A late markets newsflash. The oil price is sliding, and shares are jumping on Wall Street, after Donald Trump spoke about the Iran crisis.

The US president confirmed that no American troops were killed or injured by the rockets fired from Iran, and that Tehran appears to be ‘standing down’, after retaliating to the death of senior Iranian general Qassem Suleimani.

Our liveblog has full details:

Tokyo’s prosecutors office has hit back.

In a statement, it says:

Defendant Ghosn’s allegations completely ignore his own conduct, and his one-sided criticism of the Japanese criminal justice system is totally unacceptable.

If you missed the press conference, here’s some photos:

After two and half hours, Carlos Ghosn’s press conference is ending as it began, with the former car chief insisting he is innocent.

If I’d had any hope of a fair trial, I’d never have fled, he says.

He also criticises prosecutors for issuing an arrest warrant for his wife Carole, for allegedly giving false information. Why do that nine months afterwards?

And with that, he’s finished.

Q: Are you the Dreyfus of Lebanon?

Ghosn says he doesn’t understand the reference (to Alfred Dreyfus, the French captain, who was wrongly convicted of passing military secrets to Germany).

Q: It means are you a victim?

Yes I am, says Ghosn firmly. He says that several law professors say they cannot understand why he was arrested, especially as some of the alleged financial misconduct refers to money that wasn’t even paid out.

Q: Can the Nissan-Renault-Mitsubishi alliance succeed without you?

Yes, says Ghosn modestly - but it needs to follow some rules.

Ghosn says he is ready to answer questions from the French authorities, who last year launched an inquiry into his wealth.

Incidentally, the much-pined-after Carole Ghosn is attending today’s press conference, supporting her man.

Channel Four asks Ghosn about the damage to his reputation:

Q: Won’t people say that ‘if a man escapes from a trial in a box there’s no smoke without fire’?

Ghosn won’t be lured into confirming the details of his escape. He says many lies have been told about him, and repeats that he wants a fair trial over the claims of financial misconduct.

Ghosn has reiterated that he had talked to Fiat-Chrysler about a possible merger with Renault, but the deal floundered after his arrest (allowing Peugeot to swoop in instead).

Curiously, Ghosn denies that he resigned from Renault, saying such reports are a “travesty”.

That’s odd, as France’s finance minister Bruno Le Maire announced a year ago that Ghosn had quit as Renault’s chairman and CEO.

Renault also announced that he had resigned both roles, but remained as a director.

We’ve embedded a video stream of Carlos Ghosn’s press conference at the top of this liveblog - you might need to refresh to see it.

Ghosn is now defending a recent visit to Israel - saying he travelled there as a Renault executive.

This visit has caused some anger in Ghosn’s new home, as it is a crime for Lebanese citizens to visit Israel due to the long-running conflict between the two countries.

The BBC’s Simon Jack says Tokyo is going to respond to Ghosn’s claims of a government conspiracy against him.

A Japanese journalist reminds Ghosn that he has broken the law by fleeing to Lebanon.

Ghosn defends his decision to escape, claiming Japan’s prosecutor repeatedly broke the law by leaking details of the case against him

Breaking the law in Japan because I got out of Japan is a problem, but isn’t it a bigger problem that the prosecutor broke 10 laws?

The Japanese people deserve better than a “rigged” justice system, Ghosn says, adding that he has been treated like a “terrorist”.

Reuters: Have Lebanon promised that you won’t be extradited back to Japan?

Ghosn says he doesn’t have such a pledge, but adds:

“I am confident that the existing practices and laws in Lebanon will be respected.

That’s a reminder that there isn’t currently an extradition treaty between the two countries.

Did you every propose a full-blown merger between Renault and Nissan?

Ghosn denies it, saying he simply proposed a holding company -- but since his arrest, the alliance has gone backwards.

Ghosn says his lawyers believe they can fight the Interpol Red Notice.

CNN: Haven’t you just swapped a small cell in Japan for a large one in Lebanon?

Ghosn says he isn’t unhappy in Lebanon, but he is going to fight.

I have to clear my name, and this is very important to me.

The Wall Street Journal asks Ghosn what he plans to do, now he’s a fugitive from justice.

I am “used to Mission Impossible”, he replies, citing his long career in the auto industry.

I don’t consider that I cannot do anything.

I can do a lot, and I am going to clear my name.

Ghosn is taking questions from reporters from different countries.

I was hoping for a bit more help from the Brazilian government, but this did not happen unfortunately, he says.

And on France, he argues that the Paris government wants to improve its relations with Japan, so isn’t taking any steps to defy it.

Ghosn is asked whether he has any political ambitions in Lebanon.

He replies that he’s willing to use his expertise to help the country (who he spoke warmly about earlier). However he’s not planning to move into politics.

Ghosn denies that he’s signed a deal with Netflix to create a TV drama about his escape.

Carlos Ghosn is back to answer some questions from the media.

But he repeats his refusal to reveal how he escaped Japan, as it will “expose several people” who helped him, and could lead to problems for them.

BREAKING! While Ghosn was delivering his monologue, Lebanon’s top state prosecutor Ghassan Oueidat announced he is calling him for questioning tomorrow.

Oueidat wants to quiz Ghosn over the Red Notice issued by Interpol for his arrest, following his decision to flee Japan.

Ghosn is now outlining why it’s terribly unfair to claim he is a cold, greedy dictator.

He insists he was committed to Japan, saying he was the first foreign business leader to return to the country after the 2011 tsunami. He says he was the first to dare to go to Nissan’s plant near the Fukushima nuclear disaster.

Japan is repaying me with evil for all the good I have done to the country. I don’t understand that.

On the greed charge, Ghosn claims he turned down an offer to run General Motors on double his salary.

And he insists he’s not a dictator, citing his long period of success turning Nissan around.

And with that, we’re taking a break! Ghosn is mopping his face with a handkerchief, and the media are looking hungry to ask some questions.

After presenting his case for an hour, Ghosn is proposing to hold a break before taking questions from reporters.

But not before he’s defended himself some more.

He insists that the case against him is political.

I am innocent of all the charges, all of them.

And I can prove that now, as I have the documents, and there are more to come.

Ever the businessman, Ghosn is now railing against Nissan for botching his plan to merge with rival Fiat-Chrysler.

Bringing the Italian-US carmaker into the Nissan-Renault alliance would have been a success, he says.

But this deal died when Ghosn was arrested -- Fiat-Chrysler is merging with Peugeot owner, Groupe PSA, instead.

Ghosn berates his former company:

“How can you lose that? How can you lose a huge opportunity to become the dominant player in this industry?”

Ghosn also denies another key part of the case against him, that he illicitly used Nissan’s money to buy houses around the world.

He produces a letter approving these payments, signed by former CEO Hiroto Saikawa (who Ghosn claims is a key conspirator against him).

Dozens of journalists were gathered outside Beirut’s press syndicate building for Ghosn’s press conference, including many who had flown in especially from Japan.

They stood in the rain guarded by heavily armed Lebanese police officers, descending on each car that pulled up the building. The arrival of two black Toyota Land Cruisers around 3pm caused a flurry - until what appeared to be a group of private security officers emerged. Ghosn had appeared to use the temporary rush to enter the building unseen through a side entrance, and appeared in the conference room a few moments later.

Ghosn now turns to the notorious party which he and wife Carole hosted at France’s Palace of Versailles to celebrate the 15th anniversary of the Renault-Nissan-Mitsubishi alliance.

We didn’t want to act like Louis XIV and Marie Antoinette, he insists. We chose Versailles because it is a symbol of France’s genius, and its openness to the world.

That party cost €635,000, but Ghosn denies there was anything suspicious - even though some friends from Lebanon and the US also attended.

Forty five minutes into his opening statement, Ghosn is now arguing that Nissan and Renault investors are also victims of the conspiracy against him.

He says they are the only major carmakers whose shares have fallen since his arrest, with €20m per day wiped off Renault’s value.

That’s a heavy price, compared to the $11m of allegedly dubious expenses, Ghosn says.

[Perhaps, but I don’t think fraud cases should really balanced against the impact on market capitalisation]

Carlos Ghosn is now denying that there was anything irregular in the “CEO reserve” payments at the heart of the fraud charges against him.

Pointing to a financial statement, he insists that he couldn’t use these funds for illicit purposes.

Last year, Reuters revealed how Ghosn and close associates spent money from a fund that some insiders dubbed ‘the CEO Reserve’ to help pay for residences used by the Ghosn family as well as for other personal expenses.

Ghosn now produces another plank of his defence -- even if one was guilty of such financial misconduct charges, no other country would punish them so harshly as Japan.

Not that he is admitting any guilt, of course.

Carlos Ghosn is now defending his decision to flee Japan, claiming he was effectively a hostage.

He says he was told he faced a five year wait before a judgement would be made on his fraud charges - giving him a choice between dying in Japan or escaping.

He’s also furious about the way he was portrayed.

Nissan was “in the dirt” before my arrival, Ghosn says, and now he am described as “a cold, greedy dictator”.

Carlos Ghosn has now been speaking without interruption for 30 minutes -- speaking passionately about his (claimed) innocence, and slamming Japan’s legal system.

He’s now claiming that the whole arrest was staged, and that there is collusion between Nissan and the prosecutor -- who is effectively the judge, he blasts.

Ghosn is now explaining how he was arrested last year.

He slams the “bullshit” claim that he was arrested on a plane, insisting that he was apprehended going through airport security.

Ghosn also claims that Japanese government officials were involved in this plot to get rid of him.

But, pressing his hands together in prayer, Ghosn says he is “imposing silence” on himself on this issue, as he doesn’t want to hurt the Lebanese people or their government.....

After that vigorous defence, Ghosn is getting down to details, and outlining his theory for why he ended up being arrested on fraud charges.

Ghosn says the plot against him was triggered by Nissan’s declining performance at the start of 2017. He blames Hiroto Saikawa, the former CEO, for this.

He explains that there was big bitterness in Japan about the links between Nissan and Renault, which gave the French carmaker some influence over Nissan.

Unfortunately there was no trust in the partnership, Ghosn continues.

Some Nissan insiders concluded that the only way to get rid of Renault’s influence on Nissan is to get rid of me, and they were right, he adds.

So who cooked up this plot?

Ghosn says Saikawa was obviously part of it, along with whistleblower Hari Nada. He also names Masakazu Toyoda, Nissan director, as a key link.

Carlos Ghosn turns to Greg Kelly, his former aide who was also arrested last year -- and remains in custody.

Ghosn says that Kelly has been persecuted because he refused to sign up to a plea bargaining deal, alongside Hari Nada- a senior vice-president at Nissan who blew the whistle on Ghosn.

Kelly is a “victim of the system” and an honourable man, “with no release date in sight”, Ghosn says, asking the media to remember him.

Carlos Ghosn says his imprisonment went against United Nations standards.

Ghosn is laying into the Japanese criminal justice system, saying he was interrogated for up to eight hours a day without a lawyer present, and without knowing what evidence was held against him.

It is impossible to express the depths of my deprivation, he declares.

Ghosn claims investigators threatened him, saying things would get even worse if he didn’t confess. He had no contact with his family, apart from through letters.

The feeling of hopelessness was profound, he adds, hitting out at prosecutors for re-arresting him after he was released on bail the first time last year.

Ghosn is being introduced now - here’s a live feed.

And here’s the scene inside:

Here’s the scene outside the press conference a few minute ago:

Carlos Ghosn has arrived for today’s press conference. He’s looking suitably serious, dressed smartly in a suit, white shirt and a pinky salmon-coloured tie.

There’s a flurry of camera flashes from the assembled press (who have now navigated the tight security outside).

The Financial Times has drawn up a list of questions for Ghosn to answer today.

They include:

1. Why did you defer part of your salary (a key part of the case against him in Japan)
2. Who else should have been arrested?
3. You say that your enemies wanted to block a Renault-Nissan merger, but why couldn’t you persuade them the deal made sense?
4. Have you evidence to back up your claim that a Japanese government official agreed to help Nissan to bring you down?

More here.

Some background: Carlos Ghosn faced four charges in Japan, and was held in custody for more than three months before securing bail.

Two of those charges were for allegedly understanding Ghosn’s by more than $80m for the best pat of a decade. He was also accused of transferring $14.7m from a Nissan account to a friend’s company, and another $5m to companies controlled by his family.

You can get up to speed on the world’s most famous corporate fugitive here:

Ghosn’s wife, Carole, is clearly delighted to have her husband back in the country.

The Lebanese-born fashion designer has given an interview to the Le Parisien magazine, in which she explains how Carlos’s dramatic bunk from Tokyo to Beirut before the new year was a lovely surprise.

She said:

“I didn’t know about anything. I was in Beirut with my children to celebrate Christmas. Someone called me, saying: ‘I’ve got a surprise for you.’

“It was the most beautiful surprise of my life. We met at my parents’ apartment. I held Carlos very tightly in my arms for at least five whole minutes before I could even speak.”

Mrs Ghosn is also caught up in the legal battle. Yesterday, Japanese prosecutors have issued an arrest warrant for her, claiming she had given false testimony last year.

More here:

Journalists are also being scanned by security staff before they’re allowed into today’s press conference.

Ironic really, as Carlos Ghosn appears to have evaded such security measures during his dramatic escape.

There’s huge interest in Carlos Ghosn’s appearance.

Scores of journalists have flocked to the Lebanese Journalists Syndicate building to hear from the former Nissan chief -- and there are even armed police outside.

Shares in holiday firm TUI are falling deeper into the red, down 4.5% today, making it one of the top fallers.

Rising tensions in the Middle East could hit demand for holidays to the region, even if both sides avoid further escalation.

A number of airlines have said they are suspending flights over Iraqi and Iranian airspace, or cancelled flights, including Air France, KLM, Qantas, Lufthansa and Emirates.

That’s a blow to the local economies.

Agathe Demarais of the Economist Intelligence Unit argues that Iran is trying to avoid escalating the situation, while also showing that it has retaliated to the killing of Qassem Suleimani:

Another sign that calm appears to be returning to markets:

Just in: Boeing says it is “ready to assist” over the Ukranian International Airlines 737-800 plane which crashed shortly after leaving Tehran’s Imam Khomeini airport today.

In a statement, the US firm says:

“This is a tragic event and our heartfelt thoughts are with the crew, passengers, and their families.

We are in contact with our airline customer and stand by them in this difficult time.

We are ready to assist in any way needed.”

Boeing’s 737-800 is the most widely-used aeroplane in service today. It is the forerunner to the 737-MAX, which is currently grounded following two fatal crashes.

Boeing shares are down 2% in pre-market trading.

My colleague Michael Safi tweets:

In an interesting twist, Iraq has now confirmed that it was warned by Iran that last night’s missile attacks were taking place.

That could reassure the markets that Iran isn’t trying to escalate the situation, but still felt forced to make a public retaliation.

Corrections corner: Gold hit $1,600 per OUNCE this morning, not per barrel as I foolishly mistyped earlier.

Thanks to kind readers who flagged up (and let’s pretend they were very small barrels....)

Finablr’s share price is also being dragged down by the news that two investors are trying to sell stock.

Saeed Mohamed al-Qebaisi and Khalifa Butti al-Muhairi hope to sell $75m of Finablr stock, and another $490m in FTSE 100-listed NMC Health -- whose stock is down 15% today.

This comes after NMC was attacked by US short-seller Muddy Waters, which claimed last month that its financial statements are bogus. NMC’s shares have halved in value since.

The Times reckons al-Qebaisi and al-Muhairi may need to sell shares to meet a margin call on shares pledged as collateral for debts....

Bad News: Germany’s factories are continuing to struggle badly.

Factory orders across the eurozone’s largest economy slumped by 1.3% month-on-month in November, meaning they were 6.5% lower than a year ago.

This is rather weaker than expecting, showing that German manufacturing stumbled through much of 2019. It suggests growth was weak in the final quarter of last year.

Carsten Brzeski, economist at ING, says the “hard reality” is that Germany’s economy is struggling.

All in all, there are still no signs at all of a bottoming out for German industry. Instead, the free fall continues. In fact, there is simply one word to describe the current state of the German industry: ‘dire’.

Good News: Staff at UK bakery chain Greggs are sharing a £7m special payment, partly thanks to the success of its vegan sausage roll.

It works out at around £300 for the group’s longer-serving staff - a handy bonus to start the new year with.

My colleague Sarah Butler explains:

The bakery chain’s 25,000 employees will receive up to £300 each in their pay packets this month – with shop floor staff and managers receiving the same amount. Greggs said it was making the one-off payment to workers “in recognition of their crucial contribution to business success”.

Some 19,000 staff, who have been with the company before and up to March last year, will receive the full £300 payment. The rest will be given £75 for every quarter they have been with the company, up to last March.

Iran’s supreme leader, Ayatollah Ali Khamenei, has declared that Tehran has given America a “slap in the face”, and call for its troops to leave the Middle East.

In a live TV speech, Khamenei said:

“Last night, a slap in the face was delivered...

“An important incident has happened. The question of revenge is another issue.

Joanne Stocker of Defense Post suggests that Iran may be signalling that its retaliation is over, at least officially....

Here’s our latest news story on the oil price spike:

Every major Asia-Pacific stock market has dropped today:

Gold will keep rising if Middle East tensions continue to build, predicts Stephen Innes of AxiTrader.

But the flip-side is that bullion could tumble back from today’s seven-year high if calmer heads prevail.

Innes says:

Escalating geopolitical risk has lifted Gold to $1,600, and a further escalation is likely to attract more safe-haven flows. Still, with the near-term position builds hovering around 12-month highs, it increases the risks of a large-scale meltdown if tensions suddenly ease.

While Gold’s sensitivity to geopolitical risks appears higher than any other defensive assets at the moment, it’s worth noting that surges in geopolitical risk can, by their nature, be short-lived and volatile. Still, it’s tough not to get encapsulated by the heat of the moment when it comes to the fog of war.

Geopolitical anxiety has pushed Bitcoin to its highest level since November.

The cryptocurrency has jumped to $8,463 today, a two-month high, and is now up 20% since Qassem Suleimani’s death last week.