Japanese automakers Honda, Nissan and Mitsubishi said Thursday they are ending talks on business integration. Nissan Chief Executive Makoto Uchida said the talks had changed focus from setting up a joint holding company to making Nissan into a subsidiary of Honda. “The intent was to join forces to win in the… Read
Toyota Motor Corp's labor union said Wednesday it has demanded the same level of wage hike as last year's -- the highest increase in over two decades -- as Japan's annual wage negotiations entered full swing in the face of rising living costs. Toyota's wage request has long served as… Read
Japanese technology company SoftBank Group Corp. reported a 369.2 billion yen loss for the fiscal third quarter as it racked up red ink from its Vision Fund investments. That's compared to a 950 billion yen profit in October-December 2023. Quarterly sales rose 3% from the previous year to 1.83 trillion… Read
President Donald Trump's tariffs on steel imports this week could wreak havoc on American auto manufacturing, industry leaders say. The moves align with the Trump administration's aggressive global trade agenda and ambitions to strengthen U.S. industry, but they could have an inverse effect. On March 12, all steel imports will be taxed… Read
Taiwan plans to establish a center in Fukuoka, southwestern Japan, to promote investment and trade with Japan in the semiconductor and artificial intelligence industries, economic minister Kuo Jyh-huei said Tuesday. In addition to helping Taiwanese companies enter the Japanese market, the center will work to strengthen Taiwan-Japan semiconductor supply chain… Read
Elon Musk has long railed against the U.S. government, saying a crushing number of federal investigations and safety programs have stymied Tesla, his electric car company, and its efforts to create fleets of robotaxis and other self-driving automobiles. Now, Musk’s close relationship with President Donald Trump means many of those… Read
Coca-Cola posted better-than-expected revenue in the fourth quarter as its sales volumes rose in the U.S., China and elsewhere. Revenue for the Atlanta beverage giant rose 6% to $11.5 billion. That was better than the $10.68 billion Wall Street was expecting, according to analysts polled by FactSet. Analysts had expected… Read
Japan's fiscal health further worsened at the end of 2024, Finance Ministry data showed Monday, with total debt climbing to a record 1,317.64 trillion yen. The total debt is more than twice the size of Japan's economy and the largest among advanced economies, due partly to ballooning social security and… Read
Improving international sales helped McDonald’s overcome some weakness at home in the fourth quarter, but the company said it expects U.S. sales to pick up later this year. McDonald's said its sales are continuing to recover from an E. coli outbreak last fall tied to its Quarter Pounder hamburgers. The… Read
Japan posted a current account surplus of 29.26 trillion yen in 2024, a record high, driven by its highest-ever returns on foreign investments amid a weak yen and a decline in the trade deficit, government data showed Monday. The surplus in the current account balance, one of the widest gauges… Read