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ANA enjoys record earnings on robust tourism growth
ANA Holdings Inc said Friday its net profit rose 75.6 percent to a record 157.10 billion yen in the business year ended March, driven by global tourism growth after the coronavirus pandemic. Sales for the year climbed 20.4 percent to 2.06 trillion yen as demand for both international and domestic… Read
Yen sinks to 158 range against dollar in New York
The yen weakened to the 158 range against the U.S. dollar in New York on Friday, falling to a fresh 34-year low, after the Bank of Japan kept intact its current monetary easing policy. The Japanese currency was hovering in the upper 155 range before the BOJ announced its policy… Read
Toyota to invest $1.4 bil to set up 2nd EV production site in U.S.
Toyota Motor Corp said Friday it will invest $1.4 billion in its factory in the U.S. state of Indiana to start producing electric vehicles from 2026, making it the company's second EV production site in the country after its Kentucky plant. The Japanese automaker will hire up to 340 new… Read
Bank of Japan keeps interest rates unchanged despite pressure over weak yen
The Bank of Japan kept its ultra-low interest rates unchanged Friday but analysts say the tumbling yen is putting pressure on officials to act. With the currency at three-decade lows against the dollar, speculation has grown that authorities could intervene in forex markets to provide support for the first time… Read
Asian benchmarks mostly climb despite worries about U.S. economy
Asian shares mostly rose Friday despite worries about the economic outlook and inflation in the U.S. and the rest of the world. The Bank of Japan ended a policy meeting with no major changes, keeping its benchmark interest rate in a range of 0 to 0.1%. In March, it raised… Read
Honda announces $11 bil EV battery and vehicle plant in Canada
Japanese auto giant Honda announced Thursday the largest automotive investment in Canada's history, worth Can$15 billion (U.S.$11 billion), for a massive new EV battery and vehicle assembly plant. Honda chief executive Toshihiro Mibe told a joint news conference with Prime Minister Justin Trudeau and other officials that electric vehicles (EVs)… Read
Car giants vie for EV crown at Auto China show
Chinese car giants locked in a cut-throat price war descended on the capital for the start of the Auto China show Thursday, vying to draw consumers and headlines in the world's biggest electric vehicle market and abroad. China's EV sector has exploded in recent years, and firms are now engaged… Read
Toyota fails to meet 10.1 mil output target in FY2023 amid scandals
Toyota Motor Corp said Thursday its global production in fiscal 2023 grew 9.2 percent from a year earlier to a record 9.97 million vehicles but fell short of its goal of 10.1 million, impacted by recent data-rigging scandals at its group firms. Its overseas production in the year ended March… Read
U.S. growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates
The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total… Read
Nissan unveils four NEV concepts at Beijing auto show
Nissan Motor Co on Thursday unveiled four new energy vehicle (NEV) concepts and showcased a strong lineup of electrified models at Auto China 2024 under the theme of “A new Nissan for a new era in China,” underscoring its latest achievements and future direction in electrification. Nissan also announced that… Read
