Struggling Sony's stock price drops
Sony's stock price has fallen below the 1,000 yen (€10.20) barrier for the first time since 1980. The electronics giant has struggled to turn around its money-losing TV business for eight years and has been battered by competitors such as Apple and Samsung. Sony's shares dipped to 990 yen yesterday before recovering slightly on the Tokyo market. The stock peaked at 16,950 yen in March 2000.
BP to press ahead with Russian sale
BP said yesterday it would press ahead and sell a stake in its Russian venture, dismissing a threat by its billionaire partners to block a deal that would help the Kremlin tighten its grip on the country's vast energy sector. The British oil major said last Friday it would pursue a sale after receiving expressions of interest in its one-half stake in TNK-BP, Russia's third-largest oil producer. Analysts say BP's shareholding is worth $30bn (€24bn). Sources familiar with the matter said BP had been approached by state energy holding company Rosneftegaz, which controls a stake of more than 75pc in Rosneft, Russia's largest oil firm.
BlackBerry maker hits nine-year low
Research In Motion fell to the lowest level since 2003, marking four days of declines since the struggling maker of the BlackBerry smartphone forecast a first-quarter operating loss and said it had hired banks to explore strategic options. RIM declined 5.9pc to $9.66 a share in New York, for the lowest price since December 22, 2003. RIM said on May 29 it would report a quarterly loss.
BoI offers new set of online products
Bank of Ireland has launched a new suite of on-line savings products. The new online 365 Regular Saver Account offers an interest rate of up to 3.5pc and can be opened in a matter of minutes. More than 2,000 accounts have already been opened. Damian Young, head of retail deposits, said the average Bank of Ireland saver now saved €350 per month. "We've seen a 10pc increase in the number of regular savers, with 3,300 accounts opened each month," he added.