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Bloomberg Nissan Motor Co Chief Executive Officer Hiroto Saikawa said he won’t resign for being at the centre of turmoil over excess compensation, but is ready to take responsibility for scandals involving former chairman Carlos Ghosn and will exit as soon as a successor is found. Following reports that he and other Nissan executives were paid more than they were ...

Bloomberg Chinese auto sales fell for the 14th time in 15 months, extending what’s already been a historically prolonged slump in the world’s largest car market. Sales of sedans, sport utility vehicles, minivans and multipurpose vehicles in August fell 9.9 percent from a year earlier to 1.59 million units, the China Passenger Car Association said. Automakers reeling from the industry’s ...

Bloomberg India’s company court approved a bid by a group of firms controlled by yoga guru Baba Ramdev to take over cooking oil and soya-products maker Ruchi Soya Industries Ltd for 43.5 billion rupees ($606 million). Patanjali Consortium Adhigrahan Pvt — a venture by Patanjali Ayurved Ltd and three other companies — will merge with Ruchi Soya, according to a ...

Bloomberg The ongoing protests in Hong Kong, now in their 15th week, have delivered a blow to the city’s tourism industry not seen since the 2003 SARS epidemic. Tourist arrivals in the city declined almost 40 percent in August from a year earlier, Financial Secretary Paul Chan wrote in a blog post. That’s the biggest year-on-year decrease in visitor numbers ...

Bloomberg Gold exchange-traded funds in India saw the highest inflows in more than six years as investors poured in money seeking safe havens amid record high domestic prices and a slowdown in the economy. Net inflows in August rose to $20 million, the highest since December 2012, according to data from the Association of Mutual Funds in India. It was ...

Bloomberg Dalton Capital Japan, a subsidiary of Dalton Strategic Partnership LLP, said it will shut its Tokyo office, citing Brexit and shrinking demand from European investors. “As we expect the business environment to toughen due to Brexit and given dwindling appetite in Japanese equities from European investors, operations will be consolidated with Dalton Strategic Partnership in London,” the asset manager ...

Richard Stengel, a former Time editor who became the State Department’s undersecretary for public diplomacy, writes that he was once an information “idealist.” He believed that in the marketplace of ideas, the truth would ultimately prevail. Not anymore. “I think we all now know that this is a pipe dream,” writes Stengel in a disturbing memoir of his three years ...

If the UK parliament can’t clean up the Brexit mess, it might be time for Europe to start spending instead. The economic impact of a worst-case no-deal Brexit on the rest of the European Union is estimated to amount to $250 billion by 2030, according to the International Monetary Fund (IMF). Back in 2017, Ireland suggested that was a good ...

Days after a mass shooting at one of Walmart Inc.’s stores in El Paso last month, the nation’s largest retailer offered a cautious and decorous response. CEO Doug McMillon offered prayers for the families of those affected and pledged the company would be “thoughtful” about how it responded. Now, a month later, the CEO’s thoughts have morphed into company policy ...

As the 1970s came to a close, I sensed that double-digit rates of inflation were about to turn to disinflation, or smaller and smaller overall price increases. Given the close correlation between inflation and yields on US Treasury securities, I forecast in 1981 a dramatic decline in the 30-year yield from what was then 14.7% to 3% and stated, “We’re ...