Sony´s First loss in 14 years

23rd January 2009
Sony's first loss in 14 years
Words in the news © British Broadcasting Corporation 2009

One of the world's biggest electronic companies, Sony, is on course for its first annual loss in 14 years. The company blames the global economic downturn and the strength of the yen for a lesser demand for its products. Mariko Oi reports from Singapore:
The Japanese electronic giant Sony has slashed its annual earnings forecast again. It's
expected to report an annual operating loss of almost 3 billion dollars. The company had previously forecast a profit of 2 billion dollars.
If confirmed, this would be Sony's first loss in 14 years, the second only since the company was listed on the Tokyo stock exchange in 1958.
Like other Japanese exporters, Sony is taking a beating from the global slump. The yen's appreciation also means less profit - as the company gets 80 percent of its sales from overseas.
Mariko Oi, BBC News, Singapore

Vocabulary and definitions:

giant - a very large company or organisation
slashed its annual earning forecast - said it is no longer likely to make as much money out of its business during the coming year as it had previously expected
to report - here, to announce, to declare
listed on - admitted for trading/given licence to trade on
exporters - companies that sell their goods in other countries
is taking a beating - is suffering setbacks from, is negatively affected by
global slump - the economic slowdown that is affecting many countries
across the world
appreciation - an increase in value
overseas - abroad, other countries

Presidente Barack Obama first day

21st January 2009
Obama first day
Words in the news © British Broadcasting Corporation 200

President Obama is making his first efforts to act on his election promises. Today he meets his economic team; he is also promising to get together with his military advisers soon to make a plan to pull troops out of Iraq. Justin Webb reports:
Last July, then candidate Obama made a promise about Iraq. 'On my first day in office', he said, 'I will bring the Joint Chiefs of Staff in and I will give them a new mission, and that is to end the war responsibly and deliberately, but decisively'.
Since then something else hashappened of course - the world economy has collapsed, and politically it's now more important for him to be seen to be acting on the economy than on Iraq.
Nonetheless, both subjects will figure in his discussions today. This administration is promising action across the board, so a number of executive orders are likely to come soon.
Already last night the White House - in a memo signed by the new Chief of Staff ordered all the last-minute regulations signed by President Bush to be put on hold.
But it is the economy that will dominate the early days of this administration - and on which Mr Obama knows he will be judged.

Justin Webb, BBC News, Washington

Vocabulary and definitions:

responsibly - while being in control and having good judgement,enabling/allowing you to take correct actions

deliberately - with a clear intent, purposefully

decisively - without hesitation/dithering

collapsed - unexpectedly and seriously failed

to be seen to be acting on - that people see him taking measures to improve

figure in - the topics of

across the board - in all areas of political, economic and social life

to be put on hold - to stop being introduced or enforced

dominate - be the main focus of his attention in

he will be judged - people will form their opinions about him