Land of The Rising Sun: Sun Microsystems; US Auto Sales; Kirin; BOJ Statement
Sun Microsystems the world's fourth-largest maker of server computers, reported an unexpected Q3 net loss of $34 million
and said on it would cut 1,500 to 2,500 jobs in the face of U.S. economic weakness and delays in orders from some customers.
U.S. auto sales fell to their lowest annual rate in more than 15 years
as weak consumer confidence and rising gas prices hit the industry's most profitable vehicles hardest.
GM sales fell 23%, trucks -16%; Ford 19%, trucks -12%, and Chrysler nearly 30%, trucks 23%.
Asian competitors also struggled, with Toyota posting a 5% sales decline, and Nissan sales dropping almost 2%.
Kirin, Japan's largest beverage maker, reporting its first quarterly loss in four years
as profit declined 46% on rising material costs and lower sales at its soft-drink division.
The BOJ Bank of Japan yesterday reduced its growth forecast to 1.5% for the year started April from 2.1%.
And much like yesterdays FOMC statement which omitted the statement "downside risks to growth remain."...
In its semi-annual outlook, the central bank also omitted a reference to raising interest rates for the first time in two years. Sounds rather scripted to me.
and said on it would cut 1,500 to 2,500 jobs in the face of U.S. economic weakness and delays in orders from some customers.
U.S. auto sales fell to their lowest annual rate in more than 15 years
as weak consumer confidence and rising gas prices hit the industry's most profitable vehicles hardest.
GM sales fell 23%, trucks -16%; Ford 19%, trucks -12%, and Chrysler nearly 30%, trucks 23%.
Asian competitors also struggled, with Toyota posting a 5% sales decline, and Nissan sales dropping almost 2%.
Kirin, Japan's largest beverage maker, reporting its first quarterly loss in four years
as profit declined 46% on rising material costs and lower sales at its soft-drink division.
The BOJ Bank of Japan yesterday reduced its growth forecast to 1.5% for the year started April from 2.1%.
And much like yesterdays FOMC statement which omitted the statement "downside risks to growth remain."...
In its semi-annual outlook, the central bank also omitted a reference to raising interest rates for the first time in two years. Sounds rather scripted to me.
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