Toshiba Corp said on Monday it would book a record net loss this year and cut around 5 percent of its workforce as the sprawling conglomerate, reeling from a $1.3 billion accounting scandal, focuses on chips and nuclear energy. But analysts question whether streamlining can return the 140-year-old Japanese bulwark to dominance considering falling profit…
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SINGAPORE: Embattled Japanese conglomerate Toshiba said on Monday (Dec 21) it is expecting an annual loss of nearly 550 billion yen (US$4.53 billion) and will be cutting jobs in its loss-making consumer electronics business as it embarks on a bold restructuring plan in an effort to move beyond an accounting scandal. The Tokyo-based company announced…
IVRCL jumped 5.01% to Rs 9.65 at 12:44 IST on BSE after the company said its board of directors decided to carve out the business of the company into two companies by way of scheme of arrangement. The announcement was made on Saturday, 19 December 2015. Meanwhile, the S&P BSE Sensex was up 146.32…
Dec. 21, 2015 4:50 a.m. ET So much for managing expectations. Over the weekend, The Wall Street Journal and other media reported that Toshiba TOSYY -2.26 % was set to forecast a $4.1 billion net loss for the fiscal year through March, sending shares down 9.8% on Monday. After the market closed, the Japanese conglomerate…
©Bloomberg Masashi Muromachi, Toshibas chief executive Toshiba has warned of its biggest annual loss of Y550bn ($4.5bn) as a result of massive costs involved in slashing 10,600 jobs and streamlining its lossmaking businesses. Analysts said that a speedy execution of the restructuring measures unveiled on Monday will be critical to restoring investor confidence tarnished by…
IVRCL share price soared as much as 11 per cent in the early trade on Monday after the debt-laden infrastructure firm decided to split its engineering procurement construction (EPC) and assets business land and Build Operate Transfer (BOT) to float two separate companies. In a BSE filing, the company said the board has decided to…
Dec. 20, 2015 2:30 p.m. ET SEOULThe struggle to pull off what could be South Koreas biggest-ever stock listing is hitting obstacles, roiling plans to restructure one of the countrys most powerful conglomerates. At issue is the initial public offering of Hotel Lotte Co., a central member of the 81-company Lotte Group, which had 81…
December 18, 2015 MEXICO CITYMexican construction company Empresas ICA SA ICA -24.58 % B said Friday that it wont make a $31 million bond interest payment when its grace period expires at the end of the month. The company added it will seek to restructure its debt and operations in what could lead to Mexicos…