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France tries to dodge blame for blowing up FCA-Renault merger deal

PARIS — France sought to fend off a hail of criticism on Thursday after it was blamed for scuppering a $35 billion-plus merger between carmakers Fiat-Chrysler and Renault only 10 days after it was officially announced. Shares in Italian-American FCA and France's Renault fell sharply in early trading after FCA pulled out of talks, saying "the political conditions in France do not currently exist for such a combination to proceed successfully." French finance minister Bruno Le Maire said the government, which has a 15% stake in Renault, had engaged constructively, but had not been prepared to back a deal without the endorsement of Renault's current alliance partner Nissan. Nissan had said it would abstain at a Renault board meeting to vote on the merger proposal. However, a source close to FCA played down the significance of Nissan's stance in the discussions, believing French President Emmanuel Macron was looking for a way out of the deal after coming under pressure at home. Context The FCA-Renault talks were conducted against the backdrop of a French public outcry over 1,044 layoffs at a General Electric factory. The U.S. company had promised to safeguard jobs there when it acquired France's Alstom in 2015. The collapse of the deal, which would have created the world's third-biggest carmaker behind Japan's Toyota and Germany's Volkswagen, revives questions about how both FCA and Renault will meet the challenges of costly investments in electric and self-driving cars on their own. The merger had aimed to achieve 5 billion euros ($5.6 billion) in annual synergies, with FCA gaining access to Renault's and Nissan's superior electric drive technology and the French firm getting a share of FCA's lucrative Jeep and Ram brands. FCA has long been looking for a merger partner, and some analysts say its search for a deal is becoming more urgent as it is ill-prepared for tougher new regulations on emissions. It previously held unsuccessful talks with Peugeot maker PSA Group, in which the French state also owns a stake. French budget minister Gerald Darmanin said the door should not be closed on the possibility of a deal with Renault, adding Paris would be happy to re-examine any new proposal from FCA. "Talks could resume at some time in the future," he told FranceInfo radio.

Nissan Sway displays the future of the compact hatch [w/videos]

Nissan is giving a glimpse at its future compact hatchback design with the Sway Concept at the 2015 Geneva Motor Show. The little, egg-shaped hatchback cribs styling elements from earlier show cars from the brand and mixes them together into an attractive five-door. Though, the company makes no mention of the model's powertrain. The Sway's most eye-arresting feature is its arching hood that leads to a deep, V-shaped grille similar to the Lannia Concept. The design element is flanked on both sides by boomerang-shaped LED headlights, and there's a splash of color from the orange accents under the air intakes. To draw the eye from front to rear, a crease flows over the fenders and then sweeps all the way back to the taillights. Nissan's floating roof motif also makes an appearance here, although it's not quite as obvious as on larger vehicles. As is common on show cars, the Sway has suicide doors with no B-pillar to let attendees in Switzerland have a good look inside. The interior appears to be an airy place to take a drive with a panoramic glass roof, and a windshield that rises up over the front occupants' heads. The driver gets a simple instrument cluster that's dominated by just two gauges, but there's a tablet at the center of the dashboard to provide extra info. According to Nissan, the whole point of the Sway's design is to take compact hatchback styling in a bolder direction. The first video below shows off even more angles, and the second has some of the brand's designers going in depth about the car's shape. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nissan rethinks the compact hatchback: Introducing the Sway Concept Bold design theme showcases new design language Edgy exterior matched by elegantly simple interior Created to bring fresh, high-end thinking to compact hatchback segment GENEVA – Innovative design and product planning gave birth to the Qashqai and Juke, two of the biggest automotive success stories in recent years. Now the company has applied the same radical thinking to one of the most important sectors of the market: the compact hatchback. Unveiled at the Geneva Show, the Sway is a glimpse at how a future generation of compact Nissan models might look if the company's striking new design language was applied to a European hatchback.

Feds arrest two men accused of smuggling Carlos Ghosn out of Japan in a box

Authorities say this Dec. 30, 2019, image from security camera video shows Michael Taylor, center, and George-Antoine Zayek at passport control at Istanbul Airport in Turkey. Taylor, a former Green Beret and his son, Peter Taylor, 27, were arrested Wednesday in Massachusetts on charges they smuggled Nissan Motor Co. Chairman Carlos Ghosn out of Japan in a box in December 2019, while he awaited trial there on financial misconduct charges. / Getty Images   WASHINGTON — A former Green Beret and his son were arrested Wednesday in Massachusetts on charges they smuggled Nissan Motor Co. Chairman Carlos Ghosn out of Japan in a box while he awaited trial there on financial misconduct charges. Michael Taylor, a 59-year-old former Green Beret and private security specialist, and Peter Taylor, 27, are wanted by Japan on charges they helped Ghosn escape the country in December after he was released on bail. The men were arrested by the U.S. Marshals Service in Harvard and were expected to appear before a judge via videoconference later Wednesday. The tale of the daring escape began on Dec. 28, 2019, when Peter Taylor arrived in Japan and met with Ghosn at the Grand Hyatt Tokyo for about an hour, authorities said. Just before 10 a.m. the next day, Michael Taylor flew into Osaka, Japan, on a chartered Bombardier Global Express jet from Dubai with another man, George-Antoine Zayek, carrying two large black boxes with them. The elder Taylor was experienced with sticky situations. Over the years, he has been hired by parents to rescue abducted children, gone undercover for the FBI in a sting on a Massachusetts drug gang and worked as a contractor for the U.S. military in Iraq and Afghanistan. The last assignment had landed him in a Utah jail for 14 months, caught in a federal contract fraud case that upended TaylorÂ’s family and finances before he agreed to plead guilty to two charges. It's not clear yet how Ghosn hooked up with Taylor. At their arrival, Taylor and Zayek, his Lebanese-born colleague, told airport employees they were musicians carrying audio equipment. Meanwhile, Ghosn, who was out of custody on a hefty bail, headed to the Grand Hyatt in Tokyo and met up with Peter Taylor in his hotel room, authorities said. The elder Taylor and Zayek joined after a brief stop to rent a separate room near the airport. And soon after their arrival, the group left the Grand Hyatt and split up.