World Bulletin / News Desk
Japan's Toyota Motor Corp. on Tuesday suspended some of its car production operations in China after anti-Japan protests flared across China in response to a territorial row between Tokyo and Beijing.
Beijing-based spokesman Hitoshi Yokoyama said in a text message sent to Reuters that the Japanese auto maker has decided to halt manufacturing and other operations, jointly run with its two Chinese partners, to "ensure employee safety."
He declined to elaborate and provide information on which plants are being affected by the move Tuesday. He did not say how long the suspension would last.
Toyota and its partners manufacture automobiles in the southern China city of Guangzhou, the eastern city of Tianjin, as well as the northeastern city of Changchun.
AIM TO SELL 1 MILLION CARS
The company aims to sell 1 million cars in China this year, up from the nearly 900,000 cars it sold last year.
The Toyota move follows a string of anti-Japan protests that have erupted in China over the last several days. Over the weekend, Toyota and other Japanese-brand outlets in Qingdao were torched by angry demonstrators.
Hundreds of Japanese businesses and the country's embassy suspended services in China on Tuesday, as anti-Japan protests threatened to reignite and drag a territorial dispute between Asia's two biggest economies deeper into crisis.
Analysts said that while the downturn in the headline readings was disappointing, the economy continued to put in a strong performance.
Crude prices stabilised after diving more than two percent on Tuesday on increasing fears of a global supply glut, as continued production in the US and elsewhere offsets an OPEC output cut deal.
Move estimated to save company $1B in investment costs
However, most other regional markets struggled after Monday's healthy gains, despite being given a positive lead from Wall Street where the Dow and S&P 500 closed at fresh record highs.
The purchase in one fell swoop gives Amazon, which until now has operated almost entirely on the internet, a big presence in the brick-and-mortar world on Main Street, with more than 450 stores in the US, Canada and Britain.
"The Bank of Russia Board of Directors decided to cut the key rate to 9.00 percent per annum," the bank said in a statement. The cut follows a half-point decrease in late April.
Equity traders have suffered a fraught week as the crisis engulfing Donald Trump picks up pace, technology firms tumbled from recent highs and energy plays were hammered by plunging oil prices.
"In May 2017, passenger car registrations across the EU increased by 7.6 percent to 1.387 million units," ACEA said in a statement.
In the eurozone, Frankfurt's DAX 30 index climbed 0.4 percent to 12,746.05 points, and the Paris CAC 40 gained 0.5 percent to 5,243.53 compared with the close on Thursday.
Eastern Mediterranean gas deposits discussed at high-level meeting in Thessaloniki
While a "rebalancing of the market" was "underway," it was "at a slower pace than originally anticipated," the Organization of Petroleum Exporting Countries wrote in its latest monthly oil market report.