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Thursday, January 29, 2009 12:01 AM PST

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Today's Business News: Sony's quarterly net profit tumbles 95 percent Gov't to report on jobless claims as layoffs rise Asian stocks gain after House passes stimulus bill Nintendo's 9-month profit falls on strong yen Toshiba posts net loss in third quarter Shell reports $2.81 billion loss in fourth quarter FTSE closes 2.4% higher Chip maker Qualcomm's 1Q profit plunges 56 percent Pa. joins mortgage-aid settlement with Countrywide H&M Q4 pretax tops consensus Sony's quarterly net profit tumbles 95 percent Wed, 28 Jan 2009 11:34 pm PST AP - Sony Corp. said Thursday its net profit plunged 95 percent in the October-December quarter from a year earlier as poor sales of TVs, digital cameras and mobile phones sent its core electronics division into the red. Full Story Top Gov't to report on jobless claims as layoffs rise Wed, 28 Jan 2009 11:36 pm PST AP - The government will provide a snapshot of the battered labor market Thursday when it reports how many people filed first-time claims for jobless benefits last week. Full Story Top Asian stocks gain after House passes stimulus bill Wed, 28 Jan 2009 09:22 pm PST AP - Asian markets advanced Thursday, with Hong Kong jumping more than 5 percent in a catch-up rally, as the U.S. House of Representatives approved a $819 billion stimulus bill that investors hope will help lift the American economy out of its worst crisis in decades. Full Story Top Nintendo's 9-month profit falls on strong yen Wed, 28 Jan 2009 11:50 pm PST AP - Nintendo Co. says its net profit for the April-December period fell 18 percent as a strong yen cut into strong demand for its gaming products, forcing the company to slash its full year forecast. Full Story Top Toshiba posts net loss in third quarter Wed, 28 Jan 2009 11:56 pm PST AP - Toshiba Corp. sank into the red in the third quarter and expects a loss for the full year as the global economic crisis sinks sales of digital products and home appliances. Full Story Top Shell reports $2.81 billion loss in fourth quarter Wed, 28 Jan 2009 11:57 pm PST AP - Royal Dutch Shell PLC, Europe's largest oil company, has reported a $2.81 billion net loss for the fourth quarter as the price of oil fell sharply and it wrote down the value of its inventory. Full Story Top FTSE closes 2.4% higher Wed, 28 Jan 2009 09:26 am PST AFP - London stocks surged on Wednesday, with the FTSE 100 gaining more than two percent on a strong performance by banks. Full Story Top Chip maker Qualcomm's 1Q profit plunges 56 percent Wed, 28 Jan 2009 09:31 pm PST AP - Chip maker Qualcomm Inc. slashed its forecasts for revenue and operating income Wednesday as it reported its fiscal first-quarter income plunged 56 percent. Full Story Top Pa. joins mortgage-aid settlement with Countrywide Wed, 28 Jan 2009 02:48 pm PST AP - Pennsylvania has joined a settlement with Countrywide Financial Corp. that makes available as much as $155 million to help keep thousands of state residents in their homes. Full Story Top H&M Q4 pretax tops consensus Wed, 28 Jan 2009 11:22 pm PST Reuters - Hennes & Mauritz, the world's third-biggest clothing retailer by sales, reported a bigger rise than expected in fourth-quarter pretax profit on Thursday but sales in December lagged forecasts. Full Story Top

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