Business

Mitsubishi Heavy said to be freezing development of regional jet

30 Comments

Mitsubishi Heavy Industries will freeze development of its SpaceJet regional jet as the COVID-19 pandemic squeezes finances and erodes prospects for Japan's first passenger aircraft in half a century, two sources said. The sources with knowledge of the decision told Reuters that the plan would be announced along with a… Read

Business

Asian shares, U.S. futures gain after last Trump-Biden debate

6 Comments

Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. Stocks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai. Sydney's benchmark ended flat. In… Read

Business

Fujifilm partners with Shanghai firm to seek Chinese COVID-19 approval for Avigan

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Japan's Fujifilm Holdings Corp said on Thursday it has partnered with Shanghai-based Carelink Pharmaceutical Co to seek approval in China for Avigan to treat COVID-19 and influenza. Carelink will use Fujifilm's data on Avigan's treatment of novel coronavirus infections and influenza to seek imported drug approval in China, Fujifilm said… Read

Business

An electric Hummer? Battery-powered trucks head to showrooms

3 Comments

Seven auto companies have plans to roll out new battery-powered pickup trucks over the next two years, aiming to cash in on a popular and lucrative market for expensive vehicles. General Motors is among them, and on Tuesday its GMC brand introduced a new electric Hummer pickup, with a high-end… Read

Business

Polyester from pollution? Fashion's next generation goes green

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From using custom-made, biodegradable fabrics and 'living' clothes that photosynthesize to polyester created from planet-warming carbon dioxide, European start-ups are on a quest to transform one of the world's most polluting industries: fashion. The business is responsible for 10% of global carbon emissions, more than all international flights and maritime… Read

Business

Coca-Cola recovery continues as it grows leaner in pandemic

2 Comments

Coca-Cola measured gradual improvement in the third quarter as it focused on emerging leaner from the global pandemic. Revenue fell 9% to $8.7 billion, edging out Wall Street expectations of $8.4 billion, according to analysts polled by FactSet. It was far better than the 28% drop in revenue in the… Read

Business

Asian stocks follow Wall Street lower on lack of U.S. aid plan

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Asian stocks followed Wall Street lower on Thursday as investors watched Washington for signs of whether political leaders can agree on an economic aid plan in the two weeks before the Nov. 3 presidential election. Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. On Wall Street, the benchmark… Read

Business

Japan to make plastic recycling mandatory for large corporate users

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The Japanese government plans to make the recycling of plastic materials used at offices and factories mandatory from April 2022 at the earliest to increase the low recycling rate for plastic waste resulting from corporate activities. Of the 8.91 million tons of plastic waste Japan generated in 2018, 4.62 million… Read

Business

China's BYD, Hino announce electric truck venture

5 Comments

Chinese electric car brand BYD Auto and Japanese truck maker Hino Motors said Wednesday they are jointly setting up a company to develop battery-powered trucks and buses. The venture is one of a series of tie-ups between Chinese and foreign automakers to share the multibillion-dollar costs of electric development. Beijing… Read

Business

Toyota Tsusho bets on start-up Tugende's small loans to boost Africa business

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The trading arm of the Toyota Group has invested $4 million in Ugandan start-up Tugende, saying it hopes the firm's loans to small, independent businesses will also help customers buy the carmaker's vehicles. Launched in 2012 in Uganda, Tugende began by offering motorcycle loans to riders and has since expanded… Read

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