Nissan May Be Fined $37 Million In Japan Over Ghosn's Pay

Nissan may be fined $37 million in Japan over Ghosn's pay

TOKYO — Japan's markets watchdog will likely recommend that the financial regulator fine Nissan up to 4 billion yen ($37 million) over the alleged underreporting of former Chairman Carlos Ghosn's compensation, a source said. The Securities and Exchange Surveillance Commission (SESC) will likely recommend the fine on the basis that Ghosn's alleged underreported salary had a "significant" impact on investor decisions regarding the company, the source said, declining to be identified. A spokesman for the SESC declined to comment on specific cases, while Nissan was not immediately available for comment. The SESC is expected to formally start its investigation before the end of the month, when it examines Nissan's latest annual filings, the source said. If Nissan files documentation to the SESC before the formal investigation begins and recognizes that previous reporting was incorrect, it may receive a reduced fine of around 2.4 billion yen, the source said. Ghosn was arrested in Tokyo in November over allegations of financial misconduct, including understating his salary by around 9.1 billion yen ($84.71 million) over a period of nearly a decade and temporarily transferring personal financial losses to the books of Nissan, Japan's No. 2 automaker. Since then, he has also been accused of enriching himself by around $5 million at Nissan's expense. Ghosn, who has been released from detention pending his trail, denies all of the charges. The fine, which was earlier reported by domestic media, would cover a four-year period through March 2018, the source said. Due to the statute of limitations, Nissan is not liable for any underreporting before that period.

Ps4 Sales Will Soon Cross 100 Million Units

PS4 Sales Will Soon Cross 100 Million Units


To say that the PlayStation 4 has been a massive hit for Sony would be an understatement. The console has consistently outsold the Xbox One and will soon cross another major milestone. According to the figures officially revealed by Sony, it won’t be long before the PS4 sales cross 100 million units.

Sony did caution last year that the PlayStation 4 sales had fallen for the very first time year-over-year. That has happened once again in 2019 but it’s still a pretty strong showing by Sony’s console. The company sold 17.8 million PS4 units in the fiscal year ending March 31st, slightly down from the 19 million units sold in the previous fiscal year.

Nintendo Switch Online Now Has 9.8 Million Subscribers

Nintendo Switch Online Now Has 9.8 Million Subscribers

For the first time ever, Nintendo decided to start charge gamers for access to its online gaming services, where they would need to pay a fee if they wished to be able to play with other gamers online. Given that Nintendo did not charge in the past, many were curious as to how players would react to this.

As it turns out, players are reacting pretty well. According to the latest figures, it has been revealed that Nintendo Switch Online is boasting 9.8 million subscribers. This number includes those who took part in the free trial and also those in family members, so it is unclear as to how many actual individual subscriptions there are, but it is still a pretty impressive figure given that the service only launched last year.

Apple Music Has Been Installed On 40 Million Android Devices

Apple Music Has Been Installed On 40 Million Android Devices

We know that some of you might have cringed a little when Apple announced that they would be launching Apple Music on Android. This is because of the divide between iOS and Android users, where it is very rare to see Apple bring its services to competing platforms. However, it’s not surprising as we imagine that Apple will probably want to attract as many customers as possible.

In fact, it seems that Apple’s decision to launch Apple Music on Android is paying off. According to the latest figures from Sensor Tower, it seems that Apple Music has been installed on 40 million Android devices to date. It also seems to be on a rise because about 2 years ago, Apple Music on Android was on the decline but for whatever reason, it has picked up again in popularity, but we can’t be sure why.

Gm To Invest $300 Million In Orion Plant To Build Evs And Avs

GM to invest $300 million in Orion plant to build EVs and AVs

General Motors will announce on Friday plans to invest $300 million in a suburban Detroit plant that builds electric and self-driving vehicles for Chevrolet and the automaker's self-driving Cruise unit, two people familiar with the plans said on Thursday. The largest U.S. automaker is expected to announce it plans to build a new electric compact vehicle for Chevy, said the people, who asked not to be identified. GM executives also will formally endorse a revised North American free trade deal known as USMCA, the sources said. GM declined to comment. Company executives are expected to make the case that the new EV — originally considered for one of GM's Chinese plants — is being built in the United States because of the new trade deal that is still awaiting approval by the U.S. Congress. GM has come under harsh attacks from President Donald Trump over its decision to end production at its Lordstown, Ohio, assembly plant. On Thursday, the company said its executives would be joined at the Orion plant by United Auto Workers union Vice President Terry Dittes and government officials to announce "a major new investment focused on the development of GM future technologies." GM Chief Executive Mary Barra is expected to make the formal announcement, which could add hundreds of jobs. The new Chevy vehicle is based on the same compact architecture as the Chevrolet Bolt EV and the Cruise AV that are assembled in Orion. The Orion Township plant is slated to begin building a new generation of electric and self-driving vehicles, using GM's dedicated BEV3 architecture, but not until 2023, a third source said. GM said a year ago it would invest $100 million to upgrade the Orion Township plant ahead of commercial production of the Cruise AV in late 2019. Rival Ford this week said it planned to expand its Flat Rock plant outside Detroit to add production of electric vehicles, an investment of more than $850 million expected to add 900 jobs. Ford's first self-driving vehicles will be assembled nearby at an as-yet-undisclosed location.

Honda To Recall 1.1 Million U.s. Vehicles To Re-replace Takata Airbags

Honda to recall 1.1 million U.S. vehicles to re-replace Takata airbags

Honda said on Tuesday it would recall about 1.1 million Honda and Acura vehicles in the United States to re-replace defective Takata airbags on the driver's side. The company said it was aware of one injury linked to the defect that may have caused the airbag to rupture when it was deployed in a crash. The vehicles involved in the recall were previously repaired using specific Takata desiccated replacement inflators (PSDI-5D) or entire replacement airbag modules containing these inflators. "Those replacement inflators," Honda said in a statement, "are now deemed defective." Free repairs of the recalled cars would begin immediately in the United States with replacement parts made by alternate suppliers, Honda said. Honda became aware of the issue after a Honda Odyssey crash, where the front airbag deployed and injured the driver's arm. An investigation later showed that manufacturing issues at Takata's Mexico facility introduced excessive moisture into the inflator during assembly, leading to the problem. The total number of recalled inflators is now about 21 million in about 12.9 million Honda and Acura vehicles that have been subject to recall for replacing Takata front airbag inflators in the United States, the company said. Automakers in the United States repaired more than 7.2 million defective Takata air bag inflators in 2018, as companies have ramped up efforts to track down parts in need of replacement.

Lexus Reaches 10 Million Sales Since Its Inception 30 Years Ago

Lexus reaches 10 million sales since its inception 30 years ago

Almost immediately after Matt Farah's famed second-generation LS400 became the million-mile Lexus, the Japanese luxury brand is celebrating another major milestone: Lexus has now sold 10 million vehicles globally.

The Toyota luxury division, whose first car debuted 30 years ago at the 1989 North American International Auto Show in Detroit, famously pursued "perfection" when it came to build quality and ownership experience. The smooth, V8-engined LS400 was quickly followed by smaller additions to the lineup, and in the time Lexus has been around, it has sold a wide range of vehicles, from the Camry-related ES line and Land Cruiser-related SUVs to the LFA supercar.