Panasonic sees $5.5 billion annual loss, worst in a decade
TOKYO - Japanese electronics maker Panasonic Corp forecast an annual net loss of 420 billion yen ($5.5 billion), its biggest in a decade, as it cut unprofitable businesses deeper and faster than first planned, while battling a soaring yen and weak demand in the United States and Europe.
Lower investment income, catastrophe losses weigh on
- Loews Corp , run by the billionaire Tisch family, posted quarterly earnings below analysts' estimates for the third time in a row, hurt by a fall in its investment income and higher catastrophe losses at its biggest holding CNA Financial .
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Asia faces rocky road in securing energy needs
SINGAPORE - Governments in emerging Asian economies will struggle to secure their rising energy needs as rapidly swelling demand in leading consumers China and India outpaces growth in supplies, which is likely to keep oil prices over $100 a barrel.
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In the shadow of Olympus, Japan frets about its other scandal
TOKYO - The scandal engulfing Olympus Corp isn't the only corporate governance hot potato in Japan. Revelations by tissue maker Daio Paper Corp of management that had spun out of control is adding pressure on Olympus to bare all to an investigative panel it has promised to assuage investor angst.
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Euro area growth to slow sharply; debt crisis key: OECD
PARIS - The euro area is headed toward a sharp economic slowdown in 2012, with some countries set for negative growth, and failure to restore confidence in battered state finances could prompt a major contraction in developed countries, the OECD said on Monday.
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Wall Street futures fall; signal lower open for shares
NEW YORK - Stock index futures pointed to a weaker open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down by between 0.6 and 0.9 percent.
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Barclays profit up, investment bank pain continues
LONDON - Barclays Plc's underlying quarterly profit rose 5 percent from a year ago as lower charges for bad debt at the British bank offset a third consecutive sharp fall in investment banking revenue.
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Panasonic cuts annual outlook to worst loss in a decade
TOKYO - Japanese electronics maker Panasonic Corp slashed its annual outlook to a $5.5 billion net loss on Monday, its worst in a decade, as restructuring costs soared and weak demand in the United States and Europe eroded income.
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Honda withdraws annual guidance, Q2 profit tanks
TOKYO - Honda Motor Co withdrew its annual earnings guidance in an unusual move on Monday due to uncertainties including currency markets and Thailand's floods just as it was starting to recover from the March earthquake and tsunami.
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Analysis: ECB doomed to bigger crisis role despite itself
PARIS - Ask senior European Union policymakers in private what can stop the euro zone's festering sovereign debt crisis and the answer is "the European Central Bank."
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