Panasonic projects USD 9.6bn loss
The firm has been trying to restructure its business and said costs relating to that were expected to be almost 11 times more than previously estimated.
The sales have been hit by slowing demand for TVs and a strong yen accompanied by the continued uncertainty in the global economy over the Eurozone debt crisis and the slowdown in Asian economies.
At the same time, the dwindling domestic consumption of Japan has been a major challenge to the sales of many companies.
Japan has been fighting deflation for many years and the phenomenon has been a big hurdle in its attempts to boost domestic consumption.
While falling prices are good news for consumers, they are not so for the economy, as people tend to push back their purchases in the hope of getting a cheaper deal in the long run.
China has become the world’s second largest movie market, with box office revenues surging to USD 2.7bn in 2012. This
The Fair Trade Commission is looking at South Korean banks, Kookmin, Shinhan, Woori, and Hana for rigging rates of certificates