Blog

Toshiba to write down over $800 million after accounting probe: Nikkei

Toshiba Corp plans to book more than 100 billion yen ($802 million) in impairment charges for the last fiscal year in addition to marking down past results following an accounting investigation, the Nikkei business daily reported on Tuesday. The impairment charges include a more conservative estimate of Toshiba’s Westinghouse nuclear business and reflect weakness in its semiconductor and appliances units, the Nikkei said, without citing sources. It said the financial

Google overhaul "shareholder friendly", though details scarce

Analysts and investors have long sought more granular detail on Google’s capital spending and cash flow, as well the financial performance of YouTube and the Android operating system. Google said on Monday it would split into two reporting companies under a new holding company called Alphabet. Google shares were up 5.7 percent at $701 in premarket trading as investors looked forward to a new era of transparency.

US charges 9 in hacking/insider trading case

US officials charged nine people in an international hacking and insider trading conspiracy that yielded more than $30 million in illegal trading on stocks based on non-public information, officials announced Tuesday. The scheme was engineered by a team of hackers and securities traders from Ukraine and the US states of Georgia, Pennsylvania and New York, according to an indictment released by the US Attorney’s office in New Jersey. Defendants then

Oil prices fall on China demand, OPEC supply outlook

Oil fell on Tuesday on concerns of weaker demand from China after the world’s top energy consumer devalued its currency and as OPEC signalled supplies from rivals were proving more resilient than expected to low prices. China’s central bank made a “one-off depreciation” of nearly 2 percent in the yuan after a run of poor economic data, guiding the currency to its lowest point in almost three years. A slowdown