Electronics giant Sony has reported its first annual loss in 14 years, after being hit by a big drop in sales.
Sony reported a loss of 98.9bn yen ($1.04bn; £685m) for the year to the end of March, compared with a profit of 369.4bn yen the previous year.
The company blamed the global downturn and the strong yen for the loss. Worldwide sales were down 12.9%.
It had previously announced it would be cutting 8,000 of its 185,000 workforce and closing 10% of its factories.
However, the loss was not as bad as Sony had expected. It had forecast a loss of 150bn yen back in January.
Sony's shares closed down 6.8% at 2,400 yen ahead of the results
Several Japanese companies have said they have been hurt by the strong yen, which make exports more expensive.
On Tuesday, Hitachi announced an annual loss of 787.3bn yen - a record for a Japanese manufacturer.
'Gradual recovery'
Sony, which makes PlayStation games consoles and Vaio PCs, forecast a net loss for the current financial year of 120bn yen.
And it said it would carry on with its restructuring programme of closing plants and cutting jobs.
Analysts greeted Sony's results with cautious optimism.
"Their outlook gave me the impression that their business is heading for a gradual recovery," said Fujio Ando, senior managing director at Chibagin Asset Management.
"But it would all depend on whether they would be able to start producing popular products, because right now they have no 'Number One' products."
Nintendo rivalry
Sales of the PS3 console rose from nine million units to 10 million
Sony has had to battle with the popularity of rival Nintendo's Wii console.
Sales in Sony's gaming division were down 18%, largely thanks to the falling popularity of its older PlayStation 2.
Sales of the PS2 console fell from 13.66m units the previous year to 7.91m, while sales of software for the PS2 decreased from 154m units to 83.5m.
The decline in PS2 sales outweighed a rise in sales of the newer and more powerful PS3.
In March, the PS3 outsold the Nintendo Wii in Japan for the first time in 16 months. However experts saw this as a temporary blip rather than a sign of the Wii's decline.
Earlier this month Nintendo said it made an annual profit of 279.1bn yen.
Management shake-up
Sony's president Ryoji Chubachi stepped down in April as part of a managerial reshuffle at the group.
Mr Chubachi had overseen Sony's electronics sector which is at the heart of the firm's woes.
Chairman and chief executive Howard Stringer took on the role of president.
Since then, Sony's shares have gained 43%.
Nobuo Kurahashi, an analyst at Mizuho Investors Securities called the move "a positive sign of how Sony is frantically moving forward toward change".
Mr Stringer, who was born in Wales but is a US citizen, is the first non-Japanese boss of Sony.
He has also promoted three relatively young executives to his managerial team under the reorganisation
Thursday, May 14, 2009
Astronauts make Hubble repairs
Two shuttle astronauts have completed the first of five spacewalks to repair and upgrade the Hubble Space Telescope.
John Grunsfeld and Drew Feustel spent almost seven hours working on the observatory, and achieved all of their primary objectives.
Chief among these was the installation of a new instrument, the Wide Field Camera 3, which will allow Hubble to see deeper into space than ever before.
They also exchanged a data processing computer that failed last year.
The break-down had left Hubble with no back-up for the unit it currently uses to route all its wonderful images to Earth.
The replacement passed its initial connection tests with flying colours, ensuring Hubble now has full redundancy for its data processing tasks.
Other work included fixing a mechanism that will enable a robotic spacecraft to capture Hubble at some future date. This should ensure there is a safe means to de-orbit the observatory at the end of its life.
Thursday's spacewalk was not without incident. Before the astronauts could install the Wide Field Camera 3, they had to remove the existing Wide Field Planetary Camera 2. This took some time when a bolt refused to come loose as expected.
The spacewalkers tried a number of different tools; but when they failed to move the bolt also, mission control authorised the astronauts to use as much force as possible.
It was an anxious moment, because had the bolt broken the old camera would have been stuck in place and the new instrument would have had to return to Earth.
"OK, here we go," Feustel said as he forced the bolt. "I think I've got it. It turned. It definitely turned." And then he said: "Woo-hoo, it's moving out!"
Space shuttle Atlantis met up with Hubble on Wednesday while both were circling the Earth some 560km (350 miles) above the ground.
Atlantis' robotic arm was used to grab hold of Hubble. The telescope was pulled down on to a bench that can turn and tilt to give the spacewalking astronauts easy access to its system bays.
The shuttle launched from Florida's Kennedy Space Center on Monday. It is due to return to Earth on Friday of next week.
John Grunsfeld and Drew Feustel spent almost seven hours working on the observatory, and achieved all of their primary objectives.
Chief among these was the installation of a new instrument, the Wide Field Camera 3, which will allow Hubble to see deeper into space than ever before.
They also exchanged a data processing computer that failed last year.
The break-down had left Hubble with no back-up for the unit it currently uses to route all its wonderful images to Earth.
The replacement passed its initial connection tests with flying colours, ensuring Hubble now has full redundancy for its data processing tasks.
Other work included fixing a mechanism that will enable a robotic spacecraft to capture Hubble at some future date. This should ensure there is a safe means to de-orbit the observatory at the end of its life.
Thursday's spacewalk was not without incident. Before the astronauts could install the Wide Field Camera 3, they had to remove the existing Wide Field Planetary Camera 2. This took some time when a bolt refused to come loose as expected.
The spacewalkers tried a number of different tools; but when they failed to move the bolt also, mission control authorised the astronauts to use as much force as possible.
It was an anxious moment, because had the bolt broken the old camera would have been stuck in place and the new instrument would have had to return to Earth.
"OK, here we go," Feustel said as he forced the bolt. "I think I've got it. It turned. It definitely turned." And then he said: "Woo-hoo, it's moving out!"
Space shuttle Atlantis met up with Hubble on Wednesday while both were circling the Earth some 560km (350 miles) above the ground.
Atlantis' robotic arm was used to grab hold of Hubble. The telescope was pulled down on to a bench that can turn and tilt to give the spacewalking astronauts easy access to its system bays.
The shuttle launched from Florida's Kennedy Space Center on Monday. It is due to return to Earth on Friday of next week.
Fears of Sri Lanka 'catastrophe'
The Red Cross says its staff in Sri Lanka are witnessing an "unimaginable humanitarian catastrophe" in the area where troops have trapped Tamil Tigers.
The agency says a ferry loaded with aid has been unable to reach the battered north-eastern coastal strip for three days because of fighting.
There are also reports that staff have quit the last hospital in the war zone.
A senior UN envoy is on his way to Sri Lanka to try "to help resolve the humanitarian situation", the UN says.
Vijay Nambiar, Secretary General Ban Ki-moon's chief of staff, is expected to arrive on Friday.
Last month Mr Nambiar met Sri Lankan President Mahinda Rajapaksa but failed to secure access to the war zone for humanitarian teams.
See a map of the conflict region
The UN says about 50,000 civilians are trapped in the war zone, although Colombo disputes this figure.
The government has rejected international calls to stop its offensive against the Tamil Tiger rebels, saying it would give them time to recover. Now that it has trapped the Tamil Tigers, it hopes to soon end the 25-year-old civil war.
The International Committee of the Red Cross (ICRC) said its chartered ferry, the Green Ocean, had been unable to deliver aid or evacuate the wounded for three days.
"Our staff are witnessing an unimaginable humanitarian catastrophe," said ICRC director of operations Pierre Krahenbuhl, based in Geneva.
"Despite high-level assurances, the lack of security on the ground means that our sea operations continue to be stalled, and this is unacceptable," he said.
"People are left to their own devices."
The ICRC says it requires security and unimpeded access to the area immediately.
In a statement, it said another aid ship, from the World Food Programme, was also waiting to deliver supplies to the war zone.
Hospital abandoned
The BBC's Charles Haviland in Sri Lanka says there are also unverified reports that medical staff have abandoned the main hospital in the rebel-held area because of persistent shelling.
One report said that about 400 badly wounded patients had been left behind, along with more than 100 bodies awaiting burial.
Dozens of civilians have been reported killed in artillery attacks on the facility in recent days.
Earlier on Thursday, a military spokesman told the BBC that unmanned aircraft had filmed more than 2,000 people wading across the lagoon which borders the fighting zone on the non-seaward side.
Brig Udaya Nanayakkara said the civilians had braved rebel fire to reach government-held areas.
"There is a large number of people crossing, and the (rebels) fired at them. Four people were killed, 14 were wounded," he said.
The Sri Lankan army's version of events cannot be independently verified and there has been no comment from the rebels.
The authorities and the rebels blame each other for civilian deaths.
'Shock'
As the fighting continued, Britain said on Thursday that it supported an early inquiry into whether war crimes have been committed in Sri Lanka.
"We would support an early investigation into all incidents that may have resulted in civilian casualties," said junior foreign minister Bill Rammell.
He said the UN's estimate of more than 6,500 civilian deaths since January was - if accurate - "truly shocking and appalling".
The UK-based charity Save the Children said on Thursday that a growing number of children were becoming separated from their families as they fled the war zone and entered government-controlled camps.
"The camps are chaotic," said spokesman Branko Golubovic.
"These children are coming out of combat areas where they have been severely traumatised only to find themselves in yet another harsh environment in the camps."
Nearly 200,000 civilians are believed to be living in the government's overcrowded displacement camps.
The agency says a ferry loaded with aid has been unable to reach the battered north-eastern coastal strip for three days because of fighting.
There are also reports that staff have quit the last hospital in the war zone.
A senior UN envoy is on his way to Sri Lanka to try "to help resolve the humanitarian situation", the UN says.
Vijay Nambiar, Secretary General Ban Ki-moon's chief of staff, is expected to arrive on Friday.
Last month Mr Nambiar met Sri Lankan President Mahinda Rajapaksa but failed to secure access to the war zone for humanitarian teams.
See a map of the conflict region
The UN says about 50,000 civilians are trapped in the war zone, although Colombo disputes this figure.
The government has rejected international calls to stop its offensive against the Tamil Tiger rebels, saying it would give them time to recover. Now that it has trapped the Tamil Tigers, it hopes to soon end the 25-year-old civil war.
The International Committee of the Red Cross (ICRC) said its chartered ferry, the Green Ocean, had been unable to deliver aid or evacuate the wounded for three days.
"Our staff are witnessing an unimaginable humanitarian catastrophe," said ICRC director of operations Pierre Krahenbuhl, based in Geneva.
"Despite high-level assurances, the lack of security on the ground means that our sea operations continue to be stalled, and this is unacceptable," he said.
"People are left to their own devices."
The ICRC says it requires security and unimpeded access to the area immediately.
In a statement, it said another aid ship, from the World Food Programme, was also waiting to deliver supplies to the war zone.
Hospital abandoned
The BBC's Charles Haviland in Sri Lanka says there are also unverified reports that medical staff have abandoned the main hospital in the rebel-held area because of persistent shelling.
One report said that about 400 badly wounded patients had been left behind, along with more than 100 bodies awaiting burial.
Dozens of civilians have been reported killed in artillery attacks on the facility in recent days.
Earlier on Thursday, a military spokesman told the BBC that unmanned aircraft had filmed more than 2,000 people wading across the lagoon which borders the fighting zone on the non-seaward side.
Brig Udaya Nanayakkara said the civilians had braved rebel fire to reach government-held areas.
"There is a large number of people crossing, and the (rebels) fired at them. Four people were killed, 14 were wounded," he said.
The Sri Lankan army's version of events cannot be independently verified and there has been no comment from the rebels.
The authorities and the rebels blame each other for civilian deaths.
'Shock'
As the fighting continued, Britain said on Thursday that it supported an early inquiry into whether war crimes have been committed in Sri Lanka.
"We would support an early investigation into all incidents that may have resulted in civilian casualties," said junior foreign minister Bill Rammell.
He said the UN's estimate of more than 6,500 civilian deaths since January was - if accurate - "truly shocking and appalling".
The UK-based charity Save the Children said on Thursday that a growing number of children were becoming separated from their families as they fled the war zone and entered government-controlled camps.
"The camps are chaotic," said spokesman Branko Golubovic.
"These children are coming out of combat areas where they have been severely traumatised only to find themselves in yet another harsh environment in the camps."
Nearly 200,000 civilians are believed to be living in the government's overcrowded displacement camps.
Wednesday, May 13, 2009
Contest is over, the bonding begins
The fifth and final phase of the elections to the 15 th Lok Sabha ended on Wednesday, with 62 per cent of the 71.4 crore voters turning out — the highest in the five phases.
The fifth phase saw elections to 86 constituencies across nine states and two union territories, including 39 seats in Tamil Nadu.
The highest polling was recorded in West Bengal, while the lowest was in Barmulla constituency in Jammu and Kashmir. Unlike earlier phases, polling in West Bengal went off peacefully.
The prominent candidates in Wednesday’s round included Home Minister P. Chidambaram, the DMK’s T.R. Baalu, Dayanidhi Maran and M.K. Azhagiri, the Congress' Mohammad Azharuddin, the Bharatiya Janata Party’s Maneka and Varun Gandhi, the MDMK's Vaiko and the Samajwadi Party's Jayaprada.
In all, 8,070 candidates contested for the 543 seats in the elections and votes would be counted on May 16 in 1,080 centres all over India, Chief Election Commissioner Navin Chawla said, adding, “Results could be expected by Saturday evening.”
Wednesday’s polling was peaceful in all the states, barring a few incidents of violence in West Bangal, Punjab and Tamil Nadu.
But Chawla said altogether 37 people were killed in the staggered polls, including 23 in poll-related violence. Fourteen people lost their lives because of accidents and health problems.
In Tamil Nadu, where all the 39 constituencies went for the polls, the day was peaceful, with a 61 per cent turnout. Uttar Pradesh recorded a 52 per cent turnout in 14 constituencies.
While Punjab had a 62 per cent turnout amid a few clashes between rival political groups, Uttarakhand was peaceful with a 50 to 55 per cent turnout.
Polling was disrupted at a polling station in Sopore in Baramulla parliamentary constituency, 55 km from Srinagar, after locals pelted stones at the booth, set ablaze a vehicle and staged dharna on the Sopore-Kupwara Road.
The fifth phase saw elections to 86 constituencies across nine states and two union territories, including 39 seats in Tamil Nadu.
The highest polling was recorded in West Bengal, while the lowest was in Barmulla constituency in Jammu and Kashmir. Unlike earlier phases, polling in West Bengal went off peacefully.
The prominent candidates in Wednesday’s round included Home Minister P. Chidambaram, the DMK’s T.R. Baalu, Dayanidhi Maran and M.K. Azhagiri, the Congress' Mohammad Azharuddin, the Bharatiya Janata Party’s Maneka and Varun Gandhi, the MDMK's Vaiko and the Samajwadi Party's Jayaprada.
In all, 8,070 candidates contested for the 543 seats in the elections and votes would be counted on May 16 in 1,080 centres all over India, Chief Election Commissioner Navin Chawla said, adding, “Results could be expected by Saturday evening.”
Wednesday’s polling was peaceful in all the states, barring a few incidents of violence in West Bangal, Punjab and Tamil Nadu.
But Chawla said altogether 37 people were killed in the staggered polls, including 23 in poll-related violence. Fourteen people lost their lives because of accidents and health problems.
In Tamil Nadu, where all the 39 constituencies went for the polls, the day was peaceful, with a 61 per cent turnout. Uttar Pradesh recorded a 52 per cent turnout in 14 constituencies.
While Punjab had a 62 per cent turnout amid a few clashes between rival political groups, Uttarakhand was peaceful with a 50 to 55 per cent turnout.
Polling was disrupted at a polling station in Sopore in Baramulla parliamentary constituency, 55 km from Srinagar, after locals pelted stones at the booth, set ablaze a vehicle and staged dharna on the Sopore-Kupwara Road.
Swine flu caused by human error?
The World Health Organisation (WHO) is investigating a claim by a researcher who said the swine flu virus may have been created as a result of human error.
Swine flu — officially called influenza A H1N1 — has infected 5,728 people and killed 61 in 33 countries.
Australian researcher Adrian Gibbs, 75, claimed the strain may have accidentally evolved in the eggs scientists use to grow viruses and make vaccines.
“One of the simplest explanations is that it’s a laboratory escape,” he told Bloomberg TV. “But there are lots of others.”
Gibbs was part of the research team that developed the anti-flu drug Tamiflu.
He said it could be a mistake that occurred at a vaccine production facility or the virus could have jumped from a pig to another mammal or a bird before reaching humans.
Gibbs, who reached this conclusion by analysing the virus’ genetic blueprint, has sent his study to the WHO for review.
By identifying the source, scientists can better understand the virus’ potential for causing outbreaks and also have better safeguards for bio-security in laboratories.
The US Centers for Disease Control and Prevention in Atlanta dismissed the report, saying there is no evidence to support Gibbs’s conclusion.
India is so far free of swine flu. Over 4.55 lakh passengers travelling from affected countries to India have been screened. Tests for the virus on 46 of them came back negative.
Swine flu — officially called influenza A H1N1 — has infected 5,728 people and killed 61 in 33 countries.
Australian researcher Adrian Gibbs, 75, claimed the strain may have accidentally evolved in the eggs scientists use to grow viruses and make vaccines.
“One of the simplest explanations is that it’s a laboratory escape,” he told Bloomberg TV. “But there are lots of others.”
Gibbs was part of the research team that developed the anti-flu drug Tamiflu.
He said it could be a mistake that occurred at a vaccine production facility or the virus could have jumped from a pig to another mammal or a bird before reaching humans.
Gibbs, who reached this conclusion by analysing the virus’ genetic blueprint, has sent his study to the WHO for review.
By identifying the source, scientists can better understand the virus’ potential for causing outbreaks and also have better safeguards for bio-security in laboratories.
The US Centers for Disease Control and Prevention in Atlanta dismissed the report, saying there is no evidence to support Gibbs’s conclusion.
India is so far free of swine flu. Over 4.55 lakh passengers travelling from affected countries to India have been screened. Tests for the virus on 46 of them came back negative.
Pollsters 2004 bitten, 2009 shy?
Even as the exit polls for the Lok Sabha elections trickled in Wednesday evening predicting a hung parliament, one has to keep in mind that they had all gone woefully wrong in the 2004 electoral battle predicting exactly the opposite of the outcome.
As many as five leading TV channels had then predicted in the previous elections that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) would bag 230 to 278 seats and gave the Congress and its allies 171 to 205 seats.
The results, which led to the formation of the Congress-led United Progressive Alliance (UPA) government, shocked the pollsters, the winners and the losers alike.
The UPA walked away with 275 seats and the NDA finished at 185. The Congress became the single largest party with 145 seats while the BJP got 138 seats.
The exit polls 2009 appear more realistic with the pollsters predicting a close fight between the two main alliances with the Third Front partners, including the Left parties, likely to play kingmakers
As many as five leading TV channels had then predicted in the previous elections that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) would bag 230 to 278 seats and gave the Congress and its allies 171 to 205 seats.
The results, which led to the formation of the Congress-led United Progressive Alliance (UPA) government, shocked the pollsters, the winners and the losers alike.
The UPA walked away with 275 seats and the NDA finished at 185. The Congress became the single largest party with 145 seats while the BJP got 138 seats.
The exit polls 2009 appear more realistic with the pollsters predicting a close fight between the two main alliances with the Third Front partners, including the Left parties, likely to play kingmakers
Electronic-waste recycling: The cup runneth over
Leave it to Oregon. The state where recycling is practically an article of religion is having headaches with its new electronic recycling law: Way too many old TVs, computers and monitors have flooded in since the law took effect in January.
Mind you, it's a problem the state doesn't mind having. The more the better, state officials say. But the biggest manufacturers group participating in the program, the Electronic Manufacturers Recycling Management Co., or MRM, wants to call a bit of a time-out.
Warning that e-waste will substantially exceed its state-mandated target if the stuff keeps coming in at the current rate, MRM said it will limit collections to designated network collection sites and won't reimburse for e-waste collected at special events organized by neighborhoods, church groups or county cleanup events. In addition, the company is asking collectors to limit their promotions for e-waste recycling to signs designed by the Department of Environmental Quality.
Oregon has one of the most user-friendly e-waste programs in the country. Individuals can bring in up to seven items free of charge, while schools and businesses can bring in any number. Every county, and every city with more than 10,000 people, has a convenient collection site.
Mind you, it's a problem the state doesn't mind having. The more the better, state officials say. But the biggest manufacturers group participating in the program, the Electronic Manufacturers Recycling Management Co., or MRM, wants to call a bit of a time-out.
Warning that e-waste will substantially exceed its state-mandated target if the stuff keeps coming in at the current rate, MRM said it will limit collections to designated network collection sites and won't reimburse for e-waste collected at special events organized by neighborhoods, church groups or county cleanup events. In addition, the company is asking collectors to limit their promotions for e-waste recycling to signs designed by the Department of Environmental Quality.
Oregon has one of the most user-friendly e-waste programs in the country. Individuals can bring in up to seven items free of charge, while schools and businesses can bring in any number. Every county, and every city with more than 10,000 people, has a convenient collection site.
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