STMicroelectronics posts loss

STMicroelectronics posted a quarterly loss last night, hurt by troubles at its mobile chip unit, and forecast a decline in revenue for the next three months. The Geneva-headquartered company, which makes chips for cars, computers and mobile phones, recorded a fourth-quarter net loss of $428m (£271m), compared with a loss of $11m for the same period last year. Revenue slipped slightly to $2.2bn.