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Panasonic (NYSE:PC) prepares to offload assets worth ¥110 billion before the end of March as it focuses on a turnaround plan that aims to earn group operating profit of at least ¥200 billion by March 2014. In addition to this ‘garage sale’ of non-core assets, Panasonic is also intending to cut an additional 10,000 jobs by end March to trim costs.
“Call of Duty: Black Ops II”, the new title from Activision Blizzard (NASDAQ:ATVI), sold over 1 million copies yesterday at videogame retailer GameStop (NYSE:GME), setting up to break sales records, even the one set last year by “Call of Duty: Modern Warfare 3.” Tony Bartel, president, said that, “’Black Ops II’ is shaping up to be our biggest game launch of all time.”
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Faults in the steering and water pump systems of some of its gasoline and hybrid vehicles lead Toyota (NYSE:TM) to recall about 2.77 million vehicles worldwide. The recall follows another one last month of 7.43 million vehicles relating to a flaw in power window switches and is a consequence of President Akio Toyoda’s emphasis on rebuilding Toyota’s reputation for quality. “Unless the defects turn out to be very complicated, the cost for the recalls shouldn’t affect their earnings too much,” says an analyst.
Retailer Wal-Mart (NYSE:WMT) launches its new Goodies Co box, a service that delivers tasting samples of new foods to subscribers’ homes for $7.00 per month and subscribers will receive gift boxes filled with 5 to 8 food samples. The Thanksgiving theme, for instance, includes wine biscuits, pumpkin soufflé mix and bars of quinoa infused with dark chocolate.
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