What a way to start the Chinese New Year!
- US chipmaker Intel Corporation plans to close two of its three factories in Bayan Lepas, Penang.
- Honda Motor Co is cutting production in Japan and North America by an additional 50,000 vehicles amid a severe slump in global sales.
- Toyota Motor Corp is considering cutting more than 1,000 full-time jobs in North America and the United Kingdom to cope with faltering global demand
- BMW would reduce the working hours for some 26,000 German employees as part of efforts to slow production amid a deepening economic downturn.
- Farm equipment maker Deere & Co. will lay off nearly 700 workers between factories in Brazil and Iowa.
- Qimonda AG, a German unit of chipmaker Infineon Technologies AG is filed for bankruptcy.
- Nippon Steel Corp is cutting production by a record amount in its four-decade history as auto demand gets squelched by the global slowdown
- Sony tumbled 7 percent to their lowest level in a month
- Samsung Electronics, the world’s largest manufacturer of flat screen televisions, memory chips and liquid crystal displays, posted its first ever quarterly loss as the global economic slump hit prices and demand for mainstay products.
Nevertheless, Xin Nian Kuai Ler folks 
