Net Loss | featured news

The U.S. Postal Service's net loss widened to $5.2 billion during the April through June period, and the cash-strapped agency warned on Thursday that without help from the U.S. Congress it will face low cash and be unable to borrow money this fall.

The electronics giant, already battered by a number of factors, doubled its projected net loss for the business year that just ended because of an additional tax expense.

The Postal Service reported a net loss of $3.8 billion for the 2009 fiscal year, about $1 billion more than the previous year.

Aircraft maker Boeing blames a net loss of $1.6bn (£974m) on rising production costs and poor market conditions.