Core consumer prices in Tokyo fell 0.1 percent in July, government data showed on Friday. Takuji Okubo, principal & chief economist at Japan Macro Advisors, says this is a shocking piece of data.» Read More
Now even Toyota's golden child is tarnished. Early this morning in Japan, Toyota announced that there was a design flaw in the anti-lock brakes of third generation Prius models made up until January of last year.
Ever since Toyota first addressed complaints about unintended acceleration last October, there have been a steady number of complaints from Prius owners. I've heard them from time to time and they basically amount to Prius owners saying their car suddenly sped up or the brakes didn't work properly.
Japan's largest investment bank, Nomura Holdings, has been one of the beneficiaries of the financial crisis. Its EMEA Chairman and CEO Sadeq Sayeed told Maria Bartiromo on the sidelines of the World Economic Forum in Davos that "the more turmoil there in the market surprisingly helps us."
Today in Washington, Secretary of Transportation Ray LaHood publicly blasted Toyota for being slow to react to concerns about its accelerators and unintended acceleration. LaHood said federal safety officials had to "wake them (Toyota) up" to the seriousness of the pedal issue.
Both Toyota and its suppliers are to blame for the massive recall that hurt the Japanese automaker's reputation, investor Wilbur Ross, WL Ross & Co. Chairman and CEO, told CNBC Tuesday.
Automakers around the world have found some stabilization after trying to stabilize in 2009 in which the industry saw big players die, merge and shrink. But Renault-Nissan CEO Carlos Ghosn is optimistic, believing the sector will see gradual growth in the new year in every market except Europe.
The statement was straightforward with an appropriate amount of contrition. When I talked with Jim Lentz, the head of Toyota USA he was direct in admitting his company is embarrassed by the on-going controversy over sticking gas pedals.
Asia's banking sector will return to stability this year driven by better economic conditions throughout the region, said Deborah Schuler, senior vice president for financial institutions group at Moody's Investors Service.
Toyota managed to win bragging rights as the world’s biggest car company. But that focus on rapid growth appears to have come at a cost to its reputation for quality, creating an opportunity for others to potentially take back market share they lost to Toyota. The New York Times reports.
When I talked with Ford CEO Alan Mulally 10 minutes after his company filed fourth quarter earnings, there was a tone of satisfaction in his voice.
Think you may own one of the 2.3 million Toyota models being recalled because of a potentially dangerous accelerator? It's easy to find out for sure.
Toyota is suspending sales of roughly 57% of its new cars and shutting down assembly lines for eight models. That alone should spook Toyota investors. But the troubling part of Toyota halting sales of new models is the fact nobody knows how long it will last.
Meet the new boss, same as the old boss. And for the folks at GM, this is good news. Today Ed Whitacre Jr, the GM Chairman will announce he is taking the CEO job on a permanent basis. The move comes less than two months after Whitacre replaced Fritz Henderson as Chief Executive Officer. While some will dismiss this news as a natural development at GM, this is more than simply removing "interim" from Whitacre's CEO title.
On the surface, Toyota's latest recall related to unintended acceleration is the kind of scenario that could sink a company.
One day after pledging to double its hybrid sales by 2011, Toyota is putting the pieces in place to make sure it has the batteries needed to support its expanded hybrid production
Japanese stocks are the most undervalued in the world, according to fund managers surveyed by Bank of America Merrill Lynch.
It is a suggestion that continues to pop up on a regular basis: The U.S. should have another Cash for Clunkers Program. Don't laugh, it's an idea that some in the industry continue to push with regularity. While their intentions and hopes are understandable, it's an idea that won't become reality.
After the last three years and seeing scores of auto plants close down and thousands of plants shut down, it's easy to fall into the trap of thinking the auto industry is dead. Nothing could be further from the truth.
Asian stock markets made gains on Thursday, following the positive lead on Wall Street overnight.
Time for our weekly tick by tick of charts with Jordan Kotick, Global Head of Technical Analysis at Barclays.