A recent survey has been conducted in America which included 100 chief financial officers. Out of these, 9 out of 10 speculated that renewable energy will hold a large number of shares in the coming 5 years.  1 to 5 of them thought that renewable energy shares will be more than double.

According to 64 percent of the corporate financial officers the market share of renewable energy will be in between 8 to 10 percent. Share range from 13 to 16 percent has also been speculated by 22 percent executives. As per the records of Energy Information Administration, renewable energy produces up to 7 percent of the total of America’s energy.

It was also found in a telephone survey was done for a leading account and consulting firm, BDO Seidman LLP, concluded that 2 – 3rd of the executives supported the carbon dioxide emission control because of global warming. A few supported state regulations.

Newly elected president Barack Obama has taken economy revival as one of his key priorities (and energy development is an important part of it). The mentioned survey was conducted prior to elections, so there is a chance that executives’ expectations may have been understated.

Panasonic was expecting to make 560b yen in the current fiscal year that to end next March, but now the company has cut it down to 340b yen.

According to the company, the current economic slowdown that started in the US was spreading in other parts of the world and just like other businesses it was hitting sales of electronics’ makers as well.

“Due to low consumer spending, intense price competition and yen’s fast appreciation, business environment are getting bad to worse with every passing day. Similarly, some other negative factors like investment securities write-down occurring because of decline in stock prices and business reforming expenses,” the company says.

Some recent news indicate that many big guns of the industry have been showing good results despite worldwide economic slowdown, but this cut down from Panasonic is enough to explain how things are.

Nissan made a net profit of 126bn yen between April and September, while it was 212bn yen a year earlier.

There was an overall 4.7% rise in sales, but in the US it fell 3.4%.

Nissan, looking ahead, has also warned that its profits for the financial year by the end of March can drop more than two thirds.

The company is expecting a net annual profit of 160bn yen, while it was 484bn yen a year back that is well short of the company’s 340bn yen previous forecast.

Nissan chief executive Carlos Ghosn said: “There is a deep effect of the global financial and economic crisis on almost every area of car industry and declining consumer confidence is indeed one of the most damaging factors.”

“We are taking all necessary measure to protect the company and preserve our ability to bounce back in the improved conditions,” he added.

Nissan has also said that it would stop production of two of its models at Sunderland plant in the North-East of England, as the demand is falling with every passing day and mainly due to economic downturn.

According to Renault, about 4,900 jobs would be cut in France while the number would go 1,100 in other European countries.

However, a severe reaction has been shown by the French unions to the news and CGT union has called for one-day strike on Thursday.

The CGT union is asking President Nicolas Sarkozy to arbitrate the issue. Almost 15% of Renault’s shares are owned by the French government.

During July this year, Renault announced that it had fallen behind on its sales targets while the company’s half-year profits had raised 37% .The current move follows that announcement.

Almost 1,000 jobs will be cut in Sanouville plant of Renault that is located in western France and gives the firm its current large size. Renault has also stopped hiring of the new staff.

The company says that now it’s planning to sell around three million vehicles instead of its settled target of 3.3 million vehicles earlier this year.