Business News Archive - December 22, 2008

Japanese automaker Toyota, hit by falling overseas demand and a rising yen, said Monday it expects an operating loss in 2008, the first in its history. The loss in fiscal 2008 ending March is expected to be $1.67 billion, the company said, blaming shrinking global auto sales and the Japanese currency's appreciation, which makes its vehicles more expensive overseas. The announcement came on the same day when the Japanese government said the country saw a record fall of 26.7 percent in total November exports, leaving a trade deficit of $2.48 billion for the month. Toyota's estimate for this year compared with its record operating profit of $25.28 billion in the previous fiscal year, Kyodo reported. We are facing unprecedented emergency circumstances, Toyota President Katsuaki Watanabe told a news conference in Nagoya. Toyota expects a net profit of nearly $557 million in fiscal 2008 but that will be nearly 91 percent down from its previous estimate, the report said.

Lowers Guidance for 2008 Fourth Quarter, Provides Outlook for 2009 First Quarter NORTHVILLE, Mich., Dec.


FORT COLLINS, Colo., Dec. 22 /PRNewswire-FirstCall/ -- Advanced Energy Industries, Inc. (Nasdaq: AEIS) is pleased to announce its participation at the Needham Annual Growth Stock Conference on Tuesday, January 6, 2009, at the New York Palace Hotel in New York City. Lawrence D.

GONGYI, China, Dec. 22 /PRNewswire-Asia-FirstCall/ -- China Gengsheng Minerals, Inc.

VANCOUVER, Dec. 22 /PRNewswire-FirstCall/ - Vancouver-based Ritchie Bros. Auctioneers (NYSE and TSX: RBA) conducted its final unreserved auctions of 2008 last week and is pleased to announce a preliminary gross auction proceeds estimate of US$3.57 billion for the year.

Word of the Day
  • The horn of a unicorn considered as a medical or pharmacological ingredient.
  • A winged horse with a single horn on its head; a winged unicorn.
The word 'alicorn' comes from Italian alicorno, already associated with unicorns and reinterpreted, popularized by Bearing an Hourglass (1984) and other fantasy novels by Piers Anthony.