02062016Sat
Last update: Sat, 06 Feb 2016 02pm

Business & Finance - Industries & Sectors

Honda adds 2.2mn vehicles to Takata air bag recall DETROIT/WASHINGTON: Honda Motor Co Ltd is expanding its recall in North America of late-model vehicles equipped with potentially defective Takata air bags, adding 2.23 million vehicles. The Japanese automaker said certain Acura and Honda vehicles from model years 2005-2016 are being recalled to replace Takata PSDI-5 driver-side inflators. It recalled another 269,000 similar models in Canada on Monday for the same issue. Takata Corp told US safety regulators two weeks ago that about 3.9 million PSDI-5 inflators sold to several different vehicle manufacturers could rupture and kill, or cause serious injury to vehicle occupants. Honda's latest recall is included in that count. The company said on Wednesday no PSDI-5 ruptures had been reported in its vehicles. The Japanese automaker also said it was recalling 341,000 Accords due to a separate issue affecting the electronic control unit used in supplemental restraint systems in 2008-2010 models, which could result in airbags failing ...


Business & Finance - Managed Funds

Norway's $810bn wealth fund to question companies on human rights OSLO: Norway's $810-billion sovereign wealth fund, the world's largest, said on Thursday it would raise its focus on global human rights to ensure that companies it invests in follow ethical standards."We're publishing our expectations for how companies manage human rights," the fund said in a statement. "Norges Bank Investment Management, as a financial investor, expects companies to respect human rights, and address human rights issues in their business practices." The fund's ethical rules prevent it ...

Business & Finance - Industries & Sectors

UK VW brand car sales fall again in January as market grows LONDON: Sales of Volkswagen-branded cars in Britain fell for the fourth consecutive month in a row in January, industry data showed on Thursday, despite the overall market growing nearly 3 percent. VW sales fell 13.9 percent year-on-year in January, following on from drops in October, November and December, after the firm admitted to cheating US diesel emissions tests, prompting the biggest ever scandal for the German carmaker. Sales of Volkswagen Group's Seat models fell 24.6 ...

Business & Finance - Banking & Finance

Turkey's central bank injects 4 billion lira in repo, bids 7.97bn ISTANBUL: Turkey's central bank injected 4 billion lira ($1.37 billion) into the market in a one-week repo auction, the bank said on Thursday. Bids totalled 7.97 billion lira. Copyright Reuters, 2016

Business & Finance - Industries & Sectors

Swisscom 2015 net income drops by a fifth ZURICH: Telecommunications group Swisscom said its full-year net income fell by more than a fifth after price cuts for roaming fees, fallout from the strong Swiss franc and tougher competition hurt its business. The company said it would reduce costs over the coming years through job cuts, efficiency measures and migration of its network to All-IP technology."As a result of strong competition and price pressure, we set ourselves the goal of reducing our costs by ...

Business & Finance - Industries & Sectors

Daimler sees slower growth in 2016 as China cools STUTTGART: Daimler AG expects slower sales growth for its Mercedes-Benz cars in China this year after a surge in demand in 2015 that helped the automaker post record sales and earnings. The German company proposed its highest ever dividend of 3.25 euros per share for 2015, but said on Thursday it expected revenue and earnings before interest and tax (EBIT) from its ongoing business to increase only slightly in 2016. That compared with its 2015 ...

Business & Finance - Industries & Sectors

Sharp chooses Foxconn as preferred bidder over Japan fund TOKYO: Sharp Corp has chosen Taiwan's Foxconn as its preferred bidder in takeover talks, sources with knowledge of the decision said - paving the way for the biggest acquisition by a foreign company in Japan's insulated tech sector. Foxconn, known formally as Hon Hai Precision Industry Co, offered to invest around 700 billion yen ($5.9 billion) in the struggling electronics maker, one of the sources said. That was more than double the amount proposed by ...