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by Shingo ITO Agence France-Presse TOKYO, Japan (AFP) — Japanese prosecutors formally charged Carlos Ghosn with financial misconduct for under-reporting his salary and also served a fresh warrant on separate allegations, local media reported Monday, meaning the tycoon will likely spend Christmas in a cell. Former Nissan chairman Ghosn, 64, has been in detention since his November 19 arrest on suspicion of under-declaring his income by some five billion yen ($44 million) between 2010 and […]
TOKYO, Japan (AFP) — Nissan Friday announced plans to recall approximately 150,000 vehicles owing to improper tests on new units, dealing a fresh blow to the Japanese car giant following the shock arrest of former chairman Carlos Ghosn. “Nissan has recently found several non-conformities that may have caused inaccurate pass/fail judgments during the inspection process,” the company said in a statement, adding it would “promptly” recall as many as 150,000 units in Japan. It confirmed […]
WASHINGTON, United States (AFP) — President Donald Trump said on Monday he is “not happy” with General Motors’ decision to cut thousands of jobs and is putting pressure on the auto giant. Trump said at the White House that he wants GM, which announced plans to shut down seven plants, to “get back in there soon. We have a lot of pressure on them.” GM’s announcement came as a shock to the Trump administration, which […]
by Richard CARTER / Anne BEADE Agence France Presse TOKYO, Japan (AFP) — Nissan board members appeared poised to oust disgraced tycoon Carlos Ghosn as chairman Thursday, after his spectacular arrest for financial misconduct stunned the car industry and the business world. Ghosn stands accused of under-reporting his income by millions of dollars and a host of other financial irregularities, in a stunning fall from grace for the once-revered titan of the auto sector. […]
by Shingo ITO Agence France-Presse TOKYO, Japan (AFP) — Japanese car giant Toyota upgraded its full-year forecast Tuesday, as the firm posted a 16-percent gain in net profit for the six months to September thanks to steady global sales and cost-cutting efforts. The maker of the Camry sedan and Prius hybrid revised upward its net profit forecast to 2.3 trillion yen ($20.3 billion) from its earlier estimate of 2.12 trillion yen for the year to […]
by Roland JACKSON Agence France-Presse LONDON, United Kingdom (AFP) — James Bond’s favorite carmaker Aston Martin on Wednesday launched on the London stock market, valuing the British luxury sports car brand at £4.3 billion ($5.6 billion, 4.9 billion euros). Aston, which has a long-running association with the fictional British spy, said in a statement that it has priced its initial public offering (IPO) at £19 per share in the middle of its stated range. The […]
SEOUL, South Korea (AFP) — A group of BMW owners in South Korea filed a criminal complaint against the German automaker Thursday over alleged delays in recalling more than 100,000 cars after a spate of engine fires, their lawyer said. The timing of the recall, which was issued last month, is already the subject of a government probe, after more than 30 BMW cars — mostly the 520d sedan model — caught fire this year […]
FRANKFURT AM MAIN, Germany (AFP) — German luxury carmaker BMW on Wednesday confirmed it would recall 323,700 cars across Europe due to a faulty component that could cause engines to catch fire. Just under a third — 96,300 — of the affected vehicles are in Germany, while 75,000 are in Britain, a BMW spokesman told AFP. Some 23,500 cars in France and 24,700 in Italy are also hit. The Europe-wide recall came after the […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP)–Tesla shares revved on Wednesday on news the electric car maker is on the road to being profitable this year despite losing more money than analysts expected in the recently ended quarter. Tesla shares raced up more than 9 percent to $328.01 in after-market trades that followed release of earnings figures and a call in which chief executive Elon Musk patiently fielded questions and expressed regret […]
SAN FRANCISCO, United States (AFP) — Uber on Monday said it is hitting the brakes on self-driving trucks, shifting gears to focus just on autonomous cars. Uber is among a number of technology and car companies racing toward what some contend is an inevitable future in which vehicles drive themselves. Uber’s aspirations had included self-driving trucks, with the smartphone-summoned-ride service revving that effort with the purchase of startup Otto two years ago. “We’ve decided to […]
NEW YORK, United States (AFP) — Ford reported a sharp drop in second-quarter earnings Wednesday and cut its full-year profit forecast, citing weakness in Europe and Asia Pacific. The company also signaled it expects large additional costs associated with a reorganization, a move that will likely deepen questions about the automaker’s strategy. Net income sank 47.9 percent to $1.1 billion. Revenues fell 2.3 percent to $38.9 billion. Ford said its performance remained strong in North […]
SAN FRANCISCO, United States (AFP) — An ex-Apple engineer on Monday was charged with stealing secrets from a hush-hush self-driving car technology project days before he quit to go to a Chinese startup. Xiaolang Zhang was in custody for stealing trade secrets from the Apple project, according to a copy of the criminal complaint posted online. The charge is punishable by 10 years in prison and a $250,000 fine. “Apple takes confidentiality and the protection […]
