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February 24, 2020
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Reuters - Business

Renault says reserves the right to seek damages depending on Ghosn probe

Reuters
FILE PHOTO: The logo of Renault carmaker is pictured at a dealership in Les Sorinieres, near Nantes, France, February 19, 2020. REUTERS/Stephane Mahe PARIS (Reuters) – Renault (RENA.PA) said on Monday it had filed a civil-party petition after French prosecutors last week opened a formal investigation into alleged misappropriation of......
Reuters - Business

U.S. Treasury’s Mnuchin: Tax certainty needed on global basis

Reuters
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee during a hearing on the President’s FY2021 Budget on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo/File Photo RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to......
Reuters - Business

Tesla resumes tree cutting in Germany to build Gigafactory

Reuters
FRANKFURT (Reuters) – Tesla Inc said it had resumed tree cutting in Gruenheide, Germany so it can construct its first European car and battery factory following moves by environmentalists to stop local deforestation. FILE PHOTO: Logged trees are seen, after a court ordered to stop clearing forest land for a......
Reuters - Business

Tesla gets court approval to clear forest for German Gigafactory

Reuters
FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song BERLIN (Reuters) – Tesla Inc (TSLA.O) got approval from a German court on Thursday to continue to cut down forest near the capital Berlin to build its......
Reuters - Business

Nissan’s new CEO says willing to be fired if no turnaround

Reuters
YOKOHAMA (Reuters) – Nissan’s (7201.T) new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan’s second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. FILE PHOTO: Nissan Motor chief executive Makoto Uchida......
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Nissan CEO sees earnings, cashflow under pressure this business year

Reuters
FILE PHOTO: Nissan Motor chief executive Makoto Uchida speaks during a news conference at Nissan Motor headquarters in Yokohama, Japan, December 2, 2019. REUTERS/Kim Kyung-Hoon/File Photo YOKOHAMA (Reuters) – Nissan Motor Co (7201.T) Chief Executive Makoto Uchida on Tuesday said he expects weak global car sales to keep the Japanese......
Reuters - Business

Amazon’s Bezos pledges $10 billion to climate change fight

Reuters
FILE PHOTO: Founder, Chairman, CEO and President of Amazon Jeff Bezos speaks during an event about Blue Origin’s space exploration plans in Washington, U.S., May 9, 2019. REUTERS/Clodagh Kilcoyne NEW YORK (Reuters) – Amazon Chief Executive Officer Jeff Bezos will commit $10 billion to fund scientists, activists, nonprofits and other......
Reuters - Business

Great Wall says to buy GM’s Thailand car plant

Reuters
FILE PHOTO: A general view of the General Motors (GM) plant in the Eastern Seaboard Industrial Estate in Rayong province, Thailand February 22, 2011. REUTERS/Chaiwat Subprasom/File Photo BEIJING (Reuters) – China’s Great Wall Motor (601633.SS) said on Monday it had signed a binding agreement to purchase a car plant from......
Reuters - Business

Toyota to resume China output at three plants next week

Reuters
FILE PHOTO: A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su TOKYO (Reuters) – Toyota Motor Corp (7203.T) said on Saturday it plans to resume output at three of its four main auto plants in China next week. The......
Reuters - Business

Factbox: Carmakers look to resume China output after virus forced closures

Reuters
(Reuters) – Automakers including Daimler, Ford and Tesla are looking to resume production in China after being forced to shut factories following the outbreak of a new coronavirus. FILE PHOTO: A man walks past the logo of Hyundai Motor during the 2019 Seoul Motor Show in Goyang, South Korea, March......
Reuters - Business

Airbus says higher U.S. tariffs on EU planes will harm U.S. airlines, consumers

Reuters
FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau/File Photo WASHINGTON (Reuters) – The U.S. government’s decision to raise tariffs on European-built aircraft will hit U.S. airlines already facing a shortage of aircraft and complicate efforts to reach a......
Reuters - Business

Injured by China’s trade practices? Call 202-395-3900, USTR says

Reuters
WASHINGTON (Reuters) – The U.S. Trade Representative’s office said on Friday it has established a dispute resolution office and complaint hotline to enforce President Donald Trump’s “Phase 1” trade deal with China, which takes effect on Saturday. FILE PHOTO: Chinese Vice Premier Liu He and U.S. President Donald Trump sign......
Reuters - Business

Bridgewater, Viking among big hedge funds that added Tesla in fourth quarter before rally

Reuters
FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo NEW YORK (Reuters) – Billionaire Ray Dalio’s Bridgewater Associates, Viking Global Investors, and Granite Point Capital were among prominent hedge funds placing new bets on electric......
Reuters - Business

U.S. January industrial output falls on weather, Boeing drop

Reuters
FILE PHOTO: An assembly line worker works on the production line at Renegade RV manufacturing plant in Bristol, Indiana, U.S., April 16, 2019. REUTERS/Tim Aeppel WASHINGTON (Reuters) – U.S. industrial production fell 0.3% in January as unseasonably warm weather held down the output of utilities and Boeing Co (BA.N) slowed......
Reuters - Business

Renault plans $2.2 billion ‘no taboos’ cost cuts after first loss in a decade

Reuters
PARIS (Reuters) – Renault’s (RENA.PA) first loss in a decade triggered a no-taboos commitment to cut costs by 2 billion euros ($2.2 billion) over the next three years from the carmaker on Friday, as it tries to put the Carlos Ghosn affair behind it. As ex-Volkswagen brand manager Luca de......
Reuters - Business

Mitsubishi Motors delays factory restart in China on coronavirus

Reuters
FILE PHOTO: People walk in front of Mitsubishi Motors Corp’s headquarters in Tokyo, Japan November 20, 2018. REUTERS/Toru Hanai TOKYO (Reuters) – Mitsubishi Motors Corp (7211.T) is postponing the restart of its factory with Guangzhou Automobile Group in Hunan province until 27 due to the coronavirus outbreak, the Japanese automaker......
Reuters - Business

Renault’s 2020 vision clouded as ‘tough’ year leads to first loss in a decade

Reuters
PARIS (Reuters) – Renault (RENA.PA) reported its first loss in a decade and cut its 2020 margin target on Friday, as it attempts to draw a line under the Carlos Ghosn affair and reboot its Nissan alliance. The logo of French carmaker Renault is seen before the company’s 2019 annual......
Reuters - Business

Tesla to recall 3,183 Model X vehicles in China: market regulator

Reuters
FILE PHOTO: A Tesla Model X electric car is seen at Brussels Motor Show, Belgium, January 9, 2020. REUTERS/Francois Lenoir/File Photo BEIJING (Reuters) – Tesla Inc (TSLA.O) will recall 3,183 Model X vehicles in China, because of a potential issue that could make steering harder and increase the risk of......
Reuters - Business

Nissan slashes profit outlook after sales slide, says more restructuring needed

Reuters
YOKOHAMA (Reuters) – Nissan Motor Co (7201.T) on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a company still reeling from the scandal surrounding former leader Carlos Ghosn. Nissan Motor Co CEO Makoto......
Reuters - Business

Nissan slashes full-year profit forecast after sales slump

Reuters
Nissan Motor’s logo is pictured at its headquarters in Yokohama, Japan February 13, 2020. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – Nissan Motor Co (7201.T) on Thursday cut its annual operating profit forecast by 43%, hit by a slump in vehicle sales and heaping more pressure on new management to fix a......

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