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Forex 20 Jan 2017 | 12:00 AM

Bain Capital joins KSS in bid to rescue Takata Corp

TOKYO: US buyout firm Bain Capital has joined Key Safety Systems (KSS) in the US auto parts supplier’s bid to rescue Takata Corp, a source said, as the Japanese firm struggles for survival after a massive recall linked to its faulty air bags.

Business 06 Feb 2017 | 12:00 AM

Key Safety emerges as preferred bidder for Takata

TOKYO: Chinese-owned Key Safety Systems Inc has emerged as the leading bidder for Takata Corp, the embattled air-bag maker that’s seeking a buyer after causing the biggest safety recall in automotive history.

Corporate News 06 Feb 2017 | 2:09 AM

Takata shares untraded with heavy sell orders

TOKYO: Shares in Japan's Takata Corp were untraded with a glut of sell orders on Monday after sources said the struggling air bag maker had selected Key Safety Systems (KSS) as the final bidder for its restructuring, raising a concern that the U.S. auto parts supplier could lead Takata into a bankruptcy.

Economy 16 Feb 2017 | 7:38 AM

Food prices soaring in drought-hit East Africa

KAMPALA: Prices of maize, sorghum and other cereals have risen to unusually high levels in some countries in East Africa as a result of a previaling drought, according to the United Nations Food and Agriculture Organisation (FAO).

Corporate News 30 Mar 2017 | 6:23 AM

Toyota recalls 2.9m vehicles globally over airbags

TOKYO: Toyota Motor Corp on Thursday said it was recalling a total of about 2.9 million vehicles in Japan, China, Oceania and other regions including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbag inflators.

Business 01 Apr 2017 | 12:00 AM

Beefing up security, well, briefly

Speakeasy - By S. JAYASANKARAN
THERE’S a new threat looming in Great Britain. Grim stuff. Not for the faint-hearted.

Markets 27 Apr 2017 | 3:07 AM

Shares in Japan's Takata suspended after report on bankruptcy plan

TOKYO: Trading in Takata Corp shares was suspended on Thursday after a report that the Japanese airbag maker at the heart of the car industry's biggest-ever recall is considering a bankruptcy plan that will create a new company and ringfence its liabilities.

Business 12 May 2017 | 12:00 AM

High school dropout turns billionaire

SEOUL: The man behind South Korea’s biggest initial public offering in seven years has charted an unlikely path in a country dominated by family-run conglomerates.

Auto 16 Jun 2017 | 12:35 AM

Trading in Takata shares to be suspended

TOKYO: Trading in shares of Japanese air bag maker Takata Corp will be temporarily suspended on Friday, said Japan Exchange Group, which operates Tokyo Stock Exchange.

Corporate News 26 Jun 2017 | 12:34 AM

Takata decides to file for bankruptcy

TOKYO: Japan's Takata Corp, the firm at the centre of the auto industry's biggest ever product recall, will file for bankruptcy protection in Japan on Monday with liabilities of more than 1 trillion yen (US$9 billion), a source said.