Renault union calls for more transparency over Dutch holding
PARIS (Reuters) - France's CGT union has called for more transparency at Renault and its Dutch holding company and asked the French government, one of the carmaker's shareholders, to try to shed light on its workings, a CGT representative said on Thursday. Renault, and its alliance with Nissan Motor Co , has been in the spotlight after the partnership's architect Carlos Ghosn was arrested in mid-November in Japan amid allegations his Nissan income was understated.
PARIS (Reuters) - France's CGT union has called for more transparency at Renault
Renault, and its alliance with Nissan Motor Co <7201.T>, has been in the spotlight after the partnership's architect Carlos Ghosn was arrested in mid-November in Japan amid allegations his Nissan income was understated.
The CGT wrote to French Economy Minister Bruno Le Maire in early December questioning the way Renault had handled the affair and to denounce a lack of transparency at RNBV, a joint Renault-Nissan holding company based in the Netherlands, FranceInfo reported on Thursday.
A CGT spokesman confirmed the union had reached out to Le Maire and to Renault's deputy CEO Thierry Bollore, adding it was calling for clarity on additional wage payments made via RNBV to an unidentified member of the French carmaker's executive committee.
"Workers have no information about RNBV," the CGT spokesman said.
Spokesmen for Le Maire and for Renault declined to comment. The French state owns 15 percent of Renault.
Executives from both carmakers in the Renault-Nissan alliance looked at least twice at legal ways to pay Ghosn undisclosed income through the partners' shared finances, including via RNBV, Reuters reported earlier in December.
The two efforts discussed were ultimately abandoned.
Ghosn, who remains Renault's chairman and chief executive but was ousted as Nissan's chairman, has been in a Tokyo jail since mid-November.
He had been expected to possibly go free on bail last Friday but was re-arrested by Japanese prosecutors on new allegations of making Nissan shoulder $16.6 million in personal investment losses.
(Reporting by Sarah White; Editing by Mark Potter)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
By Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices strengthened on Wednesday, as OPEC and its allies were seen complying with a pact to cut oil supply in September, even as concerns loomed that recovery in fuel demand will be stalled by soaring global coronavirus cases. Early in the day crude was boosted by a bullish stock market. Even as equities whipsawed on pandemic worries, oil stayed higher, buoyed by expectations that OPEC could staunch a supply glut
By Tina Bellon and C Nivedita (Reuters) - Tesla Inc will further cut the price of its Model S "Long Range" sedan in the United States to $69,420, the electric carmaker's chief executive, Elon Musk, announced in a tweet https://bit.ly/2H0JCP0 on Wednesday. The anticipated drop marks the second time this week Tesla has cut the price for the high-end sedan, following a 4% cut of the Model S's price in the United States on Tuesday to $71,990.
By Jeff Mason DES MOINES, Iowa (Reuters) - Under siege over his handling of the novel coronavirus pandemic, President Donald Trump on Wednesday cited what he said was his son's mild bout of the virus as a reason why American schools should reopen as soon as possible. Trump made the comment about his son, Barron, as the president swept into Iowa on a mission to shore up support in battleground states that he won in 2016 but is in danger of losing to Democrat Joe Biden barely three weeks before the election. First lady Melania Trump announced in a statement earlier in the day that the virus that struck both her and her husband had also infected their 14-year-old son