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.
Ferrari's Charles Leclerc claimed victory in a dramatic British Grand Prix after a late Safety Car and mechanical problems for rivals reshaped the rac...
Regional economic cooperation took centre stage in Baku as the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Ba...
Thousands of mourners gathered in Tehran on Sunday as Iran held funeral prayers for Ayatollah Ali Khamenei and four members of his family on the secon...
Humanoid robots stumbled, collided and recovered as they battled for the RoboCup 2026 football title on Sunday (5 July), showcasing the latest advance...
U.S. President Donald Trump addressed crowds on Washington's National Mall on Saturday night after severe weather delayed his appearance at celebratio...
Ferrari's Charles Leclerc claimed victory in a dramatic British Grand Prix after a late Safety Car and mechanical problems for rivals reshaped the race at Silverstone Circuit.
Regional economic cooperation took centre stage in Baku as the 28th Annual Meeting of the Board of Governors of the Black Sea Trade and Development Bank was held alongside a Business Forum. The event brought together government officials, business leaders and experts from across the region.
Humanoid robots stumbled, collided and recovered as they battled for the RoboCup 2026 football title on Sunday (5 July), showcasing the latest advances in robotics and artificial intelligence at the world's largest competition of its kind.
U.S. President Donald Trump addressed crowds on Washington's National Mall on Saturday night after severe weather delayed his appearance at celebrations marking the United States' 250th independence anniversary.
Russia's Defence Ministry has said its forces are clearing the town of Lyman in Donetsk of Ukrainian forces, Moscow's state news agency Tass reported. Meanwhile, Russian attacks killed at least six people across three Ukrainian regions on Friday, regional officials said.
President Donald Trump said Iran is keen to reach a deal with the United States, claiming Washington had paused engagement to allow funeral ceremonies for late Iranian Supreme Leader Ali Khamenei.
Governments are tightening restrictions on teenagers’ use of social media amid growing concerns over mental health, online safety and platform design, but questions remain over enforcement and whether bans can meaningfully change behaviour.
Thousands of mourners gathered in Tehran on Sunday as Iran held funeral prayers for Ayatollah Ali Khamenei and four members of his family on the second day of mass processions. Three of Khamenei's sons attended the ceremony, while his successor, Mojtaba Khamenei, made no public appearance.
Russian President Vladimir Putin has congratulated U.S. President Donald Trump on the 250th anniversary of American independence, saying Russia and the United States share a special responsibility for maintaining global security as the world's two largest nuclear powers.
European carmakers have urged the European Union to make sure new “Made in EU” rules do not put existing investments in Türkiye and Morocco at risk.
Microsoft is expected to announce a new round of job cuts as early as next week as the technology giant looks to reduce costs, according to reports.
A Swedish court has ordered Alphabet-owned Google to pay about $1.5 billion in antitrust damages to price comparison platform PriceRunner, in one of Europe's largest competition-related awards against a major technology company.
U.S. President Donald Trump earned more than $1bn from cryptocurrency-related business ventures last year, according to his mandatory 2025 financial disclosure.
Rocket Lab has agreed to acquire Iridium Communications in an $8 billion deal, giving the space company a global satellite communications network and accelerating its expansion beyond launch services. The acquisition marks a major step in its ambition to become a fully integrated space business.
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