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Toyota Projects Annual Profit to Fall 35%

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 2:49
  • Date

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That's right that's -- -- detailing how the devastating earthquake will affect the company's annual result.

Have a great in our newsroom with the details Robert not such great news from -- businesses it.

Yeah absolutely a bumpy road so to speak for -- -- -- investors ahead -- they are gonna see.

About a third less profit for the fiscal year then now they get a you're good to three point seven billion dollars.

That's 45%.

Below the average estimate from analysts always the bottom line being hit but they're gonna lose their title as the world's largest auto maker and they work.

Just to take that away from General Motors in the past couple years GM looks to take it back from them.

Not only that but wait a -- -- all -- number three behind Volkswagen as well.

Now since this nine point oh magnitude earthquake rocked northeastern Japan back on March 11.

To -- another Japanese -- -- struggling they cut output at home and abroad struggling to get vital parts we've heard all about the supply chain.

-- -- automotive industry but certainly in the electronics industries as well -- the ensuing nuclear disaster power shortages throughout Japan.

Also struggling to secure.

Compounding their problems -- really.

Father had a 52% drop in profit during the first quarter of this year they had delayed giving this full year outlook until now they -- out a little more visibility Diane.

But are they do us he had trouble ahead in least initially here for -- -- production ramp back up there ADRs as you see have been struggling down about 5%.

-- cents on March this 5% year to date -- and in fact they're down just about 1% in premarket trading so Iraq.

If for Toyota there -- bring it back over to the US where farmers across the country are getting hit by bad weather and many rely on government subsidies to make ends meet.

But other says -- growing out of control actually Webster's honest I.

New Jersey with more Ashley I -- it -- should we expect cutbacks here.

Well it's a good question Diane and as a cause we know the federal budget deficit is running into the trillions more -- more people are asking the question.

Should we be paying out a tax -- be paying out billions and billions of dollars every year.

And farmers because keep this in mind farm income is up 20% this year.

And some of these bombs that are receiving federal subsidies I think while up to 750000.

Dollars a year so obviously the question is off.

Do farmers deserve these subsidies while many of the subsidies go to the loss from operations not a small and mid size -- And because -- this was saying continued -- calls in congress.

To stop to scaling back some of these as subsidies in the -- of certainly of direct payments.

Republican Chuck Grassley -- buyer or a Democrat Tim Johnson's South Dakota say the limit the income limit should be 1000000.

-- for the rest of the day we'll be looking at these issues.

And asking the question Diane.

Do farms get too much money from a tax plan.

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