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☆ Japan's struggling Rakuten to combine credit card and mobile payments business
▼ + stars: | 2023-08-10 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set the struggling e-commerce company up to eventually list the card business. It has turned to listing some of its units - including its popular internet banking business, Rakuten Bank (5838.T) - to generate cash. The company said on Thursday it plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit. Rakuten Card will become the "driving force" behind its integrated payments business and may form strategic partnerships with other companies as well as "raising its own capital as necessary", Rakuten said in a statement. Users accumulate points by using Rakuten credit cards, shopping and insurance services.

Persons: Sam Nussey TOKYO, Rakuten, Tareq Amin, Anton Bridge, Jamie Freed, David Dolan, Gerry Doyle Organizations: REUTERS, Rakuten Bank, Rakuten, Public, NHK, Refinitiv, Thomson Locations: Rakuten, Tokyo, Japan

☆ Honda posts 78% jump in Q1 operating profit
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] The Honda logo is displayed at the 44th Bangkok International Motor Show in Bangkok, Thailand, March 23, 2023. REUTERS/Athit Perawongmetha/File PhotoCompanies Honda Motor Co Ltd FollowTOKYO, Aug 9 (Reuters) - Japan's Honda Motor (7267.T) reported a 78% rise in quarterly profit on Wednesday, boosted by both increased sales, especially in the North American market, and a weaker yen. Japan's second-biggest automaker by sales said operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion yen estimate in a poll of 10 analysts by Refinitiv. That compared with a 222.2 billion yen profit in the same period last year. Honda maintained its forecast for a 1.0 trillion yen operating profit for the current year, lower than the 1.117 trillion yen average forecast from 22 analysts.

Persons: Athit, Japan's, Daniel Leussink, David Dolan, Chang, Ran Kim Organizations: REUTERS, Honda Motor, Honda, Refinitiv, Thomson Locations: Bangkok, Thailand, American

☆ Apple and Samsung to invest in SoftBank's Arm at IPO -Nikkei
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoTOKYO, Aug 8 (Reuters) - Apple (AAPL.O) and Samsung Electronics (005930.KS) will invest in SoftBank Group (9984.T)-owned chip designer Arm at its initial public offering (IPO), expected in September, Japan's Nikkei newspaper reported on Tuesday. Reuters reported in June that Arm was in talks with some ten companies - including Apple, Samsung and Intel (INTC.O) - with the aim of bringing on one or more anchor investors in the offering. Last month, Reuters and other media reported that Arm was in talks to bring in U.S. chip designer Nvidia (NVDA.O) as an anchor investor for the New York listing. Apple, Samsung, Nvidia and Intel all plan to invest in Arm as soon as it is listed on the market, the Nikkei said. Apple, Nvidia and Intel did not immediately respond to a Reuters' request for comment.

Persons: Dado Ruvic, SoftBank, Masayoshi, Anton Bridge, Elaine Lies, Joyce Lee, Akash Sriram, Louise Heavens, David Dolan, Miyoung Kim, Sharon Singleton Organizations: REUTERS, Samsung Electronics, SoftBank, Japan's Nikkei, Reuters, Apple, Samsung, Intel, Nvidia, New, Nikkei, U.S . Securities, Exchange Commission, Vision Fund, Thomson Locations: KS, New York, Tokyo, Seoul

☆ Not everyone is convinced the US will avoid a recession
▼ + stars: | 2023-08-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

New York CNN —The case for no US recession is building, but some on Wall Street are cautioning against getting overconfident. That has raised hopes among investors that the United States could avoid a recession despite the Federal Reserve’s aggressive pace of interest rate hikes. Still, some investors are maintaining that the US economy could tip into a recession later this year. The index of leading economic indicators is just kind of at an extreme rating. One of the reasons for the rise in equity valuations in recent weeks was the pricing out of recession or economic weakness.

Persons: Michael Gapen, Michael Feroli, ”, Bell, David Donabedian, we’ve, There’s, Catherine Thorbecke, Danielle Romain, Romain, Read, Uno Mattel, Uno Quatro, Ellie Stevens, “ We’re, Ray Adler Organizations: CNN Business, Bell, New York CNN, Bank of America, ” Bank of America, JPMorgan Chase’s, CIBC Private Wealth, Fitch, Google, Trust, Mattel, Uno Locations: New York, United States, New York City

☆ Arts Calendar: Happenings for the Week of August 6
▼ + stars: | 2023-08-06 | by ( Wsj Arts In Review Staff | ) www.wsj.com time to read: 1 min

Uzo Aduba and Matthew Broderick in ‘Painkiller’ Photo: NETFLIXFilm• “The Last Voyage of Demeter” (Aug. 11): If sailors thought scurvy was the scariest threat they’d face at sea they’d be wrong—at least if they had Dracula on board as an unwelcome stowaway. The new film from André Øvredal (“The Autopsy of Jane Doe”), based on a chapter of Bram Stoker ’s classic horror novel, stars Corey Hawkins , Aisling Franciosi, Liam Cunningham , David Dastmalchian and Javier Botet in a tale of nautical haunting.

Persons: Uzo Aduba, Matthew Broderick, ‘ Painkiller, Demeter ”, André, Jane Doe ”, Bram Stoker ’, Corey Hawkins, Aisling Franciosi, Liam Cunningham, David Dastmalchian, Javier Botet Organizations: NETFLIX

The opera star David Daniels, one of the world’s leading countertenors, pleaded guilty on Friday in Houston to sexually assaulting a young singer who had attended one of his performances there in 2010. The plea deal was announced just as the trial of Mr. Daniels, 57, and his husband, Scott Walters, 40, was about to begin. Mr. Daniels pleaded guilty to a charge of sexual assault of an adult, a second-degree felony. He avoided a more serious charge of aggravated sexual assault, a first-degree felony, which carries harsher penalties. Mr. Walters, who was facing the same charges, pleaded guilty under similar terms.

Persons: David Daniels, Daniels, Scott Walters, Samuel Schultz, . Walters, Matt Hennessy, Walters, Judge Reagan Clark Organizations: Court Locations: Houston, Georgia, Harris County

☆ What to Know About the Opera Star David Daniels’s Sexual Assault Trial
▼ + stars: | 2023-08-04 | by ( Javier C. Hernández | More About Javier C. Hernández | ) www.nytimes.com time to read: +1 min

The opera star David Daniels, one of the world’s leading countertenors, is expected to go on trial in Houston this week over charges that he sexually assaulted a young singer after a performance there in 2010. Mr. Daniels and Mr. Walters have denied the accusations, saying they had consensual sex with Mr. Schultz. Mr. Daniels is one of the most prominent classical stars to face criminal charges during the national #MeToo reckoning. Opening arguments are scheduled to begin in Houston on Friday morning. Mr. Daniels, 57, and Mr. Walters, 40, each face one felony count of aggravated sexual assault.

Persons: David Daniels, Daniels, Scott Walters, Samuel Schultz, Walters, Schultz, Mr Organizations: Attorney’s, University of Michigan Locations: Houston, Harris County, Texas

☆ Ten Hag primed to end false dawns at Man United
▼ + stars: | 2023-08-04 | by ( Aadi Nair | ) www.reuters.com time to read: +3 min

Since United last won the Premier League title under Alex Ferguson in 2013, David Moyes, Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer have all failed to revive former glories - but Ten Hag appears to be making progress. Last year, he took charge of a United side that had collected their lowest-ever Premier League points tally (58) in the 2021-22 season and were in a five-year trophy drought. The turnaround has been remarkable, with a top-four finish in the Premier League, the League Cup trophy and a place in the FA Cup final to show for last season. "I think the difference is, with reference to last year, now we have the foundation with this squad," Ten Hag told reporters. If Ten Hag can stop the uncertainty over the club's ownership from spilling over into his dressing room, United have reason to believe they can challenge seriously to win the Premier League and end the recent dominance of Manchester City.

Persons: Erik, Hag, Tony Obrien, Alex Ferguson, David Moyes, Louis van Gaal, Jose Mourinho, Ole Gunnar Solskjaer, Bruno Fernandes, Lisandro Martinez, England's Mason, Andre Onana, David de Gea, Dane Rasmus Hojlund, Marcus Rashford, Cristiano, Harry Maguire, Aadi Nair, Ed Osmond Organizations: Soccer, Manchester United, Newcastle United, Wembley, Carabao, United, Premier League, Ajax, League, FA, Liverpool, Brentford, Manchester City, Sevilla, Atalanta, United's U.S, Wolverhampton Wanderers, Thomson Locations: London, Britain, Casemiro, Bengaluru

☆ Toyota nearly doubles Q1 profit, China remains challenging
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

The world's top-selling automaker said operating profit for the three months through June totalled 1.12 trillion yen ($7.85 billion), an increase of 94% from a year earlier, beating the average 945.22 billion yen profit estimate in a poll of 10 analysts by Refinitiv. Last year's operating profit was 578.66 billion yen in the first quarter. Toyota maintained its forecast for a 3.0 trillion yen profit for the current year, as the conditions it faced had not changed greatly from three months earlier. That forecast compared to a 3.6 trillion yen average forecast from 23 analysts. In North America, another key market, Toyota said it had benefited from pent-up demand among consumers as the impact of a post-pandemic chip shortage wanes.

Persons: Daniel Leussink, David Dolan, Miral Organizations: Toyota, Refinitiv, Lexus, Thomson Locations: TOKYO, China, North America, Japan

☆ Toyota to boost EV development and technology in China
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 31 (Reuters) - Toyota (7203.T) will strengthen its development of electric vehicle technology in China, the automaker said on Monday, as it looks to catch up with increasingly tough domestic competition in the world's largest auto market. The move is the latest from the world's top selling carmaker that shows a sharper pivot to electric vehicles. It recently detailed an ambitious new EV strategy that includes an overhaul of its supply chain and the development of long-range batteries. Toyota said on Monday it would accelerate powertrain development with suppliers Denso (6902.T) and Aisin (7259.T) as well as local design and development of "smart cockpits" that meet the needs of the Chinese market. It will strengthen development of battery-powered vehicles, plug-in hybrids, hybrids and fuel cell cars in China in order to achieve carbon neutrality through a "multi-pathway"-based approach, it said.

Persons: Daniel Leussink, David Dolan Organizations: Toyota, Thomson Locations: TOKYO, China

☆ Panasonic Q1 profit rises 42%, in line with market expectations
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

TOKYO, July 31 (Reuters) - Japan's Panasonic Holdings (6752.T) on Monday posted a 42% rise in first-quarter profit to 90.37 billion yen ($636 million), largely matching analysts' estimates. Operating profit for the three months to end-June compared with an average estimate of 91.18 billion yen in a poll of 11 analysts by Refinitiv and a 63.7 billion yen operating profit in the same period a year earlier. ($1 = 142.0400 yen)Reporting by Daniel Leussink; editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Leussink, David Dolan Organizations: Japan's Panasonic Holdings, Refinitiv, Thomson Locations: TOKYO

☆ 'Oracle of Boston' Seth Klarman's value investing principles have stood the test of time
▼ + stars: | 2023-07-31 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Baupost Group's Seth Klarman, nicknamed "the Oracle of Boston," is revered in value investing circles for his disciplined investment philosophy, maybe because his style has stood the test of time. The billionaire hedge fund manager has been an almost religious follower of Benjamin Graham's investing style, buying out-of-favor and undervalued assets to ensure a margin of safety. Klarman has drawn comparisons to Warren Buffett — Buffett being a student of Graham's at Columbia University — for his patient, disciplined investment style. The 66-year-old Harvard and Cornell grad published his investment book, "Margin of Safety," in 1991. The hedge fund manager posted a mid-single digit decline last year, beating the S & P 500 which fell nearly 20%, the Financial Times reported.

Persons: Baupost, Seth Klarman, Benjamin Graham's, Klarman, Warren Buffett — Buffett, Columbia University —, Benjamin Graham, David Dodd, Klarman hasn't Organizations: Oracle, Boston, Columbia University, Harvard, Cornell grad, CNBC, Financial Times Locations: Baupost

☆ Panasonic Q1 profit jumps, maintains FY forecast
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

Panasonic, whose energy unit makes batteries for Tesla Inc (TSLA.O), said operating profit came to 90.37 billion yen ($637 million) in the three months to end-June, versus the 91.18 billion yen average forecast in a poll of 11 analysts by Refinitiv. Its battery unit, Panasonic Energy, and Subaru (7270.T) said they have started talks to establish a battery supply partnership for electric vehicles that would supply the Japanese automaker with cylindrical lithium-ion batteries. Panasonic, whose products span consumer electronics and delivery robots to sensing cameras and self-checkout systems, maintained its full-year forecast at 430 billion yen. That compared to a 413.96 billion yen average profit forecast in a poll of 20 analysts by Refinitiv. ($1 = 141.9500 yen)Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

Persons: Daniel Leussink, David Dolan Organizations: Japan's Panasonic Holdings, Panasonic, Tesla Inc, Refinitiv, Panasonic Energy, Subaru, Reuters, Thomson Locations: TOKYO

☆ Inside TikTok's pitch to get marketers selling on Shops, and why the biggest brands are wary of investing
▼ + stars: | 2023-07-31 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

US brands are testing TikTok's shopping feature that competes with Amazon. TikTok Shops charges lower fees than Amazon, but it requires too many resources from brands. Many big brands are also investing in loyalty programs that don't connect well with social commerce features, she said. He said that his agency has 25 clients that plan to use TikTok Shop, and half of those brands are already live. WPromote's early results show that running TikTok Shop ads are driving sales, Dweck said, though he did not provide specifics.

Persons: TikTok, it's, Rachel Tipograph, they've, Vic Drabicky, Drabicky, Tipograph, Carly Carlson, PMG, Digital's Drabicky, David Dweck, Dweck Organizations: Amazon

☆ Reddit throughout the years: Its rise to prominence, recent revolts and IPO plans
▼ + stars: | 2023-07-30 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

The price hikes have led some beloved third-party Reddit apps such as Apollo to shut down, instigating an uproar among the website's community of volunteer moderators, who often rely on third-party apps to run the site's 100,000+ discussion communities, called subreddits. But tensions remain high, and some say that if Reddit doesn't rebuild trust, its most passionate users will go elsewhere. Ohanian rejoined Reddit as executive chairman in 2014 and Huffman rejoined as CEO the next year. But it's not just tech giants who use Reddit's API. These third-party apps are largely just alternatives to Reddit's official mobile app, which didn't even exist until 2016.

Persons: Reddit, David DeWald, Alexis Ohanian, Steve Huffman, Paul Graham, Ohanian, Huffman, Y Combinator, Condé Nast, Debra Aho Williamson, George Floyd's, it's, Apollo, Jakub Porzycki Organizations: University of Virginia, Advance, Facebook, Insider Intelligence, GameStop, AMC, Google, Getty

For Nissan, that means contending with an increasingly grim outlook for foreign automakers in China, the world's biggest car market. AMPERE INVESTMENTNissan said it would invest up to 600 million euros ($663 million) in Renault's electric vehicle unit, Ampere. Renault, meanwhile, will lower its stake in Nissan to 15% from around 43%, putting their relationship on equal footing. The investment in Ampere is consistent with Nissan being a strategic investor and securing a board seat on the new company, Nissan said. Nissan had flagged in February that it would invest a maximum 15% in Ampere, but the exact size of its stake remained unclear.

Persons: Gonzalo Fuentes, Makoto Uchida, AlixPartners, Nissan, Ampere, Gilles Guillame, Daniel Leussink, David Dolan, Miral Organizations: Renault, Viva Technology, Porte de, REUTERS, Investment, Nissan, Reuters, North America, Dongfeng Motor Group, Ampere, Qualcomm, Mitsubishi Motors, Thomson Locations: Porte, Paris, France, TOKYO, PARIS, Renault's, China, Japan, North, U.S

[1/2] The logo of Osaka Organic Chemical Industry Ltd. is pictured in Tokyo, Japan July 25 2023. REUTERS/Sam NusseyTOKYO, July 26 (Reuters) - Osaka Organic Chemical Industry (4187.T), a Japanese manufacturer of high-end chemicals used in chip production, is betting on the materials market for extreme ultraviolet (EUV) lithography, a method for making advanced chips. Little known even in its home country, Osaka Organic has carved out a critical niche in the semiconductor industry by supplying companies that make photoresists, the light-sensitive chemicals used to etch patterns on wafers. "I am confident that we can compete," Masayuki Ando, Osaka Organic's president, told Reuters in an interview, referring to the EUV resist market. In many ways, Osaka Organic is emblematic of Japan's chip-making industry today.

Persons: Sam Nussey, Masayuki Ando, Osaka, Ando, Yuta Nishiyama, Miho Uranaka, David Dolan, Miral Organizations: Osaka Organic Chemical Industry Ltd, REUTERS, Osaka Organic Chemical Industry, Reuters, Citigroup, Thomson Locations: Osaka, Tokyo, Japan, Sam Nussey TOKYO, photoresists, South

☆ Who was Lewis Strauss, the villain played by Robert Downey Jr. who tried to frame J. Robert Oppenheimer as a communist?
▼ + stars: | 2023-07-24 | by ( Sebastian Cahill | Hannah Getahun | ) www.businessinsider.com time to read: +6 min

Lewis Strauss oversaw J. Robert Oppenheimer as chairman of the Atomic Energy Commission. Strauss used Oppenheimer's communist sympathies to begin stripping his security clearances. However, Strauss was the first to take serious action about Oppenheimer's Communist accusations. The film reenacts another instance when Strauss feels Oppenheimer slighted him — as Oppenheimer and Albert Einstein, played by Tom Conti, speak by a pond after Strauss offers Oppenheimer a prestigious job at the Institute for Advanced Study. Strauss also began a separate security proceeding with the AEC over Oppenheimer's alleged Communist ties, which resulted in his security clearances being suspended.

Persons: Lewis Strauss, J, Robert Oppenheimer, Strauss, Nolan's, Oppenheimer, Robert Downey Jr, J.Robert Oppenheimer, Herbert Hoover, Cillian Murphy, Murphy, Harry Truman, Eisenhower, Jean Tatlock, Florence Pugh, —, Albert Einstein, Tom Conti, Einstein, Edgar Hoover, surveilling Oppenheimer, Oppenheimer's, Hoover, William Liscum Borden, Nolan, David Dastmalchian, Downey, Christopher Nolan, Amadeus, that's, Mozart, Salieri, Emily Blunt, Kitty Organizations: Atomic Energy Commission, Service, US Navy, AEC, —, Manhattan Project, Institute for, FBI, Joint Atomic Energy, Commerce, Democrats, Rotten, The New York Times Locations: Wall, Silicon, West Virginia, Nolan's, Soviet Union, Canada

☆ 1 in 5 young people in China can't find a job – and that's a big problem for Xi Jinping
▼ + stars: | 2023-07-23 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

China's economy is facing perhaps its biggest challenges since a manufacturing boom sent its economy into overdrive in the last couple of decades. It's comparable to the economy young people in the US faced as they left college in the depth of the financial crisis in 2008/9. While things should get better if the economy rebounds, there's a more existential issue facing China's young people. Yet economic instability among China's young threatens to give him an unwanted headache nonetheless. There are wider existential issues facing young employees the world over, with the AI boom forcing many to completely reassess their skillset and career aspirations.

Persons: Xi Jinping, David Dollar, disenfranchisement, Xi Organizations: Service, Privacy, Reuters, Brookings Institute Locations: China, Wall, Silicon

☆ The Open: Brian Harman shrugs off ‘unrepeatable’ heckles and a grisly start to take commanding lead into final round
▼ + stars: | 2023-07-22 | by ( Jack Bantock | ) edition.cnn.com time to read: +4 min

“You’d be foolish not to envision [winning], I’ve thought about winning majors for my whole entire life,” Harman told reporters. Merseyside-born and similarly chasing a long-awaited first major, Fleetwood has received vociferous crowd support all week – but home backing occasionally spilled over into rival attacking, according to his playing partner. He will pair with Harman when they tee off in as the final group Sunday at 2:15 p.m. BST (9:15 a.m. His eight-under 63 was the lowest round of the tournament so far and marked his career-low score at a major. Rory McIlroy will need a miraculous final day turnaround if he is to end his nine-year wait for a fifth major.

Persons: Brian Harman, Harman –, Harman, Greg Norman, Jean Van de Velde, “ You’d, ” Harman, “, England’s Tommy Fleetwood, Fleetwood, “ I’d, Gregory Shamus, Cameron Young –, Jon Rahm, Young, Brooks Koepka, Rahm, David Davies, Norway’s Viktor Hovland, France’s Antoine Rozner, Australia’s Jason Day, Austria’s Sepp Straka, Alex Fitzpatrick, Matt Fitzpatrick, India’s Shubhankar Sharma, Rory McIlroy Organizations: CNN, Royal Liverpool, PGA, Merseyside, Fleetwood, Getty Locations: American, Georgia, Royal

☆ What you need to know about Zimbabawe's election
▼ + stars: | 2023-07-21 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsWhat you need to know about Zimbabawe's electionPostedZimbabweans head to the polls on August 23. David Doyle explains what's at stake in the one-time bread basket of Africa.

Persons: David Doyle, what's Locations: Africa

☆ We Will Never Run Out of Resources
▼ + stars: | 2023-07-20 | by ( Marian L. Tupy | David Deutsch | ) www.wsj.com time to read: 1 min

Photo: Getty ImagesThe world’s population has increased eightfold since 1800, and standards of living have never been higher. Despite increases in consumption, and contrary to the prophecies of generations of Malthusians, the world hasn’t run out of a single metal or mineral. In fact, resources have generally grown cheaper relative to income over the past two centuries. Even on the largest cosmic scale, resources may well be limitless.

Nissan has been working to define a lower threshold for its pledged, strategic investment in Renault's electric vehicle unit, Ampere, below the 15% maximum target it announced in February, two of the people said. The automakers announced a framework agreement in February and had aimed to finalise the deal as early as March. Under the framework, the Japanese automaker would take the as much as 15% of Ampere and Renault would reduce its 43% stake in Nissan. "Nissan and Renault are engaged in constructive and ongoing negotiations. The board has not heard the final report on the surveillance claim, according to the three people.

Persons: Ampere, Makoto Uchida, Ashwani Gupta, Gupta, Nissan's, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan Organizations: Nissan, Renault, Reuters, Thomson Locations: TOKYO

Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan. That timeline was extended when senior Nissan executives and some directors challenged detailed provisions of deal, citing the need to better protect Nissan's intellectual property, Reuters has reported. Nissan executives sought to rebalance the alliance built by former Chairman Carlos Ghosn after his ouster sent the automaker into turmoil. While the size of the investment ultimately hinges on the value of Ampere, Nissan is likely to take less than 10%, one of them said. By closing out the restructured Renault deal, Nissan executives have the opportunity to pivot to other challenges, including a medium-term strategy update and a change in approach to China, where Nissan's sales, and those of other global automakers, are in decline.

Persons: Ampere, Carlos Ghosn, Makoto Uchida, Ashwani Gupta, Gupta, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan, Christian Schmollinger, Sharon Singleton Organizations: Renault, Nissan finalise, Nissan, TOKYO, Reuters, Mitsubishi Motors, Qualcomm, Mitsubishi, Thomson Locations: U.S, China

Under the framework, the Japanese automaker would take as much as 15% of Renault's new electric vehicle unit, Ampere, while Renault would reduce its 43% stake in Nissan. The delay shows how the latest tension at the top of the Japanese automaker has complicated a drive to bring the decades-long relationship with Renault to a more equal footing. After the automaker was pitched into turmoil by the ouster of former Chairman Carlos Ghosn, Nissan executives sought to rebalance the alliance he built. We will make a statement in due course when the agreements are concluded," the Japanese automaker said in a statement. Nissan and Renault's junior partner, Mitsubishi Motors, has also indicated it may invest in the company.

Persons: Ampere, Carlos Ghosn, Makoto Uchida, Ashwani Gupta, Gupta, Maki Shiraki, Daniel Leussink, Kevin Krolicki, David Dolan Organizations: Nissan, Renault, Reuters, Mitsubishi Motors, Qualcomm, Mitsubishi, Thomson Locations: TOKYO, U.S

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