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Real-time News
Nissan Motor will cut production of its best-selling U.S. model, the Rogue SUV, between May and July, becoming the latest global automaker to change production plans in response to new U.S. import tariffs, a person familiar with the matter said on April 15. Trumps decision to impose a 25% tariff on cars made overseas has upended the global automotive supply chain. Nissan, Japans third-largest automaker, faces greater risks than some of its competitors. The United States is its largest market, accounting for more than a quarter of the cars it sold last year, many of which were made in Japan or Mexico. Nissan plans to reduce Rogue production at its plant in Kyushu, southwestern Japan, by 13,000 units during the three-month period. The planned cuts are equivalent to more than one-fifth of the 62,000 Rogues sold in the United States in the first three months of this year.Sources: Nissan Motors production cuts at its Kyushu plant will lead to reduced working hours, and it will reassess its production situation at a later time depending on the tariff outlook.Sources: Nissan will cut production of its best-selling U.S. model made in Japan due to tariffs.Brussels is exploring legal options to allow European companies to breach long-term gas contracts with Russia without paying Moscow huge fines, three officials familiar with the plan said. The European Commission has been studying these contracts and the possibility of declaring force majeure. If force majeure is declared, importers can refrain from fulfilling their obligations without paying extra costs. "If the whole idea is not to pay Russia, then paying compensation would defeat the whole purpose," said an EU official. The move highlights the EUs efforts to break away from its dependence on Russian energy and deprive the Kremlin of revenue for the Russia-Ukraine conflict. Russian gas currently accounts for only 11% of the EUs pipeline gas supply, while this proportion will be close to two-fifths in 2022, but the amount of Russian liquefied natural gas (LNG) has increased rapidly in the past three years.On April 15, Zuckerberg, CEO of Meta Platforms (META.O), testified in a trial in Washington on Monday, where the Federal Trade Commission (FTC) claimed that the company spent billions of dollars to acquire Instagram and WhatsApp to stifle potential competitors to Facebook. The FTC is seeking to force Meta to reorganize or sell Instagram and WhatsApp. This is both a test of Trumps promise to crack down on large technology companies and an existential threat to the company, which is estimated to get about half of its U.S. advertising revenue from Instagram. Zuckerberg calmly answered questions while trying to refute allegations that Meta acquired these companies a decade ago to eliminate competition. The trial may last until July. Advertising research firm Emarketer previously predicted that Instagrams revenue this year will reach $37.13 billion, slightly more than half of Metas U.S. advertising revenue.