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Renault to alert prosecutors about Carlos Ghosn's wedding costs

PARIS — Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out. An internal probe established that a 2016 sponsorship deal with the Chateau de Versailles included a 50,000 euro ($57,000) personal benefit to Ghosn, the carmaker said on Thursday, confirming a report in Le Figaro. The carmaker replaced Ghosn on Jan. 24, more than two months after his arrest in Japan over allegations of financial misconduct uncovered by Renault's Japanese affiliate Nissan, which he also chaired. Renault began its own examination of payments to Ghosn within days of his detention but had not flagged any irregularities until now. Renault has discovered that "Mr Ghosn was accorded a personal benefit valued at 50,000 euros under the terms of a sponsorship contract with the Chateau de Versailles," the company said in a statement on Thursday. "Renault has decided to bring these findings to the attention of the judicial authorities." The office of Ghosn's Japanese lawyer Motonari Otsuru did not immediately respond to a request for comment. Ghosn remains in detention in Tokyo with limited opportunity to respond publicly to allegations against him. Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters. Le Figaro reported that the chateau allowed Ghosn to host his wedding reception on its grounds in exchange for Renault's donations to the Versailles estate, resplendent home to France's last kings. The rental fee was deducted from Renault's credit for use of the Grand Trianon at Versailles on Oct. 8, 2016, when Ghosn and his second wife Carole hosted their wedding reception at the 17th-century palace, the source said. The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes. The Renault board was informed about the discovery on Wednesday, as reported by Le Figaro, the source added. Earnings/Financials Government/Legal Mitsubishi Nissan Renault renault-nissan

2018 Mitsubishi Outlander Sport gets a mild makeover

While we wait for the upcoming Eclipse Cross and the Outlander Sport's smaller successor, Mitsubishi is doing everything it can to keep the current, aging Outlander Sport relevant. The latest move is a mild refresh inside and out. The company is also offering a new option package. All 2018 Outlander Sports receive slightly tweaked front and rear fascias. Up front, the most significant change is the addition of LED daytime running lights inset of each fog light. Just below them are new air inlets. The main grille with the Mitsubishi logo also now features two slim chrome bars. At the back, the rear bumper has a new faux skid plate in the center. On each flank are more angular reflectors. Inside, Mitsubishi says the center console and shift lever have been redesigned. More importantly, the Outlander Sport now has a 7-inch infotainment display that comes with Apple CarPlay and Android Auto. There's also a new Touring Package option. It adds a panoramic sunroof, some tweaks to make the car quieter and more refined, and safety features including forward collision mitigation, land departure warning, automatic high beam headlights, and a rear camera. The updated Outlander Sport will arrive at dealers this fall, but pricing has yet to be announced. Related Video:

Mitsubishi boss says US operations may break even next year

Mitsubishi has lost money in its North America operations every year since 2007, but in an interview at this week's Tokyo Motor Show, company president Osamu Masuko said, "If things keep going well, it might be the case that we break even this year," Automotive News reports.
A little context: Last month Mitsubishi predicted that it would lower its operating loss in the region to 4-billion yen ($40.7 million) by March 31, the end of the fiscal year, well below the previous fiscal year's operating loss of more than five times that amount. Reflecting that, production at the Japanese automaker's sole North American factory in Normal, Illinois, has grown to 56,630 vehicles through October, compared to 27,339 through the same period last year.
The plant makes the Outlander Sport for the US and for export to markets such as Russia, the Middle East and Latin America. Interestingly, out of the 56,630 Outlander Sports built at the Illinois plant through October, only 20,150 were sold in the US.