snapshots

June 28, 2008 - 0:0

Shares in Sony Corp fell 4 percent on Friday after investors focused more on unfavourable economic conditions than the company's new business plan that includes aggressive expansion in emerging markets. Sony said on Thursday it aimed to double revenues from the fast-growing markets of Brazil, Russia, India and China to 2 trillion yen ($18.7 billion) and invest 1.8 trillion yen in key businesses and technologies as part of a three-year strategy. (Reuters)

************************ The average price of a home in Britain has fallen by £8,000 over the past year, marking the longest and steepest decline in the property market since the crash of the early 1990s, the Nationwide Building Society said. (Guardian) **********************
Fuji Heavy Industries Ltd., which makes the Subaru brand of vehicles, said on Friday it had decided to sell 61 million treasury stocks that it owns to bigger rival Toyota Motor Corp. for 31.11 billion yen ($291.1 million), in order to enhance the capital and business partnership between the two companies. (Forbes)
*************** Bill Gates turns Microsoft Corp. over to the sole leadership of Steve Ballmer. There may have been better times for a handoff. While Ballmer has been chief executive officer since 2000, founder Gates's retirement as an active chairman will leave his college buddy alone in the spotlight and under increasing pressure to revive the shares. (Bloomberg)
*********************** The new Honda FCX Clarity, a zero-emissions hydrogen fuel cell-powered vehicle, has begun production at the world's first dedicated fuel cell vehicle manufacturing facility in Japan. The Clarity is powered by an electric motor that runs on energy generated in the new V Flow fuel cell platform. The vehicle has a range of 450 kilometres and emits only water. (Vancouver Sun)