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Fitch Downgrades Debt Ratings of Sony, Panasonic

Posted November 22nd, 2012 at 8:15 am (UTC-5)
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Financial ratings agency Fitch has downgraded technology giants Sony and Panasonic, marking another blow to Japan’s embattled electronics sector. The downgrades mean the firms’ debt is no longer considered a safe investment. The two companies, along with rival Sharp, accumulated billions of dollars in lost revenue last year, leading them to announce massive corporate overhauls […]

Tags: , , Posted in Economy

Report: Sony to cut 10,000 Jobs Worldwide

Posted April 9th, 2012 at 10:05 am (UTC-5)
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A leading Japanese newspaper says Sony is preparing to slash 10,000 jobs worldwide, as the consumer electronics giant attempts to carry out structural reforms aimed at restoring the company to profit. That figure represents 6-percent of Sony’s workforce. The Nikkei business daily, quoting unnamed sources, said Monday that as many as 5,000 job cuts will […]

Tags: , , Posted in East Asia Pacific, Economy

Sony Reports New Online Security Breach

Posted October 12th, 2011 at 2:40 am (UTC-5)
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Japanese entertainment giant Sony says it has detected a large number of unauthorized attempts to access user accounts on its online entertainment networks. The company says the attempts began Friday and lasted until Monday, with the intruders successfully accessing the sign-in IDs and passwords of 93,000 customer accounts. The attacks affected its PlayStation Network, Sony […]

Sony Restores PlayStation Network to Much of Wired World

Posted June 2nd, 2011 at 6:05 am (UTC-5)
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Japanese entertainment giant Sony says it will restore service Thursday to its popular online gaming service in the Americas, Europe and parts of Asia. The action comes more than a month after the service was shut down due to a cyberattack. Sony closed the global PlayStation Network on April 20 after hackers gained access to […]

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