BUSINESS

NISSAN TRIMS PRODUCTION OF TOP-SELLING ROGUE SUV AMID U.S. TARIFF PRESSURES

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In a strategic response to rising trade tensions, Nissan is scaling back production of its top-selling U.S. model, the Rogue SUV, at its Kyushu plant in Japan. The decision comes as the automaker navigates the fallout from the United States' recent imposition of a 25% tariff on imported vehicles. The reduction, which will cut output by 13,000 units over the May to July period, marks a significant shift in Nissan's manufacturing approach.

STELLANTIS TO PAUSE SOME PRODUCTION IN CANADA AND MEXICO

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Stellantis is pausing production at some plants in Canada and Mexico, the auto giant announced Thursday, citing US President Donald Trump's tariffs on foreign-made vehicles. The move, which affects thousands of workers, is the first disruption to the sector since the tariffs came into effect. Stellantis owns Chrysler, Jeep and Dodge, among other major brands.

PRADA AGREES TO BUY VERSACE

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Italian fashion house Prada announced Thursday it has reached a deal with US group Capri Holdings to acquire its rival Versace for 1.25 billion euros ($1.38 billion). The acquisition is expected to create a luxury group with revenues exceeding six billion euros, positioning it to better compete with industry giants like LVMH and Kering amid a global slowdown in the sector.

HUAWEI SAYS IT HAD A DROP IN PROFIT IN 2024

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Huawei's profits fell 28 percent last year due to international economic uncertainty and weak domestic consumption, the Chinese smartphone maker said Monday. The Shenzhen-based company has faced US sanctions since 2019 over espionage concerns, forcing it to diversify its growth strategy. Huawei denies the allegations.

TRUMP TARIFFS HIT VOLKSWAGEN PROFITS

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Volkswagen, the German auto giant, attributed a decline in its first-quarter operating profit to the impact of tariffs on car imports into the United States implemented by President Donald Trump. The company reported an operating profit of 2.8 billion euros ($3.1 billion) for the first three months of 2025, a decrease from 4.6 billion euros in the same period last year.

DOLLAR TREE SELLS STRUGGLING CHAIN FOR $1 BILLION, A FRACTION OF ITS $8.5 BILLION PURCHASE PRICE

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Dollar Tree's decade-long investment in Family Dollar has come to a disappointing end. The company announced on Wednesday that it would sell the struggling discount chain to private equity firms Brigade Capital Management and Macellum Capital Management for $1 billion—a stark contrast to the $8.5 billion it paid for the acquisition in 2015.

SAMSUNG FORECAST BEATS EXPECTATIONS

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Samsung Electronics exceeded market expectations Tuesday, forecasting record first-quarter sales and predicting profits would be better than initially projected. The firm is the flagship subsidiary of South Korean giant Samsung Group, the largest of the family-controlled conglomerates that hold significant influence in South Korea's economy.

HYUNDAI PLANS $21BN INVESTMENTS IN US

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Hyundai will invest $21 billion (£16.3 billion) in the US, including a new $5.8 billion steel plant in Louisiana, the South Korean automaker announced just days before expected new US tariffs. The investment will also fund expansion of American vehicle production and new technologies like autonomous driving and AI.