Market Report - Companies Continue to Lose

ANCHOR:
In todays Market Report a large amount of Asian corporate losses and job cuts could not keep regional shares from gains.

Consumer giant Panasonic is expecting to lose $4.2 billion and 15,000 staff. The world's No.1 plasma TV maker has been slammed by slowing sales and a firmer yen, predicting its first loss in six years as it closed 27 manufacturing sites.

Rival Sony is also predicting a loss, although not as large, although shares gained ahead of the announcement along with the Nikkei.

Japan's Mazda and Mitsubishi warned of losses this year. Mazda's U.S. sales fell 30 percent and Mitsubishi's 37 percent in January, as demand in the key market falls off a cliff.

Elsewhere in the region, Australian airline Qantas Airways says first-half profit fell 66 percent, hurt by high fuel costs and a downturn in international travel.




BHP Billiton, the world's biggest miner, reported a mild increase in first-half profit, aided by a burst of Chinese demand.

Category:

News & Politics

Tags:

• ntd
• market report
• asia shares
• money
• trade
• economy
• business
• stock
• oil
• inpex

[nkengasong]

this cannot happen