Nissan to announce large-scale cut to earnings outlook: report

TOKYO (Reuters) - Nissan Motor Co will announce on Wednesday a large-scale cut to its earnings outlook for the fiscal year that ended in March, TV Tokyo reported, adding to the company's woes as it grapples with the arrest of former Chairman Carlos Ghosn. The Japanese automaker will slash its estimates because of weak sales in North America and China, TV Tokyo's flagship programme World Business Satellite (WBS) reported late Tuesday.

Reuters April 24, 2019 06:05:43 IST
Nissan to announce large-scale cut to earnings outlook: report

Nissan to announce largescale cut to earnings outlook report

TOKYO (Reuters) - Nissan Motor Co will announce on Wednesday a large-scale cut to its earnings outlook for the fiscal year that ended in March, TV Tokyo reported, adding to the company's woes as it grapples with the arrest of former Chairman Carlos Ghosn.

The Japanese automaker will slash its estimates because of weak sales in North America and China, TV Tokyo's flagship programme World Business Satellite (WBS) reported late Tuesday. Nissan's board approved the move at a meeting on Tuesday, WBS added, citing unidentified sources.

A Nissan spokesman declined to comment.

The maker of the Rogue sport utility vehicle and Altima sedan already cut its outlook just two months ago, predicting its lowest operating profit in six years.

(Reporting by Chris Gallagher; Additional reporting by Naomi Tajitsu; editing by Richard Pullin)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Airline easyJet's first-half loss widens as COVID-19 hurts travel, seeks cash
Business

Airline easyJet's first-half loss widens as COVID-19 hurts travel, seeks cash

(Reuters) - Budget airline easyJet on Wednesday reported a bigger loss for the first half as it took a 160-million-pound hit ($199 million) from failed fuel hedging as the COVID-19 pandemic brought global air travel to a virtual standstill. The London-listed company reported a pretax loss of 353 million pounds for the six months ended March 31 from a loss of 272 million pounds last year. Revenue rose 1.6%, though easyJet took a hit from strikes in France, and storms Ciara and Dennis.

Bayer settles Roundup cancer lawsuits for up to $10.9 billion
Business

Bayer settles Roundup cancer lawsuits for up to $10.9 billion

FRANKFURT (Reuters) - Bayer AG on Wednesday said it agreed to settle U.S.

Sudan to establish trade financing fund in face of forex shortage
Business

Sudan to establish trade financing fund in face of forex shortage

KHARTOUM (Reuters) - Sudan will create a trade financing fund with a portfolio of $2 billion to aid the import and export of key commodities such as wheat, the Finance Ministry said, as the supply of foreign currency in circulation dwindles. Sudan's economy is at risk of freefall, hammered by an inflation rate of more than 100% and frequent shortages of bread, fuel and medicine. The country's currency has also fallen to a record low of 150 Sudanese pounds to the dollar on the black market compared with 55 at the official rate