Leading Chinese TV Exporter Has Huge Loss
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China's biggest television exporter announced losses stemming in part from declining sales and a scandal involving its biggest U.S. customer.
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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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Gemstar-TV Guide International Inc. posted a much wider third-quarter net loss as it wrote off the remaining goodwill on the TV Guide magazine business.
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LOS ANGELES (Dow Jones)--Gemstar-TV Guide International Inc. (GMST) posted a sharply wider third-quarter loss weighed down by a large impairment charge related to its TV Guide business.
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The business racked up nearly &#36;1 billion in losses since 2001.
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SHANGHAI: Changhong, China&#39;s preeminent television maker, said yesterdays it expected to post a &quot;relatively big loss&quot; for 2004 after writing off debt and incurring short-term investment losses.
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DirecTV Group, the largest satellite television programmer, has said that its loss widened considerably in the third quarter because of a one-time charge to write down the value of two satellites.
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Media giant Gemstar-TV Guide International Inc. said Tuesday that its third-quarter loss ballooned, primarily because of a devaluation of its TV Guide magazine.
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Leading Chinese television manufacturer Sichuan Changhong Electric Co. said Tuesday it will post large losses in 2004 due to unpaid accounts arising from antidumping duties imposed by the United States.
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Samsung SDI Co. (006400.KS), the world&#39;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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Ebay, the world's biggest online auctioneer, is to close its primary China site and form a new partnership with Beijing based, Tom Online, according to news reports. Ebay is expected to pay $40 million for a 49% stake in the venture.
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The Chinese stock is hurt by the rate hike and a mobile suspension.
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The tale of China's biggest exporter of televisions to the United States seemed to take a new turnwith the abrupt dismissal of the Communist Party boss of the company's hometown.
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The company said its quarterly loss ballooned to $302.6 million as it struggled with its mortgage lending arm and said it is trying to renegotiate the sale of the unit.
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SARVAR, Hungary --  Wu Yongliang arrived in April with a suitcase full of instant noodles, a bad case of jet lag and a mind overwhelmed by his mission -- to somehow turn Hisense, a Chinese television-maker still owned by the Communist Party government, into a brand as recognized as Samsung or Sony.
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Wheat exporter AWB has clinched the biggest sale to China in more than a decade. AWB will supply 1.5 million tonnes of wheat, a sale it values at around $200 million.
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Sportswear retailer suffers another damaging blow.