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Nissan plans 20,000 jobs cut after $4.5bn annual net loss

The uncertain nature of US tariff measures makes it difficult for us to rationally estimate our full-year forecast for operating profit and net profit, and therefore we have left those figures unspecified,” CEO Ivan Espinosa told reporters..

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Japan’s Nissan posted a huge annual net loss of $4.5 billion on Tuesday while confirming reports that it plans to cut 15 percent of its global workforce and warning about the possible impact of US tariffs.

AFP reported that the carmaker, whose mooted merger with Honda collapsed earlier this year, is heavily indebted and engaged in an expensive business restructuring plan.

Nissan reported a net loss of 671 billion yen for 2024-25 but did not issue a net profit forecast for the financial year that began in April. It did say, however, that it expects sales of 12.5 trillion yen in 2025-26.

The uncertain nature of US tariff measures makes it difficult for us to rationally estimate our full-year forecast for operating profit and net profit, and therefore we have left those figures unspecified,” CEO Ivan Espinosa told reporters.

“Nissan must prioritise self-improvement with greater urgency and speed.”

The company’s worst ever full-year net loss was 684 billion yen in 1999-2000, during a financial crisis that birthed its rocky partnership with French automaker Renault.

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Man jailed for keeping dead mother in freezer to claim £78,000 in benefits

Passing sentence, Judge Lloyd-Clarke said Phillips repeatedly deceived medical professionals to hide the fact that his mother had died.

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•Christopher Phillips

A 60-year-old man has been sentenced to two years and four months in prison after keeping his late mother’s body in a chest freezer for nearly three years while fraudulently collecting more than £78,000 in her pension and benefits.

Christopher Phillips was jailed by Merthyr Tydfil Crown Court after admitting to preventing the lawful and decent burial of his 89-year-old mother, Silvia Phillips, and pleading guilty to two counts of fraud.

The court heard that Phillips concealed his mother’s death after she died on March 8, 2023, by storing her body in a chest freezer in the living room of their home in Porthcawl, Wales.

Prosecutors said he failed to notify the Department for Work and Pensions and Bridgend County Borough Council of her death, allowing her pension and benefits to continue being paid into bank accounts he could access.

Passing sentence, Judge Lloyd-Clarke said Phillips repeatedly deceived medical professionals to hide the fact that his mother had died.

“You continued to collect her prescriptions and misled medical professionals about her whereabouts, lying when enquiries were made about your mother, repeatedly telling medical staff that she did not wish to attend appointments or undergo tests,” the judge said.

(Source: Tribune)

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International

Russia Issues International Wanted on Telegram Founder Durov

Russian-born Durov — a serial tech founder who has lived outside Russia for years and holds French and United Arab Emirates passports — has frequently clashed with the Russian authorities as Moscow has tightened its grip on the internet.

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•Telegram founder Pavel Durov

Russia announced on Wednesday that it was seeking the arrest of Telegram founder Pavel Durov over accusations of “complicity in terrorism”, alleging he had let the platform be used for recruitment by Ukraine’s security services.

Russian-born Durov — a serial tech founder who has lived outside Russia for years and holds French and United Arab Emirates passports — has frequently clashed with the Russian authorities as Moscow has tightened its grip on the internet.

His Telegram messenger is one of the country’s main communications platforms and officials have repeatedly tried to block access or thwart its success in a bid to pressure Durov to hand over user data or push Russians to use an unencrypted state-backed alternative.

The FSB security service said it had launched international search proceedings for Durov, who is also Telegram’s CEO.

“An international wanted notice has been issued… for the head of the Telegram administration, P. Durov,” it said in a statement.

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International

Just In: People trapped in Japanese mall hit by earthquake, with others missing after factory chimney collapse

Reports in Japan say 20 to 30 shopping centre staff may be missing – but the figure has not been confirmed.

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Image credit : BBC

Many people are trapped inside a Japanese shopping centre after an earthquake, the fire service says.

One witness reported the second floor of the mall in Kumamoto collapsing – BBC Verify has looked at some of the images from the site.

Reports in Japan say 20 to 30 shopping centre staff may be missing – but the figure has not been confirmed

Elsewhere in the Kumamoto prefecture, people are reported missing at a paper factory after a chimney collapsed

A magnitude 7.1 earthquake hit inland on Kyushu island at 16:27 local time (07:27 GMT), causing power cuts, damaged roads, a collapsed castle wall, and a destroyed footbridge.

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