Is Alcatel-Lucent (ALU) on track to recovery? It might seem a strange question to ask on a day when the Paris telecom gear maker posted a $6.2 billion loss for 2008 after writing off $6 billion in assets, and predicted it would make no operating profit in 2009. Yet the company's yearend results, announced on Feb. 4, offered some glimmers of hope after two years of unrelenting bad news.
$1.86 Change: -0.02 Open: 1.95 High: 1.96 Low: 1.81 Volume: 9,325,200
Panasonic set to cut 15,000 jobs
Japanese electronics group Panasonic is to cut 15,000 jobs and close 27 plants worldwide as it seeks to reduce costs.
The world's largest maker of plasma TVs said it expected a net loss of 380bn yen ($4.2bn, £2.9bn) for the financial year to 31 March.
The company has been hit by a stronger yen and falling sales amid the global economic downturn.
Also on Wednesday, Japanese carmaker Mitsubishi forecast its first annual loss for three years.
It said it expected a net loss of 60bn yen for the year to the end of March, compared with a profit of 34.7bn yen a year earlier.
Amid a slew of downbeat news, Casio Computer, a maker of cameras, digital watches and mobile phones, also cut its outlook for annual net profit to 1.5bn yen from 13.5bn yen, reporting a 87% drop in net income for the April-December period.
http://news.bbc.co.uk/1/hi/business/7868966.stm
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