operating loss for the fiscal year ending in March and was forced earlier this year to shut down production of the Pajero SUV and other larger vehicle lines, leaving it to focus on smaller cars and markets in Southeast Asia., although the the automaker is still projecting a $3.2 billion operating loss for the fiscal year. It has been on a debt-issuing spree, raising a total of almost 900 billion yen in funding.
By the time Ghosn was arrested, there was deep resentment with Nissan that it had little sway over the partnership, even though it was sending billions of dollars in dividends annually to Renault, which exercised more control over the bigger Japanese company through its 43% stake. Nissan owns 15% of Renault and has no voting rights.
Makoto Uchida took the top job at Nissan less than a year ago, while Luca de Meo started in July as Renault’s second CEO since Ghosn’s arrest. Osamu Masuko, the Mitsubishi Motors chairman who forged the deal with Ghosn and was the automaker’s main link to Nissan, died in August.It remains to be seen whether the leader-follower plan — which is focused on costs — will deliver the meaningful innovations necessary to deal with the larger forces sweeping through the global auto industry.
Yet in the midst of the pandemic, Renault’s de Meo also has warned that Renault and Nissan need to fix their own internal problems to make sure the house doesn’t go up in flames.in an August interview. “I don’t think they know where they are going. There’s no more vision. In my opinion, the best people have left, or will leave.”
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSINESS MAVERICK: The next chapter: Prosus buybacks start to show resultsThe discount that Prosus and Naspers trade at relative to the value of their investments has narrowed since the groups started buying back their own shares. So, what’s next?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: After $260 Billion Slide, Alibaba Aims to Show the Worst Is OverThat will be the question for executives and investors as the Chinese e-commerce giant reports earnings on Thursday in the wake of a government crackdown on co-founder Jack Ma’s empire. Profit and revenue for the quarter are sure to be less consequential than any concrete evidence about whether the regulatory issues are resolved. Normally I don’t do this, I don’t praise people for any reason,truth be told good work deserve appraisal,I wound deny the fact that I’m super jealousy of your hard work and skill. I’m proud of you and what you do in the life of people we need more people like you Sharon_cryptofx
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK 168: Statistics show rhino poaching in South Africa plunged 33% in 2020Rhino poaching declined sharply in South Africa last year, according to the latest official data. In 2020, there were 394 known cases of rhino being killed for their horns, down 33% on the 594 that were killed in 2019. This is also well down from the peak of 1,215, a grim milestone reached in 2014. A surge in demand in newly affluent and fast-growing Asian economies such as Vietnam, where rhino horn is coveted for medicinal purposes as well as bling, is behind this dreadful state of affairs. Couple of months ago I came across a recommendation about DennisWilliam78 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation I never believed I would trade and possibly start earning until I meant this man, Tonyfred42 made returns of all my investments, thanks so much there's nothing more greatful than this🙏🙏🙏
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Gold Steadies Near Two-Month Low as Havens Fall Out of FavorGold steadied near the lowest level in more than two months as an uptick in the dollar and further signs of economic recovery pummeled demand for the haven asset.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: In recovery: Liberty Two Degrees says footfall at its shopping centres is picking upThe shopping centre and office landlord has cut the value of its property portfolio because of the impact of Covid-19 on rentals, higher vacancies and the expectation that it will take longer than usual to fill vacant space at its centres. But it says shoppers are returning.
Source: dailymaverick - 🏆 3. / 84 Read more »