Panasonic Corp revised its forecast for net losses in fiscal year ending in late March to a record 780 billion yen (10.2 billion dollars) – another Japanese company, which lowered their expectations after the floods in Thailand. In October Panasonic predicted that losses for the period will reach 420 billion yen. The projected result will probably be the worst in history, founded in Osaka in 1918 company. Worst loss of the Panasonic until amounted to 427.8 billion yen reported for the period March 2001 – March 2002. The largest manufacturer of plasma televisions in the world follow Sony Corp. and Sharp Corp. and also lowered its forecast for the period, citing slowing global economic growth and the damage inflicted by the Japanese manufacturers and suppliers from flooding in Thailand and the earthquake in Japan on March 11. Panasonic wrote off 290 billion yen from its commercial reputation and acquired Sanyo Electric Co. 250 billion yen.
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70% of companies with revenue of $ 1 billion or more plan to increase spending on initiatives related to climate change in the next two years, according to global study commissioned by Ernst & Young and said. Nearly half of 300 directors of companies surveyed said that their investments related to climate change will vary from 0.5% to over 5% of their revenues by 2012. 82% of respondents indicated that they plan to invest in energy efficiency over the next 12 months, while 92 percent believe that energy costs will be an important factor during this period. The heads of companies commit to taking action, although said that complying with different regulations in different countries will be a challenge. The fact that 70% of company bosses are planning to spend more for programs related to climate change is “one of the amazing discoveries, the study indicates Melanie Steiner of Ernst & Young. Despite regulatory uncertainty on climate change “companies really take action because they see that this is a business issue and opportunity to generate new revenue,” said Steiner. While action to tackle the consequences of climate change in the past been a question in the field of public relations today are able to make money through new services and products, savings through better efficiency and reducing the risk, she adds.
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Average 15 percent have decreased wages of CEOs of large U.S. groups last year, a study cited by the New York Times. According to data the average amount taken against bosses work during the year amounted to 9.53 million. The study included 200 businessmen who are CEOs of the company at least two years. Examined 199 companies (Motorola has two executive directors) and those with the highest revenue in the U.S. last year. With the highest salary in 2009 turned Lawrence Ellison, chief executive of Oracle and the sixth-richest man in the world according to the magazine Forbes. Money he received as salary and other bonuses during the year, a total of 84.5 million dollars. This is more than the sum of the salaries of two chiefs who rank second and third place in the rankings – Ray Elliott (Boston Scientific Corp) with 33.37 million and Ray Airan (Occidental Petroleum Corp) with 31.4 million dollars.
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Extractive companies and banks have brought a slight growth of Asian markets, after Australia & New Zealand Banking Group surprise their shareholders with news that will enter Taiwan, and metals prices rose. Meanwhile, companies in the residential sector of Japan and China are ranked among the losers, after local authorities in China have proceeded once again to restrict sales of land, while land prices in Japan reported its strongest decline for the past 36 years. The regional index MSCI Asia Pacific, which monitors stock markets in ten Asian countries, Australia and New Zealand, added 0.1 percent to 124.40 points during today’s session. Friday’s trading ended with significant decreases in most measures of national stock exchange in the region after the Indian central bank increased for the first time in the past two years its main interest rate as a step to combat rising inflation in the country. Most – by 0.7% to 3 053 points lower today Chinese broad index Shanghai Composite, followed by the index of blue chip Nikkei 225 in Japan, which slid 0.5 percent to 10 774 points. Of negative territory and closed stock trading in Taiwan, New Zealand and Sri Lanka. Meanwhile, the Australian index S & P / ASX 200 rose by 0.9 percent to 4 874.8 points, led by mining and financial companies. Shares of all major banks rose, with the most – by 3%, increase the price of shares of Australia & New Zealand Banking Group.
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The Companies listed in the London Stock Exchange (LSE), have gathered a record 82.5 billion pounds (nearly 91.7 billion) from investors in 2009, Air Force forward. By LSE indicate that despite ongoing concerns about the economy investors have benefited from the proposed shares. Total accumulated amount is 16 percent higher than in 2008, but the increase is mostly due to emission rights by the banks. In November, Lloyds Banking Group gained 13.5 billion pounds in the biggest rights issue in the world. The main market, which includes companies from the FTSE 100 index, were recruited over 50 billion pounds of emissions rights. In March, HSBC gained 12.5 billion pounds from its shareholders to avoid taking money from the government. Major programs to raise capital in place and Rio Tinto (7,3 billion pounds) and the company for construction of housing Barratt Developments (over 545 million pounds).
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