Australia’s national carrier Qantas has posted an annual net loss of 2.6 billion dollars last year. The airliner on Thursday posted the full-year net loss of 2.64 billion US dollars in 2013-2014 in its worst performance. The figure is much worse than expectations as analysts initially predicted the company to report an underlying pre-tax loss of about 700 million dollars. Qantas’s international... 

A Japanese electronics manufacturer Panasonic showroom in Tokyo. Embattled Japanese consumer electronics giants Panasonic and Sharp have posted more than USD11 billion in combined losses over the nine-month period ending in December. On Friday, Sharp announced its losses had doubled in the nine months leading to December to USD4.6 billion. Panasonic, meanwhile, said it had lost about USD6.77 billion... 

Panasonic Corp., Japan’s second largest TV maker, saw its credit rating cut by two levels by Standard & Poor’s after it forecast a $9.5 bn loss 30 times bigger than analyst estimates. ­S&P said it has downgraded long-term debt to BBB, down from A-, as “huge losses for the second year in a row weaken the company’s financial profile and could further slow its recovery in the next... 

The worst of Superstorm Sandy may be over, but it’s left a trail of extensive – and expensive – devastation behind. Lost business and damages will cost up to $60 billion to fix, says forecasting firm HIS Global Insight. The costs include an estimated $20 billion in property damages and $10 billion to $30 billion in lost business, AP reports. What’s worse is that most homeowners will have to...