Newsclip®: [Business] Business News Roundup, May 13 - SFGate

"Nissan Motor Co. is investing $2.2 billion to take a 34 percent stake in scandal-ridden Mitsubishi Motors Corp. in what Nissan CEO Carlos Ghosn said is intended to repeat the success of his Nissan-Renault alliance. Ghosn appeared with Mitsubishi Motors Chairman Osamu Masuko at a hastily called news conference Thursday in Japan. Mitsubishi Heavy Industries, trading company Mitsubishi Corp. and the Bank of Tokyo-Mitsubishi UFJ will continue to hold stakes in the automaker, but they have agreed to support the alliance with Nissan, both sides said. The deal is subject to a formal signing of an agreement, regulators’ and shareholders’ approvals, but is expected to close by the end of the year. Nissan nominees will join the board at Mitsubishi Motors, including the chairman of the board. Walmart is sharpening its attack on Amazon, trimming its free-shipping pilot program to two days from three and cutting a dollar off the membership price. The company began testing the new", www.sfgate.com


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