Nissan’s awful earnings deliver a gift to Renault. Boss Hiroto Saikawa has previously underestimated how bad things are: that weakens his hand in resisting closer ties with the Japanese carmaker's French partner.
Nissan reported on July 25 that earnings fell to 6.4 billion yen in the three months ending June 30, down around 95% from the same period the previous year. The Japanese carmaker’s operating margin fell from 4% to 0.1%.
The company said it would expand job cuts to over 12,500 people to help turn around the business, mostly at overseas factories with low utilisation rates. Renault owns 43% of the Japanese automaker, which in turn holds a 15%, non-voting stake in its partner. Chief Executive Hiroto Saikawa, who has sought more equal footing with Renault, last month said Nissan would postpone discussions on the alliance's future to prioritise performance.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Nissan to cut over 10,000 jobs worldwide - reportNissan's net profit fell to a near-decade low in the last business year and it has already warned of 'a difficult business environment' for the next 12 months.
Leer más »
Chipotle earnings delivered, but its stock is starting to look like a high-priced menu itemDigital sales growth led Chipotle Mexican Grill to beat on earnings, revenue and same-store sales, but with shares of the fast-casual restaurant chain back at a market valuation it last saw in its 2013-2015 pre-foodborne illness heyday, investors may focus on the risks.
Leer más »
Trump's Response To Nobel Prize Winner Who Escaped ISIS Is Absolutely AwfulThis video is beyond cringe-worthy.
Leer más »
The Hills' Stephanie Pratt brands Heidi Montag 'an awful human being' in rantTheHillsNewBeginnings star Stephanie Pratt has called out her brother Spencer and branded Heidi Montag 'an awful human being'
Leer más »
Snap earnings send stock higher than IPO price for first time in more than a yearSnap went for $17 in its IPO but hasn't consistently traded higher than that. Today it gained 18.5% to close at $17.58 -- giving the company a market cap of more than $23.8 billion.
Leer más »
Facebook Posts Strong Earnings, Revenue GrowthFacebook pushed past a record-setting privacy fine in the second quarter to post strong earnings and revenue of $16.9 billion, up 28% from a year ago.
Leer más »