TOKYO — Nissan Motor intends to lay off about 10,000 workers at its idle American plants while Honda Motor places more than half its U.S. staff on temporary leave, as Japan’s automakers step up their response to the coronavirus pandemic. Almost all of Nissan’s U.S. factory workers will be affected […]
Linda J. Dodson
WeWork sues SoftBank for reneging on $3bn tender offer
NEW YORK — WeWork filed a lawsuit Tuesday against SoftBank Group that accuses the Japanese investment powerhouse of breach of contract after it walked away from its promised $3 billion tender offer. The legal complaint, filed in Delaware by WeWork parent The We Company, is also alleging SoftBank breached its fiduciary duty to WeWork’s minority stockholders. Referring to SoftBank’s backtracking […]
Coronavirus latest: New York overtakes Italy in COVID-19 cases
The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan. Global cases have reached 1,279,722, according to the World Health Organization. The worldwide death toll has hit 72,616. To see how the disease has spread, click this interactive virus […]
Coronavirus drives Indonesia’s Traveloka to lay off staff
JAKARTA — Travel booking service Traveloka, one of Indonesia’s most valuable startups, has been forced to lay off a significant portion of its staff, as the coronavirus outbreak saps demand for travel, two sources familiar with the matter told the Nikkei Asian Review. The cuts, which affected around 100 people […]
China fully reopens Wuhan from coronavirus lockdown
BEIJING — Chinese authorities on Wednesday ended the monthslong lockdown of Wuhan, the first city ravaged by the novel coronavirus pandemic, allowing all citizens to freely move in and out of the isolated metropolis. China cut off all access to Wuhan on Jan. 23, shutting down connections to other cities […]
Abe says hospitals near ‘limit’ as Japan enters state of emergency
TOKYO — Japanese Prime Minister Shinzo Abe on Tuesday declared a monthlong state of emergency, warning of the strain on hospitals and saying the coronavirus crisis poses the biggest threat to the economy since World War II. The emergency declaration gives the governors of Tokyo and six other selected prefectures […]
Takeaway business booms as restaurants fight to stay open
As warnings over the spread of coronavirus increase both in number and magnitude, major restaurant chains across the UK have been pulling back from delivery services and halting trade indefinitely. Businesses such as McDonalds, Greggs, KFC and Nando’s have all closed their doors indefinitely over fears for the safety of […]
Underwriters unable to meet pandemic insurance demands
Insurance bosses have called for the state to step in to meet the cost of future pandemics because the industry will never be able to cover the losses inflicted by viruses like Covid-19. The market for pandemic insurance is failing as insurers are unwilling and unable to meet the surge in […]
New Shadow Chancellor Anneliese Dodds tasked with taking on Rishi Sunak
Judging from current Government policy, Labour’s first female shadow chancellor might be forgiven for thinking her party won last December’s election. Anneliese Dodds takes on the brief of scrutinising an economy not far removed from a John McDonnell dreamland. She finds herself opposing a Conservative administration paying 80pc of the wages of […]
A billion workers to lose out as coronavirus ravages jobs market
More than a billion workers around the world are set to suffer financially as the coronavirus destroys jobs, cuts working hours and slashes pay. One-third of the global workforce is expected to feel the effects directly, according to the International Labour Organisation, with those in the retail, manufacturing, accommodation and […]