Tokyo - Sony Corp saw its net profit plunge 71.8 per cent in the second quarter as demand for consumer electronics slowed and the yen's value rose against other major currencies, the company said Wednesday.
The Japanese electronics company reported a net profit of 20.8 billion yen (219.84 million dollars) in the July-September quarter, compared to 73.7 billion yen a year before.
Operating profit also tumbled 90.1 per cent to 11 billion from 111.6 billion yen during the second quarter a year earlier, and sales dipped 0.5 per cent to 2.07 trillion yen from 2.08 trillion yen, the company said.
For the first half of the business year, which starts in April, Sony saw its net profit tumble 60.2 per cent year-on-year to 55.79 billion yen.
Seoul - Shares closed more than 3 per cent lower Wednesday on the Seoul stock exchange on rumors that South Korea may apply for bail-out funds by the International Monetary Fund (IMF). The South Korean authorities denied the market rumors.
Paris - The European Union is extending a loan of 6.5 billion euros (8.25 billion dollars) to Hungary to give the country added liquidity in the face of the economic crisis, French Finance Minister Christine Lagarde said on Wednesday.
Washington, October 29: A court in Los Angeles has granted Britney Spears’ attorney request to remain under permanent conservatorship until the singer recovers completely.
