Nissan results reflect falling sales, organizational turmoil

Nissan Motor Co reported a 70 per cent drop in quarterly profit on Tuesday and cut its full-year forecast to an 11-year low, hit by a strong yen and falling sales, and highlighting the turmoil at the Japanese automaker after the ouster of Carlos Ghosn.

See Full Article


Latest Economic News

  • Making masks mandatory may save the economy too, Goldman Sachs economist says

    Economic CTV News
    TORONTO -- As more and more jurisdictions order face masks to be mandatory in public places, protests are springing up against the temporary restriction these orders place on individual freedom. Although generally small and ineffective in changing public policy, the protests have attracted attention for their opposition to what are widely seen as useful measures designed to save lives. Source
  • U.K. creates discount scheme for people to eat out in August

    Economic CTV News
    LONDON -- The British government unveiled a package of measures on Wednesday that it hopes will kick-start the economy and limit the anticipated spike in unemployment as a result of the coronavirus pandemic. Treasury chief Rishi Sunak outlined a series of incentives for businesses to retain and hire staff, funding for training and environmental projects, some targeted tax cuts and a new "Eat Out to Help Out" discount scheme. Source
  • Pattie Lovett-Reid: Why not all seniors are cheering government aid

    Economic CTV News
    TORONTO -- Not all seniors are cheering when it comes to government aid. On the one hand the government is helping high-risk Canadians get through a tough financial situation. Government benefits are seen by many as the financial lifeline they needed as jobs were lost, income reduced and financial futures were put on shaky ground due to the pandemic. Source
  • Asian shares mostly lower as pandemic saps buying momentum

    Economic CTV News
    TOKYO -- Shares were mostly lower in Asia on Wednesday as uncertainty over the coronavirus pandemic sapped the buying enthusiasm that has been driving prices higher. The selling followed a deeper pullback on Wall Street and in France, Germany and elsewhere after the European Union's executive arm said this year's recession caused by the pandemic will be deeper than forecast. Source
  • Levi's cutting 700 jobs amid pandemic sales slump

    Economic CBC News
    Levi's said Tuesday that it will cut 700 office jobs, or about 15 per cent of its worldwide corporate workforce, as it deals with a sharp drop in sales due to the coronavirus pandemic. The San Francisco-based jeans maker said the layoffs will save it about $100 million US a year and won't affect workers at its stores or factories. Source
  • Business owners on their own when it comes to mask bylaw enforcement

    Economic CTV News
    TORONTO -- As Ontario municipalities enact new measures regarding the use of masks in commercial locations, business owners are on their own when it comes to dealing with customers who refuse to comply. On Tuesday, Toronto and Ottawa joined Kingston in establishing rules requiring a non-medical face covering inside businesses that are open to the public. Source
  • Canada's two largest railways move record grain in June, second quarter

    Economic CTV News
    Canada's two largest railways moved record quantities of grain in the second quarter after benefiting from another strong month in June. Canadian National Railway says it is on pace for record shipments of grain this year after record movements of Canadian grain last month and the quarter as a whole contributed to its best performance in the first half-year. Source
  • When it comes to going back to work, COVID-19 is impacting Canadian mothers more than fathers: study

    Economic CTV News
    VANCOUVER -- Recent research suggests the pandemic is having a disproportionate impact on Canadian mothers when it comes to going back to work. Data analyzed by the University of British Columbia suggests the gender gap has been widening since the country saw its first few cases of COVID-19. Source
  • Cenovus CEO calls U.S. court order on Dakota pipeline 'disturbing'

    Economic CBC News
    A U.S. judge's order to shut down the Dakota Access pipeline for additional environmental review — more than three years after it began pumping oil — is a "pretty disturbing decision" that could have implications for future infrastructure development like power lines and highways, says the CEO of Cenovus Energy. Source
  • Le Chateau says there is 'significant doubt' it can stay in business

    Economic CTV News
    TORONTO -- A major Canadian clothing retailer that was struggling even before the COVID-19 pandemic says it's no longer sure if it will be able to remain in business for another year. Le Chateau, which operates 129 stores in eight provinces as well as some manufacturing operations, issued the dire warning late Monday as it reported its latest quarterly earnings report. Source