ILEA000006772: Bridgestone to face $900 mil. group loss on tire recall

Michelin Rolls Out Its Own Global Living Wage

File photo dated December 5, 2023 shows Florent Menegaux, President of Group MIchelin at the Inauguration of Symbio factory gigafactory in Saint Fons near Lyon, France. After realizing that the minimum wage in its home country left some workers at breaking point, French tire-maker Michelin has taken matters into its own hands to give employees a hefty pay raise. Michelin is rolling out its own living wage to its 132,000 employees, the company said in a press release shared with Fortune and first reported by French publication Le Figaro. The 134-year-old group, which makes heavy-duty tires for construction and freight-handling companies, has set living wages for employees based on their location to correlate with living costs. The calculation for the living wage was also made based on what employees needed to provide for their family’s “essential needs.” Photo by Julien Reynaud/APS-Medias/ABACAPRESS.COM

Xinhua Headlines: Top 10 China news stories of 2022

(221229) -- BEIJING, Dec. 29, 2022 (Xinhua) -- Chinese President Xi Jinping walks to the venue of the 17th summit of the Group of 20 (G20) in Bali, Indonesia, Nov. 15, 2022. Xi delivered a speech titled "Working Together to Meet the Challenges of Our Times and Build a Better Future" at the summit. The G20 summit kicked off here on Nov. 15. Top 10 China news stories of 2022 6. Head-of-state diplomacy inspires broad strides in China's major-country diplomacy From Nov. 14 to 19, Xi attended the 17th Group of 20 Summit in Bali, Indonesia, and the 29th Asia-Pacific Economic Cooperation Economic Leaders' Meeting in Bangkok, and paid a visit to Thailand. In Bali, Xi met with U.S. President Joe Biden, the first face-to-face meeting between the heads of state of the two countries during the past three years. These were only part of a series of head-of-state diplomatic actions throughout the year of 2022, starting from the Beijing Winter Olympics in February to Xi's Mideast trip in December. Guided by head-of

Police search seafood firms over false labeling of eel products

KOBE, Japan - Takashi Oohori (R), president of Kobe-based seafood wholesaler Shinko Gyorui Ltd., a subsidiary of Maruha Nichiro Holdings Inc., bows in apology during a press conference in Kobe on July 3 after police raided his company and seafood importer Uohide as part of an investigation into a false-labeling scandal in which the two firms allegedly sold grilled eels farmed in China as products made using eels raised in Japan. (Kyodo)

Fukuchi becomes new NHK head

TOKYO, Japan - Former Asahi Breweries Ltd. adviser Shigeo Fukuchi (file photo) became president of public broadcaster NHK on Jan. 25. Fukuchi is the first head of NHK, officially called Japan Broadcasting Corp., hailing from the outside in about 20 years. He succeeded Genichi Hashimoto, who stepped down Jan. 24 to take responsibility for the insider stock trading scandal, for a three-year term.

8 Nippon Shinpan officials, 1 racketeer nabbed

TOKYO, Japan - Yoji Yamada (R), president of Nippon Shinpan Co., bows at a press conference at the company's head office in Tokyo on Nov. 16 to apologize for the arrests of eight senior company officials who are suspected of giving 28 million yen to a racketeer. (Kyodo)

Toshiba to cut 17,000 jobs

TOKYO, Japan - Toshiba Corp. President Tadashi Okamura announces in Tokyo on Aug. 27 that his company will slash 17,000 jobs, or 12% of its domestic group workforce of 144,000, by the close of the fiscal year that ends March 31, 2004 to cope with the downturn in the information technology sector.

Bridgestone to close plant in wake of tire scandal

TOKYO, Japan - Shigeo Watanabe, president of Bridgestone Corp., Japan's biggest tire maker, speaks at a press conference in Tokyo on June 27 about the company's plan to shut down its Firestone plant in Decatur, Illinois, to help it recover from the tire recall scandal. He also said that the company will fall into the red on a parent-only basis in fiscal 2001 for the first time since 1961.

Bridgestone says Ford Explorer models potentially defective

TOKYO, Jjapan - Bridgestone Corp. President Shigeo Watanabe speaks at a news conference at his head office in Tokyo on June 1. Watanabe said some of Ford Motor Co.'s Explorer models have potential defects in design and the tires made by Bridgestone's U.S. unit alone are not responsible for accidents.

Bridgestone says ending Ford tire sales 'wrenching decision'

TOKYO, Japan - Shigeo Watanabe, president of Bridgestone Corp., meets the press at the company's head office in Tokyo's Chuo Ward on May 22, a day after its U.S. unit, Bridgestone/Firestone, announced it would end almost 100 years of supplying tires to Ford Motor Co.

German retailer Metro to open outlet in Japan with Marubeni

TOKYO, Japan - Hans-Joachim Koerber (R), chairman of Germany's Metro AG, the world's No. 3 retailer, meets the press in Tokyo on April 13. Koerber said his company and Japanese trading house Marubeni Corp. have agreed to set up a joint venture and open a Metro outlet in the Tokyo area next summer. Metro, with annual sales worth the equivalent of 5 trillion yen, is in the same retail league as U.S.-based Wal-Mart Stores Inc. and France's Carrefour SA.

Bridgestone to face $900 mil. group loss on tire recall

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