Former Nissan chief Ghosn leaves jail after posting bail | Calamatta Cuschieri

This article is about Carlos Ghosn, who has been in a detention for more than 100 days, released from Tokyo jail after posting $9m bail. It also includes overview of Maltese, European and U.S. markets on Tuesday

Former Nissan chief Carlos Ghosn has been released from jail after posting a bail of 1 billion yen ($9m) in cash on Wednesday
Former Nissan chief Carlos Ghosn has been released from jail after posting a bail of 1 billion yen ($9m) in cash on Wednesday

Markets overview

The Maltese market closed in the green on Tuesday, with MSE Equity Total Return Index ending the session 0.2% higher, to 9,085.513 points. Top gainer was Malta Properties Company plc followed by Midi plc, adding 3.64% and 3.17% to close at 0.57 and 0.65 respectively, while GO plc raised 1.75% to 4.66. Bank of Valletta plc and HSBC Bank Malta plc also closed on positive note by adding 0.80% and 1.25% to close at 1.26 and 1.62 respectively. The biggest faller was Lombard Bank Malta which closed 7.38% lower, to 2.26, followed by BMIT Technologies plc and RS2 Software plc which shed 2.83% and 2.07% to close at 0.515 and 1.42 respectively.

Europe’s markets mostly held around the flat line Tuesday, but banks were under pressure amid reports on a fresh money laundering scandal, while investors kept an eye on China’s economy and Wall Street on the heels of a tough session for U.S. equities. The Stoxx Europe 600 slipped 0.2% to 374.44. The FTSE 100 led the region’s top gainers, climbing 0.7% to 7,189.92, with Italy’s FTSE MIB giving up an early lead to slip 0.1% to 20,694.12. Meanwhile, the German DAX eased 0.1% to 11,576.30, France’s CAC 40 eased 0.1% to 5,280.51 and Spain’s IBEX 35 fell 0.4% to 9,217.10.

U.S. stocks struggled for direction on Tuesday, spending most of the session jumping between gains and losses before closing mostly unchanged. At the closing bell, the Dow Jones Industrial Average had fallen less than 0.1%, closing at 25,807, the S&P 500 fell 0.1% to 2,789 and the Nasdaq Composite Index was unchanged at 7,576. Investors are still fretting the outcome of the ongoing trade talks between the U.S. and China.

Carlos Ghosn: former Nissan chairman released on bail in Tokyo

Former Nissan chief Carlos Ghosn has been released from jail after posting a bail of 1 billion yen ($9m) in cash on Wednesday, more than three months after he was arrested. The business tycoon walked out of the detention center in northern Tokyo after the court rejected a last-ditch appeal from prosecutors to block his release. Ghosn once again proclaimed his innocence of the charges levelled against him, which include claims he under-reported his salary and sought to shift personal losses to Nissan's books.

The surprise court ruling granting Ghosn bail came after two unsuccessful previous attempts to win release and was the latest twist in a case that has gripped Japan and the business world since the auto industry titan's November 19 arrest. Ghosn shook up his legal team last month, hiring renowned defense lawyer Junichiro Hironaka, who quickly filed a new bail request. The court had previously justified Ghosn's ongoing detention, saying he posed a flight risk and could seek to destroy evidence, so Hironaka's bail request offered restrictions intended to win the court's trust. The bail terms prevent Ghosn from leaving Japan and include other measures restricting his communications.

If convicted on all charges, Ghosn faces up to 15 years in jail.

Disclaimer: This article was issued by Nadiia Grech, junior trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website. 

 

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