Japan's Pioneer expects sixth year in red

Japan's Pioneer Corp. warned it would spend a sixth straight year in the red as it pulls the plug on its loss-making television business and slashes thousands of jobs.

Chip sales down 30 pct in March: SIA

Global semiconductor sales fell nearly 30 percent in March compared with a year ago but improved slightly over the previous month, the Semiconductor Industry Association (SIA) said Friday.

Japanese firms in talks on microchip merger

Renesas Technology Corp. and NEC Electronics Corp. are in merger talks to create Japan's top chipmaker as they seek to survive the global recession, reports said Thursday.

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Recession

In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.

Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.

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