Business

U.S. dips in competitiveness index as Singapore takes top spot

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The United States is less competitive than it was a year ago and the global economy remains hobbled by low productivity despite a decade of cheap money from central banks, the World Economic Forum said Wednesday. In its latest assessment of the factors behind productivity and long-term economic growth, the… Read

Business

Nissan names head of China business as new CEO

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Nissan has tapped the head of its China business, Makoto Uchida, as its new president and chief executive, to help lead a recovery from the leadership crisis and sinking profitability that followed the arrest of its former chairman, Carlos Ghosn, last year. Uchida is replacing Hiroto Saikawa, who resigned after… Read

Business

Japan labor body to step up support for foreigners, freelancers

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Japan's largest labor organization will step up support for foreign workers and freelancers who find it difficult to join existing labor unions or form new unions by themselves, a source close to the matter said Tuesday. The Japanese Trade Union Confederation, known as Rengo, will boost the support for nonregular… Read

Business

Sony's PlayStation 5 launch set for late 2020

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Sony said Tuesday its next-generation PlayStation 5 console, with new immersive features giving players the tactile experience of virtual worlds, would launch for the 2020 holiday season. The Japanese electronics firm, which had teased its new console earlier this year, said a major new feature of the updated console would… Read

Business

Japan's August household spending rises for 9th month, but wages fall

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Japan's household spending rose for a ninth straight month in August, offering some relief for the export-dependent economy amid weak global demand and a protracted U.S.-China trade war. But separate data on Tuesday showed wages fell for an eighth consecutive month, pointing to further strains on consumers as the government… Read

Business

Nissan board set for tense meeting over future leadership

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The board of Nissan Motor Co will meet on Tuesday as a split has emerged over the scandal-hit automaker's next CEO, putting the head of the nominations committee at odds with an influential executive, people familiar with the matter said. Directors, which include those from top shareholder Renault SA, will… Read

Business

Business economists foresee slowdown in U.S. growth

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The nation's business economists think President Donald Trump's trade war with China will contribute to a sharp slowdown in economic growth this year and next, raising concerns about a possible recession starting late next year. The latest survey by a panel of 51 forecasters with the National Association for Business… Read

Business

Harley struggles to fire up new generation of riders with electric bike debut

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Harley-Davidson Inc is betting on electric motorcycles to attract the next generation of younger and more environmentally conscious riders to reverse declining U.S. sales. But as Harley ships its first "LiveWire" bikes - priced at $29,799 - to dealers, there is little evidence the 116-year-old brand is catching on with… Read

Business

Airline bankruptcies surge, leaving rivals vying for planes

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Airline bankruptcies have increased this year at the fastest ever rate, led by the collapse of India's Jet Airways, British travel group Thomas Cook and Avianca of Brazil, according to industry data. "2019 has seen the fastest growth in airline failure in history," said airline consulting firm IBA, which has… Read

Business

Japan drug price reforms risk hurting investment: Bristol-Myers CEO

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Japan’s “overly restrictive” drug pricing policies risk diverting foreign direct investment to China and other markets, the chief executive of Bristol-Myers Squibb said. The Japanese government made reforms in 2018 that change how its national health system pays for new and innovative drugs. But those changes are not science-based and… Read

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