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Electronics giant Philips posts 2011 losses

The Dutch global electronics giant Philips on Monday posted a 1.3 billion euro loss for 2011, and forecast a “cautious year” ahead as a result of world-wide economic uncertainty. The company, which had posted a net income of 1.4 billion euros ($1.8 billion) a year before, blamed the poor performance on writedowns and…

News Corp. profit up thanks to television business

SAN FRANCISCO — Scandal-battered media behemoth News Corp. on Wednesday reported a bumper end to the fiscal year with profits and revenue buoyed by its cable television business. News Corp. said net income for the recently-ended fourth fiscal quarter tallied $683 million and that it finished the year with profit…