UK Business News

Ian McKellen awarded freedom of the City of London for work on gay rights

Ian McKellen has been given the freedom of the City of London in recognition of his work for gay rights. The 'Lord Of The Rings' star is one of the founders of campaign group Stonewall UK and also ...
Jail inquiry begins after death of inmate at Maghaberry

Liam Mulhern from west Belfast was treated at the Co Antrim prison after collapsing on Monday.The 30-year-old was taken to Craigavon Area Hospital where he died on Thursday afternoon.Mr Mulhern had ...
Maximum fun in the city

For Nolan buffs seekinge the maximum experience, advance booking for Interstellar at Prasads Imax opens on Monday. For others,?Interstellar?will also release in regular ...
Can an insider clean up the City

Put another way, what some MPs on the influential Treasury Select Committee were suggesting is that you can't expect a poacher to shop his fellow poachers. But the Government stuck to ...
Suddenly Swiss banks are not being regulated gently. How they hate it

It isn't going down terribly well. The country's financial sector has been forced to reform some of its hallowed practices as a result of external pressure from America and the ...

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Movie Review

The War of the Roses [DVD]

The War of the Roses is narrated by Gavin D'Amato (Danny DeVito), a high-price lawyer who tells the story to a prospective client who wishes to begin divorce proceedings. Gavin's fee is $450 an hour, but he offers to tell this particular story off the clock. And, as he puts it, when someone who makes $450 an hour offers to tell a story for free, you better listen. The story Gavin tells is o ... ...

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Geopolitical risks shaking advertisers says Sir Martin Sorrell

WPP's founder Sir Martin Sorrell warned yesterday that the Ebola epidemic, the rise of Isis and unrest in Hong Kong are "grinding down" confidence among major advertisers. ...
Government to pay back Churchill’s WW1 debt

While the conflict's financial toll pales by comparison to the human cost - eloquently symbolised by the poppies carpeting the grounds of the Tower of London - the move is still ...
Banks on the rise as RBS bounces into black and regulator goes easy

Shares in Britain's banks surged yesterday as new rules on the cash they must hold as a proportion of loans turned out to be less onerous than feared and Royal Bank of Scotland ...
Government can benefit from businesss expertise – but clear focus is required

For John Manzoni, the BP veteran just appointed as chief executive of the Civil Service, it wasn't a happy beginning either.Health experts argued successfully to overturn a Cabinet ...
Dave Lewiss revolution is nothing more than what you’d expect from a Tesco boss

He simply could not understand why it had decided to try to spin its way out of trouble. He was referring to the weekend's press and a plethora of detail about Dave Lewis, the new ...
The Run or Dye Corpus Christi 5K run scheduled this month has not been authorized by the city.

CORPUS CHRISTI - The Run or Dye Corpus Christi 5K run scheduled this month has not been authorized by the city, a news release said. Viral Events, the Utah-based company coordinating the ...
Weekly Currency Market Analysis

? USD The US dollar, meanwhile, has enjoyed relatively little movement over the past week due to a mixed bag of data.The American asset has generally been trending lower, with futures traders paring ...
Lidl equals Waitrose in Christmas BBC Good Food taste test

BBC Good Food compared more than 240 festive treats from 11 supermarkets and both won three categories.Fellow discounter Aldi won two of the 30 gongs on offer across six categories, the same as ...
Ulster Bank to remain part of RBS Bank reveals operating profit of almost £400 million

Ulster Bank has reported an operating profit of almost ?400 million for the last quarter as it was revealed its parent company RBS will retain control of ...
Santander considers mortgages that last until death

Homeowners could be offered mortgages that last until death as a way of defusing the UK's interest-only mortgage time bomb. Santander confirmed it was considering offering homeowners ...

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Hotel Review

Le Meridien Noumea, New Caledonia

This deluxe hotel is reputedly the finest in New Caledonia. The drive from Tontouta international airport is 45 minutes and ...

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Sales grow but Sony posts loss in September quarter

TOKYO - Japanese consumer electronics giant Sony Corporation Friday reported a net loss of 136 billion yen ($1.2 billion) July-September quarter despite the company posting 1.9 trillion yen ($17.45 billion) or 7.2 percent increased sales on a yearly basis.

The sales revenue rose in large part due to strong PlayStation sales, strong performance of Sony's image sensor business and favorable impact of foreign exchange rates.

Sony sold 3.3 million PlayStation 4 consoles during the quarter, increasing its lead over rival Microsoft. The division producing image sensors earned $2.3 billion in revenue and posted an operating profit of $271 million due to higher demand of mobile phone cameras.

The increase in overseas sales was partially offset by a significant decrease in sales of mobile phones and the impact of its exit from the personal computer business.

Sony had a positive quarter three months ago but now it's back in the red.

The end result for the quarter is a consolidated operating loss of 85.6 billion yen ($785 million), compared to operating income of 13.9 billion yen ($124 million) in the same quarter of the previous fiscal year.

The "significant deterioration" is due to a hefty impairment charge of $1.6 billion due to the newly formed Mobile Communications segment, which was split off from the computer business.

This unit recorded a slight increase in sales but took a massive operating loss. Sony shipped 9.9 million smartphones this quarter, a minor drop compared to the 10 million in the corresponding quarter a year ago.

The company lowered its full-year prediction from 43 million to 41 million sales, still above the 39 million it sold in 2013.

In September the firm had warned that its annual loss might be substantially more than initially forecast. The company has now projected a full-year loss of 230 billion yen, as against previous estimates of 50 billion yen.

The electronics giant has been losing money due to competition in the smartphone sector from global rivals such as Apple and Samsung.

The company is planning to reduce its smartphone presence in China particularly, where it has been losing ground to domestic firms including Xiaomi.

Sony has also been struggling this year to turn around its television unit, which has been losing money due to competition from Asian rivals including Samsung Electronics.

The TV segment recorded $2.6 billion in sales and $73 million in operating profit (also recovering from a loss). A dropping average selling price was counted with a shift to higher-end models.

Two years ago, chief executive Kazuo Hirai promised to return Sony's underperforming electronics business to profit after the completion of the restructuring.

But earlier this year he forecast the firm would remain unprofitable until 2015.