Automotive

Nissan upgrades annual forecast despite Q3 net loss

Crisis-hit Japanese carmaker Nissan on Tuesday upgraded its full-year forecast for the second straight quarter, as the global auto industry shows signs of recovery from the coronavirus pandemic.

Business

British Airways parent IAG logs vast loss on virus

IAG, the owner of British Airways and Spanish carrier Iberia, dived into a net loss of 1.76 billion euros ($2.1 billion) in the third quarter on coronavirus fallout, it said Friday.

Business

BMW swings to first loss in a decade as virus hits sales

German luxury carmaker BMW said Wednesday that it swung into its first loss since 2009 as the coronavirus pandemic ravaged car sales but said it still hopes turn an operating profit for the year.

Automotive

BMW cuts jobs, ends self-driving project with Mercedes

BMW will slash 6,000 jobs this year and freeze a major self-driving technology collaboration with rival Mercedes-Benz as the German luxury carmaker sees demand plunging because of the coronavirus pandemic.

Business

SoftBank Group reports record losses as Ma quits board

Struggling Japanese conglomerate SoftBank Group on Monday reported record losses, as the coronavirus pandemic compounded woes caused by its investment in troubled office-sharing start-up WeWork.

Business

Coronavirus dims Twitter earnings expectations

Twitter on Monday dialed back its earnings expectations for the current quarter amid a massive disruption in online advertising stemming from the coronavirus pandemic, even though the service has become a hub of conversation ...

Business

SoftBank Group nine-month net profit down nearly 70%

Major Japanese technology investor SoftBank Group said Wednesday its net profit plunged nearly 70 percent for the nine months to December as investments in sharing economy companies including WeWork and Uber took a hit.

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