Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
* Nissan flags 28 pct drop in profit this year
* That comes after sharp fall in earnings in year just ended
* Ghosn scandal continues to weigh
* Automaker also cut mid-term revenue target (Adds mid-tern revenue target, other details)
YOKOHAMA, May 14 (Reuters) - Nissan Motor Co forecast a 28% drop in its annual operating profit, setting it up for the weakest earnings in 11 years and underscoring its struggle to turn the page after the ouster of former Chairman Carlos Ghosn.
The lackluster performance at Japan's No.2 automaker, which has been hit hard by Ghosn's arrest last year, adds to pressure on CEO Hiroto Saikawa as he tries to put aside the scandal and focus on overhauling corporate governance and giving Nissan a more equal footing with alliance partner Renault.
Nissan forecast operating profit of 230 billion yen ($2.10 billion) for the year to March 2020, versus 318 billion yen in the year just ended. The forecast compared to a 457.7 billion yen average of 23 analyst estimates compiled by Refinitiv.
Earlier in the day, Kyodo news reported that Tokyo prosecutors had filed a request to revise their indictment against Ghosn, providing more details on alleged cash transfers involving the former executive and a Saudi friend.
Ghosn, currently out on bail and awaiting trial in Japan, has been charged on several counts of financial misconduct and of allegedly enriching himself at Nissan's expense.
He has denied all the charges against him and said he is the victim of a boardroom coup.
The scandal rocked the global auto industry and has raised concerns about Nissan's ability to regain its footing following the departure of the charismatic leader and architect of its alliance with Renault.
The automaker also cut its mid-term revenue target to 14.5 trillion yen by 2022, from 16.5 trillion yen. It sees its annual operating margin at 6% by then, versus an earlier target for 8%.
Shares of Nissan are down around 2% this year, after losing a fifth of their value last year. ($1 = 109.6200 yen) (Reporting by Naomi Tajitsu; Editing by David Dolan)