Business
China posts weakest growth in 29 years as trade war bites
China's economic growth slowed to its weakest in nearly 30 years in 2019 amid a bruising trade war with the United States and sputtering investment, and more stimulus steps are expected this year to help avert a sharper slowdown. But data on Friday also showed the world's second-largest economy ended… Read
Renault chairman says there is 'real desire' to make Nissan alliance work
Renault Chairman Jean-Dominique Senard said on Thursday there was a "real desire" at the helm of the carmaker's alliance with Nissan to make it a success, dismissing suggestions the two decade partnership might be on the rocks. The Franco-Japanese alliance, long dogged by internal rivalries, was thrown into turmoil by… Read
Japan posts record machinery orders growth in November
Japan's core machinery orders posted record monthly growth in November, in a bright sign for business spending which has helped sustain a fragile recovery in the world's third-largest economy. Cabinet Office data on Thursday showed that core orders, a highly volatile data series regarded as an indicator of capital spending… Read
WeWork debacle has unicorn investors seeking cover
In the months since office-sharing startup WeWork's botched public debut, mid- and late-stage investors in big start-ups have been pushing for more safeguards in case their firms fail to go public or sell shares at a lower valuation than pre-IPO financing rounds. Fundraising terms are rarely made public, but more… Read
Nissan adds nearly 346,000 vehicles to Takata recall saga
Nissan is recalling nearly 346,000 vehicles worldwide to replace dangerous Takata air bag inflators that can explode and hurl shrapnel. The Nissan front passenger inflators are among 10 million from 14 different automakers that Takata is recalling. It's the last recall that the bankrupt Takata agreed to in a 2015… Read
3 of Japan’s best whiskies about to disappear as shortages loom
These days, just about everyone knows that Suntory and Kirin make whisky, thanks to their glowing reviews and international marketing muscle (including Suntory’s high-profile placement in "Lost in Translation"). Ask well-informed Japanese whisky fans, though, and they’ll tell you you’re missing out if you haven’t tried the whisky from distiller Nikka. Nikka’s… Read
Japan corporate bankruptcies rise in 2019 for 1st time in 11 years
The number of corporate bankruptcies in Japan increased in 2019 for the first time in 11 years, affected by a consumption tax hike, labor shortages and a series of natural disasters, a credit research agency said Tuesday. Business failures with debts of at least 10 million yen rose 1.8 percent… Read
SoftBank-funded hotel firm Oyo lays off 10% of India staff
Indian hotel giant Oyo said Tuesday it is cutting 1,000 employees, or 10 percent of its local staff, as it battles multiple allegations including bribery and pressure from Japanese backer SoftBank to cut costs. An Indian newspaper said 2,400 jobs would go in total and that the firm, which has… Read
New Boeing chief executive: Planemaker can be much better
Boeing Co's new chief executive, David Calhoun, assumed the job on Monday as the U.S. planemaker battles to recover from two fatal crashes of 737 MAX planes that killed 346 people in five months and led to the model's worldwide grounding in March. Calhoun, 62, a longtime Boeing director named… Read
China trade surplus with U.S. drops 8.5% to $296 bil in 2019
China's trade surplus with the United States narrowed last year as the world's two biggest economies exchanged punitive tariffs in a bruising trade war, data showed Tuesday, just as the two prepare to sign a deal dialling down tensions. The huge difference in trade traffic is a key bone of… Read
