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.
Shanghai braced for a double threat on Wednesday as tropical storm Co-May made landfall and a powerful earthquake off Russia's coast triggered tsunami...
Meta announced it will halt political, electoral, and social issue ads in the EU from October due to the region's new Transparency and Targeting of Po...
U.S. President Donald Trump said on Tuesday he may not attend November’s G20 summit in South Africa, citing longstanding disagreements with Pretoria...
The Environmental Protection Agency has moved to erase the foundation of America’s climate regulations. On Tuesday, it unveiled a proposal to rescin...
The U.S. Geological Survey said the shallow quake struck at a depth of 19.3 km (12 miles), 119 km east-southeast of Petropavlovsk-Kamchatsky, a city o...
Shanghai braced for a double threat on Wednesday as tropical storm Co-May made landfall and a powerful earthquake off Russia's coast triggered tsunami warnings, prompting mass evacuations, flight cancellations, and strict travel restrictions.
Meta announced it will halt political, electoral, and social issue ads in the EU from October due to the region's new Transparency and Targeting of Political Advertising regulation (TTPA).
U.S. President Donald Trump said on Tuesday he may not attend November’s G20 summit in South Africa, citing longstanding disagreements with Pretoria’s domestic and foreign policies.
The Environmental Protection Agency has moved to erase the foundation of America’s climate regulations. On Tuesday, it unveiled a proposal to rescind the “endangerment finding,” the legal opinion that lets it curb greenhouse gas emissions.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
Microsoft is reportedly in advanced negotiations to revise its agreement with OpenAI, aiming to maintain access to the startup’s cutting-edge AI technology even if OpenAI achieves artificial general intelligence (AGI), according to Bloomberg News, which cited sources familiar with the matter.
Türkiye is pressing Iraq to include a clause in a new energy deal that guarantees full utilization of the Kirkuk-Ceyhan oil pipeline, which has remained idle since 2023 due to legal disputes.
European automakers including BMW and Mercedes-Benz are set to gain €4 billion from a new EU-U.S. trade agreement that lowers tariffs on vehicle exports. The move offers relief in a key market but still leaves duties higher than pre-2024 levels.
Oil prices rose on Monday after the United States clinched a trade deal with the European Union and may extend a tariff pause with China, relieving concerns that higher levies could have hurt economic activity and limited fuel demand.
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