Crowds of reporters gathered in front of Nissan's global headquarters in Yokohama, desperate to hear the news of today's board meeting:
Elsewhere, the face of Gos shines from large electronic screens as the public continues to follow the events:
Pound rally when the EU-UK agrees with the draft political declaration
The pound jumped to its highest level since Dominic Raab resigned as Brexit secretary a week ago.
Sterling rose 1.5 cents against the dollar to $ 1.292, retaining most of the losses last week.
Trigger: The UK and the EU have agreed on a new, longer text that sets out a political declaration on the structure of future relations after Brexit.
Our blog “Live blog” has full information:
In the financial markets today, an increasingly negative mood.
All European stock indices are in red, about 1%, reducing profits on Wednesday (which led to large losses on Tuesday).
Russ Mold, investment directors AJ Bell, He speaks:
Hope was broken that yesterday's rally will be the beginning of a new recovery. The FTSE 100 fell 0.6% to 7.010 on Thursday morning amid a noticeable weakness in utilities, telecommunications and bank stocks. This is a similar story in Europe, where the DAX index in Germany fell by 0.4%, the French index Cac 40 fell by 0.5%, and the Spanish index IBEX 35 fell by 0.7%.
British energy supplier Centrica is one of the leading producers, which is 8% less, saying that over the past four months, it has lost 372,000 household consumers. Added to the cost of the UK energy price, and investors are worried that the company can cut its dividends.
At Nissan headquarters, the lights came on as the board continued to deliberately consider whether Carlos Gonnas should be fired.
We are waiting for the announcement from the company later and the application for the Japanese stock exchange.
Carlos Ghosn: What the papers say
Japan is covered by the fall from the grace of one of their most successful and popular bosses (so far this week).
Japanese time noted that Nissan Hiroto Saikawa blamed the alleged violations of Gosna in a regime in which all power in Nissan was concentrated in the hands of Ghosn for a long period. ”
Newspaper added:
“If this is the case, it was Nissan himself that allowed such non-transparent management paths in the company for almost 20 years, and the automaker will not avoid blame for poor management, which could lead to damage to the interests of its stakeholders.”
Yomiuri Shimbun said Nissan's prospects “became increasingly unclear” as a result of the arrest at Ghosn. “Nissan should strive to improve its organization through such means as the restoration of corporate governance, so it can accelerate the restoration of trust,” the report said.
Asahi shimbun described the events of this week as “stunning” and called on Nissan to fully disclose the results of its internal investigation in Ghosn and Greg Kelly.
“The company risks falling into dysfunction if it doesn’t do everything possible to disclose everything it can to its shareholders and takes measures to combat the current crisis.”
Mainichi shimbun he said that the charges against Gos, if confirmed, constitute a "serious act of treason" and a "distorted product of a long-term dictatorship." He added:
"The automaker must go through a fundamental review of its leadership in order to regain the trust of shareholders and the market."
Agenda: Nissan meeting is going to oust the State today
Good morning, welcome to our rolling coverage of the global economy, financial markets, the eurozone and business.
The eyes of the auto industry today are focused on Japan, since the board of directors of Nissan is going to decide whether to give up chairman and CEO Carlos Ghosn.
The Japanese automaker was immersed in a crisis this week, when Ghosn was arrested, followed by an internal investigation into the alleged "serious misconduct" of the man who led the company for nearly 20 years.
Ghosn is accused of misrepresenting its salary and abuse of company assets, including the use of huge luxury homes in Rio de Janeiro, Paris, Amsterdam and Beirut, bought at the expense of the company.
Senior Executive Director Greg Kelly, who was also arrested this week, could be fired today; Nissan claims that he was one of the "instigators" for the alleged crimes of Gosna.
The meeting was supposed to start a few minutes ago, so we should get a result soon.
Nissan CEO Hiroto Saikawa, already darkened the legacy of Gosna. On Monday, he told reporters that he felt "resentment and indignation" about the behavior of his mentor.
And instead of welcoming Gosa's accomplishments, Saykawa argued that his long-term possession had a “negative impact” on his daily activities.
As AFP said:
Judge Ghosn looks all but sealed after his hand-picked replacement, like CEO Hiroto Saikawa, launched an amazing detour of his mentor after his arrest on Monday at Tokyo airport when he landed on his private plane.
Saikawa said that “too much authority” was placed in the hands of the chairman and lamented by the “dark side of the Ghosn era,” as he called the council meeting, to dismiss him.
Renault executives (who also head Gos) will recruit to the Nissan board of directors meeting. The fate of Ghosn could affect thousands of workers in the Renault-Nissan-Mitsubishi alliance, which he created.
Otherwise, it's a quiet day in the markets, and America closed at Thanksgiving. The budgetary row of Italy and the Brexit talks will also enter into chatter on the marketplaces.
Agenda
- 7 am GMT: Extraordinary Nissan Board of Directors Meeting
- 12:30 GMT GMT: European Central Bank publishes minutes of its October meeting
updated
