Changhong expects big 2004 loss
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Changhong, China&#39;s top television maker, said yesterday it expects to post a huge loss for the year 2004 after writing off debts from its US distributor as well as short-term investment losses.
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French superstore operator Carrefour SA warned Tuesday it will miss earnings and revenue targets for 2004 as a result of price-cutting campaigns and the &quot;worsening macroeconomic environment.
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Company posts big loss amid a variety of problems that are "self-induced." It also expects an operating loss for the current quarter, which includes the holiday selling season.
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The 2004 hurricane season is expected to be costly for insurers, with early estimates of $8bn (Â£4.5bn) of losses from just one of the storms that have hit the United States this year.
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Bank of China dismisses reports it is about to unveil massive losses stemming from problems in the US.
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The estimated $2 trillion to $4 trillion loss in real estate wealth could be more damaging to the public than falling stock values.
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The company said it expects to post its second quarterly loss in more than 50 years because of a hefty one-time charge.
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MONTREAL -- Despite a jump of 19% in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.
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Motorola Inc  on Wednesday forecast a loss for the current quarter, saying a recovery in its mobile devices business would take longer than expected.
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MONTREAL -- Despite a jump of 19 per cent in world air traffic so far this year, airlines are expected to lose as much as $4 billion US in 2004 due to high fuel costs, says the International Air Transport Association.
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BEIJING  - 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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Sichuan Changhong Electric, a leading Chinese television maker, is working on plans to recover part of a $467.5m debt it says it is owed by Apex Digital, a US electronics distributor.
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Allstate Corp said on Tuesday that catastrophe losses for October and November due to California wildfires and storms could run as high as $400 million -- and would hurt fourth quarter earnings.
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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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One yearâs winner can lose big in the next cycle.
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IBM's personal computer business racked up $965 million in losses between Jan. 1, 2001, and June 30, 2004, the company said last week in a filing to the U.S. Securities and Exchange Commission, detailing the planned sale of the business to China's Lenovo Group.
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High fuel prices and stiff fare  competition pushed American Airlines parent AMR Corp. AMR.N  on Wednesday to report a wider quarterly loss from a year ago  and it warned that 2005 was shaping up to be another tough  year.