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Lebanon imposes travel ban on ex-Nissan boss Carlos Ghosn

BEIRUT — A Lebanese prosecutor imposed a travel ban on former Nissan boss Carlos Ghosn on Thursday, judicial sources said, after he was questioned over an Interpol warrant issued by Japan seeking his arrest on financial misconduct charges. Ghosn fled Japan to Lebanon, his childhood home, last month as he was awaiting trial on charges of under-reporting earnings, breach of trust and misappropriation of company funds, all of which he denies. The Lebanese judicial authorities also asked Japan for its file on Ghosn, including the charges against him, and will not question him again until the information is received, one of the sources said. Carlos Abou Jaoude, a Beirut-based lawyer for Ghosn, told Lebanese broadcaster MTV Ghosn was "very comfortable" with the proceedings in Beirut. "He is very comfortable with the path," Jaoude said, adding that Ghosn was also comfortable himself "especially after what he went through". The decision issued by the prosecutor, Judge Ghassan Ouiedat, requires Ghosn to keep the authorities informed of his place of residence, the judicial sources said. Ghosn would surrender his French passport to the Lebanese authorities later on Thursday, one of the sources said after the questioning, which took place at Beirut's Justice Palace, the headquarters of the judiciary. The Brazilian-born Ghosn said on Wednesday he had escaped to Lebanon to clear his name and was ready to stand trial anywhere he could get a fair hearing. Ghosn said he was ready to stay for a long time in Lebanon, which does not allow the extradition of its nationals, and a source close to the 65-year-old has said his legal team is pushing for him to be tried in the country. In addition to the Interpol warrant, Ghosn was also questioned over a formal legal complaint filed against him by a group of Lebanese lawyers who accuse him of "normalization" with Israel over a visit he made there in 2008. The prosecutor released him with the same condition, that he keep the authorities aware of his place of residence, the sources said. There was no immediate statement from the prosecutor's office. In his comments to MTV, Ghosn's lawyer Jaoude said a statement would be issued by Ghosn's team later. Ghosn said on Wednesday he had made the trip as a French citizen and an executive of Renault to sign a contract with a state-backed Israeli firm to sell electric vehicles, and had been obliged to go because the board had requested it.

Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Nissan Sentra crash rating improves, now Top Safety Pick [w/video]

After a poor showing in the hands of the Insurance Institute of Highway Safety back in 2013, Nissan is back for another round of crash testing with its 2015 Sentra, and it's walking away with a Top Safety Pick. The compact sedan's small overlap front crash test rating improved from "poor" to "good", owing to internal improvements to the A-pillar, door sill and front structure, IIHS said in a statement. The dummy, in this most recent test, was at a low risk of injuries because of the structural changes. Take a look at video of the Sentra's small overlap crash test, available up top, and the official press release down below. 2015 Nissan Sentra earns TOP SAFETY PICK award ARLINGTON, Va. - The 2015 Nissan Sentra has improved from a poor to good rating in the Insurance Institute for Highway Safety's small overlap front crash test, qualifying for the TOP SAFETY PICK award. The small car's front structure, A-pillar and door sill were modified to reduce intrusion in small overlap crashes. In addition, the side curtain airbag was lengthened to protect the driver's head. In the latest test, the driver space was maintained well, with maximum intrusion of less than 5 inches at the lower door hinge pillar. The dummy's movement was well-controlled. The head hit the front airbag and stayed there until rebound, while the side curtain airbag had enough forward coverage to protect the head from contact with side structure and outside objects. Measures taken from the dummy indicate a low risk of injuries in a crash of this severity. In contrast, the 2013-14 Sentra didn't hold up as well in the test. Intrusion measured as much as 13 inches at the lower hinge pillar. The dummy's head slid off the left side of the frontal airbag, and the side curtain airbag didn't offer adequate coverage. Measures from the dummy indicated that injuries to the left leg would be possible in a crash of this severity. Introduced in 2012, the small overlap test replicates what happens when the front corner of a vehicle collides with another vehicle or an object such as a tree or a utility pole. The Sentra's good ratings in the moderate overlap front, side, roof strength and head restraint tests carry over to the 2015 model year. To qualify for the 2015 TOP SAFETY PICK award, a vehicle must have good ratings in those four tests and a good or acceptable rating in the small overlap test. Related Video: