The global automotive recession appears to be deepening after Johnson Controls Inc., a bellwether of the parts making sector, cut its auto production forecast and said it will close 10 plants.
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Johnson Controls to close 10 plants;
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Toyota to cut global capacity by 1 million vehicles
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Bank of Japan cuts economic outlook
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Ford to cut 900 jobs from Michigan plant
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TMX Group cutting jobs
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Dow to cut 5,000 jobs, close 20 plants
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Honda to cut production by another 18,000 vehicles
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Industrial production shrinks by 2.7% y/y in H1.
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Recession continues to impact ethanol industry
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Bosch to close factory in Wales, loss of 900 jobs
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Toyota slashes earnings forecast
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Eurozone manufacturing recession deepens in July;
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Global recession coming to an end:
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Service sector sees fall in sales
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Nissan slashing 20,000 jobs
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Nokia to cut 10,000 jobs globally
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Honda says will add to production slowdowns due to parts shortages