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Honda Motor and Nissan Motor are reportedly in the process of merging their companies and are set to start negotiations soon, according to Japanese media.
The news, which was first reported by the Nikkei newspaper on Tuesday, comes as both auto giants struggle to compete with the largest global electric vehicle (EV) makers, including Tesla and Chinese automaker BYD.
The merger plans have not been confirmed by either company. On Tuesday, both companies released identical statements tossing water on the reports.
"As announced in March of this year, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other's strengths," the companies said in separate statements.
MILLIONS OF CAR OWNERS ARE DELAYING MAINTENANCE REPAIRS AS COSTS RISE
Nissan and Honda are reportedly in talks to merge their companies. (Getty Images / Getty Images)
Honda and Nissan are the second and third-largest auto manufacturers in Japan, respectively, with Toyota leading them both.
The respective market capitalizations of Honda and Nissan are roughly 5.95 trillion yen ($38.8 billion) and 1.17 trillion yen ($7.6 billion).
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Honda and Nissan are the second and third-largest auto manufacturers in Japan, respectively, with Toyota leading them both. (Kyodo via Reuters Connect / Reuters Photos)
In November, Nissan cut its global workforce by 9,000 in a set of massive layoffs, diminishing its global production capacity by 20%.
At the time, the company explained that it was "facing a severe situation" and laid out a plan to achieve "healthy growth." The goals included reducing fixed costs by 300 billion yen (around $1.9 billion) and variable costs by 100 billion yen (roughly $649 million).
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The respective market capitalizations of Honda and Nissan are roughly 5.95 trillion yen ($38.8 billion) and 1.17 trillion yen ($7.6 billion). (Ty Wright/Bloomberg via Getty Images / Getty Images)
"The company is implementing various measures to lower selling, general, and administrative expenses, decrease the cost of goods sold, rationalize its asset portfolio, and prioritize capital expenditures and investments in research and development," Nissan said in a statement at the time.
Reuters and FOX Business' Elizabeth Pritchett contributed to this report.
Sean “Diddy” Combs is facing a “fake trial” in which his unusual sexual preferences have been unfairly criminalised and his “private sex life” turned into a “crime scene”, his defence team has argued in the final day of closing arguments.
At the end of week seven in the sex-trafficking trial, Combs’s lead counsel, Marc Agnifilo, told the court Combs was the victim of an overzealous prosecution, who had portrayed his “swinger” lifestyle as a racketeering conspiracy.
Image: Combs listens as his lawyer Marc Agnifilo makes his closing arguments. Pic: Reuters
Combs is charged with one count of racketeering conspiracy, two charges of sex trafficking, and two charges of transportation to engage in prostitution.
He has pleaded not guilty to all charges and has strenuously denied all allegations of sexual abuse. If found guilty, he could face being put behind bars for life.
Frequently adopting a sarcastic tone, Agnifilo mocked the government’s case against Combs, belittling the agents who seized hundreds of bottles of Astroglide lubricant and baby oil at his properties last year.
Commenting that America’s streets were now “safe from Astroglide”, he went on, “Way to go, fellas”, before adding, “you do you”.
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He said prosecutors had “badly exaggerated” the evidence against Combs, presenting “threesomes as racketeering”, arguing that he is not guilty of racketeering conspiracy and sex trafficking.
The defence also highlighted the prosecution’s decision to indict Combs on a racketeering conspiracy charge alone, flagging that no alleged co-conspirators have been indicted alongside him.
The defence’s closing arguments lasted for just over four hours, with members of Combs’s family, including six of his children and his mother, watching on in the public gallery.
Image: A court sketch of Sean ‘Diddy’ Combs. Pic: Reuters
Agnifilo said Combs has “taken care of people”, including Jane, a former girlfriend who testified under a pseudonym, paying for her rent and for her legal representation.
The defence lawyer said: “I don’t know what Jane is doing today, but she’s doing it in a house he’s paying for.”
He went on: “This isn’t about crime. It’s about money. This is about money.”
Presenting the trial as a zero-sum game, he described his former girlfriend of almost 11 years Cassie Ventura as the “winner in this whole thing”, noting that she settled her civil case with Combs for $20m (£14m) in November 2023, as well as a $10m (£7.3m) from the InterContinental Hotel.
Cassie and Jane both gave evidence during the trial that they were coerced repeatedly by Combs to perform in drug-fuelled, days-long sex marathons with male sex workers, while Combs watched, directed, masturbated and sometimes filmed the encounters.
But the defence accused prosecutors of having invaded Combs’s bedroom and his most intimate personal affairs.
Agnifilo asked: “Where’s the crime scene? It’s [Combs’s] sex life.”
Continuing his line of sarcastic quips, he joked, “We need a bigger roll of crime scene tape”, referencing a line from the classic movie Jaws.
Agnifilio’s sarcasm irked the prosecution, who later complained to the judge that he was using “improper arguments”.
Image: Diddy and Cassie in 2016. Pic: zz/JMA/STAR MAX/IPx/AP
The defence characterised Combs’s relationship with Cassie as “a great modern love story”, going on to describe her as a “gangster” for cheating on him with rapper Kid Cudi.
They also characterised the “freak offs” as “beautiful”, saying the videos showed “everyone smiling”, eating and listening to music, and commenting that Combs was “not the only man in America making homemade porn”.
The defence admitted Combs was a domestic abuser, but said such behaviour did not justify the grave charges he faces.
Agnifilo advised the jury to “Call this as you see it,” asking them to “acquit Sean Combs of all the counts” and “return him to his family”, who he said has been waiting for him.
Combs, who has been in a New York jail since his arrest in September last year, did not give evidence during the trial.
Following the defence’s closing argument, assistant US attorney Maurene Comey delivered a rebuttal summation in which she said the defence’s argument that Cassie, Jane and Mia, a former employee who also testified under a pseudonym, all “wanted sex” was a lie, telling the court none of the women had reason to speak anything other than the truth.
She also said the “freak off” videos tell only “part of the story”.
Comey said Combs had spent the last 20 years believing himself to be “above the law”, seeing himself as “untouchable” and “a god among men”.
She said his impunity would end now in this courtroom, before urging the jury to “find him guilty” and “hold him accountable”.
On Monday, the judge will read the law to the jury, after which deliberations will begin.
To convict Combs, the 12 jurors must vote unanimously.
ESPN baseball reporter. Covered the L.A. Rams for ESPN from 2016 to 2018 and the L.A. Angels for MLB.com from 2012 to 2016.
Los Angeles Angels manager Ron Washington will remain on medical leave for the rest of the season, the team announced Friday.
Bench coach Ray Montgomery will manage the team for what remains of 2025. Ryan Goins will serve as his bench coach going forward.
Washington, the oldest manager in the major leagues at 73, was placed on leave last Friday because of an undisclosed medical issue. He experienced shortness of breath and appeared fatigued toward the end of a four-game series at the New York Yankees that ended on June 19. Washington flew back to Southern California, underwent a series of tests and was placed on medical leave.
A longtime third-base coach and well-regarded infield instructor, Washington served as the Texas Rangers‘ manager from 2007 to 2014.
He was in his second year managing the Angels.
The Angels were 40-40 entering Friday night’s game against the visiting Washington Nationals, winning three straight under Montgomery and seven of 10 overall. Los Angeles has played better than most expected from a team with major league-worst streaks of nine straight losing seasons and 10 straight non-playoff seasons.
The 55-year-old Montgomery is getting his first job as a major league manager. The native of New York’s Westchester County is a former Houston Astros outfielder who served as the scouting director for Arizona and Milwaukee before joining the Angels as their director of player personnel for the 2020 season.
Montgomery became Los Angeles’ bench coach in 2021 after general manager Perry Minasian took over the front office, and he stayed with the Angels while Joe Maddon, Phil Nevin and Washington managed the club.
Goins played eight seasons in the major leagues before Washington hired him as the Angels’ infield coach before the 2024 season.
Information from The Associated Press was used in this report.
Martinez (5-8) walked his third batter, Jackson Merrill, on a low full-count sinker, then retired 22 consecutive hitters before walking rookie Trenton Brooks starting the ninth. Diaz then drove an 0-1 changeup off the base of the wall in left-center on Martinez’s 112th and final pitch, which tied his career high.
A 34-year-old right-hander, Martinez struck out six as the Reds won for the fourth time in five games. He also threw 112 pitches for Texas against Boston on May 28, 2015.
Coming off a pair of relief appearances, Martinez made his first start since June 19. He entered with one complete game over 118 big league starts, an eight-inning effort in a loss at the Chicago Cubs last Sept. 27.
After Martinez allowed seven runs over 2⅔ innings against Minnesota, Reds manager Terry Francona suggested he make a relief appearance. Martinez threw two perfect innings at St. Louis two days later, and Martinez offered to making another bullpen outing to keep starter Brady Singer on turn. Martinez pitched a 1-2-3 innings against the Yankees on Monday.
Steer hit solo homers in the second and fourth innings off Dylan Cease (3-7), then a two-run drive against Yuki Matsui in a four-run fifth. Steer has nine home runs this season.