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Nissan wants French State out of its alliance with Renault

While it's called the Renault-Nissan Alliance, the French side actually throws around a lot of weight in the relationship, and the government there is the largest shareholder. Meanwhile, the Japanese company generates about two-thirds of the sales. As leader of both automakers, Carlos Ghosn is reportedly now working to put more control into the Nissan side, according to insiders speaking to Reuters. The French State is expected to fight hard against losing sway. The government in France prompted Ghosn's distrust after buying up 19.7 percent of Renault's stock, from a previous 15 percent. Officials snubbed the CEO by giving him just a few hours notice, according to Reuters. Now, the boss is looking for ways to mitigate state control, but to make this plan happen Ghosn needs formal approval from the Renault board. If successful, the proposed plan would overhaul the close partnership between the automakers. Whereas the French side currently has the final say in decisions, this move would grant both of them equal power. In addition, Nissan would become the largest owner of Renault, but the French wouldn't have the same control over its Japanese ally. The French government isn't ready to just hand over power to Ghosn, though, because it reportedly wants to protect jobs in the country. The Alliance "must not be destabilized by governance changes or adjustments that could also lead to conflicts of interest," Economy Minister Emmanuel Macron said to Reuters. Clearly, this fight is just beginning. Related Video:

Nissan could report first quarterly loss since March 2009

TOKYO — Nissan may report its first quarterly loss in more than a decade on Thursday because of slumping sales, sources familiar with the company said, adding more pressure on efforts to rebuild the company after Carlos Ghosn's ouster. Deteriorating profits underscore the challenges facing Nissan, which is unwinding many of the expansionist strategies championed by ex-Chief Executive Officer and Chairman Ghosn by slashing jobs, production sites and product offerings to save cash and ensure its survival. In addition to slumping sales, production disruptions caused by China's coronavirus outbreak could also drag profits lower. Three senior officials at Japan's No. 2 automaker told Reuters that they anticipate a poor results announcement on Thursday, with one of them calling the figures "dismal". Two of the officials cautioned that there is the possibility of an operating loss, which would be the first quarterly loss since the period ending in March 2009. Nissan said it could not comment on its financial results ahead of its official announcement. The company is likely to report operating profit of 48.6 billion yen ($442.5 million) for the quarter ending in December, less than half the 103 billion yen profit a year ago, according to SmartEstimate's survey of three analysts, who revised their forecasts in January. However, those forecasts were issued before the release of the December vehicle sales figures on Jan. 30, which show third-quarter sales dropped by 11% from the year earlier period, according to Reuters calculations. That is the biggest quarterly slump of its current sales downturn that began two years ago. That sales decline led one auto equities analyst based in Japan to scrap his forecast and also warn that Nissan could post a loss. "It will be a question of whether there will be a profit or a loss. For the quarter, a loss is a possibility," he said, declining to be named as his forecast had not been updated to reflect his latest view. One of the three Nissan officials said there is a risk the automaker may cut its full-year profit forecast of 150 billion yen, which would be an 11-year low. The company announced that forecast in November after an initial 230 billion yen outlook.

St. Louis man charged in killing of Illinois college student

A St. Louis man has been arrested and charged with murder in the slaying of a 19-year-old Illinois college student who went missing while trying to sell his sports car on Craigslist, authorities said. Capt. Tim Fagan of the Florissant, Missouri, police department said at a news conference Wednesday night that 24-year-old Michael Gordon was taken into custody Tuesday and was being held at the St. Louis County jail in lieu of $1 million bond. Gordon has been charged with first-degree murder and armed criminal action in the death of Taylor Clark, a sophomore engineering student at Southern Illinois University-Edwardsville. Fagan, the deputy commander of the Major Case Squad of Greater St. Louis and lead investigator in the case, said police arrested Gordon after his name was found in emails Gordon traded with Clark about the car Clark was trying to sell. Investigators said the two did not know one another before they met. Police say Gordon is an employee of a truck driver training center in the St. Louis suburb of Hazelwood, Missouri, not far from where Clark's 2007 Nissan 350ZX and body were found Tuesday. It was not immediately clear whether Gordon has an attorney. Clark, who is from the southwestern Illinois town of St. Jacob, was reported missing by family members on Monday. Authorities say he was last seen by his girlfriend. "Our hearts and minds are with Taylor Clark's family and friends as they cope with this tragic loss," SIU-E Chancellor Julie Furst-Bowe said in a statement issued Wednesday. "At a time of the year when the new spring season brings the promise of brighter days ahead, and commencement provides unending potential for so many of our students, it is truly sad that Taylor had his bright future taken away." The Belleville (Illinois) News-Democrat reported that Clark worked at a convenience store in Troy, where a candlelight vigil was scheduled for Wednesday night. A similar vigil was held Tuesday night on campus. Clark's death comes during the same week as a Monday court hearing in St. Charles County in which a 23-year-old man was sentenced to life in prison for fatally stabbing a 45-year-old St. Louis man during an encounter and planned robbery in 2012 that was set up through a Craigslist ad. On the same day of the hearing, Fairview Heights, Illinois, police unveiled a "safe exchange zone" on its parking lot, complete with security cameras, to help citizens safely broker online transactions with strangers.