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Scandal-hit Nissan suspends production for Japan market

Scandal-hit Nissan suspends production for Japan market

YOKOHAMA: Nissan said Thursday it was suspending all production destined for the local market, as Japan’s number-two automaker grapples with a mounting inspection scandal that has already seen it recall some 1.2 million vehicles. The announcement comes weeks after the company admitted that staff without proper authorisation had conducted final inspections on some vehicles intended […]

October 19, 2017 | By | Reply More
Could the 1987 stock market crash happen again?

Could the 1987 stock market crash happen again?

NEW YORK: On the 30th anniversary of the 1987 stock market crash, US stocks are at a record high and investors are concerned that steep valuations may mean a correction is overdue, despite healthy corporate earnings and economic growth. But could a repeat of “Black Monday” happen today? Modern trading technology, changes to the way […]

October 19, 2017 | By | Reply More
Philippines’ Metrobank buys out ANZ credit card stake

Philippines’ Metrobank buys out ANZ credit card stake

MANILA: The Philippines’ second biggest bank said on Thursday it will spend US$288 million buying out the minority stake that Australia’s ANZ has in a credit card joint venture. Metrobank will take over ANZ’s 40% share in Metrobank Card Corp. as part of a deal to turn the tie-up into a wholly-owned subsidiary. Metrobank, short […]

October 19, 2017 | By | Reply More
Indonesia’s transport group Rimau to raise money to buy AirAsia unit

Indonesia’s transport group Rimau to raise money to buy AirAsia unit

JAKARTA: Shareholders of Indonesian transportation firm PT Rimau Multi Putra Pratama Tbk have approved the company’s plans to raise 3.4 trillion rupiah (US$251.57 million) through a rights issue to buy PT Indonesia AirAsia. Rimau will sell 13.64 billion new shares and PT Fersindo Nusantara and AirAsia Investment Ltd – the current owner of Indonesia Airasia […]

October 19, 2017 | By | Reply More
United Airlines profit falls, sees margin decline this quarter

United Airlines profit falls, sees margin decline this quarter

NEW YORK: United Airlines on Wednesday said its third-quarter net income fell slightly less than investors had feared as the third-largest US carrier was hit by US$185 million in pre-tax losses caused by canceled flights during the Atlantic hurricane season. Looking forward, it forecast a pre-tax margin of between 3% and 5% for the current […]

October 18, 2017 | By | Reply More
Ford to recall 1.34 million trucks in North America for door latch fix

Ford to recall 1.34 million trucks in North America for door latch fix

WASHINGTON: Ford Motor Co said on Wednesday it would recall 1.34 million 2015-17 Ford F-150 and 2017 Ford Super Duty trucks in North America to add water shields to side door latches at a cost of US$267 million. The No.2 US automaker said the safety recall is due to a frozen door latch or a […]

October 18, 2017 | By | Reply More
Nasdaq, Singapore Exchange sign pact for collaborative listings

Nasdaq, Singapore Exchange sign pact for collaborative listings

NEW YORK: Singapore Exchange Ltd and Nasdaq Inc announced a pact on Wednesday that will allow firms to tap the capital markets possibly simultaneously under the two exchange operators’ namesake exchanges. The tie-up would help fast-growing Asian companies to list on the SGX and subsequently pursue a Nasdaq listing as they expand globally, SGX Chief […]

October 18, 2017 | By | Reply More
Goldman’s fledgling consumer bank draws questions from curious analysts

Goldman’s fledgling consumer bank draws questions from curious analysts

Goldman’s fledgling consumer bank draws questions from curious analysts Reuters NEW YORK: As Goldman Sachs Group Inc has unveiled more details about its strategy and financial targets to satisfy investor demands, Wall Street’s attention has turned to a business so small and new that there may not be much to disclose. On Tuesday, analysts questioned […]

October 18, 2017 | By | Reply More
Habitual cheat: Kobe Steel faked product data for more than 10 years, says source

Habitual cheat: Kobe Steel faked product data for more than 10 years, says source

Habitual cheat: Kobe Steel faked product data for more than 10 years, says source Reuters TOKYO: When cheating becomes habitual, the consequences could be costly. Embattled Kobe Steel Ltd said on Tuesday the US Justice Department is asking the steelmaker to provide documents related to its data falsification scandal. That came after a source with […]

October 18, 2017 | By | Reply More
AmEx profit rises 19% on loan growth

AmEx profit rises 19% on loan growth

NEW YORK: Credit card issuer American Express Co reported about 19% jump in quarterly profit as higher billings and loan growth helped offset a jump in costs. Net income attributable to common shareholders rose to US$1.36 billion, or US$1.50 per share, in the third quarter ended Sept. 30, from US$1.14 billion, or US$1.20 per share, […]

October 18, 2017 | By | Reply More