After six months of tortured negotiations and weeks of tactical leaking, Nissan and Renault in the end announced a deal in haste on Monday — one that was presented to the outside world as a renewal of marriage vows that would hold back the collapse of the carmakers’ 24-year-old alliance. Uchida had arrived that day with a tentative deal on the table, but instead of the strong backing he had expected, he was faced with a rebellion.
One thing to start: A US appeals court has dismissed a bankruptcy petition filed by a unit of Johnson & Johnson, upending the healthcare company’s attempt to resolve billions of dollars of legal claims from customers alleging its talcum powder caused cancer. DD subscribers can claim a free virtual pass or join us in person at The Biltmore Mayfair, London, on March 2. Nothing says everything’s fine like a 413-page rebuttal of allegations of fraud made by a short seller — the vast majority of which is filled with annex materials that don’t directly address the claims.
Today is Tuesday, January 31st, and this is your FT News Briefing. Renault and Nissan have reached a deal to save their alliance. The International Monetary Fund says most countries will avoid a recession this year.