Tokyo / AFP Scandal-stricken Takata said on Wednesday it logged an annual net loss of $120 million, as the company struggles with a massive recall crisis over exploding air bags tied to 13 deaths in the United States and Malaysia. US auto safety regulators last week ordered Takata to recall between 35 million and 40 million airbags installed in ...

  TOKYO / AP Mitsubishi Motors cheated on fuel-efficiency testing for almost every model it sold in Japan in the last 25 years, a report said on Wednesday, fuelling questions about the size of a scandal that has plunged the automaker into crisis. Citing unnamed company sources, Japan’s Asahi newspaper said dozens of models sold in Japan have been affected ...

  Mumbai / Bloomberg Investors who anticipated that India central bank Governor Raghuram Rajan would bring order to a bad debt-plagued banking system by now are being forced to ratchet back those expectations. Results from ICICI Bank Ltd. and Axis Bank Ltd. two weeks ago and comments from their top managers fuelled concerns that dud loans will continue to pile ...