Sanyo Elec now sees annual loss, unveils job cuts
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Struggling Japanese electronics maker  Sanyo Electric Co. said on Friday it now expects to fall into  the red this business year as it unveiled more job cuts amid  weak sales of digital cameras and mobile phones.
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Sanyo shares fell sharply after two customers said they would recall 1.3 million handset batteries that could overheat.
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Japan&#39;s ruling coalition is on course for defeat in critical elections this month, which could cost Prime Minister Shinzo Abe his job, a survey said Wednesday.
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STMicroelectronics NV  reported a quarterly loss compared with a year ago profit on Tuesday, citing about $906 million in impairment and restructuring charges.
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An electrical equipment manufacturer in Ebbw Vales says it could close with the loss of 215 jobs.
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SBC Communications  may shed more than 10,000 jobs from its workforce through the end of 2005 using attrition and involuntary cuts, the company said in a filing with U.S. market regulators on Friday.
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Japanese electronics maker Hitachi slashed its full-year profit forecast because of ballooning costs to repair nuclear reactors and slumping sales of some products, saying Friday it now expects to lose 55 billion yen this year, or about $467.3 million.
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The electronics company posts a big loss amid a variety of problems the company says are "self-induced." It also warns it expects an operating loss for the current quarter, which includes the rest of the holiday selling season.
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SBC Communications Inc. plans to cut at least 10,000 jobs, or 6 percent of its work force, by the end of next year to compensate for a drop in the number of local-telephone customers.
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Wal-Mart Stores Inc's  Japan unit,  Seiyu Ltd (8268.T), said on Tuesday that it likely lost twice  as much money last year as previously forecast due to slumping  sales and asset write-downs.
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DETROIT -- General Motors Corp. reported a $38.7 billion loss for 2007 on Tuesday, the largest annual loss ever for an automotive company, and said it is making a new round of buyback offers to U.S. hourly workers in hopes of replacing some of them with lower-paid help.
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For the period that ended Dec. 31, the company reported a loss of $16 million, or 11 cents a share, in contrast to a profit of $18 million, or 12 cents a share, in the period a year earlier.
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Samsung SDI Co. , the world's third-largest plasma display panel (PDP) maker, posted a worse-than-expected quarterly net loss on Friday, hurt by tumbling prices of its television screens.
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Troubled Japanese electronics  maker Sanyo Electric Co. said on Friday it would shoulder with  China's Lenovo Group the cost of recalling 205,000 Sanyo-made  laptop battery packs that can overheat.
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Japan unexpectedly cut its estimate for second-quarter economic growth to a 1.3 percent annual pace, the slowest in more than a year, as manufacturers slashed inventories.
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Shares in Japanese electronics group Sanyo sink on news that watchdogs are investigating its accounts.
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The company said fourth-quarter net profit fell 42 percent and announced it would cut 1,000 jobs as part of a cost-cutting strategy.