Japan’s companies stockpile of cash reached a record in the first quarter as they poured investment abroad, underscoring Prime Minister Shinzo Abe’s challenge to boost the nation’s investment and wages.
General Motors Co. led one of the auto industry’s most closely watched quality measures for the first time since the survey began almost three decades ago, pacing U.S. carmakers producing their best cars in a generation.
Renault SA, France’s second-biggest carmaker, is introducing a modular-production strategy with Japanese partner Nissan Motor Co. as the manufacturers work to reduce spending by building more vehicles in common.
Stock futures in Hong Kong and Australia rose as the Federal Reserve begins a two-day policy meeting and a report showed U.S. homebuilder confidence soared to a seven-year high. Japanese equity futures declined.
Automakers are coming under increasing pressure to sell zero-emission vehicles to U.S. consumers who haven’t shown much interest in them, with more states following California’s lead in setting sales targets.
Nissan Motor Co.’s take-no-prisoners approach to gaining U.S. market share has the auto industry worried that a price war is brewing that will erode the profit progress made since the recession ravaged auto sales.
Japanese stocks rebounded from yesterday’s plunge as U.S. data beat estimates and concerns eased the Federal Reserve will soon reduce stimulus. Shares also gained after Nomura Holdings Inc. and Fidelity Worldwide said the country’s market would climb to new highs.