by admin at Sunday, May 17, 2009 in Crisis,Financial
Tags:  electronic goods, Gaming sector, japanese conglomerates, loss in first quarter, recession, Sony

In the past 14 years, Sony has faced an annual net loss of 98.9 billion yen that amounts to about $1 billion. It has been projected by the company that it is going to face even more loss in the coming days as there is a noticeable decrease in user demand of electronic goods. The loss is so immense for the company that it has planned to close three plants in Japan this year so as to compensate for its loss.

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by admin at Thursday, September 25, 2008 in Crisis,Financial
Tags:  bail-out, Crisis, Financial, markets, US economy

The US President George W Bush urges Americans to support a massive bail-out of financial markets for easing financial crisis.

He said in a live TV speech that the entire US economy was in danger if the steps weren’t taken now, it would be much difficult to handle it afterward.

President Bush has invited John McCain and Barack Obama to the White House to discuss the $700bn rescue package. The two presidential rivals are not agreed on delaying a TV debate over the economic crisis.

According to McCain, he will suspend his election campaign to help with the crisis, while Mr. Obama believes that at that time the need to hear from the candidates is more than ever for the voters. Click here to read more »