Nissan Motor announced major cost-cutting measures, including the elimination of 11,000 additional jobs and reduced production, as the automaker faces declining profits and tough market conditions.
The automaker’s operating profit for the fiscal year ending March 2025 plummeted by 88%, totaling ¥69.8 billion ($472 million), compared to the previous year. Nissan has struggled with declining sales in major markets like the United States and China.
Adding to its difficulties, the company recently replaced its CEO and continues to grapple with the impact of U.S. tariffs and rising competition from Chinese electric vehicle manufacturers, particularly in Southeast Asia.
Newly appointed CEO Ivan Espinosa is tasked with reviving Nissan’s declining brand value and steering the company toward recovery. The automaker aims to adapt its strategies to counter market challenges while positioning itself for sustainable growth in the evolving automotive landscape.
One person has died and at least 16 others have been injured after a car drove into crowds during Berlin's annual Christopher Street Day (CSD) Pride c...
Venezuela has formally notified the United Nations that it is withdrawing from the International Criminal Court (ICC), ending its participation in the...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 26th of July, covering the latest developments you need to kno...
Russian authorities said 11 people, including four children, had been killed by Ukraine in an overnight attack on a holiday camp, accusing Kyiv on Saturday of deliberately targeting civilians.
The U.S. military said it completed a fresh wave of strikes on Iran late on Thursday, marking the 13th consecutive night of American attacks. The latest operation lasted more than two hours, according to U.S. Central Command.
Powerr had been fully restored across Georgia following a nationwide blackout early on Friday, the country’s state-owned electricity operator, the Georgian State Electrosystem has confirmed.
Six candidates vying to become the next United Nations Secretary-General have called for restoring the organisation's credibility, strengthening multilateralism and reforming the UN, during the first public town hall debate ahead of a decisive Security Council vote next week.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 25th of July, covering the latest developments you need to know.
Paramount Skydance agreed to pause its acquisition of Warner Bros Discovery until after a ruling on a challenge by states to the deal, plunging the $110 billion deal into further uncertainty.
China's Foreign Ministry has said it is closely monitoring the United Kingdom's nationalisation of British Steel. Prior to the British government fully taking over the loss-making company on Thursday, it was previously owned by Chinese private steelmaker Jingye.
Apple is closing in on Nvidia's position as the world's most valuable publicly traded company, as investors increasingly bet the iPhone maker can turn artificial intelligence into sustained earnings growth.
AI-powered shopping assistant Phia has been accused of using "cookie stuffing" to claim affiliate commissions for purchases it did not generate, according to a Bloomberg investigation. The company says the issue has now been resolved.
The UK government has nationalised British Steel, taking full ownership of the country's only primary steelmaker from its Chinese owners to safeguard the future of the UK's steel industry.
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