Japanese carmaker Nissan announced its first annual loss in a more than a decade. It lost more than $6 billion in the fiscal year ending in March. The struggling carmaker says it had to make tough choices.
The job cuts come as part of a plan to cut costs by €2 billion. The company also plans to slash its annual production to 3.3 million vehicles, down from its current figure of 4 million.
Madrid and Barcelona, the Spanish cities with the highest COVID-19 death tolls, have partially relaxed their lockdowns. Meanwhile, Germany has seen its economy pushed into recession. Follow DW for the latest.
Former head of Renault-Nissan Carlos Ghosn in his first public appearance since skipping bail blamed a "plot" against him for his fall. Here's how he went from feted CEO to fugitive.
Daimler's new CEO has promised the luxury German carmaker "will change radically" after a 64% slump in net profit. The Mercedes-Benz owner needs to future-proof itself for the electric era as Tesla is hot on its heels.
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