Nissan chairman Carlos Ghosn has been arrested over claims of financial misconduct and alleged corruption.

Ghosn will be sacked from the Japanese firm after a board meeting as he has been accused of “significant acts of misconduct”, including under-reporting his pay package and personal use of company assets.

Japanese prosecutors have yet to comment on Mr Ghosn’s arrest. Nissan is the world’s sixth-largest carmaker and its site in Sunderland is the UK’s biggest car plant.

“I feel despair, indignation and resentment. As the details are disclosed I believe that people will feel the same way as I feel today,”  said Nissan chief executive Hiroto Saikawa at a news conference.

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