Business News Archive - December 20, 2008
Japan's Toyota Motor Corp.
McDonald's says it likely will become the first restaurant chain in Japanese history to surpass a half-trillion yen, or $5.6 billion, in yearly sales. Officials of McDonald's Holdings Co.
A series of run-ins between celebrity developer Donald Trump and the California community of Rancho Palos Verdes is culminating in a lawsuit, observers say. Trump filed suit against the small city this week, claiming his plans to build a world-class golf course there have been stymied due to fraud and civil rights violations by Rancho Palos Verdes, which he says is refusing to let him build the course in the Trump image, The Los Angeles Times reported Saturday.
Yearly domestic auto sales in Japan have been projected to fall under 5 million units for the first time in 31 years, industry officials said.
PEORIA, Ill., Dec.
Wal-Mart Stores Inc., rejected in its last attempt to build a second store in Chicago, will try the city again in the spring, a company official says.
British Prime Minister Gordon Brown says he doesn't want his government to bail out struggling British car makers or their subsidiaries. These are issues that will be debated over the next period of time, but there is no promise that we've made of any support, Brown said Friday. Industry officials,
A Hawaiian official says a drastic decline in tourists has the island state's tourism industry facing its worst year in several years. State Tourism Liaison Marsha Wienert said the number of 2008 visitors to Hawaii has dropped 10.2 percent through November, meaning this year is on track to overtake a 9.3 percent annual drop in 2001, the Honolulu Star-Bulletin reported Saturday. We had estimated that we'd be off by 10 percent for the year, but right now it looks like it's going to be a little more, she said.
Canadian Auto Workers says the union will resist if Canada's $4 billion automaker rescue package calls for deep concessions from its members. The CAW was awaiting details of the bailout announced Saturday in step with the $17.4 billion U.S.
The Detroit automakers bailout would force the surrender of the United Auto Workers to the non-union labor movement of the U.S. South, analysts say.