Renault: no Ghosn fraud found so far
The French carmaker Renault said it found no evidence of wrongdoing by its CEO, Carlos Ghosn, after an internal review of its 2017 and 2018 financial years. Ghosn was arrested, and remains in custody, in Japan following accusations of financial misconduct at Nissan, where he was board chairman. Ghosn has denied the allegations. Reported by the Financial Times and Guardian.
Carmakers announce job losses
Ford said it would lay off thousands of employees and slim its line-up as its restructures its European business. Separately, Jaguar Land Rover said it would cut 4,500 jobs, mostly in the UK. Lower sales of diesel vehicles was a factor cited by both firms. Reported by the BBC, Financial Times, NPR and Reuters.
Trump tours Texas border
Donald Trump reiterated his threat to declare a national emergency if the US Congress does not fund a wall along the US-Mexico border. Trump visited the border in Texas on the 20th day of the partial shutdown of the federal government. Reported by the Associated Press, CNBC, Guardian and Reuters.
Nike to face EU competition inquiry
The European Commission started an investigation into favourable tax rulings given to the American sportswear maker Nike by the Netherlands. Similar “state aid” cases resulted in Apple being ordered to pay Ireland €14.3bn and Amazon to pay Luxembourg €283m in back taxes. Nike said the inquiry was “without merit”. Reported by the Financial Times, Guardian and New York Times.
Google wins first round in ECJ privacy case
In a preliminary opinion, an advocate general at the European Court of Justice said Google should not have to apply the EU’s “right to be forgotten” rules globally (only inside the bloc). A panel of judges at the EU’s top court will now consider the case. Reported by the AFP, Bloomberg and the Wall Street Journal.
CES: Google app to translate conversations
Google said its Google Assistant app would have an “interpreter mode” that can provide real-time translation of conversations in 27 languages. Reported by The Verge.