the actual eps came in at 483. -- $4.83. up 9.5%. the last time this actually happened was 10 years ago. in march of 2009. a lot of the things we have been talking about this week have been some of the biggest drivers. equity trading was one o

carlos ghosn said some in nissan opposed his plans to integrate renault, the french firm he headed with and mitsubishi. he has reiterated he is innocent of financial misconduct charges levelled against him. rupert wingfield hayes has the details. from japan's nikkei newspaper he was given 20 minutes to talk to them and during this he has made some pretty serious allegations. first of all we learn from mr ghosn that last year he was planning to further integration of nissan here injapan with his parent company, renault in france. he says he discussed those plans with the ceo of nissan in september last year. that is just two months before he was arrested at tokyo airport. and then he makes a very serious accusation. he says it essentially the case against him is political, and he uses pretty strong language, accusing fellow nissan executives of plotting and of treason. and the reason for it, he says, was to try and undo that further integration that he was planning. 0n the specific charges that have now been laid against him by tokyo prosecutors, he says all the financial dealings he had

renault has stood by carlos , even though he was forced out as the chairman of nissan and mitsubishi . holding onto the chairman and ceo titles at renault. officials concluded compensation to his executive committee in 2017 and 2018 was free from fraud. the french government and renault has stood by him. they have cited the presumption of innocence for keeping him on. one newspaper is reporting the carlos ghosn is considering retiring. that he will nhk step down from his top post. thursday,is meeting likely to vote on recommendations coming from a special committee set up to determine the fate going forward of the topic second of positions. we are hearing the board has been recommended to name the chief operating officer, made when carlos ghosn was arrested, he would become permanent ceo. the chairman position would likely go to the ceo of the michelin tire company. he has been ceo since 2012. he would be the first ceo not coming from the michelin family. as towould be continuity automobile company taking over. it would still be disruptive. all the latest out of nissan, renault, and c

become chairman and take charge of running the alliance, a global carmaking group comprised of renault, nissanmilies had to borrow or use up savings to fund their spending and investments. transport was the biggest weekly spend, averaging 1a% of the total. just reading from our northern ireland correspondent, bombardier has called for an orderly brexit. it has called for an orderly brexit. it has a number of sites around belfast. continued uncertainty and the prospect of leaving with no deal does not help with business planning. that comes hot on the heels of what is a very strong statement from airbus. yes, quite a measured statement compared to tom enders. he said it was a disgrace businesses cannot plan for brexit and the company will have to make potentially very harmful decisions for the uk in the event of a no deal. around 1a,000 people right across the uk. 6000 jobs at its factory in wales and 3000 in bristol. tom enders all said don't listen to brexiteers' magnus that because we have huge plants here we will not move and we will a lwa ys here we will not move and we will always be here

renault on is 42% of nissan's voting shares and yet it is called a partnership.ip that it is described as a partnership of the partnership was, if you like, put together and run for pretty much 20 years i carlos dawn. he's sitting in a detention cell, there is a lot of fallout, there is a lot of distrust between the companies because the french side is furry unhappy about the way nissan has handled this, nissan wants a readjustment of the relationship because they feel it been unfairly treated by renault as the dominant partner. something has to change but the question is how. what we think is that france and the french government and renault would like to see a full merger essentially under french control, nissan would like to see a rebalancing nissan would like to see a re balancing where both nissan would like to see a rebalancing where both companies are equal in the partnership. rupert in tokyo, thank you. let me show you what's happening with the numbers. china coping with expectations that the government will pump in more money to the economy. shanghai mar

we tend to look at individual companies like volkswagen or like renault but when you look at renault nissan which a bishop they've come up from the grave practically they've been restored by carlos gone and they are selling more cars per year than volkswagen so that's what's at stake and that's why people some people here say because that's at stake because there was a power play going on between france and japan and carlos goannas sort of caught in the middle and a lot of people don't really believe he's as guilty as the courts make. of the preferred stock exchange thank you very much. reporter michael paine was at the press conference held by guns lawyers following the court proceedings i asked him if there is anything fishy about the case i think. among the no one journalists who've been covering this all or sort of a lot of bells are going off her head because there's something about this case doesn't seem right it's not the way that corporate cases and you can normally handle so for example if a company finds some sort of wrongdoing by a chairman or an executive normally the way this w

nissan has a 15% nonvoting stake in renault which in turn holds 43% of its japanese burner.y, on air and at tictoc on twitter, -- japanese partner. global news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. thank you. time to see how the asian markets are shaping up. let's get over to sophie kama .2% , set for a fifth day higher but the korean won is under pressure as investorsonsider the drop of imports and exports in the first days of january. let's check in on those movers. mahindra. they say the korean stock would be moving on a report that hyundai motor will ramp up in india's ev industry. is working on second summit with kim jong-un expected likel. what does each sign up to get out of thi meeting was were after the mid-first meeting, what did we get after that? it is unclear what each side hopes to gain or what their agenda is we haven't heard that. president trump sent out that treats he was excited to meet leader kim and talk about what see these -- wh

the front page of the japan times looks at the possibility of a merger between renault and nissan.issan is believed to want to reduce the influence of their french partner. and singapore might be known for sun rather then snow but they're apparently taking a closer look at the arctic. that's according to the straits times. shipping lanes and climate change are two issues both places share, despite the distance. now, babita, what stories are sparking discussions online? well, sharanjit — take a look a this tweet that has prompted a fiery response. british mum hannah summers revealed that her four—year—old daughter esme wished she were a boy so she could be a firefighter. when hannah said girls can be firefighters too but her daugther replied that "in books they are all boys and i don't want to be the only girl". hannah put it on twitter asking what to do and then inundated with replies. women crews from all over the world then posted a string of pictures and videos on social media to prove they exist. later esme‘s mum tweeted that after the messages her daughter now "firmly believes

nissan has a voting stake in renault, which in return has stake in its japanese partner.news 24 hours a day, on air and at tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. ramy: let's get to sophie kamaruddin with another check of the markets. see green could across the screen. we have stocks in new chief -- , a zealand batting .2% fourth day of gains and looking like positive start for aussie shares as well. looking for reaction to a trade agreement with the u.k. that will wrap up, brexit trade and sectors covered by the deal worth $2.6 billion. a separate deal with hashed out on australia's work -- wine exports. let's look at all the bond that opened lower, optimism on trade with china offering to buy more u.s. imports over the next six years. when it comes to stocks, we are keeping an eye on sand fire saying it is exploring a takeover bid of a junior copper producer. sinceher stocks, watching metals, roughly 12% drop in the first half underlining and underlying earnings for tax. and we

what do you make of the future of the nissan, renault, mitsubishi alliance?ble, this is the first public appearance in almost two months. the first time we've been able to hear his defense for what has gone on. and he says he's been wrongly accused and unfairly detained. so any hopes that he would plead guilty to prosecutors in jail and get out, kind of go away quiet etly are evaporating and he seems to be digging in for a fight, giving fuel to comments made by his family previously that this is essentially a coupe attempt by the nissan executives. lauren: it's interesting here. mr. ghosn turned around nissan and renault, really remarkable progress in the auto industry. can he turn around his own fortune at this point? because i was looking up some numbers, tim and japan has a 99% conviction rate. how is mr. ghosn going to fight this? he could face a decade in jail. >> reporter: right. oftentimes with these cases executives plead guilty or -- to get out of jail and they leave the country. what's remarkable with his appearance before the court was oftentimes p

let's talk about the japan times story, nissan and renault. an agreement with each other, and the interesting thing is that nissan was widely seen as wanting to step back from the agreement between the two, but now it looks like there could be talk of a merger. the automated sector is huge injapan. it is hugely competitive at the best of times and, as is featured on this programme a lot, it is going through massive change. it will be focused on big shifts in demand and products, et cetera, for a long period of time yet. i hate to bring it back to brexit, but frankly, anybody who underestimate the value and the worth of nissan in the north—east and around sunderland, they don't really understand the british economy. the nissan plant up there and the jobs, that is notjust a sign of the economy and the growth and the strength of exports in this country, but actually, fundamentally, it sits with the ethos of the place and the recovery post 1980s. you have to say that the french involvement, more so than the company, it might put questions forward

top executives from nissan and renault that for the first time since carlos ghosn was forced out. t the dutch holding company that oversees their alliance. ghosn is facing financial charges in japan and says he was toppled by nissan leaders trying to avoid integration with renault. three european nations launched a special vehicle to help companies trade with iran, in defiance of president trump. germany, france, and the u.k. says it acts as a buffer preventing direct financial interaction and therefore sidestepping u.s. restrictions. president trump has warned consequences for firms working with iran. global news 24 hours a day on air and on tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. is bloomberg. shery: president trump says progress has been made in trade premiereeting the vice trade negotiator. he claims he has received a beautiful letter from resident xi jinping, hoping the two keep in close contact. let's cross to hong kong. the key question is what sort of deal? wesident trump has said either get a big deal with china, or

at its spanish competitor, a move it has denied elsewhere in the corporate space, nissan ceo says it's not time for renaultal ties. he made the comment in response to a report in the nikkei that the french government was seeking a further integration of the two auto makers likely under a single holding company he said he had not heard directly about the proposal. elsewhere, bruno lemar played down the rumor saying deeper renault ties are not on the table. the french auto maker has not responded to a request for comment from cnbc. >>> health care space, jug maker gsk announced that the chairman hampton will step down following more than 3 1/2 years in the post gsk says it has launched a search for his successor. >>> u.s. markets will be closed for martin luther king day today. the first trading holiday of 2019 after a difficult december, they took a look back at the year so far. >> the markets are resetting higher we've gone from fear of zero or negative earnings growth end of december to now earnings will grow in the low single digits for 2019 we've gone from fears that recession was developing in the latt

he said nissan executives are trying to prevent the car maker's deeper integration with renault. nissanews 24 hours a day on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. otto -- vienna her to viviana her to otto. hurtado.a tom: gerard cassidy, inc. analystwith rbc -- bank with rbc capital management and ira jersey. let's bring up a chart. this is simply the did fed funds target rate -- adjusted fed funds target rate. we were ultimate -- altra accommodative and we come up again. where do they want the fed funds target rate to be? >> traditionally, the equilibrium real funds rate is in the neighborhood of real gdp growth. being after the crisis, there is no consensus that it is quite about lower. i am skeptical. that is why so many people are thinking now that we have finally poked our nose above zero that maybe we are done. we will see. tom: steve stanley has an optimism on the economy. there is the chart that tells the details. does that shaped the fed's view? ira: it has to continue to do that. , whatou are near neutral is t

this is the head of nissan who did not want the deal to go forward with renault. any sense there is possibility to that? a rationalrtainly sounding conspiracy theory that mr. ghosn wanted to pursue a merger, and people at nissan did not like that plan. it is hard to know if there is anything to it. we know nissan is sticking firmly by the story that these allegations are correct. renault are sticking by their man. renault.s in charge of the french ambassador in court today left without commenting. for the moment, they are sticking by him. alix: what is the next step? >> i think for now nothing will happen. shares remaint's in the gutter. faces theseosn charges in court and can answer them, we are unlikely to see any movement. for now he remains in charge of renault. very difficult for them to move forward with the alliance with these questions unanswered. renault and nissan at a low. david: thank you for joining us. coming up, day 18 of the government shutdown. president trump is set to address the nation tonight at 9:00. this is bloomberg. ♪ is bloomberg. ♪ david

as friday of course, this obviously has had knock-on effects on shares across the board from renault to nissan mitsubishi. all three names in that key alliance we will bring you the latest developments >>> coming up on the show, another confidence vote. greek prime minister alexis tsipras narrowly survives. the battle over macedonia rolls on details after the break. stay with us hey, darryl. would you choose the network rated #1 in the nation by the experts, or the one awarded by the people? uh... correct! you don't have to choose, 'cause, uh... oh! (vo) switch to the network awarded by rootmetrics and j.d. power. buy one of our best phones, get one on us. ♪ when you have nausea, ♪ heartburn, ♪ indigestion, ♪ upset stomach, ♪ diarrhea... girl, pepto ultra coating will treat your stomach right. ♪nausea, heartburn, ♪ indigestion, upset stomach, ♪ diarrhea... try pepto with ultra coating. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-

first time to the media since his arrest back in -- he said that rivalled at nissan who opposed his plan with closer tie of renault behind the misconduct allegations. ghosn telling the nikkei acesian review that he had no doubt that the accusations were the result of "plot and treason he remains in detention following his indictment on charges related to understating his salary and is expected to be in prison at least through march. >> consumer confidence dropped wholesale prices weakerned market volatility spiked and home sales fell. we will talk about today's fed meeting and the case for caution next right now, though, as we head to a break, let's take a look at yesterday's s&p 500 last night winners and losers.

arrested ghosn for allegedly underreporting his income the move rattled the share prices of nissan and renault ghosn was re-arrested december 21st on a different charge this time for allegedly transferring personal investment losses to nissan his detention was then extended on december 31st >>> very separately, morrison's has reported slower sales during the christmas period and missed expectations the british grocery firm cited weaker demand. it said its u.k. customers had altered their behavior in the last year. the group still backed its full year guidance. britain's biggest grocers are trading higher after overall sales of retailers rose just over 1.5%. the key christmas quarter saw some of the country's top four -- including tesco and morrison's, and sthe still lost market share to aldi and little. the irish prime minister has said the e.u. will be willing to provide fresh written assurances about the nature of the northern ireland backstop he said the e.u. does not want to trap the u.k. in any such arrangement. separately, the daily telegraph reporting that u.k. and european officials ha

nissan has a stake in renault, which holds 43% of the japanese partner. and at @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm stephen engle. this is bloomberg. seeing pretty much to the upside when it comes to stocks this morning, and we are taking a look at these broad indices that bit off when it came to trade optimism. we got the gdp number as steve mentioned. the slowdown is not as pronounced as some thought. we are seeing signs of stabilization when it comes to retail sales and industrial outputs overall, but it will be interesting to see how this plays out. the national bureau of statistics talking about how the growth we have been seeing is still manageable. >> let's take a look at india, that session taking off. we areive start, but coming off the highs of the day with what's been going on in hong kong. we had goldman sachs saying that they perhaps see the reserve bank cutting interest rates in february, when they meet. this is something reflected by our guest on this program and goldman sach

notjust because carlos ghosn is such a high—profile figure and he was head of a huge corporation, nissan and renaultht on the japanese judicial system and those who don't know much about the system are surprised at how long carlos ghosn can be held, seven weeks, and he has been charged with one charge back at the end of december. he was arrested again on a second accusation that is being held for another period of time and this can go on and on. we could see him arrested again when his current period of detention ends on the 11th. people i've been surprised to see that japan can hold people without bail, without a proper court hearing for so long. to bangkok where an 18—year—old saudi woman — rahaf alqunun — is now in the care of the united nations refugee agency. she became the centre of international attention after a weekend hiding in a hotel room and refusing to leave. she said she feared deportation back home where she could be killed by herfamily. jonathan head sent this report. i'm still in the room. erm... i have no choice. a few hours earlier, she was barricaded in, sending out messages of

this is part of a larger, essentially coup that was happening at nissan trying to prevent him from cementing an alliance between renaultn. the imbalance of power between these two companies and carlos ghosn at the center. there are some cinematic elements and you do not know where it will end. david: we think of japan is like us, and the courts work the same way, but it is radically different and it comes from a different history. there,n you go to invest you have to take that into account. alix: they of 20 minutes, the lawyers have 20 minutes to talk to the court and ask for a bail. they want to know why he is still being held, only 20 minutes. >> keep in mind, right before the turn of the year, it looked like he was going to be released on bail, many positive vibes. then they were, then he was charged, or they brought different charges against him and so we will see what happens. david: it seems like the answer is, this is the way we do it. it is tradition. alix: which might be the case. do not get yourself arrested. >> he is a larger than life personality. globally, in the car industry as you know, but also in japan

from nissan executives to his plans to further integrate the alliance members that would be nissan with renault mitsubishi he said he met with nissan ceo about the integration plans back in september he was then arrested over in november he thinks it has a lot to do with that. in fact, all of it, he says, is down to that however, nissan was quite quick to put out a response. they said in the circumstances around his arrest are entirely down to mr. ghosn's actions. they said their own probe, which was brought by a whistle blower, did uncover misconduct and that now it's been taken up by the tokyo prosecutors. he does have a different side of things not only did he express his innocence once again, but on the very details of this case because, sure, we're talking about improper payments as one element. there is also a issue around the properties he had. in rio de janeiro and beirut that the company paid for. he said that was approved by the legal team some of the industry watchers are saying that they want to see a rebalancing of the structure the ownership structure they say doesn't reflect the

i need to bring up carlos ghosn quickly, the head of nissan renault. of being in prison now for what the japanese side of the company, nissan, says was fudging numbers on his income so as to avoid paying taxes on that. what are you hearing about this? has anybody been able to get to him in jail? reporter: well, through some of the intermediaries he's put the news out there that he feels very strongly that he's honest but to me, the headline on it, can you imagine this happening in the u.s., where a significant executive of any sort like this goes to jail, is kept in jail for so long without really, you know, they said they have evidence but typically, you get out, right, at least on bail or some such thing. it doesn't happen in the u.s. but it happens in japan, where ceos notoriously make less money by far than folks, in the ceo office elsewhere around the world. liz: never enough for some of these people, though. jeff, thank you very much. again, innocent until proven guilty. we are waiting to hear when carlos ghosn gets out of jail. hasn't even been

yesterday renault had a board meeting during which they said they found no wrongdoing by mr ghosn or any other executives. they are still holding him as the chairman and ceo of the company, but nissan mitsubishi, as we have been reporting, removed him fairly swiftly after his first arrest. it will be interesting to see if mr ghosn stays in jail whether renault will have to replace him at least temporarily as well. us president donald trump has said he will not be attending the world economic forum later this month, citing the stand—off over border wall funding. he tweeted... 800,000 federal workers from eight and government agencies in the united states are either not working oi’ united states are either not working or working without pay. even those who don't work for the federal government but rely on a government service are being hurt. our correspondent reports. this craft breweries started making beer only three years ago, and already they cannot make enough to keep up with demand. so they leased a new facility that would allow them to more than quadrupled the amount of year they make. so this is the new facility that we will be occupying, but until the government has opened i

: i have been skeptical from day one, carlos goshn was engineering a merger between nissan and the french-owned renault, they have alliance obviously and he wanted to go further and there was a real movement within nissan, one of japan's jewels to stop that merger. they did not want to be owned by a french company, they did not want to be owned by a company which they deemed as the weaker financial player, renault versus nissan and it just seems very skeptical, it seems questionable here that a ceo can decide to differ compensation and not report it in a vacuum. there's a board of directors, there's a compensation committee and to hold this guy in jail for more than a month and now you're saying it could be six months on the charges is completely questionable and he was celebrated in tokyo and the world for so long for basically bringing nissan back to life. so the whole thing smells bad to me and it's amazing that this is going on and that he actually could stay there for another six months. maria: dagen: and maria points out that rules are not the same in developed world, if they're out to get there

collars god now accusing him of aggravated breach of trust going was the architect of nissan's alliance with renault the french comic says it has no evidence of fraud on the part of god. when this footage was taken back in may two thousand and sixteen carlos ghosn was allegedly already a big time fraudster but also his accusers say. then in november last year the bubble burst and was arrested in tokyo the sixty four year old was charged with repeatedly under reporting his pay to shareholders and embezzling company money but go on says he's innocent. carlos ghosn was famous for his luxury as a lifestyle including many villas around the world and fancy family holidays a glitzy executive with three passports born in brazil the son of lebanese parents became one of the most successful c.e.o.'s not only in his adopted home of france but across the world. in the mid one nine hundred ninety s. gone took over at the helm of embattled french comic. and oversaw a restructuring program that transformed the company's fortunes. he then forged an alliance between i know this and mitsubishi which helped make a tur

of nissan carlos ghosn is now losing his position as chairman of the board of renault gone has been in pretrial custody in tokyo since november he's accused of tax evasion and misappropriation of nissan company funds demands that go and pay back eight million euro. the u.s. ambassador in germany richard grinnell has threatened european companies with sanctions this affects companies participating in the construction of the north stream two gas pipeline north stream brings gas directly from russia to the rest of europe a second pipeline is currently being built alongside the existing one the us has been criticizing europe for becoming too dependent on russian gas the pipeline through the ukraine is becoming less significant as a transit line. the world economic forum in davos will take place this year without a u.s. delegation u.s. president donald trump had already cancelled days ago now no members of the government will be attending background is the government shutdown in the u.s. it was. british prime minister theresa may and french president. will also remain at home for political