Japan’s Sony Corp on Wednesday reported a 57% drop in fourth-quarter operating profit and refrained from providing an outlook for the current year due to uncertainty related to the coronavirus outbreak.
Japan’s Sony Corp on Wednesday reported a 57% drop in fourth-quarter operating profit and refrained from providing an outlook for the current year due to uncertainty related to the coronavirus outbreak. The electronics and entertainment firm posted an operating profit of 35.45 billion yen ($331 million) for the January-March quarter, versus 82.73 billion yen a year prior, as the coronavirus hit demand for its smartphone image sensors, cameras and TVs. Operating profit for the year ended March came to 845.46 billion yen, falling 5.5% from the previous year following two consecutive years of record highs. …read more […]
Aston Martin posted a first-quarter pretax loss of 119 million pound ($146 million) after sales dropped by nearly a third due to the impact of the coronavirus outbreak and the destocking of dealers, the carmaker said on Wednesday.
U.S. gold futures fell 0.1% to $1,704.50 per ounce. “This kind of indecision (by investors) really has to do with uncertainty about whether the Fed would be successful with all this stimulus and a desire for liquidity,” DailyFx currency strategist Ilya Spivak said. …read more […]
Las Vegas Sands said it has ended plans to open an integrated resort (IR) casino in Japan, dealing another blow to Japan’s attempts to energise its economy through tourism.
European travel company TUI said that it needed to cut its fixed cost base by 30% and thousands of jobs would be lost as it looks to right-size its business to survive in a market weakened by the coronavirus pandemic.
More than a hundred shoppers waited in line to enter a store of French luxury brand Chanel in Seoul on Wednesday, shrugging off concern about a second wave of novel coronavirus infections to beat imminent price hikes.
Nissan Motor Co plans to cut $2.8 billion in annual fixed costs as part of its restructuring plan, Bloomberg News reported on Wednesday, as it braces for a drop in sales that could complicate its recovery from years of poor profitability.
President Andres Manuel Lopez Obrador will lay out a roadmap on Wednesday for Mexico to re-open its economy, with a focus on the automotive sector whose supply chains are closely interwoven with U.S. carmakers.
Over 300 lawmakers from around the world on Wednesday urged the International Monetary Fund and World Bank to cancel the debt of the poorest countries in response to the coronavirus pandemic, and to boost funding to avert a global economic meltdown.
Intel Capital, the venture arm of chipmaker Intel Corp , has invested in two Chinese startups in the semiconductor sector, the company announced on Wednesday, as part of its latest batch of deals.
Intel Capital, the venture arm of chipmaker Intel Corp , has invested in two Chinese startups in the semiconductor sector, the company announced on Wednesday, as part of its latest batch of deals. The investments in companies that compete in fields typically dominated by U.S. players come as Intel remains embroiled in tensions between the United States and China over chip manufacturing. ProPlus, one the Chinese startups Intel Capital has funded, makes EDA software that chip makers use to design their products before manufacturing them. …read more […]
Mitsubishi Heavy Industries said it was halving the annual development budget for Japan’s first regional jet in half a century, the M90 SpaceJet, as the coronavirus pandemic squeezes profits.
More than a hundred shoppers waited in line to enter a store of French luxury brand Chanel in Seoul on Wednesday, as they rushed to buy products in the hope of beating price increases expected to kick in later in the week.
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