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Nissan is preparing to oust its chairman, Carlos Ghosn, after announcing the discovery of "significant acts of misconduct" over many years by him and another top executive."Nissan has been providing information to the Japanese Public Prosecutors Office and has been fully cooperating with their investigation," the Japanese carmaker said in a statement. "We will continue to do so."It said an investigation found that Ghosn and another board member had been under-reporting Ghosn's compensation."Numerous other significant acts of misconduct have been uncovered, such as personal use of company assets," Nissan (NSANY) added.CEO Hiroto Saikawa will propose to Nissan's board of directors to "promptly remove Ghosn from his positions as chairman and representative director," the company said.Shares in French automaker Renault (RNSDF), of which Ghosn is CEO, plunged as much as 13% in Paris. Nissan's announcement came after the close of trading in its shares in Tokyo. 977

NEW YORK (AP) — Citigroup's Jane Fraser will become the first woman ever to lead a Wall Street bank when she succeeds CEO Michael Corbat in February. The New York bank announced the succession Thursday. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that oversees checking and savings accounts but also Citi's massive credit card business. For 16 years, Fraser has worked in various departments within Citi:- 2015-19: Chief Executive Officer of Citi’s Latin American region.- 2013-15: Chief Executive Officer of the U.S. Consumer and Commercial Banking and CitiMortgage. - 2009-13: Chief Executive Officer of Citi's Private Bank. - 2007-09: Global Head of Strategy and Mergers & Acquisitions.In 2004, she joined the company in its Corporate and Investment Banking division.She previously worked at McKinsey & Company, Goldman Sachs, and Asesores Bursátiles.Fraser also serves as a member of the Board of Dean’s Advisors at Harvard Business School and Stanford University’s Global Advisory Council. She's also a member of the Council on Foreign Relations.She earned her M.B.A. from Harvard Business School and an M.A. in economics from Cambridge University.Fraser's climb to the CEO role is a major accomplishment in an industry long dominated by men. Corbat led Citigroup for eight years, rebuilding the company after it nearly collapsed during the Great Recession and 2008 financial crisis.Corbat had been with the company for 37 years. 1500

NEW YORK — The Uncle Ben’s rice brand is changing its name to Ben's Original. Parent company Mars Inc. is the latest company to drop a logo criticized as a racial stereotype. Mars said the Ben's Original packaging will hit stores in 2021. Since the 1940s, the rice boxes have featured a white-haired Black man, sometimes with a bowtie. According to Uncle Ben's website, the name "Uncle Ben" refers to a "legendary Texan farmer, Uncle Ben who was known for his exceptionally high-quality rice." Frank Brown, a maitre d' at a Chicago restaurant, posed for "Uncle Ben's" portrait, which has since served as the brand's logo.Critics have said the image evoke servitude. Global President for Mars Food Fiona Dawson says the company is still deciding on an image to accompany the new name. Pressure on brands to retire racial imagery have intensified amid the Black Lives Matter protests over police killings of unarmed African Americans. Aunt Jemima syrup and pancake mix was the first company to announce a planned name change amid widespread civil unrest. Other brands like Cream of Wheat and Eskimo Pie have said they will retire racial logos. 1149

New York State has issued guidance on professional sports competitions as part of Phase Four of the New York Forward program.The state says professional sports can resume in the state, but with no fans."Ensure that no live audience, fans, or spectators are allowed to attend or permitted to enter any professional sports venue, even if an outdoor venue. Prohibit fans from congregating outside the venue and implement a security plan to safely disperse any individuals that gather outside of the venue," the guidance states.Several guidelines will also be in place for team staff, athletes and venue personnel such as:Maintaining six feet of distance whenever possible.Wearing appropriate face coverings whenever possible.Limiting the use of frequently shared spaces.Limiting the number of individuals on site at a given time.Ensuring all team staff, athletes, and venue personnel receive training on COVID-19 safety, proper hand hygiene, and cleaning and disinfection protocols.Limiting the sharing of objects.Providing and maintaining hand hygiene stations.Conducting regular cleaning and disinfecting of the venue and equipment.No sharing of food or personal items.Diagnostic testing for COVID-19 for all athletes and essential team staff with regular player access 48 hours before a competition.Daily health screenings for anyone entering the venue.The state says this guidance does not apply to collegiate sports, horse racing or auto racing.This article was written by Anthony Reyes for WKBW. 1506

NEW YORK (AP) — The storied New York clothier Brooks Brothers is filing for bankruptcy protection.The company that says it’s put 40 U.S. presidents in its suits survived two world wars and navigated through casual Fridays and a loosening of dress standards even on Wall Street, but the coronavirus pandemic pushed the 200-year-old company into seek Chapter 11 protection Wednesday.A spokesperson for the retailer told CNBC that the company has been evaluating strategic options to position them for success, including a potential sale of the business.Another famed men’s clothier, Barneys of New York, sought bankruptcy protection last year, and it was followed by a slew of others toppled by the pandemic, including Neiman Marcus, J.Crew and J.C. Penney.More bankruptcies are anticipated in the retail sector which has been rattled by the spread of COVID-19. 867