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Fears over Toshiba Corp’s second probe into its own accounting in two years wiped close to $2.5 billion off the Japanese industrial giant’s market value on Monday, with analysts saying lingering doubt on the root of the problem will keep investors on edge. Shares in Toshiba tumbled by their daily limit of 17 percent on Monday. Toshiba had warned in April that it may have underreported costs of some infrastructure
By Jane Wardell SYDNEY (Reuters) – The Australian government on Monday announced a world-leading crackdown on alleged tax avoidance by 30 multinational companies in a move that could force the likes of Apple Inc and Microsoft Corp to restructure their businesses to escape huge penalties. “These companies are diverting profits earned in Australia away from Australia to no-tax or low-tax jurisdictions,” Treasurer Joe Hockey told reporters in Canberra. Google Inc,
By Teppei Kasai TOKYO (Reuters) – Japan’s SoftBank Corp unveiled a management reshuffle on Monday, appointing investments head Nikesh Arora as president and naming him as a potential successor to CEO Masayoshi Son, as the telecoms conglomerate steps up its overseas expansion. The move comes as Son and SoftBank are battling to make their 2013 acquisition of U.S. carrier Sprint Corp for more than $20 billion profitable. Announcing Arora’s appointment
By Ritsuko Ando and Ayai Tomisawa TOKYO (Reuters) – Japan’s Sharp Corp said it may reduce its capital and issue preferred shares as part of a planned restructuring, but worries about potential dilution from the new issuance and other possible fund raising sent its shares plunging 26 percent.Battered by competition from cheaper Asia rivals in its core liquid crystal panel display business, loss-making Sharp has been working with its main
Brent and WTI crude oil prices will remain below $100 a barrel until at least 2025, according to a draft report by OPEC, seen by The Wall Street Journal.
The chances of another sharp fall in the price of oil is rapidly receding, according to a notable European commodity analyst.
So as a new week begins following a comforting jobs report and decent little stock rally Friday, these are the things to watch.
Shares of online retailer Zulily are soaring in premarket trading Monday, after Chinese e-commerce powerhouse Alibaba disclosed last week that it bought a stake in the company. Alibaba Group Holding Ltd. …
Ian Winer is head of equity trading at Wedbush Securities and although he’s a rally skeptic, he does see opportunity in individual companies, especially those that leverage themes.
Finance Minister Yanis Varoufakis acknowledged that a deal to ease Greece’s cash crunch was not likely at a meeting of euro zone finance ministers later on Monday despite progress in talks with lenders on some issues. A 750 million euro debt repayment to the IMF falls due on Tuesday but Varoufakis said a deal that would provide some liquidity relief for Greece was more likely in the coming days. “The
