Prime minister faces mounting pressure to step aside from inside caucus
Prime Minister Justin Trudeau will face mounting pressure from his caucus this week to step down from the leadership of the Liberal party.
Honda reported Wednesday that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favourable exchange rates.
Honda Motor Co. said its fiscal first-quarter profit totalled 363 billion yen ($2.5 billion), up from 149 billion yen.
Quarterly sales jumped 21% to 4.6 trillion yen ($32 billion). Honda's financial service division also reported growing sales.
Honda, which makes the Fit subcompact, Honda e electric car and Gold Wing motorcycle, said its profitability improved, especially in North America, where production recovered.
Automakers around the world were slammed by supply shortages because of production delays related to social restrictions caused by the COVID-19 pandemic. But such restrictions have eased, allowing production to pick up again.
Auto sales were about the same in Japan in the latest quarter as in the previous year, while dropping significantly in China because of intense competition from makers of battery electric vehicles, Honda said.
Honda is banking on growth in EVs in the U.S. market, where it recently announced it is joining six other companies in the creation of a high-powered charging network across North America.
Worries about climate change have helped set off a dramatic shift in the auto industry toward battery electric vehicles, allowing for relative newcomers like Tesla and BYD to prosper, while catching some Japanese makers off guard with their hybrids and regular gasoline-powered models.
Honda said a computer chip shortage crimped its motorcycle sales in India, while sales rebounded in Indonesia as production recovered.
Honda said it sold 901,000 vehicles in the latest quarter, up from 815,000 a year earlier. It also sold more motorcycles worldwide at nearly 4.5 million, up from 4.2 million.
Honda added 23 billion yen ($160 million) to its quarterly operating profit because of the impact of currency exchange rates. A weaker yen, trading lately at about 143 yen to the U.S. dollar, is a boon for Japanese exporters by boosting the amount of its overseas earnings when converted into yen.
Honda stuck to its full-year projection of an 800 billion yen ($5.6 billion) profit, up from 651 billion yen a year earlier.
Honda shares slipped 0.9% on the Tokyo Stock Exchange.
Prime Minister Justin Trudeau will face mounting pressure from his caucus this week to step down from the leadership of the Liberal party.
Liberal cabinet minister Steven Guilbeault says the Liberals will not be 'held hostage' by the Bloc Quebecois' demand to expand Old Age Security to more seniors.
Amid escalating violence in the Middle East, a majority of surveyed Canadians say they don't believe the costs associated with Canadians fleeing the region should be funded solely by the government.
Small clinical trials have shown that one or two doses of psilocybin, given in a therapeutic setting, can make dramatic and long-lasting changes in people suffering from treatment-resistant major depressive disorder, which typically does not respond to traditional antidepressants.
The Orient Express' opulent passenger experience was later immortalized in popular culture by authors like Graham Greene and Agatha Christie. But dining on the move was very much a triumph of logistics and engineering.
Toronto police have identified the woman who was allegedly killed by a suspected serial killer earlier this month.
A New Zealand man who disappeared with his three children in 2021 was spotted on a farm along the country's northwest coast, police say.
A man who stabbed a senior to death in Vancouver's Biltmore Hotel building in 2020 has been given a conditional sentence for the killing, meaning he will not serve any jail time if he remains on good behaviour in the community.
British Columbia billionaire Chip Wilson has put up yet another billboard message to voters, his third post outside his multimillion-dollar mansion in NDP Leader David Eby's own riding.
James Taylor never expected to be walking home with a bag full of groceries he didn't buy.
This weekend marks the fifth anniversary of a large blizzard that paralyzed Manitoba.
There was an eye-catching mix of rainbows and lightning over Vancouver following a brief downpour this week.
Jeff Warner from Aidie Creek Gardens in the northern Ontario community of Englehart has a passion for growing big pumpkins and his effort is paying off in more ways than one.
Saskatchewan鈥檚 Jessica Campbell has made hockey history, becoming the first ever female assistant coach in the National Hockey League (NHL).
Have you ever seen videos of hovercrafts online or on TV and thought, 'Wow, I wish I could ride one of those.' One Alberta man did, and then built his own.
A B.C. couple is getting desperate 鈥 and creative 鈥 in their search for their missing dog.
Videos of a meteor streaking across the skies of southern Ontario have surfaced and small bits of the outer space rock may have made it to land, one astronomy professor says.
A unique form of clouds made an appearance over the skies of Ottawa on Sunday evening.