The “Made in Japan” label used to be a mark of progress, but Japanese manufacturing has declined rapidly. Now, the automobile industry, the last bastion of the country’s technology, has fallen behind in the transition to electric vehicles.
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The growing alarm after UK Prime Minister Theresa May’s Brexit deal suffered a defeat in Parliament isn’t just unsettling for British politics. Global businesses are on edge as well. Asian companies, whose operations and investments stretch far into Britain and the European continent, have a lot at stake as they face higher tariffs and costs. Tuesday’s setback will do little to cure the anxiety. Chancellor of the Exchequer Philip Hammond has sought to assure business leaders that their no-deal nightmare scenario could still be avoided, but with only 10 weeks left before the UK is due to leave the European […]
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On This Day – September 24
BLOOMBERG, AP Worldcrunch TOKYO – The global auto industry faces another major recall crisis after defective airbags have forced Japanese carmakers Toyota, Honda, Mazda and Nissan Motor to call back more than 3 million vehicles. A spokesman for Japanese auto parts maker Takata Corp revealed the airbag malfunction on Thursday, blaming it on “human errors.” […]
The dispute over the Diaoyu islands, which Japan calls the Senkaku islands, is prompting some Japanese firms to consider closing Chinese operations. They quickly run into roadblocks.