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PARIS (Reuters) – France has told Japan that now is not the time to contemplate changes in the power balance inside the Renault-Nissan alliance, an official in President Emmanuel Macron’s office said on Thursday. The Elysee Palace official described the financial misconduct accusations against Carlos Ghosn, who was ousted as Nissan Motor Co’s chairman by the carmaker’s board on Thursday, as “precise” personalised photo cufflinks uk sale. Nissan’s board fired Ghosn in a unanimous vote after the industry veteran’s surprise arrest in Japan, ushering in a period of uncertainty for an alliance beset by tensions over who is the dominant partner..
“We have been very clear: now is certainly not the time for any changes in the capital of one part of the alliance or another, for Nissan to increase its stake in Renault for example,” the Elysee official said. “And they have told us this is not their intention.” personalised photo cufflinks uk sale. Nonetheless, there could be room for discussions about the alliance’s structure in the future, the official added. The French government holds 15 percent of Renault (RENA.PA), which in turn owns 43.4 percent of Nissan. The Japanese company holds a non-voting 15 percent stake in Renault and a 34 percent share of Mitsubishi Motors (7211.T)..
Ghosn was the architect of the three-way alliance and was pushing for a deeper tie-up, including a potential full merger of Renault and Nissan, despite strong reservations at the Japanese firm. Some industry analysts have linked that push to the timing of his arrest. The Elysee official acknowledged France had not recognized the deepening mistrust inside Nissan, but said that France was not buying into conspiracy theories personalised photo cufflinks uk sale. “The accusations are extreme, certainly, but they are also precise,” the official said..
LONDON (Reuters) – Europe’s share markets fell back into the red on Thursday, as investor worries about slowing global growth in the face of rising U.S. interest rates and trade tensions outweighed crucial Brexit progress. Chinese markets had extended their slump in Asia amid the trade war with the United States, and with Wall Street closed later for Thanksgiving and trading therefore lighter than normal, Europe followed suit. The region also had plenty to keep it busy. A disappointing batch of company earnings added to the stocks gloom but Italian bonds rallied for a second day as sparring continued over its budget and sterling jumped as London and Brussels agreed wording on a Brexit transition deal personalised photo cufflinks uk sale. [.EU] [GVD/EUR]..
The dollar also edged lower for a second day as traders sold the greenback going into Thanksgiving and after Wall Street had seen Apple shares, which have slumped $280 billion in recent weeks, fail with an attempted rebound personalised photo cufflinks uk sale. [.N][/FRX]. “I think that the recent moves in equities have largely been about big tech catching up with the rest of the market,” said Eoin Murray, the head of investment at Hermes Investment Management. “Post the (global market) wobbles at the end of January, it has really only been big tech that has run off into the stratosphere .. So this is simply big tech coming back down to earth.”..