Nissan earnings slump

NISSAN has slashed its fullyear profit forecast due to a slump in car sales and taken a £65m charge related to the arrest of its former boss Carlos Ghosn.

The Japanese car maker now expects to make profits of £2.9bn in the year to March, down from a previous estimate of £3.5bn, as sales tumble around the world. This would be its lowest profit in six years. And it said it had booked a charge to cover £ 65mworth of expenses related to alleged secret payments to Ghosn.

The 64-year- old former boss was arrested by Japanese authorities in midNovember and charged with understating his pay by not including more than £60m over an eight-year period.