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Consumer Corner: Foreclosure settlement no magic bullet for economy
TOKYO, July 30 (UPI) -- Japanese electronics giant Sony said it would cut its workforce by 16,000 and close factories after posting losses in the most recent quarter.
Sony posted a net loss of $390.5 million in its fiscal first quarter, with overall sales dropping 19.2 percent compared to same period of 2008, The New York Times reported Thursday.
The company currently operates 57 factories worldwide. But sales have slumped 27.3 percent across a broad swath of Sony products, which include Bravia LCD televisions, digital cameras, Walkmans, PlayStation game platforms and computers.
In the quarter, Sony's motion pictures division posted a gain of 6.5 percent in sales, propped up in part by the success of "Angels & Demons," a movie starring Tom Hanks, the Times said.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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EL SEGUNDO, Calif., Feb. 13 (UPI) --
Wyle, an aerospace engineering and technology company, has been picked to provide services to the U.S. Air Force Material Command.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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