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Thursday 8 December 2016

Sony posts losses, says more to come

Electronics

Published 03/11/2011 | 05:00

Photo: Getty Images
Photo: Getty Images

SONY warned of a fourth straight year of losses, with its television unit alone set to lose $2.2bn on tumbling demand and a surging yen.

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Investors had expected Sony to reduce its profit forecast, but not flag massive losses.

The electronics maker said it may report a $1.1bn net loss for the current financial year.

Airport operator Hochtief sale stalls

Aviation

GERMAN company Hochtief's sale of its airport- operating business has stalled as concerns over the spreading sovereign-debt crisis weighed on suitors, said people familiar with the transaction.

While the talks with China's HNA Group and France's Vinci continue, the parties have hit roadblocks over the price, sources said.

Next beats forecast with online results

Retail

Next, the UK's second-largest clothing retailer, reported faster sales growth in the third quarter as the expansion of the Next Directory home-shopping unit outweighed worsening sales at the company's stores.

Shares rose to a record high after Next said total brand sales rose 3.3pc, beating analysts' expectations.

OpenHydro picked in cleantech awards

Renewable

IRISH renewable energy company OpenHydro has been picked by Global Cleantech Cluster Association as one of 30 finalists.

The Irish tidal energy company will be honoured at a dinner later this month.

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