Air turbulence: When can it become dangerous?
Flight turbulence like that encountered by a Singapore Airlines flight on Tuesday is extremely common, but there's one aspect of severe turbulence an aviation expert says can lead to serious injury.
Nissan and Renault have agreed to equalize the stakes they hold in each other, both sides said Monday, ironing out a source of conflict in the Japan-French auto alliance.
Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say in how the Japanese automaker is run. It will transfer shares equivalent to a 28.4% stake to a French trust so each side will hold the same 15% stake in the other, according to the companies.
The disparity between the holdings was a cause of friction, especially after Nissan became far more profitable than Renault.
The agreement on the change is still being finalized and needs board approval from both companies.
The companies said the shares in the French trust can eventually be sold but did not say to whom or how. They said the sale will be carried out in a "coordinated and orderly process" if a deal makes commercial sense to Renault Group, and that there is no time deadline.
Until then, the voting rights would be "neutralized" for most managerial decisions, but the economic rights, such as dividends, will continue to go to Renault, the companies said.
The top shareholder in Renault is the French government. Japanese Prime Minister Fumio Kishida met with French President Emmanuel Macron earlier this month.
The alliance has had its ups and downs since it began in 1999, when Renault sent one of its executives, Carlos Ghosn, to then-struggling Nissan to lead a turnaround. Ghosn first served as Nissan's chief executive and later its chairman before he was arrested in late 2018 on various financial misconduct charges.
The alliance, which also includes smaller Japanese automaker Mitsubishi Motor Corp. and remains one of the world's top auto groups, has been eager to put the Ghosn scandal behind it.
Allegations against Ghosn include underreporting income, using investment funds for personal gain and illicit use of company expenses, including overseas homes and a yacht. Ghosn said he is innocent of all charges. He jumped bail in late 2019 and is now in Lebanon, which has no extradition treaty with Japan.
The equalization of the crossholdings has been speculated about for some time.
The companies called the move "an important milestone."
"The ambition is to strengthen the ties of the alliance and maximize value creation for all stakeholders," said Nissan, based in the port city of Yokohama.
The agreement calls for Nissan to invest in Ampere, an electric vehicle and software company founded by Renault. Details of the investment were not released. The companies will also work together on marketing, vehicles and technology in Latin America, India and Europe, they said.
Nissan makes the Leaf electric car and the Infiniti luxury models.
The announcement underlines the automakers' efforts to work together to ride out the avalanche of changes underway in a highly competitive industry. With worries growing about climate change, global markets are pushing electric vehicles and other cleaner modes of transportation.
Flight turbulence like that encountered by a Singapore Airlines flight on Tuesday is extremely common, but there's one aspect of severe turbulence an aviation expert says can lead to serious injury.
British Columbia serial killer Robert Pickton was attacked and sustained life-threatening injuries in a Quebec prison Sunday in what officials described as a 'major assault.'
World Food Programme executive director Cindy McCain says people living in Gaza are 'wasting' as famine concerns continue amid the war between Israel and Hamas.
New inflation data is 'welcome news' for consumers and an economist says it could signal the possibility for a interest rate cut as several core measures also continue to ease.
The Toronto Blue Jays have offered tickets and a signed baseball to a fan who says she was struck in the face by a 110 m.p.h (177 km/h) foul ball at Friday’s game.
Ontario Provincial Police continue to investigate a long weekend fatal boat collision on Bobs Lake, north of Kingston, Ont.
An investigation has been opened into the death of Matthew Perry and how the “Friends” actor received the anesthetic ketamine, which was ruled a contributing factor in his death.
House of Commons Speaker Greg Fergus is facing fresh Conservative-led calls to resign, this time over "very partisan" and 'inflammatory' language used – the Liberals say mistakenly – to promote an upcoming event.
As Prime Minister Justin Trudeau continues the 'Team Canada' charm offensive to U.S. lawmakers and business leaders, Canada's ambassador to the United States downplayed the effect of another Trump presidency on Canada.
Public libraries in Atlantic Canada are now lending a broader range of items.
Flashes of purple darting across the sky mixed with the serenading sound of songs will be noticed more with spring in full force in Manitoba.
Catching 'em all with impressive speed, a 7-year-old boy from Windsor, Ont. who only started his competitive Pokémon journey seven months ago has already levelled up to compete at a world championship level.
A sanctuary dedicated to animals with disabilities is celebrating the third birthday of one of its most popular residents.
2b Theatre recently moved into the old Video Difference building, seeking to transform it into an artistic hub, meeting space, and temporary housing unit for visiting performers in Halifax.
A B.C. woman says her service dog pulled her from a lake moments before she had a seizure, saving her life.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.