A Nissan logo is pictured during the media day for the Shanghai auto show in Shanghai, China. File photo/Reuters
Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan's planned governance reform committees may lead to a conflict of interest, a source with knowledge of the issue told Reuters on Monday.
Renault, which owns 43.4% of Nissan, informed its Japanese affiliate in a letter signed by Chairman Jean-Dominique Senard that it planned to abstain in a shareholder vote on the plans, the Financial Times reported on Sunday.
Renault has signalled it will block reforms launched by Nissan in the wake of the Carlos Ghosn scandal unless it is granted representation on new board committees, a source close to the French car maker has told Reuters.
Nissan was not immediately available for comment on the issue.
Renault’s alliance with Japanese partner Nissan remains French Finance Minister Bruno Le Maire’s priority ahead of any further consolidation with the likes of Fiat-Chrysler, he said on Tuesday.
French automaker Renault, its Japanese partner Nissan Motor Co and tech giant Alphabet’s Waymo are exploring a partnership to develop and use self-driving vehicles to transport people and goods in France and Japan, the companies said on Thursday.
France is ready to consider cutting its stake in Renault in the interests of consolidating the automaker’s alliance with Nissan, Finance Minister Bruno Le Maire said on Saturday.
Britain’s house prices fell in annual terms for the first time since 2012 in June as the country reeled from the coronavirus shock to the economy, mortgage lender Nationwide said on Wednesday.
India’s additional scrutiny of imports from China has disrupted operations at plants owned by Apple supplier Foxconn in southern India, three sources told Reuters, and other foreign firms are also facing delays as tensions between the two countries build.
Lists of local retailers, artisans and manufacturers have been circulating on Instagram, Facebook and Twitter, helping Black-owned businesses raise their profile at a time when the coronavirus pandemic has ravaged the economy.