Sterling dropped on Tuesday after Britain’s parliament paved the way for Prime Minister Theresa May to launch divorce talks with the European Union, while stocks advanced ahead of an expected U. S. interest rate later in the week. European stocks were set for a mixed start, with financial spreadbetters expecting Britain’s FTSE 100 .FTSE and … Read more
U. S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp (6502.T) is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said the nuclear engineering company had brought in law … Read more
Japan’s Toshiba Corp (6502. T) wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said. The beleaguered conglomerate was pressured to abandon an initial plan to sell … Read more
Stocks flatlined and the dollar dipped on Tuesday as caution set in before testimony from Federal Reserve chief Janet Yellen that may offer clues to the timing of the next U. S. interest rate rise. Adding to pressure on the dollar was the resignation of President Donald Trump’s national security adviser Michael Flynn, who quit … Read more
Japanese trust banks are preparing to sue Toshiba Corp over its 2015 accounting scandal, a fresh headache for the conglomerate as it scrambles to offset a separate imminent multi-billion dollar writedown. The news follows an announcement by the struggling conglomerate on Friday that it will sell a minority stake in its memory chip business to … Read more
Toshiba Corp (6502. T) said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division – the cause of its woes – was now under review. The drastic measures are set to be just some of … Read more
Japan’s Toshiba Corp (6502. T) said it will unveil the extent of the writedown on its U.S. nuclear business on Feb. 14 when it reports its results for the quarter ended Dec. 31. The laptops-to-engineering conglomerate, still recovering from a $1.3 billion accounting scandal two years ago, shocked investors in December by announcing major cost … Read more
Toshiba Corp (6502. T) met creditors on Tuesday and asked them not to use provisions in debt agreements to call in their loans early, giving the troubled company time to work out a turnaround plan, sources with knowledge of the matter said. It was the first such meeting since the conglomerate, which is still recovering … Read more
The dollar slipped to a two-week low against the yen on Thursday, mirroring a fall in U. S. bond yields as weaker-than-expected economic data weighed on the greenback and waning risk appetite boosted Japan’s safe-haven currency. Japan’s Nikkei stock index .N225 – which tends to move in the opposite direction to the yen – shed … Read more
Toshiba Corp said it may have to book several billion dollars in charges related to a U. S. nuclear power acquisition, a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen. The Japanese group said cost overruns at U.S. power projects handled by a nuclear construction business newly … Read more