MUMBAI (NewsRise) — Tata Motors reported a better-than-expected third-quarter profit, aided by unit Jaguar Land Rover, but warned that the coronavirus outbreak in China may damp the financial performance of the British luxury automaker in the current quarter. Mumbai-based Tata Motors, which derives the bulk of its revenue from the marquee brand, is barely recovering… Continue reading Tata Motors profit beats estimates on Jaguar Land Rover cost cuts
Author: Nikki News Feed
Honda supplier to shift production from Wuhan to Philippines
TOKYO — Honda Motor‘s major car parts supplier Ftech is to move its brake pedal production from Wuhan, China, to the Philippines amid the new coronavirus outbreak. Operations at the Wuhan factory have been suspended and are unlikely to resume soon. If the coronavirus continues spreading, other companies are likely to follow Ftech’s move. Numerous… Continue reading Honda supplier to shift production from Wuhan to Philippines
Japan issues arrest warrants for Ghosn and 3 suspected accomplices
TOKYO (Reuters) — Japanese authorities on Thursday issued arrest warrants for a former U.S. Special Forces soldier and two other men on suspicion of smuggling former Nissan Motor Co boss Carlos Ghosn out of Japan. Warrants were issued for former U.S. Green Beret Michael Taylor and two other men, George-Antoine Zayek and Peter Taylor, prosecutors… Continue reading Japan issues arrest warrants for Ghosn and 3 suspected accomplices
Abe nominates monetary dove to Bank of Japan board
TOKYO — Japanese Prime Minister Shinzo Abe’s government has nominated an advocate of aggressive monetary easing to the Bank of Japan’s policy board, underlining his faith in the efficacy of monetary policy in reversing the country’s entrenched deflation. The government put forward Seiji Adachi, a former Deutsche Securities economist, to replace outgoing board member Yutaka Harada, another… Continue reading Abe nominates monetary dove to Bank of Japan board
Tokyo prosecutors search office of Carlos Ghosn’s former lawyer
TOKYO (Kyodo) — Tokyo prosecutors on Wednesday searched the office of a lawyer who used to represent Carlos Ghosn, in connection with the former Nissan Motor Co. chairman’s recent escape from Japan to Lebanon. Junichiro Hironaka had earlier refused to hand over to prosecutors a computer Ghosn used at the office in Tokyo, citing a… Continue reading Tokyo prosecutors search office of Carlos Ghosn’s former lawyer
Renault picks ex-VW unit head De Meo as CEO for fresh start
PARIS (Reuters) — Renault’s Tuesday named Luca de Meo, the former head of Volkswagen’s Seat brand, as its next chief executive, as the car maker looks to draw a line under a year of turmoil by finalising a long-awaited management shake-up. De Meo’s appointment fills one of the big gaps left at the French company… Continue reading Renault picks ex-VW unit head De Meo as CEO for fresh start
Ghosn extradition proves to be sticky issue for Japan and Lebanon
TOKYO — A month after former Nissan Motor Chairman Carlos Ghosn’s shocking escape from house arrest in Japan, the Japanese government is still trying to negotiate his extradition from Lebanon, which has so far refused to hand over one of its most prominent citizens. Ghosn, who was arrested in November 2018 on financial misconduct charges,… Continue reading Ghosn extradition proves to be sticky issue for Japan and Lebanon
Daiichi Sankyo harnesses ‘old’ R&D to strike cancer drug gold
TOKYO — Daiichi Sankyo, a Japanese drugmaker that has not had a blockbuster product for nearly a decade, is surging in market value, joining the 5 trillion yen ($46 billion) club that also includes such marquee names as Nintendo and Honda Motor. The drugmaker pulled off a major breakthrough in cancer treatment using traditional research methods largely… Continue reading Daiichi Sankyo harnesses ‘old’ R&D to strike cancer drug gold
Japan to lift stockpiles of metals for EVs, wary of China’s clout
TOKYO — Japan will expand its reserves of metals crucial to the production of electric vehicles and high-tech gadgets, aiming to keep pace with rising demand and ensure access as China gains increasing control over global supplies. China provides nearly 60% of Japan’s imports for these often-rare minerals, and international competition to secure such resources is heating up. Companies tied to Chinese… Continue reading Japan to lift stockpiles of metals for EVs, wary of China’s clout
SoftBank makes self-driving push in Japan
TOKYO — SoftBank Group is making a push for self-driving buses in Japan, unveiling on Monday a plan to carry passengers on public roads from April. Sakai, a town on the outskirts of Tokyo, plans to begin operating vehicles on a 2.5 kilometer route, making stops at spots like banks and schools. Navya, a French… Continue reading SoftBank makes self-driving push in Japan