Nissan and Mitsubishi shares plunged Tuesday after chairman Carlos Ghosn was arrested for alleged financial misconduct, that reportedly included exorbitantly priced houses and diverted compensation.

The two automakers have already said they will propose removing Ghosn, and Renault -- which the titan also heads -- said it would meet later in the day to discuss his fate.

Global wine production rose 13 percent this year, after a catastrophic 2017 which was marked by heatwaves, frosts and hailstorms, the International Organization of Vine and Wine (OIV) said Monday.

It said production was estimated at 279 million hectoliters (mhl) this year, "one of the highest since 2000."

Brazilian-born Carlos Ghosn, who is facing a pay scandal in Japan, has long stood out among the world's auto executives as a hard-nosed workaholic willing to take drastic measures to get companies back on their feet quickly.

As head of the Renault-Nissan-Mitsubishi alliance, Ghosn has created an industrial behemoth, its combined 470,000 employees selling 10.6 million vehicles last year from 122 factories around the globe.

Shares in French automaker Renault fell more than eight percent in Paris on Monday after CEO Carlos Ghosn was arrested over allegations of financial misconduct as chairman of Japan's Nissan.

Renault shares fell over 12 percent in morning trading on the news before recovering slightly to end down 8.43 percent at 59.06 euros.

Wall Street stocks opened a holiday-shortened week on a tepid note Monday, declining amid trade war worries and weakness in tech giant Apple.

President Xi Jinping visited Brunei on Monday, with the sultanate turning to China to boost its flagging, oil-dependent economy as warnings mount about Beijing drowning small countries in debt.

Iran's former economy minister, impeached less than three months ago, will head the national oil company as it works to evade renewed US sanctions, local media reported Monday.

China's former top trade negotiator has questioned Beijing's strategy in the trade row with Washington, offering a rare window into a policy disagreement in the Communist-ruled country.

The rise of passive investing on Wall Street has concentrated stock market action in the final moments of the trading day -- exacerbating steep, last-minute nosedives in stock values with increasing frequency.

Romania, one of the EU's poorest members, could emerge as an unlikely challenger to Russia's iron grip on eastern Europe's energy supply thanks to vast oil and gas reserves waiting to be tapped, experts say.