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.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, acc...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citi...
The 83rd Venice Film Festival has opened on the Lido, bringing Hollywood stars and leading filmmakers together for a programme dominated by war, po...
Russian President Vladimir Putin has said that he thinks there is a chance of a peace being reached with Ukraine. He told the Eastern Economic Forum in Vladivostok, Russia that he believed there was "a chance of finding a solution," to the conflict.
The Iranian Health Ministry said at least 18 people were killed and 142 others injured in U.S. airstrikes carried out between 30 August and 2 September.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 3rd of September, covering the latest developments.
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
Thousands of residents of Spain’s North African enclave of Ceuta took to the streets on Wednesday to protest the government’s handling of a migration crisis that followed a deadly border surge in July.
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
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
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