Timothy Geithner

Sony, set to make its first annual loss in 14 years, has reported a quarterly loss as weak sales of goods and a stronger yen have taken their toll.
The firm reported an operating loss of 18bn yen ($200m; £141m) for the October to December third quarter, down from 236.22bn yen profit a year before.
It comes as Toshiba expects to make an annual loss as demand wanes for flat screen televisions and semiconductors.

Meanwhile Nintendo's profits are up but it has cut its yearly profit forecast.

Unconventional games
The video games maker reported a 27% increase in April to December operating profit, to 501bn yen, thanks to strong demand for its Wii games console and DS handheld.
The two devices have been sold as unconventional games which improve fitness or mental agility.

However, like Sony, it said the stronger yen was taking its toll, and lowered its annual operating profit forecast to 530 billion yen from 630bn yen.
A stronger yen makes Japanese products less competitive and cuts into the value of overseas earnings.
Nintendo said its performance had been "adversely impacted by a large exchange loss due to the sharp appreciation of the yen".


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