The Journal Gazette
Tuesday, December 03, 2019 1:00 am


New CEO says Nissan to restore credibility

News services

TOKYO – Nissan's new chief executive, Makoto Uchida, reaffirmed Monday the importance of the Japanese automaker's alliance with France's Renault as it strives to puts its financial scandals behind it.

A day after taking his post, Uchida told reporters he will emphasize transparency and work to restore Nissan Motor Co.'s credibility.

Uchida, who also is Nissan's president, takes over at a time of crisis, with sales and profits tumbling, after its former chairman, Carlos Ghosn, was arrested last year on various financial misconduct charges.

Uchida took over after Ghosn's successor, Hiroto Saikawa, was ensnared in a scandal of his own centered around dubious income.

T-Mobile to offer 5G phones Friday

T-Mobile US Inc. has jumped to an early lead in the race to offer 5G service nationwide, a step toward showing it can be a serious competitor to larger rivals if it gains approval for its $26.5 billion takeover of Sprint Corp.

Starting Friday, when T-Mobile stores begin offering their first two 5G phones, the service will be available across the country. But it won't be the much-vaunted 5G experience that wireless carriers have been promising: The service is on a low-band 600-megahertz signal, which provides broad coverage but not blazing speeds.

The offering is a precursor to a more robust network the company says will be made possible with the combination of Sprint's massive airwave holdings.

The 600-megahertz band covers large territories and travels through walls and deep into buildings.

Groups protest Amazon, Bezos

The optics war between Inc. and its critics intensified on Cyber Monday with labor, environmental and digital privacy groups staging events around the globe to amplify their concerns about the world's biggest online retailer.

At a first-ever Amazon Symposium in Brussels, activists discussed such issues as worker rights, antitrust laws and climate change. In snowy New York, more than three dozen demonstrators rallied outside the Manhattan penthouse of Chief Executive Officer Jeff Bezos.

The coordinated efforts sought to steer attention from the Cyber Monday discounts Amazon was offering to issues like warehouse worker deaths and injuries, the environmental costs of fast delivery and the increasing amount of information tech companies gather about customers.

Branson won't sell Virgin Atlantic stake

U.K. billionaire Richard Branson said he's scrapping the planned sale of a stake in Virgin Atlantic Airways in favor of retaining control and expanding the airline he founded.

Branson has reached a deal to abandon a two-year-old plan to sell part of the airline to Air France-KLM Group and will hang on to the 31% stake, keeping a 51% holding overall, he said in a letter to staff posted on his personal blog Monday. The accord is “subject to contract,” he said.

Air France-KLM had agreed to buy the stake for about $284 million in 2017 as part of a three-way venture with Delta Air Lines, which already owned 49% of Virgin Atlantic.


Sign up for our daily headlines newsletter

Top headlines are sent daily