September 15, 2020 Biz in 60

WTO rules against US tariffs on Chinese goods The World Trade Organization has ruled that the Trump administration's tariffs on 200-billion- dollars' worth of Chinese goods are illegal. The penalties were imposed in 2018 after Washington accused Beijing of unfair trade practices. The ruling allows Beijing to retaliate and the US can appeal the decision.. But Washington has paralysed the appeals court by refusing to accept new members for it, rendering the WTO toothless. Former Nissan executive Greg Kelly pleads not guilty A former aide to former Nissan chairman Carlos Ghosn has pleaded not guilty to charges of financial fraud at the opening of his trial in Tokyo. Greg Kelly is charged with helping Ghosn hide 88-million- dollars in compensation over eight years through deferred payments. If found guilty, Kelly could face up to 10 years in prison Sony reportedly slashes estimate for PS5 production Sony has reportedly cut its estimated production of its new PlayStation 5 console by 4-million units for this fiscal year, over issues with the production of its custom-made chips. The Japanese firm will now reportedly aim to produce around 11-million units which are due to be released later this year. The report comes as Sony prepares for a holiday-season console battle with Microsoft.