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Panasonic will lose $4.2 billion for its fiscal which ends in March. The company says its troubles will cause it to fire 15,000 people. This is the latest in a string of lay-offs by big Japanese companies including Sony...
...filling the post looks like a nod to his campaign promise of bipartisan governance. On Feb. 3, Obama reached across the aisle to tap Judd Gregg, a three-term GOP Senator from New Hampshire who, if confirmed, would be the third Republican in the Obama Cabinet. But Obama's latest olive branch is also a political calculation. While Gregg wielded significant power as the ranking member of the Senate Budget Committee, the Commerce Department is viewed as a Cabinet backwater-a notion bolstered by Gregg himself, who in 1995 supported a nonbinding resolution that would abolish the very department...
...latest chapter in the blood sport between the two executives is a report that Bank of America was aware of $5.8 billion in bonuses going B of A and Merrill employees. Lewis had hinted that he was a bit in the dark about the arrangement. (See pictures of the global financial crisis...
Often seen swathed in animal skins and surrounded by a posse of virgin female bodyguards, the colorful leader has become as well known for his unusual personality as for his controversial political moves, the latest of which included celebrating convicted Lockerbie bomber Abdel Basset Ali al-Megrahi's return to Libya. Never one to stray far from the limelight, Gaddafi marks his 40th year in power on Sept. 1 - a milestone that makes him the third longest serving head of state in the world after King Bhumibol Adulyadej of Thailand and Britain's Queen Elizabeth II. (See a gallery...
...PlayStation game machine, has stumbled in recent years. With demand for electronics collapsing as the world sinks into recession, the company finds itself increasingly adrift from its glory days, notwithstanding the Ichinomiya closure. Last week, Sony reported that it fell into the red in its latest quarter and repeated its forecast for an operating loss of $2.9 billion in the year ending March 31, its first such loss in 14 years...