Shock wave. Nissan executives are considering a possible separation from Renault after the latest twists and turns in the Ghosn saga, reports the Financial Times. The Japanese authorities have also asked Interpol to issue a search warrant for Carole Ghosn, the wife of the former Nissan and Renault chairman, who has taken refuge in Lebanon. The Ghosn shock wave is still spreading.
A signal of confidence. The Peugeot family, which will hold a little more than 6% of the capital of the future PSA / Fiat Chrysler group, wants to exercise its option to acquire an additional 2.5% as soon as possible, it told French newspaper L'Est Républicain. "As soon as we are certain that the merger will be completed, my family will give favorable signals," said Jean-Philippe Peugeot, CEO of ‘Établissements Peugeot Frères’.
Collateral damage. Spirit Aerosystems could reduce its workforce by more than 15% due to the setbacks of Boeing's 737 MAX, according to an internal note that Reuters agency was able to consult. About 2,800 employees are affected in American plants. In this case, the FAA has announced that it is seeking to impose a $5.4 million fine on Boeing, accused of doing nothing to prevent the assembly of defective components on its 737 MAX. An amount that seems quite derisory considering the size of the company and the industrial stakes involved.
Marriage of reason. Hexcel and Woodward, two aeronautical suppliers, are going to merge. The marriage would create a company with annual revenues of $5.3 billion and 16,000 employees. The operation will take place in shares, with Hexcel shareholders receiving 0.625 Woodward shares, which will give Woodward shareholders 55% of the capital of the merged entity. Both companies are major suppliers to Boeing and Airbus.
Three in a row. Ford Motor has recorded a third consecutive year of sales contraction in China. Registrations fell by 26.1% to 567,854 vehicles. Overall, the market declined by 8.2% in 2019, after an 18th consecutive month of contraction in December, although the decline was limited to 0.1%.
Voluntary departures. Danske Bank announced a voluntary redundancy plan in Denmark for 2,000 people as part of its digital transformation. The bank has 11,000 employees in the country.
In other news. Siemens continues to participate in a controversial coal mine project in Australia, for which the group will provide rail access signage in Queensland. The Belgian competition authority has given the telecom regulator until March 16 to examine the network sharing deal between Orange Belgium and Proximus, following its referral by Telenet, without interim measures. Wirecard's chairman Wulf Matthias is leaving the company with immediate effect, replaced by Thomas Eichelmann. ThyssenKrupp is seeking to sell its industrial solutions division, according to the Financial Times. Exxon Mobil is negotiating its departure from Equatorial Guinea, possibly replaced by a Russian oil company. The low-cost British airline Flybe is reportedly in deep trouble. Celyad administers a first patient with CYAD-02. Astrazeneca abandons its Phase III STRENGHT trial with Epanova in dyslipidemia. Lululemon raises its forecast.