Japanese electronics giant Panasonic, which supplies batteries to Tesla, said Friday it will target 10,000 job cuts worldwide as part of efforts to boost profitability.The cuts, which represent around four percent of the group’s workforce of nearly 230,000, will be implemented mainly in the current financial year to March, it said.Panasonic said it would “thoroughly …
Japan’s Panasonic targets 10,000 job cuts worldwide Read More »
China said Friday sales to the United States slumped last month while its total exports topped forecasts, as Beijing fought a gruelling trade war with its superpower rival.Trade between the world’s two largest economies has nearly skidded to a halt since US President Donald Trump imposed various rounds of levies on China that began as …
China sales to US slump even as exports beat forecasts Read More »
A formidable set of cards that includes granting access to its vast market and an ability to withstand economic pain will allow Beijing to play hardball in upcoming trade talks with the United States in Geneva, analysts say.Trade between the world’s two largest economies has nearly skidded to a halt since US President Donald Trump …
China can play hardball at looming trade talks with US: analysts Read More »
US and Chinese officials meet this weekend in Geneva for their first formal talks aimed at resolving a gruelling tit-for-tat tariff war that threatens hundreds of billions in trade and roiled global markets and supply chains.AFP looks at how the trade row between the world’s two economic superpowers is playing out:- What steps have the …
Surrounded by samples of silk and glittering tweed in one of China’s largest fabric markets, textiles exporter Cherry said she was anxiously awaiting the result of trade talks with the United States this weekend.Her company, which relies on US customers for around half its client base, is one of many caught in the crosshairs as …
Chinese fabric exporters anxious for US trade patch-up Read More »
Most Asian equities rose Friday on growing optimism that the worst of Donald Trump’s trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend.The mood among investors has improved substantially since the US president unveiled his “Liberation Day” …
Asian stocks lifted by hopes for US-China talks after UK deal Read More »
Japanese gaming giant Nintendo forecast Thursday that it would sell 15 million units of its hotly awaited Switch 2 console in the current financial year but warned US tariffs could hit its bottom line.The successor to the Switch — the third best-selling console ever behind Sony’s PlayStation 2 and the Nintendo DS — is set …
Nintendo forecasts 15 million Switch 2 sales in 2025-26 Read More »
Japanese auto giant Toyota forecast on Thursday a 35 percent year-on-year drop in net profit for the current financial year, citing Donald Trump’s vehicle tariffs among other factors.Carmakers have been among the hardest hit by the US president’s multi-pronged assault on free trade.On top of a 25 percent tariff already placed on finished imported cars, …
Toyota cites tariffs as it forecasts 35% net profit drop Read More »
The European Union is accelerating free trade talks with Asia following hefty tariffs by US President Donald Trump, the bloc’s trade chief said Wednesday.Trump has slapped a series of higher tariffs on Europe since March and in his biggest move, he imposed a 20-percent tariff on a majority of EU goods last month — before …
EU trade chief says accelerating free trade talks with Asia Read More »
China vowed Wednesday to defend “justice” in upcoming trade talks with the United States — their first since Donald Trump unveiled sweeping tariffs that shook global markets.Since the US president returned to the White House in January, his administration has imposed tariffs totalling 145 percent on goods from China, with some sector-specific measures stacked on …
China vows to defend ‘justice’ in looming trade talks with US Read More »
