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Last update: Sat, 23 Jul 2016 06pm

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Daihatsu recalls 800,000 of its mini cars in Japan over faulty rear doors TOKYO: Daihatsu Motor Co on Wednesday said it had filed a notice with Japan's transport ministry to recall around 800,000 of its mini vehicles over a problem with a rear door part.The company said that the rear door stay on its Tanto compact MPV model produced in 2007-2013 for the Japanese market was vulnerable to rust, which could cause the outer tube of the gas stay to corrode and crack.This could result in the door detaching from the vehicle, the automaker said, adding that one user had sustained a light hand injury as a result of the defect.The Transport Ministry is due to announce the recall on Thursday. It will follow a recall by Nissan Motor Co in April of a total of roughly 800,000 vehicles in Japan and the United States, including the X-Trail and Rogue SUV crossover and Serena minivan models, over a similar issue.The U.S. recall notification ...

Business & Finance - Industries & Sectors

VW hit with more charges in 'Dieselgate' scandal FRANKFURT: Embattled German auto giant Volkswagen said Wednesday it booked another huge charge related to the engine-rigging scandal on its first-half accounts, but insisted that profits came in better than expected overall and it would stick to its full-year targets."The operating result for the Volkswagen group before special items is significantly higher than market expectations for the first half of 2016," VW said in a statement, sending its shares zooming ahead by more than seven ...

Business & Finance - Industries & Sectors

VW takes 2.2bn-euro charge in first half due to 'Dieselgate' scandal FRANKFURT: Embattled German auto giant Volkswagen said Wednesday it booked a charge of 2.2 billion euros ($2.4 billion) in the first six months in relation to engine-rigging scandal, but its operating performance before that charge was better than expected. "The operating result for the Volkswagen group before special items is significantly higher than market expectations for the first half of 2016," VW said in a statement. "Group operating result before special items for the first ...

Business & Finance - Industries & Sectors

VW takes 2.2 bn-euro charge in first half due to 'Dieselgate' scandal FRANKFURT: Embattled German auto giant Volkswagen said Wednesday it booked a charge of 2.2 billion euros ($2.4 billion) in the first six months in relation to engine-rigging scandal, but its operating performance before that charge was better than expected. "Group operating result before special items for the first six months stood at 7.5 billion euros, despite the ongoing economic impact from the diesel issue," VW said in a statement. "In addition, special items totalling 2.2 ...

Business & Finance - Industries & Sectors

China Hyundai dealers seek up to $135mn in compensation, claim automaker reduced supply BEIJING: A group of 30 Hyundai Motor Co dealers in China plans to seek 800 million-900 million yuan ($120 million-135 million) in compensation from the South Korean automaker, the group's leader said, claiming Hyundai cut the flow of models exported to China, resulting in dealership losses and closures. Hyundai has been steadily increasing manufacturing of cars in China, Wang Rongzhen told Reuters on Wednesday, veering away from selling imported models to avoid hefty taxes. In ...

Business & Finance - Industries & Sectors

SAP confirms outlook after strong Q2 FRANKFURT: German software giant SAP on Wednesday confirmed its full-year targets after strong growth in its cloud business propelled earnings and sales in the second quarter. SAP said in a statement that net profit soared by 73 percent to 813 million euros ($896 million) in the period from April to June. The increase was partly attributable to the fact that the year-earlier figure had included restructuring costs. But the increase also reflected a strong operating ...

Business & Finance - Industries & Sectors

BHP misses full-yr iron ore guidance by 3mn/t SYDNEY: BHP Billiton said on Wednesday it fell three million tonnes short of its iron ore production guidance for fiscal 2016 due to its Samarco disaster in Brazil. The world No. 3 miner of the steelmaking ingredient said fourth-quarter output reached 55.6 million tonnes, pushing the annual total to 257 million tonnes against guidance of 260 million. Production for the current financial year is forecast to increase to between 265 million tonnes and 275 million ...