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MADRID (Reuters) - U.S. car manufacturer Ford (F.N) will stop car production in its plant in Almussafes in eastern Spain for nine days during November due to a lower demand for its vehicles, a spokesman said on Tuesday. Engine production would also be halted for 13 days next month, he said. Part of the Spanish production of Ford engines is sent to Canada for assembly of its Edge model. The latest production shut down comes after a three-day halt in October. Ford employs some 7,500 workers at the Almussafes plant which produces around 1,840 cars a day.

SEOUL (Reuters) - South Korea’s Lotte Group, whose chairman was released from jail this month, has reset a five-year investment plan just two years after its initial announcement, saying it now aims to spend 50 trillion won university of north carolina needlepoint cufflinks ($44.05 billion) through 2023, The group had previously pledged $35.20 billion through 2021 after Chairman Shin Dong-bin apologized for a corruption probe involving his family, However in the intervening years, the chairman’s own legal battles - in which he was jailed in February for bribery and breach of trust - stalled that plan..

“Since we set out our previous investment plan, we’ve been eight months without a chairman,” said a Lotte Corp official, who was not authorized to speak with media and so declined to be identified. “Our revised plan is to tell shareholders and the public that we are resetting our goal and making a fresh start.”. The plan follows other long-term spending pledges from Samsung Group and Hyundai Motor Group, made after the liberal government assumed office in May last year calling on major firms to invest more in the local economy and create jobs.

“Lotte’s investment plan is typical of a Korean family-run conglomerate,” said Park Ju-gun, head of research firm CEO Score, “When a family member emerges from a scandal, the firm announces an investment plan as a sort of gesture.”, Samsung similarly announced a major investment plan in the months after the release from jail of heir Jay Y, Lee, who had also been convicted of bribery, “It’s also a tradition to announce big investment plans usually university of north carolina needlepoint cufflinks within months of a new government, to respond to the administration’s call for support in strengthening the economy,” Park said..

The new plan includes about 12 trillion won to be spent in 2019, mainly to expand chemical plants in South Korea, Indonesia and the United States. The amount represents the group’s largest investment for a single year, exceeding the 11.2 trillion won spent on the purchase of a petrochemical firm in 2016. “The plan reflects our will to quickly normalize management activities that recently slowed, secure competitiveness for future growth and to contribute to revitalizing the national economy,” holding company Lotte Corp (004990.KS) said in a statement on Tuesday.

The company declined to elaborate how much money had been spent so far under the initial five-year investment plan, In its retail business, which includes shopping malls and supermarkets, Lotte said it would improve online services using big data and artificial intelligence, and build more malls, It also said university of north carolina needlepoint cufflinks it would hire 70,000 people over the next five years, In China, Lotte’s retail business has been struggling since the Chinese government objected to a U.S, missile defense system being deployed in South Korea on land provided by Lotte, in a row that sparked anti-Korean sentiment in the country..

TOKYO (Reuters) - Mitsubishi Heavy Industries (7011.T) is arranging 220 billion yen ($2 billion) in financial support for its aircraft unit, which has struggled to deliver its first passenger plane, national broadcaster NHK reported on Tuesday. Mitsubishi Heavy said in a statement that it was considering ways to resolve excess liabilities at the unit, but added it had not yet made any decisions. Mitsubishi’s regional jet program, Japan’s first passenger plane since the 1960s, has been delayed by several years, with first customer ANA Holdings Inc (9202.T) now expecting its delivery in 2020 rather than 2013 as originally planned.

The 90-seat MRJ was long seen as Japan’s great hope to revive a dormant commercial aviation industry, Japan was banned from manufacturing aircraft for nearly a decade after World War Two, According to NHK, Mitsubishi’s aircraft unit will issue shares worth 170 billion yen as part of a debt-to-equity swap, while Mitsubishi Heavy will forgive 50 billion yen of debt, The aircraft unit’s debts exceeded assets by about 100 billion yen at the end of March, the broadcaster also said, Mitsubishi Heavy CEO Shunichi Miyanaga told a press conference in May that the company would increase university of north carolina needlepoint cufflinks Mitsubishi Aircraft’s capitalization this fiscal year “to enable it to emerge from insolvency”..

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