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.
Finland and Sweden deployed fighter aircraft on Thursday after a group of Russian military planes was detected over the Gulf of Finland, the Finnis...
The Middle East arrived at the United Nations this week with the consequences of a war that is no longer contained to one front. From Israel and Ir...
Twelve Kazakh military personnel died after being swept out to sea during a naval training exercise in the western Mangistau region, authorities sa...
Shipping traffic through the Strait of Hormuz remained low on Thursday, as Iran reiterated that it will neither enter into new negotiations with the United States nor re-open the Strait as long as its conditions are not met, despite recent indirect talks in New York mediated by Qatar.
As the Ukraine war is highlighted by some leaders during the United Nations' 81st General Assembly meeting in New York, Russian forces attacked the Ukrainian capital Kyiv early on Thursday with ballistic missiles, killing two people and injuring six, Mayor Vitali Klitschko said.
The 81st UN General Assembly continues in New York on Wednesday, with another day of high-level speeches and diplomatic meetings. The wars in the Middle East and Ukraine, global security and international cooperation remain at the centre of discussions.
The 81st UN General Assembly has wrapped up its third day in New York on Thursday, with world leaders delivering high-level speeches and holding diplomatic meetings.
Saudi Arabia, Türkiye and Pakistan will hold an urgent high-level meeting under a joint defence pact to discuss ways to support the kingdom amid attacks by Yemen's Iran-aligned Houthis. The meeting comes as Tehran seeks to distance itself from the rapid advance of its Houthi allies.
Baku is hosting the second Azerbaijan International Investment Forum (AIIF 2026) and it’s attracting more interest this year, Azerbaijan’s Deputy Prime Minister told AnewZ. “The agenda is very impressive. More guests, more interest,” he said.
Warren Buffett has stepped down as chairman of Berkshire Hathaway, marking the end of one of the most influential leadership tenures in corporate history and completing a succession process that has been years in the making.
Nigerian billionaire Aliko Dangote launched Africa's biggest-ever share sale on Monday, opening the oil refinery that has remade the country's fuel market to public ownership for the first time.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
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