TOKYO: Takata Corp, the air bag maker behind the biggest automotive recall, said quarterly profit plunged by one-third as the supplier drafted restructuring plans in the face of billions of dollars in potential costs related to its defective safety products. Net income fell to ￥2.07 billion (US$20.5 million) in the quarter ended in June, from ￥3.1 billion a year earlier, Takata said yesterday. The company booked a ￥3.5 billion charge in the period related to air bag lawsuits. Takata reiterated its belief there is no material uncertainty about its ability to continue as a going concern, saying it cannot estimate the costs of responding to its air bag woes.
Zong & Zindigi launch Z-Wallet, bringing embedded banking to millions of My Zong App users
ISLAMABAD: Zong, Pakistan’s leading technology services enterprise, has partnered with Zindigi, powered by JS Bank, to launch Z-Wallet, bringing regulated...
