Danish citizen arrested in Germany for allegedly spying for Iran
German prosecutors have arrested a Danish citizen suspected of spying for Iran, reportedly gathering intelligence on Jewish individuals and sites in B...
Honda and Nissan plan to merge, forming the world’s third-largest automaker, as Japan’s car giants accelerate efforts to lead the shift to electric and autonomous vehicles.
Japanese car manufacturers Honda and Nissan have revealed plans to merge, positioning themselves as the world's third-largest automaker by sales. The move comes as the automotive industry undergoes significant transformation amidst the shift away from fossil fuels.
The two companies signed a memorandum of understanding on Monday, with Nissan's smaller alliance partner, Mitsubishi Motors, also agreeing to participate in discussions about integrating their operations.
Japanese automakers have been slower than their global competitors in adopting electric vehicle (EV) technologies. The merger aims to streamline costs and accelerate their transition to electrification.
Speculation about a potential merger emerged earlier this month, with reports suggesting the talks were partly influenced by Taiwanese electronics giant Foxconn’s interest in a collaboration with Nissan. Nissan currently has an alliance with France's Renault SA and Mitsubishi Motors.
In August, Nissan, Honda, and Mitsubishi announced plans to share EV components such as batteries and collaborate on autonomous driving software development. These initiatives followed a preliminary agreement between Nissan and Honda in March.
Nissan has faced challenges recently, with Fitch Ratings downgrading its credit outlook to "negative," citing reduced profitability due to price cuts in the North American market. However, the company retains a robust financial foundation, with $9.4 billion in cash reserves.
Despite financial difficulties, Nissan's share price has shown resilience, with Monday's Tokyo trading seeing a 1.6% increase. Shares surged by over 20% last week following news of the potential merger.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Tesla’s new car registrations plunged sharply in June, dropping 64.4% in Sweden and 61.6% in Denmark compared to last year, highlighting growing challenges for the U.S. electric vehicle maker in these Nordic markets.
More than $2.5 billion in new deals and commitments between the United States and African partners were announced at the 17th summit, underscoring the U.S. commitment to prioritizing trade over aid by engaging Africans as equal partners in investment-driven growth, the State Department announced.
Gold prices edged higher on Monday after slipping to their lowest level in more than a month, supported by a weakening U.S. dollar and easing geopolitical tensions that have tempered safe-haven demand.
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tourism and protect local infrastructure.
Polish refiner Orlen will not buy Russian oil for its Czech refinery after 30 June, Chief Executive Ireneusz Fafara said on Monday. "We freed Central Europe from Russian oil today," Fafara stated.
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