WORLD NEWS 231208

News From BLOOMBERG and MYSELF!!

JAPAN— Toyota Motor, the Japanese auto giant, announced Monday that it expected the first loss in 70 years in its core vehicle-making business, underscoring how the economic crisis is spreading across the global auto industry.

Analysts said Toyota’s downward revision, its second in two months, showed that the worst financial crisis since the Depression is threatening not just the Big Three but even relatively healthy automakers in Japan, South Korea and Europe. Many other companies will also soon be reporting losses.

On Monday, Toyota said it expected a loss during the fiscal year of 150 billion yen, or $1.7 billion, in its group operating revenue, the amount it earns from its auto operations. Toyota said that would be its first operating loss since 1938, a year after the company was founded. The loss would also be a huge reversal from the 2.3 trillion yen, or $28 billion, in operating profit Toyota earned last fiscal year. The company, which has been neck and neck with General Motors to be the world’s largest vehicle-maker, said it still expected to eke out a narrow net profit in the current fiscal year, which ends March 31.

U.S. stocks fell, erasing last week’s advance, as a deteriorating outlook for corporate earnings and real estate offset expectations that government efforts to revive the economy will succeed.

Monsanto Co. lost 7.5 percent after Goldman Sachs Group Inc. said the recession will hurt profit at the world’s largest producer of seeds. Walgreen Co., the second-biggest U.S. drugstore chain, sank 4.2 percent after posting the slowest sales growth in at least 18 years. MetLife Inc., the insurer invested in $36 billion worth of commercial mortgages, tumbled 12 percent as analysts said the number of U.S. non-residential properties at risk of default may triple.

Indonesia- Indonesia and China signed eight projects in the energy sectors of electricity, coal, and oil and gas. Signing RP35 trillion worth of projects is done today (22/12), witnessed by Vice President Jusuf Kalla and Deputy Prime Minister of China Li Keqiang on the sidelines of Indonesia-China Energy Forum (ICEF) to-3 in Jakarta.

Minister of Energy and Mineral Resources (ESDM) Yusgiantor Purnomo said, this forum is very important for Indonesia and China in the face of economic challenges in the future following the crisis in the global market berimbas fluctuations in commodity prices and exchange rates.

Purnomo added that the project will be the eighth digarap later can absorb labor at least 32 thousand people. Eighth project is the extension of the production is done in Block Madura Strait between BP Migas with CNOOC and Husky, Madura Ltd. in the Madura Strait, East Java, worth U.S. $ 642 million.

It can be worst FOR ASII, ASII core product is selling TOYOTA product. If TOYOTA falls it can be worst!! Do not buy ASII, till next year!!

Now OIL price is 39$, worst worst worst for MINING SECTOR, WATCH IT WILL BE UNDER 35$ AGAIN!!

My ADVICE SELL your stock and enjoy your HOLIDAY!!