Steel Shortage Stops Japanese Auto Production
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Japan&#39;s largest steel company, Nippon Steel, said it was unable to meet increased demand by Nissan Motor (NASDAQ: NASNY) because it was already operating at peak capacity.
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Jaguar is to halt production at one of its plant in Coventry, Warwickshire, with the loss of more than 1,000 jobs, because of weak demand for the luxury brand, US parent company Ford announced.
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The Japanese round of the World Rally Championship on the island of Hokkaido just missed a typhoon, and the weather has also affected the Japanese Grand Prix weekend.
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The Nissan Motor Company said Thursday that a shortage of steel would force it to temporarily halt production at three of four of its auto factories in Japan, an unusual step
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Tokyo - Japan&#39;s Nissan Motor said on Thursday that the company may have to suspend some production next March in addition to already announced suspensions, due to parts shortages, resulting in a decline of about Â¥6 billion (R339.8 million) in annual sales
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The Nikkei average fell 1 percent by  midsession on Thursday after sharp declines in metals prices  pushed down shares of steel makers and mining companies, which  had been big gainers over the past three months.
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Nissan is to stop production at some of its domestic car plants for five days due to a steel shortage. Japan&#39;s second-biggest car maker will suspend operations at three of its four domestic plants on 29 and 30 November.
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The production of cars, trucks and buses in Japan rose for the fourth straight month in September from the same month a year ago, advancing 3.5 percent to 964,164 vehicles, an industry group said Wednesday.
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Production in Japan rose at three of the nation's top five automakers in September from a year ago, but was down at scandal-hit Mitsubishi Motors Corp. as well as at Nissan Motor Co., according to figures released Tuesday.
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Japan's Nikkei average closed lower on  Thursday, snapping a three-day gaining streak, as profit-taking  hit auto makers and other exporters that had attracted buyers  on the back of extended gains on Wall Street.
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Ford Motor Co. F.N said on Monday it  has stopped production at its assembly plant in Georgia for at  least a day because of lack of parts.
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Japanese authorities today suspended the operation of a nuclear power plant damaged by yesterdayâs earthquake.
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A computer glitch halted calculations of  Japan's Nikkei share average for the first time ever on Monday,  the latest technical problem to snarl Tokyo stock market trade.
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Japanese stocks rose for a second day, led by steelmakers such as JFE Holding Inc., after Nissan Motor Co. said a steel shortage will push it to suspend auto production at three plants, boosting optimism for metal demand.
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Japanese carmaker blames high costs, rising taxes and weak domestic sales for a drop in quarterly profits.
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Toyota Motor Corp. (7203.T) expects to  lose 55,000 units of vehicle production through the stoppage of  most of its domestic factories through Tuesday after last  week&#39;s earthquake in Japan, President Katsuaki Watanabe said on  Monday.
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Increased Chinese steel exports give the industry indigestion.