(PTI): Japan’s giant carmaker Toyota plans to reduce its global output capacity by 10 percent to cope with lower demands in the market. Toyota will cut its production volume — at least 700,000 vehicles annually — by shutting down a US joint venture with General Motors and halting some production lines in Britain. Toyota’s domestic [...]
Japan’s giant carmaker Toyota plans to reduce its global output capacity by 10 percent
Published in September 22nd, 2009
Posted by The Business Time in Business
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Qantas Airways’ profit drop by 88%
Published in September 22nd, 2009
Posted by The Business Time in Business
(PTI): Qantas Airways, Australia’s largest carrier, has reported a large drop in its annual profits, as demand for air travel has fallen due to the global economic downturn. The Australian airline said net income for the year to June 30dropped 88% to 117m Australian dollars ($96.5m). “There has never been a more volatile and challenging
The British economy would expect one billion pounds from World Cup: UK Economists
Published in September 22nd, 2009
Posted by The Business Time in Business
(PTI): The British economy would expect better days after England secured its presence in the 2010 World Cup in South Africa, analysts say. Economists predict that the qualification could bring one billion pounds to the country when fans buy more during this time. The previous tournament in Germany was worth 1.25 billion pounds (2.1 billion [...]
British banks expecting more losses of £130bn
Published in September 21st, 2009
Posted by The Business Time in Business
(PTI): British banks are still far from seeing an end to the losses they have suffered from the global financial crisis and recession, says Moody’s ratings agency. The agency expects losses at British lenders and building societies to reach £240bn, while a further decline in the economy
Direct foreign investment increases in China
Published in September 20th, 2009
Posted by The Business Time in Business
(PTI): Direct foreign investment in China increased in August for the first time in 11 months, the Chinese Commerce Ministry has reported. Investment in manufacturing and other nonfinancial assets totaled $7.5 billion in August while it registered declines of 35.7 percent in July and 6.8 percent in June, Ministry of Commerce
Japan Airlines (JAL) announces to cut 6,800 jobs
Published in September 20th, 2009
Posted by The Business Time in Business
(PTI): Japan Airlines (JAL) has announced plans to cut 6,800 jobs and sign a tie-up deal with an airline partner as part of its restructuring plans. JAL President Haruka Nishimatsu said on Tuesday that Japan’s largest carrier would conclude the tie-up talks with a single international carrier by mid-October. He added that the company would [...]
