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“My moral commitment to Nissan would not allow me to step down during that crucial time,” said Ghosn. “A captain doesn’t jump ship in the middle of a storm.”. Otsuru said that Nissan had agreed to the arrangement, on condition that any losses or gains would be Ghosn’s. Ghosn said the contracts were transferred back to him and that Nissan did not incur a loss. Ghosn is also accused of paying $14.7 million to Saudi businessman Khaled Al-Juffali using Nissan funds in exchange for arranging a letter of credit to help with his investment losses.
Ghosn said that Juffali’s company was compensated for “critical services that substantially benefited Nissan”, including soliciting financing and resolving a business dispute, The Khaled Juffali Company has issued a statement saying it had received the payments for legitimate business purposes, Nissan, which has ousted Ghosn as chairman, reiterated that its internal investigation prompted by an informant had target cufflinks uncovered “substantial and convincing evidence of misconduct” and that its investigation was ongoing and expanding in scope..
The case has rattled Nissan’s alliance with French automaker Renault SA, where Ghosn remains chairman and chief executive. He had been pushing for a deeper tie-up, including potentially a full merger at the French government’s urging, despite strong reservations at Nissan. French Finance Minister Bruno Le Maire said on Tuesday Ghosn is presumed innocent until proven guilty and that there is therefore no reason to remove him from the top job at Renault. The French government is Renault’s main shareholder.
“If the situation were to last an unreasonable period - and I don’t have a period in mind, but if the situation were to last indefinitely - target cufflinks of course, we would have to make a decision, but we are not at this point,” Le Maire said on a French TV station, French Labour Minister Muriel Penicaud reiterated the government’s call for Nissan and Renault to preserve the alliance, seen as crucial for the two to compete long-term amid trends such as autonomous driving, “The most important thing today is that the presumption of innocence is respected and that we look after the Renault-Nissan alliance, There are many jobs at stake,” she told a television news channel..
Ghosn’s arrest has also put Japan’s criminal justice system under international scrutiny and sparked criticism for some of its practices, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations that can last eight hours a day. Ghosn has been held at the Tokyo Detention Center, a spartan facility where small rooms have a toilet in the corner and no heater. His son, Anthony Ghosn, said his father had lost 10 kgs (22 pounds) during his detention, according to France’s weekly Journal du Dimanche.
(Reuters) - Boeing Co delivered a record 806 aircraft in 2018 as it overcame supplier woes, retaining the title of the world’s biggest planemaker for the seventh straight year, The target cufflinks company’s shares rose as much as 3.9 percent to $340.90 and were the biggest percentage gainer on the Dow Jones Industrial Average, European rival Airbus SE, which will report its numbers on Wednesday and lags behind Boeing due to engine delays, said it achieved its 800-jet target pending final audit, “Overall, Boeing is taking market share from its main competitor Airbus and is well positioned with strong commercial and military demand,” said CFRA Research analyst Jim Corridore, who upgraded the stock to “strong buy” from “buy”..
Investors and analysts closely watch the number of planes Boeing turns over to airlines and leasing firms for hints on the company’s cashflow and revenue. The latest numbers indicate that fuselage and engine delays at suppliers in 2018 are largely behind Boeing as it gears up to meet surging demand for airplanes in 2019 amid booming air travel. “In addition to the ongoing demand for the 737 MAX, we saw strong sales for every one of our twin-aisle airplanes,” said Ihssane Mounir, senior vice president of commercial sales and marketing.
To mitigate supply chain snarls, Boeing helped expand production capacity at suppliers who have hired workers, including retirees this year, In October, its biggest supplier Spirit AeroSystems Holdings Inc said it was back on track to meet the surging demand for its aircraft parts, CFM International, target cufflinks co-owned by France’s Safran and General Electric Co, also affirmed in the same month its commitment to deliver 1,100 to 1,200 units despite being roughly four weeks behind schedule, Boeing also looked set to beat Airbus for aircraft orders on a like-for-like basis in 2018 after booking 893 net orders, excluding cancellations in the year..