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Turkish company says jets used illegally in Ghosn escape – CBC.ca

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A Turkish airline company says its jets were used illegally in former Nissan chair Carlos Ghosn’s escape from Japan. Istanbul-based MNG Jet said an employee falsified records and Ghosn’s name did not appear on any documentation related to the flights.

Ghosn earlier this week jumped bail in Japan and fled to Lebanon rather than face trial on financial misconduct charges, in a dramatic escape that has confounded and embarrassed authorities.

How he was able to flee Japan, avoiding the tight surveillance he was under while free on 1.5 billion yen (about $18- million Cdn) bail, is still a mystery, though Lebanese authorities have said he entered the country legally on a French passport.

Ghosn’s daring escape spanned three continents and involved private planes, multiple passports and international intrigue. Turkey detained seven people Thursday as part of an investigation into how he passed through the country, and they were appearing in court Friday. The private DHA news agency reported four pilots, a cargo company manager and two airport workers were detained.

Jet company employee under investigation

MNG Jet said Friday it had filed a criminal complaint in Turkey concerning the illegal use of its jet charter services.

It did not say who the complaint was against, and declined to answer followup questions because a criminal investigation is ongoing. It said one company employee, who was under investigation by the Turkish authorities, admitted to falsifying records and “confirmed that he acted in his individual capacity” without MNG Jet’s knowledge.

The company said it had leased two separate private jets: one private jet from Dubai to Osaka , Japan, and Osaka to Istanbul, and another private jet from Istanbul to Beirut.

“The two leases were seemingly not connected to each other. The name of Mr. Ghosn did not appear in the official documentation of any of the flights,” MNG Jet said in a statement. The statement did not say who leased the jets.

The company said it launched an internal investigation after learning through the media the leases benefited Ghosn and not the officially declared passengers on the planes.

The Turkish Interior Ministry spokesperson, Ismail Catakli, said “a transfer occurred in the [airport] cargo section in Istanbul. In this way, Turkey was used as a transit point.”

Wanted notice issued

On Thursday, Interpol issued a wanted notice for Ghosn. Lebanese Justice Minister Albert Serhan told The Associated Press in an interview that Lebanon “will carry out its duties,” suggesting for the first time the former automotive titan may be brought in for questioning. But he said Ghosn entered the country on a legal passport, and he appeared to cast doubt on the possibility Lebanon would hand Ghosn over to Japan.

Shortly after the Interpol notice, Ghosn issued a statement — his second this week — seeking to distance his Lebanese wife and family from any role in his escape.

“The allegations in the media that my wife Carole and other members of my family played a role in my departure from Japan are false and misleading. I alone organized my departure. My family played no role,” he said.

Ghosn, who is Lebanese and also holds French and Brazilian passports, was set to go on trial in Japan in April. He arrived in Lebanon on Monday via Turkey and hasn’t been seen in public since. In a statement Tuesday, he said he fled to avoid “political persecution” by a “rigged Japanese justice system.”

His lawyer in France, Francois Zimeray, told Japanese public broadcaster NHK TV that he was in frequent contact with Ghosn since Ghosn’s arrival in Lebanon, and appeared to be filled with “a fighting spirit.” Ghosn is eager to start clearing his name, at a news conference next week, Zimeray said.

Ghosn, who grew up in Beirut and frequently visited, is a national hero to many in this Mediterranean country with close ties to senior politicians and business stakes in a number of companies. People take special pride in Ghosn, who is credited with leading a spectacular turnaround at Nissan beginning in the late 1990s and rescuing the automaker from near bankruptcy.

Ghosn, who is charged in Japan with underreporting his future compensation and breach of trust, has repeatedly asserted his innocence, saying authorities trumped up charges to prevent a possible fuller merger between Nissan Motor Co. and Renault.

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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.

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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.

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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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