Sectors
Profit target for Kobelco down 58% as China's economy slows down
Feeling the heat over the China's economy slowing down, Kobe Steel Ltd has reduced its profit target by 58 percent for its construction machinery unit Kobelco Construction Machinery.
Caterpillar's part suppliers are feeling the economic slowdown too
The slump business in the mining industry had led Caterpillar to reduce its revenue expectation for this year. The latest revenue projection is $48 billion which is 25 percent lower compared to the last 4 years. The reduction means not only the company will suffer, but its heavy machinery parts supplier is feeling the effects too.
VW scandal exposes cozy ties with Berlin
The recent scandal that Germany faces has revealed the loose sanctions that its government has for the German automobile industry, what with the latter being the nation's poster child with its combined contribution of 413 billion euros revenue from the three biggest carmakers: Volkswagen, BMW, and Daimler in 2014 alone. Whether it is justifiable or not has raised a moral issue argued upon these days with "just how many lives have perished because of this?" as the primary argument.
Volkswagen new CEO to steer German auto maker on the right track
The new Chief Executive Officer of Volkswagen Matthias Müller, former head of Porsche, has assured investors and customers of thorough probe into the emission cheating scandal, which is creating tremors for the German's leading automaker.