Don't miss

Replay


LATEST SHOWS

FOCUS

Video: 'Buy Black' movement gains momentum in US

Read more

ENCORE!

Reality Hunger: David Shields does away with novelistic convention

Read more

THE INTERVIEW

Women terrorists are 'probably the wave of the future', says ex-CIA agent

Read more

ACCESS ASIA

India: The dangers of working in leather factories

Read more

IN THE PAPERS

'The first debate featured an unprepared man repeatedly shouting over a highly prepared woman'

Read more

IN THE PAPERS

'Who won the debate?'

Read more

BUSINESS DAILY

Markets hand debate victory to Clinton

Read more

MEDIAWATCH

Anticipating the debate

Read more

EYE ON AFRICA

Abubakar Shekau says he is still leading Boko Haram

Read more

Business

Nissan registers first loss under Ghosn's presidency

Video by Catherine VIETTE

Latest update : 2009-05-12

Nissan has registered its first loss since Renault put chief executive Carlos Ghosn in command of the carmaker in 1999. However, Ghosn, while remaining cautious, said he was seeing signs of a renewed consumer confidence.

AFP - Nissan Motor Co., Japan's number three automaker, announced Tuesday an annual net loss of 233.7 billion yen (2.4 billion dollars) and said it expected to stay in the red this year.

It is the automaker's first loss since chief executive Carlos Ghosn was parachuted in by Renault a decade ago to rescue the company from the brink of bankruptcy.

"The global economic recession and financial crisis continue, but we are beginning to see some signs of improved access to credit, the impact of government stimulus packages and a gradual return in consumer confidence," Ghosn said in a statement.

"We remain cautious about the economic environment and fully focused on our company's recovery efforts," he said.

 

Date created : 2009-05-12

COMMENT(S)