Electronics giant Sony announced late on Monday a revised surprise $3.18bn net loss for the fiscal year that ended in March. It originally posted a profitable projection of $857m in February. The company said the loss was triggered by the production disruptions due to the March earthquake and tsunami and the cyber attack on its online…
Low cost airline Ryanair posted a 26 percent profit increase to €401m in the year to March compared to €319m the previous year. Revenue rose 21 percent to €3.63bn from €2.98bn year-on-year due to a 12 percent jump in airfares, the company said on Monday. “We were pleased to deliver a 26 percent increase in profits…
When investing in Mexico real estate, one of the best ways to see quick and fairly certain property appreciation is by means of price reductions or “fire sales” from urgent sellers. While Mexico’s property market has, on the whole, been more stable than in the U.S., these urgent sales do arise on a regular basis,…
Tokyo Electric Power, the operator of the Fukushima Daiichi power plant hit by the tsunami in March, announced on Friday an all time high $15bn net loss due to the disaster which destroyed four of its reactors. The news was followed by the resignation of Tepco’s president Masataka Shimuzu, and the head of the nuclear division,…
Dominique Strauss-Kahn has resigned as head of the IMF according to a statement issued late on Wednesday by the global finance body. Strauss-Kahn, who faces charges of sexual assault and attempted rape in New York, said in his resignation letter: “I deny with the greatest possible firmness all of the allegations that have been made against…
Texas-based technology company Dell reported late on Tuesday that its Q1 profits had almost tripled due to stronger than expected big business sales. Net income according to the company jumped to $945m from $341m a year earlier and revenue rose 1 percent to $15bn. The technology stalwart saw operating income reaching $1.2bn, while enterprise solutions…
BP’s attempt to gain a grip in Russia’s Arctic oilfields through a £10bn share swap deal with state controlled company Rosneft has collapsed after BP failed to address a dispute and reach an agreement with its partner TNK before the midnight Monday deadline. The Russian half of the Russian-British TNK-BP joint venture had threatened in April…
In a deal valued an estimated $3.7bn or $49.50 a share, a group of Canadian pension funds and banks collectively known as Maple Group Acquisition, confirmed late on Sunday that it has submitted a tender to buy all of TMX Group’s shares. The bid by Maple Group to buy the operator of the Toronto Stock…
The Japanese government endorsed a scheme on Friday to help Tepco, Asia’s largest utility company, compensate victims of the disaster at its tsunami-stricken nuclear power plant and save it from financial collapse. Naoto Kan, Japan’s prime minister, approved the plan to create a new body to facilitate funds to utilities companies expecting to pay nuclear…
Google’s advertising system is under investigation by the US Justice Department and it has put aside $500m to settle any potential charges, the Internet search engine revealed on its website on Wednesday. The charge decreased the net income to $1.8bn, or $5.51 per share for Q1, Google said in a filing with the SEC late…
