Mitsubishi Motors executives on Monday ousted Carlos Ghosn as chairman following his shock arrest for alleged financial misconduct, capping a stunning fall from grace for the tycoon credited with saving the scandal-hit Japanese firm. 

Top executives from Mitsubishi Motors gather on Monday to sack Carlos Ghosn as chairman over alleged financial misconduct that the once-revered tycoon denies, as further allegations leaked out against him.

General Motors is expected to announce on Monday the closure of a factory in the Canadian city of Oshawa, putting almost 3,000 jobs at risk, Canadian channel CTV reported.

In recent years, Japan stunned traditional whisky-makers Scotland, Ireland, and America by exploding onto the international market and winning over connoisseurs of the tipple long considered an exclusive dominion.

Now, entrepreneurs in France -- a country better known for its mastery of wine and cognac -- seem to have taken heart from Japan's success, with dozens throwing themselves into the once exclusive world of whisky.

A mega-trial harking back to the dark years of Spain's economic crisis kicks off Monday over the alleged fraudulent 2011 listing of financial giant Bankia, with former IMF leader Rodrigo Rato in the dock.

The Spanish state was forced to step in to prevent the bank's collapse and then to borrow 41 billion euros from the EU to keep Spain's banking sector afloat.

Italian Prime Minister Giuseppe Conte said he was "confident" Rome could avoid unprecedented EU sanctions over its big-spending budget, rejected by Brussels, following talks with European Commission head Jean-Claude Juncker.

Rome's coalition government insists its 2019 budget will help kickstart growth in the eurozone's third largest economy and reduce debt, but the EU says the country risks "sleepwalking into instability" and increasing its already massive debt burden.

Doubts over fishing rights, a topic that endangered the Brexit talks, will have to be resolved well before the end of the post-divorce transition period, European leaders said Sunday.

The statement came after several EU member states voiced 11th-hour concerns about the draft deal that was approved on Sunday, particularly about their boats' access to British waters after March.

Nissan's former chairman Carlos Ghosn has denied allegations of financial misconduct, claiming he had no intention of making false reports, Japanese media said Sunday.

As the U.S. holiday shopping season kicked off Friday, retailers were looking to an unexpected savior to keep the tills humming: millennials.

Belgian authorities have impounded millions of euros worth of works by street artist Banksy after an exhibitor in Brussels realized they may not be insured, a lawyer said Friday.

The exhibitor, Strokar, informed the authorities that the 58 paintings, photos and silkscreens may not be covered if any were damaged or stolen, Strokar's lawyer Stanislas Eskenazi said.