Japanese big manufacturers' business confidence worsened in the three months to March compared with the previous quarter, the Bank of Japan's closely-watched tankan survey showed on Monday. The headline index for big manufacturers' sentiment stood at plus 11 in the first quarter, versus plus 10 seen by economists in a Reuters poll, the March tankan survey showed.
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China's SAIC Motor aims to cut thousands of jobs this year at its joint ventures with General Motors and Volkswagen and at an electric-car unit, two people with knowledge of the matter told Reuters. The state-owned automaker hopes to cut 30% of employees at SAIC-GM, 10% at SAIC Volkswagen and more than half at its Rising Auto EV subsidiary, the people said.
