Toyota, other Japanese carmakers: Kobe Steel aluminium is safe

Kobe Steel chief executive Hiroya Kawasaki and other company officials bow in apology during a news conference in Tokyo Japan after admitting the firm falsified data. Kim Kyung-Hoon  Reuters

Japanese steelmaker Kobe Steel Ltd 5406.T , embroiled in a data falsification scandal that has roiled global supply chains, will hold a first round of bidding on Friday in the planned sale of a real estate unit, Bloomberg News reported on Wednesday.

3 steelmaker, admitted earlier this month to falsifying the quality data for aluminium and copper products and even optical disks.

The tampering went back 10 years, a source said.

Mazda Motor Corp. and Honda Motor Co. also said they found no safety concerns regarding Kobe Steel's aluminum panels in their cars.

Toyota, one of the world's largest automakers, identified aluminium plates supplied by Kobe Steel for the hoods and rear hatches of Toyota and Lexus brand vehicles. While only 4 percent of aluminum and copper shipments were affected, Japanese automakers were forced to figure out whether or not they'd used unsafe components on their vehicles.

Hard Facts About PayPal Holdings, Inc. (NASDAQ:PYPL)
Stelac Advisory Services LLC purchased a new position in shares of PayPal Holdings during the first quarter valued at $119,000. The stock is now moving above its 20-Day Simple Moving Average of 2.16% with a 50-Day Simple Moving Average of 6.67 percent.

Notable Stock Analysts Ratings Wells Fargo & Company
Piper Jaffray Companies set a $50.00 price target on Wells Fargo & and gave the company a "hold" rating in a report on Sunday. BidaskClub upgraded shares of Wells Fargo & from a sell rating to a hold rating in a research note on Thursday, June 29th.

Both Resident Evil: Revelations have a new mini-game on Switch
Resident Evil: Revelations and Resident Evil: Revelations 2 will be released in Europe for the Nintendo Switch on November 28. The Nintendo Switch versions of the games will also feature exclusive motion controls .

Unsurprisingly, Kobe Steel has since taken a nose dive, with stocks dropping a insane 40% since the scandal was revealed.

Nonetheless, the company's fate hangs in the balance while checks are being carried out. They said there are no safety concerns associated with the components. "For a manufacturer, quality control is the most important thing and they were cheating for many years".

The metals and equipment maker said late Tuesday that it would "sincerely cooperate" with an investigation by the U.S. Department of Justice.

Japan's Ministry of Land, Infrastructure, Transport and Tourism is planning to probe the safety of automobiles, trains and planes using Kobe Steel products, a ministry spokesman said on Thursday.

"Where alternative suppliers are available, it is recommended to suspend use of Kobe Steel products until the legitimacy of the affected parts can be determined", the European Aviation Safety Agency said in a safety information bulletin.

Related:

Comments

Latest news

Governors Ask Buhari for Full Payment of Paris Club Refund
But clearly, this has shown that it is not about just releasing money to them. They must first give account of what has been released to them.

White House spokeswoman contradicts Trump, but gets no Left love
John Kelly's son, Sanders was asked by CNN's April Ryan about the reports that the president didn't know the name of Sgt. Sanders said she wasn't sure whether Kelly "knew about that specific comment but they had certainly had a conversation".

John McCain May Seek Subpoena for Information on Niger Attack
McCain also argued Wednesday that the Trump administration is not being forthcoming about the information it has. Rapuano went on to say, "It is clear we have more work to ensure we are ready for a significant cyber incident".

Bristol-Myers Squibb (BMY) Given Daily News Sentiment Rating of 0.22
Crestpoint Capital Management Llc decreased Snap (NYSE:SNA) stake by 4,700 shares to 3,900 valued at $616,000 in 2017Q2. Winslow Evans & Crocker Inc increased Bristol Myers Squibb Co ( BMY ) stake by 28.05% reported in 2017Q2 SEC filing.

Philip Morris International Inc (PM) Issues FY17 Earnings Guidance
The company provided EPS guidance of $4.75-4.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.84. Analysts await Philip Morris International Inc (NASDAQ:PM) to report earnings on Oct, 19 for the fiscal quarter ending Sep 2017.

Teddy Bridgewater returns to Vikings practice
The 24-year-old quarterback said his knee was feeling fine the day after his first practice, though he wasn't taking any hits. If we're not being smart and I'm not doing whatever it takes to get to the race, I'll never be able to run the race.

Manager Koeman backed by Everton board despite poor start
Koeman's side are bottom of Group E, three points adrift of leaders Atlanta, having failed to win either of their opening matches. Kevin Mirallas, Tom Davies and Davy Klaassen all start for Everton in tonight's Europa League clash against Lyon .

Parents Get Help Coaching Teen Drivers from Michelin, NFL Star
A nationwide study conducted by the NHTSA showed nearly 2,000 teens were in involved in fatal traffic crashes in 2015. Remind your teen that it's important to buckle up on every trip, every time, no matter what - front seat and back.

Trust Investment Advisors Invests $558000 in Union Pacific Corporation (NYSE:UNP)
One of the key things investors look for in a company is the ability to grow earnings at a high compound rate over time. On average, analysts expect that Union Pacific Corporation will post $5.76 earnings per share for the current year.

President Suggest Dems, FBI or Kremlin May Have Bank Rolled Salacious Dossier
The dossier, first released publicly by Buzzfeed, was filled with unfounded smears about Trump that lacked evidence or proof. Taking to Twitter , the US President said: "Workers of firm involved with the discredited and Fake Dossier take the 5th".

Suspect in officer's death rubs feces on face, halts trial
On Thursday, deputies told ABC News that Judge Herman would not allow anyone to sit next to Boys, fearing he would act out again. Matthew Vogel, a staff attorney with the Orleans Public Defenders, said Boys was next of kin for both of his relatives.

Ines Rau Makes History as Playboy's First Transgender Playmate
And when they made a decision to remove nudity from the magazine, it send shock waves through the publishing industry. According to People Magazine, Rau has described herself as a hippie, tomboy, and party girl.

Destiny 2 prestige raid world first achieved by team using glitch
To make things worse, this wasn't the glitch that Bungie detected before launch, and postponed the Prestige Raid release over it. Clan members even called out their use of the exploit , as you can hear (and see) at about 11 seconds into the video below.

North Korea Threaten Nuclear Strike on USA
In that same warning, the ambassador said North Korea would show peace toward any country that does not cooperate with the U.S. That's because the United States and North Korea are locked in a nuclear standoff that has raised the genuine prospect of war.

GM Reaches $120 Million Ignition-Switch Settlement With State Attorneys General
In the settlement announced Thursday, 49 states will receive a total of $120 million. In 2015, GM paid $900 million to settle a U.S.

Other news