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Carlos Ghosn is speaking to the press for the first time since he fled Japan
The former Nissan boss says fleeing Japan was "the hardest decision of his life"
Boeing 737 plane crashes in Iran
Stocks drop and oil prices rise on Iranian attacks
Argos drags down Sainsbury's like-for-like sales
Anglo American in takeover talks with Sirius Minerals
Carlos Ghosn says that escaping from Japan was "the most difficult decision of my life" but he says that he was facing a 99% conviction rate in Japan.
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“Today is also a poignant reminder when I faced a judge… I was ripped from my family. I was interrogated up to eight hours a day, without access to evidence used against me,” says Carlos Ghosn about the Japanese justice system.
Japan's justice minister is expected to make a brief statement in response to what Mr Ghosn has to say.
Carlos Ghosn says: "I am not here to talk about how I managed to leave Japan... I'm here to talk about why I left."
He also says he "should never have been arrested in the first place" and denies all the charges.
Carlos Ghosn says: "As you can imagine, today is a very important day for me - one I have looked forward to for 400 days since I was brutally taken from my world as I knew it."
Image source, AFPCarlos Ghosn has finally appeared amid a blaze of camera flashes. It is understood that his wife Carole is there as well.
It is not clear which language he'll give his statement in - the businessman speaks four.
Image source, AFPHe was once a titan of the car industry who held hero status in Japan. He then became one of the country's most well-known criminal suspects. Now he's an international fugitive.
Carlos Ghosn, the multi-millionaire former boss of Nissan, spent months preparing to stand trial on financial misconduct charges. At least, that was what the Japanese authorities were led to believe.
He posted 1bn yen (£6.8m; $8.9m) in bail in April. He was monitored by a 24-hour camera installed outside his house. His use of technology was heavily restricted and he was banned from travelling abroad.
Then, in a move that left Japan red-faced and his own legal team baffled, he appeared in Lebanon on New Year's Eve. "I have escaped injustice and political persecution," he declared in a statement.
"I am dumbfounded," his lawyer, Junichiro Hironaka, told reporters in Tokyo shortly after learning of Mr Ghosn's flight. "I want to ask him, 'How could you do this to us?'"
Another pressing question is: how did he do it at all?
Security flaws on the TikTok video-sharing platform, that could have let hackers add or delete videos, change privacy settings and steal personal data, have been fixed after they were highlighted to developer ByteDance.
Researchers at security firm Check Point found multiple issues, all ripe for exploitation by hackers.
It informed ByteDance of the problems in November.
TikTok said they were fixed and thanked the security firm for alerting them.
Image source, Getty ImagesIn 40 minutes Carlos Ghosn, the former boss of Nissan, will make his first public appearance since he skipped bail in Japan and fled to Lebanon.
Business Live will be covering the press conference at 1pm so stay tuned - and perhaps we'll discover once and for all exactly what type of box Mr Ghosn hid in to make his dramatic escape.
Mr Ghosn was arrested in November 2018 and has been charged with four counts of misconduct for allegedly understating his pay and misusing Nissan company assets.
Mr Ghosn has denied all the charges.
Image source, ReutersThe president of Ukraine International Airlines, Yevhenii Dykhne, has just spoken following the plane crash in Tehran which has claimed 176 lives.
He said: "On behalf of our company, I offer deep condolences to family members of the people on board, to everybody who was close to them."
Referring to the Boeing 737 model which crashed, Mr Dykhne said: "It was one of our best planes with excellent trustworthy crew."
He added: "We decided to cancel all flights to Iran for an indefinite period of time."
Image source, Shoe ZoneThe boss of Shoe Zone has called on the government to take urgent action to cut business rates in an effort to stem High Street store closures.
Speaking to the PA news agency, chief executive Anthony Smith said "maybe 20% of stores could close if rates don't change". The chain has already secured rent reductions in order to protect the future of some shops.
Shoe Zone was reporting a fall in pre-tax profits of 15% to £9.6m in the year to 5 October, amid rising costs.
Mr Smith told PA: "We need a change to the rates system because the current cost of rates is too much for retailers, particularly in small towns.
"Current rates don't reflect the market. All we want to see are rates which are aligned with the current rental property market.
"We are a business that is looking to really expand but our numbers haven't really moved over the past year. We've opened about 20 stores and then closed around 20 over same period."
Mr Smith added that the company paid more in business rates in 2019 than it did in 2009, even though it store numbers had fallen from about 800 to 500 over that time.
The FTSE 100 has clawed back earlier falls and is now down 5.55 points at 7,568.22.
NMC Health is the biggest blue chip faller, down 14.5% at £12.76 after two major investors in the company - Saeed Al Qebaisi and Khaleefa Al Muhairi - sold off £375m worth of shares.
Industrial conglomerate Smiths Group is the largest riser, with its share price up 1.57% at £17.47.
The FTSE 250 is down 0.79% at 21,661.19.
Image source, Getty ImagesLet's get some analysis on the latest UK productivity figures.
Pointing to the fact that the figures show no growth in output per hour over the past year and "only minimal" increase in output per job, PwC's Alex Tuckett says: "This is little surprise given that the labour market has remained robust whilst growth has been sluggish."
Quote MessageAlthough slightly better than recent quarters, these results underline the extent of the productivity challenge facing the UK. The weak investment seen since 2016 will not be helping productivity; however the UK has had a problem with slow productivity growth since the financial crisis. Without sustained productivity growth, recent improvements in real wage growth are unlikely to be sustainable. This will require increased investment by both business and government, notably in transport infrastructure, upskilling staff and innovation.
Alex Tuckett, Senior economist, PwC
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The BBC's transport correspondent has been taking a closer look at some of the information about time leading up to the crash of the Ukrainian plane (see earlier posts).
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Image source, ReutersSirius Minerals' plans include building a minehead at Dove's Nest Farm, Sneaton in North Yorkshire
Anglo American is in advanced talks to buy Sirius Minerals for 5.5p a share, valuing the business at £386m (see earlier post).
The offer is about 40% above Tuesday's close price.
Anglo's shares fell 2.25% on the news of the bid, while shares in Sirius jumped 35%.
Quote MessageAs one of the largest miners in the world, it [Anglo American] has the financial clout and expertise to make this project happen. We also wonder whether the government may have offered certain assurances. The fact this offer is public could make raising cash for other sources very tricky now, if not impossible, forcing [Sirius Minerals] into something of a corner – even if the price is not the best they will have to accept it. The market knows they need cash asap but with this offer on the table, it’s now the only show in town – they have to recommend it or it’s curtains. Anglo is picking up a distressed asset on the cheap.
Neil Wilson, Chief market analyst, Markets.com
Today Programme
BBC Radio 4
Image source, Getty ImagesOn Tuesday the foreign currency trader Travelex confirmed that it is the victim of an ongoing ransomware attack.
Workers in the firm’s branches are currently having to go back to pen and paper.
Speaking to the Today programme, Dr Stephanie Hare, a technology expert, called the attack a “21st century version of a hold-up”.
She said that during ransomware attacks, hackers might be in a victim’s “network” for about 180 days before it is even noticed.
She added that in terms of next steps, Travelex now need to identify what data might have been accessed, what might be leaked, and what has been backed up.
Image source, ReutersUrsula von der Leyen will meeting Boris Johnson for the first time since she took office
Boris Johnson will stress the importance of the UK and EU reaching a trade deal by the end of the year in his first meeting with the new president of the European Commission.
The PM will hold talks with Ursula von der Leyen in Downing Street.
Once the UK leaves the EU on 31 January, the two sides will begin talks on their future economic relationship.
Mr Johnson has insisted a deal is possible by the end of 2020 and the process will not be extended.
Dominic O'Connell
Business Presenter, BBC Radio 4 Today programme
Image source, Sirius MineralsAnglo American's interest in the Sirius Minerals project will infuriate those who have opposed the mine, but it holds out the prospect of a much needed boost to the North East's economy.
It has been a controversial project since it was first proposed, as most of the mining will take place beneath the North York Moors National Park. Sirius succeeded in overcoming that opposition and winning planning permission, only to fail to raise the funds needed.
Anglo's backing would make it much more likely that the project will go ahead. It is one of the world's top mining companies and has the financial and technical resources to push it through.
Its proposed offer is a mixed blessing for the 85,000 odd retail investors - many in the North East - who backed Sirius hoping for great things. They have had a rollercoaster ride. The shares went as high as 40p three years ago, but the failure to raise funds meant they were facing a complete wipeout.
Anglo's proposed offer of 5.5p per share is better than nothing - and there is always the hope that this morning's announcement might flush out other bidders willing to pay even more.
Image source, Getty ImagesTopps Tiles has reported a 5.4% fall in like-for-like sales for the quarter to 28 December.
The company said comparable sales fell 7.2% in the first two months of the reporting period but improve in the final few weeks to a 1.4% drop.
Chief executive Rob Parker said the quarter "reflects the full impact of the heightened political and economic uncertainty evident in the run up to December's general election".
He said that although "trading conditions remained challenging throughout the period", "the retail like-for-like sales decline began to return to its pre-election trend towards the end of the quarter".
Topps Tiles's share price rose by 1.5% to 77p.