Sony Corp. lost $2.2 billion in market value today after Chief Executive Officer Kazuo Hirai cut his earnings forecast and posted a loss because of stalling demand for Bravia TVs, Cyber-shot cameras and Hollywood movies.
Sony Corp. President Kazuo Hirai is paying the price for trying to revive ailing TV and smartphone sales, with more than $2 billion of market value lost today, as his counterpart at Panasonic Corp. benefits from paring those units as it struggles to compete.
“Fast & Furious 6” was the top film at U.S. and Canadian theaters for a second weekend with $35.2 million in sales, topping “After Earth,” the new Will Smith- and-son movie from Sony Corp., which took in $27.5 million.
The Fancy, an online shop with items culled by customers, raised $53 million from investors including American Express Co., billionaire Len Blavatnik and actor Will Smith, people familiar with the matter said.
Six years ago, in an oft-told conversion tale, Scott Harrison stopped promoting hot New York nightclubs selling $350 bottles of vodka and soon found himself helping to fund water projects in the developing world.