02092016Tue
Last update: Tue, 09 Feb 2016 06am

Industries & Sectors

Business & Finance - Industries & Sectors

Yahoo strategy falls flat on Wall Street SAN FRANCISCO: Yahoo shares tumbled Wednesday in a sign that investors were skeptical about the faded Internet star's latest plan to return to glory.The shares dropped as much as nine percent early in the Wall Street session but pared losses to end the official Nasdaq trading day down 4.75 percent to $27.68.Yahoo on Tuesday said it was cutting 15 percent of its workforce and narrowing its focus as it explores "strategic alternatives" for the future of the company.The announcement, coming with the release of a big quarterly loss, offered the first sign that Yahoo may be open to a sale or merger after years of struggling.Yahoo said in a statement it was launching "an aggressive strategic plan to simplify the company, narrowing its focus on areas of strength to better fuel growth."At the same time, it said it was looking at "additional strategic alternatives," suggesting it could seek a deal ...

Business & Finance - Industries & Sectors

Honda expands Takata air bag recall again in North America DETROIT/WASHINGTON: Honda Motor Co is expanding its recall in North America of late-model vehicles equipped with potentially defective Takata air bags, in a move that could affect around 2.3 million vehicles.The Japanese automaker sent dealers in the United States a letter on Jan. 30, informing them of its intent to recall about 2 million Honda and Acura vehicles over air bag problems, a Honda dealer said on Wednesday. Automotive News had reported the upcoming recall ...

Business & Finance - Industries & Sectors

Yahoo strategy fails to win over Wall Street SAN FRANCISCO: Yahoo shares tumbled Wednesday in a sign that investors were skeptical about the faded Internet star's latest plan to return to glory.The shares dropped as much as nine percent early in the Wall Street session but pared losses to trade down 4.4 percent to $27.78 about 2000 GMT.Yahoo on Tuesday said it is cutting 15 percent of its workforce and narrowing its focus as it explores "strategic alternatives" for the future of the ...

Business & Finance - Industries & Sectors

Toyota gives up on millennial/hipster brand Scion DETROIT: Toyota said Wednesday it will drop its Scion brand, the often-quirky line of cars it launched in the United States 13 years ago targeted at American millennials and hipsters.The world's largest automaker said it will stop selling cars under the Scion name by summer, and instead merge them back into its main fleet for the US market.Jim Lentz, chief executive of Toyota Motor North America, said the Japanese automaker's decision to eliminate the Scion ...

Business & Finance - Industries & Sectors

Google expands self-driving car testing to Washington State WASHINGTON: Alphabet Inc said Wednesday its self-driving car project will expand testing to Kirkland, Washington later this month, the third city where it is testing autonomous vehicles.The company's Google unit has conducted autonomous vehicle testing for six years in Mountain View, California, where it is based, and it expanded testing to Austin, Texas last summer.Google said in a statement that one reason for the new site in the northwest United States is to gain experience ...

Business & Finance - Industries & Sectors

Toyota looks to Daihatsu to crack Indian small car market NOIDA: Toyota Motor Corp will start talks this week with its affiliate Daihatsu Motor to build and sell small cars in India, where it has so far struggled to crack the cheaper end of the market.The Japanese carmaker aims to double its share of India's passenger vehicle market to 10 percent by 2025 and Daihatsu's small cars will be key to achieving this goal, a company executive said.The launch of Daihatsu cars in India could ...

Business & Finance - Industries & Sectors

GM posts record profit in 4th quarter and 2015, but shares skid DETROIT: General Motors Co reported record quarterly and annual profits on Wednesday and promised 2016 will be even better, but unimpressed investors dumped the automaker's shares.The disconnect highlights the challenges facing GM, Ford and Fiat Chrysler .U.S. sales and profits are strong, the Chinese auto market has not fallen off a cliff, and European vehicle demand is recovering. Yet shares in the Detroit automakers aren't getting any respect, increasing pressure on executives to boost dividends ...