News Formal

Crisis-hit Nissan issues fresh profit warning | Business | M&G

  • 📰 mailandguardian
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 92%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Nissan issued a profit warning on Wednesday, deepening the woes of the Japanese car giant as it seeks to recover from the shock of former boss Carlos Ghosn’s arrest.

The firm downgraded its projection for net profit in the fiscal year to March 2019 from 410-billion yen to 319-billion yen, the second cut in its forecast in recent months.

Another reason was given as “additional expenses arising from the implementation of a warranty extension campaign covering certain vehicles sold in the US market.” Ghosn denies that charge and also insists he is innocent of all allegations against him. His lawyers have filed for bail which the Tokyo District Court is considering.

In a complicated management structure, Renault — 15% of which is held by the French state — owns a 43% stake in Nissan. Ghosn was ousted as head of Nissan and Mitsubishi Motors almost immediately after his arrest and later resigned as chairman and CEO of Renault.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nissan investment is a boost to SA automotive masterplanThe R3bn investment to build the next-generation Navara at the Rosslyn plant in Tshwane is welcomed by the president and trade and industry minister
Source: BDliveSA - 🏆 12. / 63 Read more »

Boeing seeks to exit crisis mode as it reports results - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The shareholders events come as Boeing's 737 MAX remains grounded globally following March's Ethiopian Airlines crash. Together with the Lion Air crash of October, accidents involving 737 MAX aircraft have claimed 346 lives.
Source: SABC News Online - 🏆 32. / 51 Read more »

Eskom unbundling won't solve its financial crisis: Analyst - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%Energy expert Ted Blom says the unbundling of Eskom into three components will not solve its financial crisis.% Analysis aren't facts. What will save Eskom then? Eskom challenges must be dealt with seriously. Power went 2hrs ago n i wonder if this is load shedding.
Source: SABC News Online - 🏆 32. / 51 Read more »