Ex-Nissan boss Carlos Ghosn says he fled Japan for Lebanon over ‘rigged’ justice system | Canada News Media
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Ex-Nissan boss Carlos Ghosn says he fled Japan for Lebanon over ‘rigged’ justice system

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Former Nissan Motor Chairman Carlos Ghosn leaves the Tokyo Detention House in Tokyo, Japan, April 25, 2019. Issei Kato/Reuters

Nissan’s former Chairman Carlos Ghosn said Tuesday from Lebanon he was not fleeing justice but instead left Japan to avoid “injustice and political persecution” over financial misconduct allegations during his tenure leading the automaker.

Ghosn had been released on bail by a Tokyo court while awaiting trial but was not allowed to travel overseas. He disclosed his location in a statement through his representatives that did not describe how he left Japan, where he had been under surveillance. He promised to talk to reporters next week.

“I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied, in flagrant disregard of Japan’s legal obligations under international law and treaties it is bound to uphold,” the statement said.

Japanese media quoted prosecutors speaking anonymously who said they did not know how Ghosn had left.

Ghosn, who is of Lebanese origin and holds French, Lebanese and Brazilian passports, was arrested in November 2018 and was expected to face trial in April 2020.

Prosecutors fought his release, but a court granted him bail with conditions that he be monitored and he could not meet with his wife Carole, who is also of Lebanese origin. Recently the court allowed them to speak by video calls.

Japan does not have an extradition treaty with Lebanon. It is unclear what steps the authorities might take.

Ghosn has repeatedly asserted his innocence, saying authorities trumped up charges to prevent a possible fuller merger between Nissan Motor Co. and alliance partner Renault SA.

He has been charged with under-reporting his future compensation and of breach of trust.

During his release on bail, Ghosn had been going daily to the office of his main lawyer Junichiro Hironaka to work on his case.

Hironaka told reporters Tuesday afternoon he was stunned that Ghosn had jumped bail and denied any involvement in or knowledge of the escape. He said the lawyers had all of Ghosn’s three passports and was puzzled by how he could have left the country.

The last time he spoke to Ghosn was on Christmas Day, and he has never been consulted about leaving for Lebanon, Hironaka told reporters outside his law office in Tokyo.

He said the lawyers still need to decide on their next action, besides filing a required report to the judicial authorities. His office was closed for New Year’s holidays in Japan.

“Maybe he thought he won’t get a fair trial,” Hironaka said, stressing he continues to believe Ghosn is innocent. “I can’t blame him for thinking that way.”

He called the circumstances of Ghosn’s arrest, the seizure of evidence and the strict bail conditions unfair.

Ghosn had posted 1.5 billion yen ($14 million) bail on two separate releases. Ghosn had been rearrested on additional charges after an earlier release.

Earlier, Ricardo Karam, a television host and friend of Ghosn, told The Associated Press that Ghosn arrived in Lebanon on Monday morning.

“He is home,” Karam told the AP in a message. “It’s a big adventure.”

Karam declined to elaborate.

Lebanon-based newspaper Al-Joumhouriya said Ghosn arrived in Beirut from Turkey aboard a private jet.

Ghosn was credited with leading a spectacular turnaround at Nissan beginning in the late 1990s, rescuing the automaker from near-bankruptcy.

The Lebanese took special pride in the auto industry icon, who speaks fluent Arabic and visited regularly. Born in Brazil, where his Lebanese grandfather had sought his fortune, Ghosn grew up in Beirut, where he spent part of his childhood at a Jesuit school.

Before his fall from grace, Ghosn was also a celebrity in Japan, revered for his managerial acumen.

Nissan did not have immediate comment. The Japanese automaker of the March subcompact, Leaf electric car and Infiniti luxury models, has also been charged as a company in relation to Ghosn’s alleged financial crimes.

Japanese securities regulators recently recommended Nissan be fined 2.4 billion yen ($22 million) over disclosure documents from 2014 through 2017. Nissan has said it accepted the penalty and had corrected its securities documents in May.

Its sales and profits have tumbled and its brand image is tarnished. It has acknowledged lapses in its governance and has promised to improve its transparency.

Another Nissan former executive Greg Kelly, an American, was arrested at the same time as Ghosn and is awaiting trial. He has said he is innocent.

Hiroto Saikawa, who replaced Ghosn as head of Nissan, announced his resignation in September after financial misconduct allegations surfaced against him related to dubious income. He has not been charged with any crime.

The conviction rate in Japan exceeds 99% and winning an acquittal through a lengthy appeals process could take years. Rights activists in Japan and abroad say its judicial system does not presume innocence enough and relies heavily on long detentions that lead to false confessions.

The charges Ghosn faces carry a maximum penalty of 15 years in prison.

Ghosn’s case has drawn intense media attention in Japan. In one instance when he was released from custody in March, the former executive normally seen in luxury suits wore a surgical mask and dressed like a construction worker to avoid media scrutiny under the advice of one of his lawyers. Japanese media still spotted him and followed his car.

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Telus prioritizing ‘most important customers,’ avoiding ‘unprofitable’ offers: CFO

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Telus Corp. says it is avoiding offering “unprofitable” discounts as fierce competition in the Canadian telecommunications sector shows no sign of slowing down.

The company said Friday it had fewer net new customers during its third quarter compared with the same time last year, as it copes with increasingly “aggressive marketing and promotional pricing” that is prompting more customers to switch providers.

Telus said it added 347,000 net new customers, down around 14.5 per cent compared with last year. The figure includes 130,000 mobile phone subscribers and 34,000 internet customers, down 30,000 and 3,000, respectively, year-over-year.

The company reported its mobile phone churn rate — a metric measuring subscribers who cancelled their services — was 1.09 per cent in the third quarter, up from 1.03 per cent in the third quarter of 2023. That included a postpaid mobile phone churn rate of 0.90 per cent in its latest quarter.

Telus said its focus is on customer retention through its “industry-leading service and network quality, along with successful promotions and bundled offerings.”

“The customers we have are the most important customers we can get,” said chief financial officer Doug French in an interview.

“We’ve, again, just continued to focus on what matters most to our customers, from a product and customer service perspective, while not loading unprofitable customers.”

Meanwhile, Telus reported its net income attributable to common shares more than doubled during its third quarter.

The telecommunications company said it earned $280 million, up 105.9 per cent from the same three-month period in 2023. Earnings per diluted share for the quarter ended Sept. 30 was 19 cents compared with nine cents a year earlier.

It reported adjusted net income was $413 million, up 10.7 per cent year-over-year from $373 million in the same quarter last year. Operating revenue and other income for the quarter was $5.1 billion, up 1.8 per cent from the previous year.

Mobile phone average revenue per user was $58.85 in the third quarter, a decrease of $2.09 or 3.4 per cent from a year ago. Telus said the drop was attributable to customers signing up for base rate plans with lower prices, along with a decline in overage and roaming revenues.

It said customers are increasingly adopting unlimited data and Canada-U.S. plans which provide higher and more stable ARPU on a monthly basis.

“In a tough operating environment and relative to peers, we view Q3 results that were in line to slightly better than forecast as the best of the bunch,” said RBC analyst Drew McReynolds in a note.

Scotiabank analyst Maher Yaghi added that “the telecom industry in Canada remains very challenging for all players, however, Telus has been able to face these pressures” and still deliver growth.

The Big 3 telecom providers — which also include Rogers Communications Inc. and BCE Inc. — have frequently stressed that the market has grown more competitive in recent years, especially after the closing of Quebecor Inc.’s purchase of Freedom Mobile in April 2023.

Hailed as a fourth national carrier, Quebecor has invested in enhancements to Freedom’s network while offering more affordable plans as part of a set of commitments it was mandated by Ottawa to agree to.

The cost of telephone services in September was down eight per cent compared with a year earlier, according to Statistics Canada’s most recent inflation report last month.

“I think competition has been and continues to be, I’d say, quite intense in Canada, and we’ve obviously had to just manage our business the way we see fit,” said French.

Asked how long that environment could last, he said that’s out of Telus’ hands.

“What I can control, though, is how we go to market and how we lead with our products,” he said.

“I think the conditions within the market will have to adjust accordingly over time. We’ve continued to focus on digitization, continued to bring our cost structure down to compete, irrespective of the price and the current market conditions.”

Still, Canada’s telecom regulator continues to warn providers about customers facing more charges on their cellphone and internet bills.

On Tuesday, CRTC vice-president of consumer, analytics and strategy Scott Hutton called on providers to ensure they clearly inform their customers of charges such as early cancellation fees.

That followed statements from the regulator in recent weeks cautioning against rising international roaming fees and “surprise” price increases being found on their bills.

Hutton said the CRTC plans to launch public consultations in the coming weeks that will focus “on ensuring that information is clear and consistent, making it easier to compare offers and switch services or providers.”

“The CRTC is concerned with recent trends, which suggest that Canadians may not be benefiting from the full protections of our codes,” he said.

“We will continue to monitor developments and will take further action if our codes are not being followed.”

French said any initiative to boost transparency is a step in the right direction.

“I can’t say we are perfect across the board, but what I can say is we are absolutely taking it under consideration and trying to be the best at communicating with our customers,” he said.

“I think everyone looking in the mirror would say there’s room for improvement.”

This report by The Canadian Press was first published Nov. 8, 2024.

Companies in this story: (TSX:T)

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TC Energy cuts cost estimate for Southeast Gateway pipeline project in Mexico

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CALGARY – TC Energy Corp. has lowered the estimated cost of its Southeast Gateway pipeline project in Mexico.

It says it now expects the project to cost between US$3.9 billion and US$4.1 billion compared with its original estimate of US$4.5 billion.

The change came as the company reported a third-quarter profit attributable to common shareholders of C$1.46 billion or $1.40 per share compared with a loss of C$197 million or 19 cents per share in the same quarter last year.

Revenue for the quarter ended Sept. 30 totalled C$4.08 billion, up from C$3.94 billion in the third quarter of 2023.

TC Energy says its comparable earnings for its latest quarter amounted to C$1.03 per share compared with C$1.00 per share a year earlier.

The average analyst estimate had been for a profit of 95 cents per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:TRP)

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BCE reports Q3 loss on asset impairment charge, cuts revenue guidance

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BCE Inc. reported a loss in its latest quarter as it recorded $2.11 billion in asset impairment charges, mainly related to Bell Media’s TV and radio properties.

The company says its net loss attributable to common shareholders amounted to $1.24 billion or $1.36 per share for the quarter ended Sept. 30 compared with a profit of $640 million or 70 cents per share a year earlier.

On an adjusted basis, BCE says it earned 75 cents per share in its latest quarter compared with an adjusted profit of 81 cents per share in the same quarter last year.

“Bell’s results for the third quarter demonstrate that we are disciplined in our pursuit of profitable growth in an intensely competitive environment,” BCE chief executive Mirko Bibic said in a statement.

“Our focus this quarter, and throughout 2024, has been to attract higher-margin subscribers and reduce costs to help offset short-term revenue impacts from sustained competitive pricing pressures, slow economic growth and a media advertising market that is in transition.”

Operating revenue for the quarter totalled $5.97 billion, down from $6.08 billion in its third quarter of 2023.

BCE also said it now expects its revenue for 2024 to fall about 1.5 per cent compared with earlier guidance for an increase of zero to four per cent.

The company says the change comes as it faces lower-than-anticipated wireless product revenue and sustained pressure on wireless prices.

BCE added 33,111 net postpaid mobile phone subscribers, down 76.8 per cent from the same period last year, which was the company’s second-best performance on the metric since 2010.

It says the drop was driven by higher customer churn — a measure of subscribers who cancelled their service — amid greater competitive activity and promotional offer intensity. BCE’s monthly churn rate for the category was 1.28 per cent, up from 1.1 per cent during its previous third quarter.

The company also saw 11.6 per cent fewer gross subscriber activations “due to more targeted promotional offers and mobile device discounting compared to last year.”

Bell’s wireless mobile phone average revenue per user was $58.26, down 3.4 per cent from $60.28 in the third quarter of the prior year.

This report by The Canadian Press was first published Nov. 7, 2024.

Companies in this story: (TSX:BCE)

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