Honda and Nissan merger to create global car giant

Honda and Nissan plan to merge as the two Japanese firms seek to fight back against competition from the Chinese car industry.The integration would create one of the world's biggest car producers alongside Toyota, Volkswagen, General Motors and Ford.The potentially multibillion dollar deal to combat "the rise of Chinese power" was a key driver behind the plan, said Honda's chief executive Toshihiro Mibe.Mr Mibe…