Toyota deepens Japan output halt on scarcity

Parts supply from SE Asia plants hit

Toyota Motor Co. on Friday expanded production stoppages at some factories in Japan because of a shortage of components shipped from parts plants in Southeast Asia.

The latest halts will cut car output by 9,000 vehicles when added to curbs announced on Thursday, affecting production of Lexus models and its four-wheel-drive Land Cruiser, Toyota said in a press release.

Although limited, the cuts come as Toyota tries to make up for production lost to earlier supply-chain disruptions in Malaysia and Vietnam that forced it to trim vehicle output even as demand for cars in markets such as China rebounded as coronavirus lockdowns ended.

The world’s biggest car producer by volume said it is sticking to an annual output target set in September to build 9 million vehicles by the end of March.

U.S. wins appeal to extradite Wikileaks founder Julian Assange from the UK

• Judge Timothy Holroyde said Friday that the court "allows the appeal."
• In the U.S., the Australian entrepreneur will face criminal charges including breaking a spying law and conspiring to hack government computers.

Julian Assange, the 50-year-old founder of Wikileaks, is a step closer to being extradited after the U.S. government won an appeal in London's High Court.

Judge Timothy Holroyde said Friday that the court "allows the appeal."

In the U.S., the Australian entrepreneur will face criminal charges including breaking a spying law and conspiring to hack government computers.

Holyrode said the U.S. has assured Britain that Assange's detention will meet certain conditions.

U.S. authorities accuse Assange of 18 counts relating to Wikileaks' release of vast troves of confidential U.S. military records and diplomatic cables which they said had put lives in danger.

The United States was appealing against a Jan. 4 ruling by a London District Judge that said that Assange should not be extradited because he would likely commit suicide in a U.S. prison.

TV chef Gordon Ramsay ditches California, moves restaurant HQ to Texas: report

Fox Business Flash top headlines for December 10

Check out what’s clicking on FoxBusiness.com.

Add celebrity chef Gordon Ramsay to the list of people and businesses trading California for Texas. 

Ramsay has relocated his North American restaurant headquarters to Las Colinas, Texas, from the West Coast, according to a report. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The 55-year-old Scottish-born "Hell's Kitchen" host has hired a team of businesspeople and chefs to expand his restaurant empire across North America, according to the Dallas Morning News.

The team has plans to open 18 restaurants in cities like Boston, Miami and Chicago. 

Over the next five years, CEO Norman Abdallah says he’ll oversee the debut of 75 company-owned restaurants.

Some of the expansion will be in the Dallas-Fort Worth area.

The Dallas restaurants likely won’t open until late 2022 or 2023.

The company will first concentrate on expansion along the East Coast and Chicago.

CLICK HERE TO READ MORE ON FOX BUSINESS

Hell’s Kitchen, the one and only restaurant carrying the name of Ramsay's TV show, is in Las Vegas. 

Apple Supports Trump Tariff Waivers On Apple Watch, Mac Pro Parts

Tech giant Apple Inc. (AAPL) has filed eight public requests in support for temporary waivers on tariffs for both the Apple Watch and Mac Pro parts.

The requests, which was first reported by CNBC, are listed on the US Trade Representative’s website.

The USTR has invited comments on “the possible reinstatement of previously extended exclusions,” and Apple’s responses are among 2,024 received so far.

The filings are a public step in a process that could reinstate a government-granted exclusion on 7.5% tariffs on Apple Watch imports and 25% tariffs on Mac Pro components.

The tariffs were levied during the Trump administration as a result of the trade war with China.

Apple, seeking exclusion on the tariffs for Apple Watch stated that it supports reinstating the exclusions, saying “This exclusion is needed for a U.S.-designed smartwatch that is widely used by consumers for mobile connectivity and health applications.” The application continues “This exclusion covers a complex consumer electronics device that is manufactured to specification at individually-qualified facilities. It is not currently available from sources in the United States.”

Similarly, Apple says it supports reinstating the exclusion on Mac Pro parts because the components are not currently available from sources in the United States.

Inter Parfums Raises 2021 Guidance – Quick Facts

Inter Parfums, Inc. (IPAR) said the company now expects 2021 net sales at a record $840 million, and net income of $2.45 per share. Previous guidance was net sales of
$810 million and net income of $2.35 per share.

Analysts polled by Thomson Reuters expect the company to report profit per share of $2.35 on revenue of $817.36 million. Analysts’ estimates typically exclude special items.

For 2022, Inter Parfums maintained its guidance with net sales in the range of $925 and $950 million, and net income per share of between $2.80 and $2.85.

Advanced Drainage Systems Acquires Jet Polymer Recycling For Undisclosed Terms – Quick Facts

Water management solutions provider Advanced Drainage Systems, Inc. (WMS) announced Monday the acquisition of Jet Polymer Recycling, a privately-owned recycling company located in the southeastern region of the U.S. The financial terms of the deal were not disclosed.

This acquisition advances ADS’ strategic priority to expand the ADS Recycling capabilities to support future growth, while also underpinning ADS’ commitment to environmental sustainability.

Through this transaction, ADS has secured high-quality recycled plastic to leverage in the fast growing on-site septic wastewater business, as well as a platform to obtain additional high-density polyethylene in the southern region of the U.S., which remains a key growth area for both ADS and Infiltrator.

Fort Payne, Alabama-based Jet Polymer has three plastic recycling locations in Alabama and Georgia. Jet Polymer is currently the largest supplier of recycled polypropylene plastic for Infiltrator Water Technologies, a subsidiary of Advanced Drainage Systems.