Nissan Renault chief Carlos Ghosn faces arrest in Japan. Shares slide after executive is alleged to have understated income on financial statements. Carlos Ghosn, the chairman of Nissan and chief executive of Renault, faces arrest in Japan and will be sacked by the car manufacturers for alleged financial violations. Renault’s market value dived by €2bn (£1.78bn) to €17bn after the report, with shares falling by 11%. The value of Nissan securities listed in Germany fell by 12%. Ghosn was suspected of having understated his income on financial statements and had agreed to voluntarily speak to prosecutors. He was exposed by a whistleblower, Nissan said.
Noel Edmonds likely to file £60m Lloyds lawsuit on Wednesday. TV star, expected to join I’m a Celebrity this week, says gains will fund charity to help banking victims. The TV and radio star Noel Edmonds, who is expected to join ITV’s I’m a Celebrity … Get Me Out Of Here jungle camp this week, is also likely to fire the starting gun on a £60m lawsuit against Lloyds Banking Group (LLOY). The Deal or No Deal star has also pledged to use a portion of any gains from the pending lawsuit to fund a charity for banking victims. Edmonds’ lawyers are expected to serve Lloyds Bank with a pre-case letter this Wednesday, although the formal claim may not be filed until early December. Lloyds Bank said: “We are still waiting for Mr Edmonds to file his legal claim. If he does file his claim, it will be contested.”
TSB appoints Debbie Crosbie as new chief in wake of IT meltdown. CYBG (CYBG) executive will replace Paul Pester, who stepped down after crisis, next year. TSB has appointed CYBG’s Debbie Crosbie as its chief executive to succeed Paul Pester, who stepped down following an IT meltdown in April that locked up to 1.9 million customers out of their accounts. Crosbie will join from Clydesdale and Yorkshire Bank owner CYBG, where she has worked for more than 20 years and has been chief operating officer since January 2015. She will take up her new role in 2019. Until then, Richard Meddings will continue to run TSB as executive chairman. While Meddings stopped short of divulging Crosbie’s pay packet, he told journalists her basic salary will be higher than her predecessor’s, which last stood at £913,500.
