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Nikkei Asia
11-07-2025
- Automotive
- Nikkei Asia
Honda to roll out motorized chair, aiming to avoid Segway's fate
Honda is offering test rides in its Uni-One at the World Expo 2025 in Osaka. (Photo by Shoya Okinaga) SHOYA OKINAGA TOKYO -- Honda Motor will start offering its Uni-One motorized chair to businesses from autumn, hoping that hands-free ease of use will help the wheelchair-like device succeed where the headline-grabbing Segway once failed. Honda is offering test rides at the World Expo 2025 in Osaka, with up to about 50 slots per day of 15 minutes each outdoors. Some visitors come to the expo just to take the chair for a spin.
Canada News.Net
10-07-2025
- Business
- Canada News.Net
Wall Street drops, yen weakens on Trump's new trade salvos
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round of tariffs, targeting major Asian allies and injecting new uncertainty into global trade. Major stock indexes declined while the dollar strengthened against major currencies on Monday as Trump announced 25 percent tariffs on goods from Japan and South Korea. The White House is expected to make further trade moves in the coming days. Longer-dated U.S. Treasury yields edged higher. Trump said on Monday the U.S. would impose a 25 percent tariff on imports from Japan and South Korea beginning August 1, unveiling the first two of what he described as a series of letters to trading partners detailing new levies. U.S.-listed shares of Japanese automakers dropped sharply, with Toyota Motor down 4.1 percent and Honda Motor off by 3.8 percent. Treasury Secretary Scott Bessent said earlier this week that the United States is expected to make several trade announcements within 48 hours. A self-imposed deadline to finalise deals looms on July 9. "We're down (in stocks) after the long weekend, and it's somewhat of a critical week in terms of the tariffs," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. "The prospect of what may or may not happen with the trade deals... is causing investors to be somewhat cautious." While tariffs are likely to increase prices and slow growth, market participants say uncertainty about future policies is an even greater drag, causing companies to delay key decisions. S&P 500 companies will soon begin reporting second-quarter earnings. Trump had previously announced in April a 10 percent base tariff on most countries and higher "reciprocal" rates of up to 50 percent, with a Wednesday deadline. He also warned levies could reach "maybe 60 percent or 70 percent" and threatened an additional 10 percent for countries aligning with the BRICS bloc—Brazil, Russia, India, and China. On Monday, the Dow Jones Industrial Average fell 515.77 points, or 1.15 percent, to 44,314.92. The S&P 500 dropped 56.23 points, or 0.90 percent, to 6,222.20, while the Nasdaq Composite slipped 195.58 points, or 0.97 percent, to 20,404.31. Tesla shares were down 7.4 percent after CEO Elon Musk announced the launch of his new U.S. political party, the "American Party." MSCI's global stock index dropped 0.76 percent, while the pan-European STOXX 600 rose 0.44 percent. The yield on benchmark U.S. 10-year notes rose to 4.391 percent, up 5.1 basis points from Thursday. The dollar index rose 0.58 percent to 97.53, with the euro down 0.59 percent at US$1.1709. The dollar also strengthened 1.04 percent against the Japanese yen to 146.02. Markets now await minutes from the Federal Reserve's last meeting and further clarity on interest rate cuts after stronger-than-expected June U.S. jobs data. The Reserve Bank of Australia is expected to lower rates by a quarter point to 3.60 percent at its Tuesday meeting, marking the third rate cut in the cycle.
Business Recorder
10-07-2025
- Automotive
- Business Recorder
Japan's Nikkei ends higher on weaker yen
TOKYO: Japan's Nikkei share average closed higher on Wednesday, underpinned by a weaker yen, though gains were limited as investors sold stocks to book profits. The Nikkei rose 0.33% to 39,821.28, after swinging between marginal gains and losses during the session. The broader Topix rose 0.41% to 2,828.16. 'The Nikkei opened higher, supported by the yen's weakness against the dollar. But as soon as the Nikkei rose closer to the 40,000 level, investors sold stocks to book profits,' said Shuutarou Yasuda, a market analyst at Tokai Tokyo Intelligence Laboratory. 'Overall, the market is firm, with the Topix rising. Investors are rotating their targets day to day.' Automakers rose on the back of the softer yen, with Toyota Motor and Honda Motor up 0.91% and 3.35%, respectively. The yen weakened 0.2% to 146.96 against the dollar. The greenback extended gains as US President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and steps against other trade partners.
Business Standard
09-07-2025
- Automotive
- Business Standard
Japanese benchmark ends modestly higher
Japanese markets recovered from an early slide to end modestly higher as the yen slid below 147 per dollar, logging its third straight daily loss amid rising tensions in U.S-Japan trade talks. The Nikkei average rose 0.33 percent to 39,821.28 while the broader Topix index ended up 0.41 percent at 2,828.16. The yen's weakness lifted automakers, with Honda Motor and Toyota rising 3.4 percent and 0.9 percent, respectively. Yoshinoya Holdings surged 6.5 percent after the beef bowl chain reported a 9 percent rise in quarterly net profit.
Fashion Network
09-07-2025
- Business
- Fashion Network
Trump unveils 25% tariffs on goods from Japan, South Korea in letters to leaders
U.S. stocks fell in response, the latest market ruction since Trump unleashed a global trade war on his return to office in January. His moves have repeatedly roiled financial markets and sent policymakers scrambling to protect their economies. U.S.-listed shares of Japanese automotive companies fell, with Toyota Motor down 4.1% in early afternoon trading and Honda Motor off by 3.8%. U.S. Treasury Secretary Scott Bessent said earlier on Monday he expected to make several trade announcements in the next 48 hours, adding that his inbox was full of last-ditch offers from countries to clinch a tariff deal before a July 9 deadline. It was not immediately clear if other letters to leaders would be made public ahead of Wednesday's deadline. Bessent did not say which countries could get deals and what they might contain. Trump has kept much of the world guessing on the outcome of months of talks with countries hoping to avoid the hefty tariff hikes he has threatened. "We've had a lot of people change their tune in terms of negotiations. So my mailbox was full last night with a lot of new offers, a lot of new proposals," Bessent said in an interview with CNBC. "So it's going to be a busy couple of days." For its part, the European Union still aims to reach a trade deal by July 9 after European Commission President Ursula von der Leyen and Trump had a "good exchange," a Commission spokesperson said. It was not immediately clear, however, whether there had been a meaningful breakthrough in talks to stave off tariff hikes on the United States' largest trading partner. Adding to the pressure, Trump threatened to impose a 17% tariff on EU food and agriculture exports, it emerged last week. Trump had said on Sunday the U.S. was close to finalizing several trade pacts and would notify other countries by July 9 of higher tariff rates. He said they would not take effect until August 1, a three-week reprieve. He also put members of the developing nations' BRICS group in his sights as its leaders met in Brazil, threatening an additional 10% tariff on any BRICS countries aligning themselves with "anti-American" policies. The BRICS group comprises Brazil, Russia, India and China and South Africa along with recent joiners Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates. Trump's comments hit the South African rand. The EU has been torn over whether to push for a quick and light trade deal or back its own economic clout in trying to negotiate a better outcome. It had already dropped hopes for a comprehensive trade agreement before the July deadline. "We want to reach a deal with the U.S. We want to avoid tariffs," the spokesperson told reporters at a daily briefing. "We want to achieve win-win outcomes, not lose-lose outcomes." Without a preliminary agreement, broad U.S. tariffs on most imports would rise from their current 10% to the rates set out by Trump on April 2. In the EU's case, that would be 20%. Von der Leyen also held talks with the leaders of Germany, France and Italy at the weekend, Germany said. Chancellor Friedrich Merz has repeatedly stressed the need for a quick deal to protect industries vulnerable to tariffs ranging from cars to pharmaceuticals. The German spokesperson said the parties should allow themselves "another 24 or 48 hours to come to a decision." Germany's Mercedes-Benz said on Monday its second-quarter unit sales of cars and vans had fallen 9%, blaming tariffs. Russia said BRICS was "a group of countries that share common approaches and a common world view on how to cooperate, based on their own interests." "And this cooperation within BRICS has never been and will never be directed against any third countries," said Kremlin spokesman Dmitry Peskov.
