Business
Panasonic targets 10,000 job cuts worldwide
Japanese electronics giant Panasonic, which supplies batteries to Tesla, said Friday it will target 10,000 job cuts worldwide as part of efforts to boost profitability. The cuts, which represent around four percent of the group's workforce of nearly 230,000, will be implemented mainly in the current financial year to March,… Read
China's exports rise higher than expected 8% in April
China's exports rose 8.1% in April from the year before, the government said Friday, faster than economists were expecting, though exports to the United States sank more than 20%. Economists had forecast that China's global exports would grow about 2% in April, down from a whopping 12.4% year-on-year increase in… Read
Japan's real wages in March fall 2.1% on year, down for 3rd month
Japan's real wages in March fell 2.1 percent from a year earlier, marking the third consecutive monthly decline, as income growth continued to fall behind price hikes, government data showed Friday. Nominal wages, or the average total monthly cash earnings per worker including base and overtime pay, increased 2.1 percent… Read
Asian stocks mixed after hopes for China-U.S. talks, trade deal with UK lift Wall Street
Shares were mixed in Asia on Friday as investors pinned their hopes on weekend trade talks between China and the U.S. U.S. futures and oil prices logged modest gains. China reported that its exports rose at a faster-than-expected 8.1% annual pace in April, down from 12.4% the month before. Exports… Read
U.S. automakers blast Trump's UK trade deal
The Trump administration's latest trade deal with Britain unfairly penalizes U.S. automakers that have partnered with Canada and Mexico, a trade group representing Detroit automakers said Thursday. In a sharply-worded statement, the American Automotive Policy Council (AAPC) said the U.S.-UK trade deal "hurts American automakers, suppliers, and auto workers," according… Read
Mitsubishi, Nissan eye joint production to mitigate U.S. tariffs
Mitsubishi Motors Corp said Thursday it is considering jointly producing sport utility vehicles with Nissan Motor Co at a Nissan plant in the United States, in a bid to ease the impact of U.S. President Donald Trump's tariff policies. Mitsubishi currently ships vehicles from Japan for sale in the U.S.… Read
Tokyo luxury hotels warned against cartel-like price info sharing
Japan's antitrust watchdog on Thursday warned more than a dozen high-end Tokyo hotel operators over regularly sharing their room rates and occupancy data, deeming the practice as bordering on cartel behavior that could amount to violation of the antimonopoly law. The Japan Fair Trade Commission urged a total of 15… Read
Toyota cites tariffs as it forecasts 35% drop in 2025-26 net profit
Japanese auto giant Toyota on Thursday forecast a 35 percent year-on-year drop in net profit for 2025-26 citing Donald Trump's vehicle tariffs among other factors. Carmakers have been among the hardest-hit by the U.S. president's multi-pronged assault on free trade. On top of a 25 percent tariff already placed on… Read
Asian shares trade higher after Wall Street climbs moderately as Fed holds rates steady
Asian shares rose moderately Thursday after a lackluster finish on Wall Street, with most shares ticking higher after the Federal Reserve left its main interest rate unchanged, as was widely expected. Japan's benchmark Nikkei 225 edged up 0.4% in afternoon trading to 36,943.30. Australia's S&P/ASX 200 added 0.2% to 8,191.70.… Read
Automaker owned by Taiwan's Foxconn to make EVs for Mitsubishi Motors
Foxtron, an automaker partly owned by Taiwan iPhone manufacturer Hon Hai Technology Group, and Mitsubishi Motors of Japan said Wednesday they have agreed to develop an electric vehicle to be sold in Australia and New Zealand. Hon Hai, also known as Foxconn, is one of a growing number of technology… Read
