Business

Nissan to temporarily halt production at Kyushu plant due to coronavirus

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Nissan Motor Co will temporarily halt production at its plant in Kyushu due to the coronavirus, the Japanese automaker said on Monday, as the outbreak starts to strain the global supply chain. In a statement, Nissan, the first automaker to halt production at a plant in Japan because of the… Read

Business

Airlines face growth warning as coronavirus curtails Singapore Airshow

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Asian airlines face "drastic" cuts in their planned growth because of the coronavirus crisis, an industry group warned, adding gloom to an already depleted Singapore Airshow as more companies scaled back plans on Monday. The Singapore Airshow from Feb 11 to 16 is proceeding, but the exhibition center is pockmarked… Read

Business

Jaguar Land Rover to cut output at two UK factories

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Jaguar Land Rover will reduce or stop production on certain days at two of its British factories over the next few weeks as Britain's biggest carmaker pursues cost-cutting measures in response to falling demand. JLR posted a 2.3% drop in retail sales in the three months to the end of… Read

Business

Dozens of Asia trade fairs, conferences postponed amid coronavirus fears

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More than two dozen large trade fairs and industry conferences in Asia have been postponed because of the spread of the China coronavirus, shuttering events where billions of dollars worth of deals have been signed in the past. The pushed back events, including some scheduled as late as the end… Read

Business

U.S. activist fund takes substantial stake in SoftBank Group

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A major U.S. activist fund has confirmed a "substantial investment" in Japan's SoftBank Group, boosting the stock of the giant technology investor. "Elliott's substantial investment in SoftBank Group reflects its strong conviction that the market significantly undervalues SoftBank's portfolio of assets," said a spokesperson at the U.S. fund. "Elliott has… Read

Business

Tesla stock is soaring. Madness or visionary investing?

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Eight months after it seemed headed for the corporate junkyard, Tesla is now worth more than General Motors, Ford and Fiat Chrysler combined, even though the Big Three together sell more cars and trucks in two weeks than Tesla does in a whole year. In a reversal of fortune analysts… Read

Business

Foxconn to start making face masks alongside iPhones in China

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Foxconn will start manufacturing surgical face masks alongside Apple products at its Shenzhen factory, the world's biggest contract electronics maker announced in response to the deadly novel coronavirus outbreak. "Face masks are now the standard equipment in our fight against the epidemic," said Foxconn's 1200 word statement on its official… Read

Business

Its Wuhan plants shut, Honda reports quarterly profit drop

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Japanese automaker Honda reported Friday a nearly 31% dive in its October-December profit as strong demand for its motorcycles failed to make up for falling vehicles sales. Honda reported quarterly profit of 116.4 billion yen ($1.1 billion), down from 168 billion yen the same period the previous year. Sales for… Read

Business

Uniqlo shuts around half of its China stores due to coronavirus

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Japan's Fast Retailing, which operates casual clothing chain Uniqlo, said it has temporarily closed around 370 of its 750 stores in China due to the coronavirus outbreak. China has been a key growth market for the company, which faces a saturated market and weak consumer spending in Japan. In mainland… Read

Business

Japan household spending falls more than expected in December

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Japanese household spending fell at a much faster pace than expected in December, sliding for the third straight month in a sign consumers are having a hard time coping with a sales tax hike. The world’s third-largest economy is struggling to regain momentum after last October’s sales tax hike led… Read

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