Japanese electronics giant Panasonic has announced that the company is likely to post an annual net loss of 420 billion yen (US$5.5 billion) for the fiscal year ending March 2012 – with rising restructuring costs for its television and semiconductor businesses, coupled with a weak demand for its products overseas due to a strong yen, to blame for what will be its biggest annual loss in a decade.
A quick preview of the key economic events for the upcoming week:
Monday, 31 October
The World Wind Energy Conference and Renewable Energy Exhibition begins in Cairo. Speakers will focus on the latest developments in wind power and how to advance it in the Middle East and elsewhere.
Related: Blowing in the wind: Europe’s energy debate has stalled
Tuesday, 1 November
The effective tax rate paid by FTSE-100 companies has dropped to 26% compared to 35.8% just two years ago, while firms have seen profits increase.
According to research conducted by accountancy firm UHY Hacker Young, Britain’s FTSE-100 companies have reduced their tax rates by almost a third in the last two years, a consequence partly due to the reduction in headline corporate tax rates in the UK.
Germany received an unexpected bonus to its coffers last Friday after the Finance Ministry discovered an accounting error at the state-owned Hypo Real Estate (HRE) bank, which now means that the country is 55 billion euros (US$78.7 billion) richer than previously thought.
“Apparently it was due to sums incorrectly entered twice,” said a ministry spokesman to Reuters, adding that the reasons for the error was still unclear.
The Sudanese government has handed out 50 more gold exploration licenses to 73 firms, that it hopes will increase the country’s gold production capabilities, said the state news agency SUNA on Sunday, as quoted by Reuters.
Hundreds of small business owners in an eastern town in China have protested over a tax dispute, in the latest episode of social unrest resulting from growing discontent and economic pressure.
According to a report by the Huzhou Online, a state controlled news portal in the city of Huzhou, Zhejiang, the protests started after a migrant business owner refused to pay taxes and gathered a group to attack a tax collector.
Bourses worldwide have surged following the European debt breakthrough, but economists warn that the deal falls short of a permanent solution.
The markets are clearly relieved after the good news from Europe.
Related: EU confirms 1 trillion euros bailout fund, 50% Greek writedown
LinkedIn, the world’s largest professional network with more than 120 million members worldwide, recently released the findings of a study it conducted to learn more about women and their attitudes toward mentoring.
The survey results were unveiled during the Pennsylvania Conference for Women, the largest women’s conference in the state with more than 5,000 attendees.
For most students entering college, deciding on a course of study and a major is often a difficult decision. There are many factors to consider including personal interest, societal pressures, and of course, future career and life prospects.
After marathon talks and emergency meetings, the European Union has finalized a deal that is set to contain the growing debt crisis.
Following a series of emergency meetings and crisis talks, Europe’s leaders have unveiled the latest “grand plan” that would finally fix the mess.
