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World Street| Honda-Nissan merger eyed, EU approves Nvidia's latest acquisition, and more

From the aversion of a US government shutdown to Starbucks workers strikes across 10 US cities, here's a look at some of the major developments from across the world.

December 23, 2024 / 07:47 IST
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World Street offers a sneak peek into the world of business and economy.

Reports suggest that the presidents of Honda, Nissan, and Mitsubishi have notified Japan’s industry ministry about initiating merger discussions, with investors eyeing an official announcement. Meanwhile, Nvidia's $700 million acquisition of Run:ai has received the green light from the European Commission. Additionally, News Corp has reached an agreement to sell its Australian cable TV business, Foxtel, to the British-owned sports network DAZN for $2 billion. All this and more on the December 23 edition of World Street.

Walk the talk

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Japanese automakers--Honda and Nissan are likely to announce the commencement of business integration talks today, according to a report by Reuters. The discussions aim to address the evolving challenges in the automotive industry. Both companies have scheduled board meetings on the same day, followed by a joint press conference, which Nissan's alliance partner Mitsubishi Motors is also expected to attend.

If realized, a merger among these three Japanese automakers would create the world’s third-largest auto group by vehicle sales, trailing only Toyota and Volkswagen. Honda and Nissan have reportedly been exploring deeper collaboration avenues, such as forming a joint holding company, to counter rising competition from Tesla and Chinese automakers, as reported by Reuters last week.