The recent scandal with financial fraud and losses of $ 4.5 billion in the Toshiba Company led to the fact that the Japanese giant’s shares collapsed by 43%.
Toshiba is the oldest Japanese manufacturers of electronics and has been on the market for 140 years. All events that occur in the company significantly affect the Japanese economy.
In order to stop the falling shares, minimize costs and regain the trust of investors, Toshiba planned staff reductions. Layoffs will affect those employees who are involved in the consumer sector of the company (production of refrigerators, computers, television sets and other household appliances). So Toshiba hopes to streamline business operations by reducing the productivity of its plants. Also, Toshiba plans to abandon the development of new models of TVs and sell its plant in Indonesia. As a result, the total number of cuts could reach up to 10,000 employees.
Toshiba’s apart from spending cuts is required a massive restructuring. In its official statement, Toshiba said that with such a plan, they hope to bring back investors and once again become a profitable company.
Lawyers say that Toshiba needed to be restructured , which would be aimed not only at reducing production but also in raising the image of the company, which does not stand up to competition with other electronics manufacturers, although in fact they are the innovators in this area – in 1985, Toshiba was the first company who released an affordable notebook.
After the adoption of Toshiba’s decision to reduce staff and narrowing the sphere of production, some analysts are talking about the success of the company’s decline and visual problems in the field of management in Toshiba.
In August 2015, the company pleaded guilty in the fact that artificially overestimated data in the financial statements for 2008-2009 and then its shares immediately fell by almost a half.
In Germany, Telegram faces a fine of 55 million euros because the company does not have a contact person who would be obliged to communicate with the state to distribute content that violates the law. Der Spiegel reported this. If the company refuses to cooperate with the German authorities, the application may be blocked in […]
Significant strengthening of the hryvnia against the dollar is due to four main factors. Vasyl Furman, Deputy Chairman of the Council of the National Bank of Ukraine, said this on the air of Ukraine 24 TV channel. “This is primarily an increase in prices in commodity markets, on the one hand, although, on the other […]
Ukraine is in the top 10 countries with the highest earnings on Bitcoin in 2020 – Ukrainian investors received about $ 400 million in profits on cryptocurrency. The Ministry of Finance with reference to the data of the analytical company Chainalysis reported this. The authors of the rating draw attention to the obvious dominance of […]
Authorities in the United States and the European Union have agreed to end a long-running trade dispute over the aerospace concerns Boeing and Airbus, which has resulted in mutual tariffs of more than $ 10 billion, said Catherine Ty, the US representative at the trade talks. “The US-EU agreement marks significant progress in reaching a […]
Microsoft will stop supporting Windows 10 on October 14, 2025. This was reported by the company’s press service. Thurrot writes that this means the date of the “death” of Windows 10. The publication adds that the new generation of operating system, which Microsoft will present next week, will not be called Windows 10, at least, […]
On the shores of the Black Sea, Radisson Hotel City Centre Odesa opens as Radisson Hotel Group’s 7th hotel in Ukraine in operation and under development. With an excellent location on the famous Derybasivska Street, Radisson Hotel City Centre Odesa unlocks the cosmopolitan city of Odesa, full of architectural styles, international cuisines and beautiful Black […]
It may take Nvidia twice as long to get approval for its deal to buy Britain’s largest technology company, Arm Holdings, which is owned by Japanese financial conglomerate SoftBank Group. After the companies announced a $ 40 billion deal last September, the first hurdle was a class action lawsuit from Google, Qualcomm and Microsoft, which […]
The American company Tesla demonstrated on Thursday in Fremont (California) its new electric car Model S Plaid. The presentation, led by Tesla Chairman Elon Musk, was broadcast on the company’s website. According to the businessman, critics have previously pointed out that the updated version of the Model S car will be “insanely fast”, and expressed […]
Due to the actions of the prosecutor ‘s office in Mykolayiv region the Sea specialized port Nika-Tera has frozen a large investment project of 40 million UAH. At the same time the city budget of Mykolayiv has lost a considerable amount of lease of the water fund lands. This was stated by the chairman of […]Next
On Tuesday, the world’s largest manufacturer of jeans and casual wear, Levi Strauss, announced better than expected results of its 3rd financial quarter, which ended on August 23. The company reported the profits of $ 27 million, after the loss of $ 364 million in the second quarter, when Levi was forced to cut 15% […]Next
World oil prices at the auction on Thursday, June 3, updated for a maximum of four months. Thus, August futures on Brent reached $ 71.84 per barrel, which is the highest since January 2020. July futures on the WTI are trading above $ 69 per barrel – a maximum of October 22, 2018. Quotes are […]Next
Created by Bill Gates, Microsoft third time topped the annual ranking of the 100 most responsible US corporations. This was announced by Forbes on Wednesday, October 14. Also in the top five of the updated list, in addition to Microsoft, included only technological giants – NVIDIA, Apple, Intel Alphabet. “Forbes compiled the rating together with […]Next
Deposit Insurance Fund (DIF) in the period of the interim administration and liquidation of insolvent Delta Bank recognized as negligible 175 deals worth 22.292 billion UAH. According to the DIF, in particular, to 11 business transactions, including the sale of the assets with the discount, or related parties, transaction of 12.2 million UAH were recognized […]Next
The U.S. Department of Labor’s weekly report on Thursday showed that the number of initial applications for unemployment benefits in the country rose to 1.106 million in the week ended August 15, which is worse than the forecast of economists at 925 thousand and worse than the previous week, when the figure of 971 thousand […]Next
The decision of the Constitutional Court violates Ukraine’s obligations to Western creditors. This was reported by the Ministry of Finance with reference to the statement of the head of the department Serhiy Marchenko. He addressed to the assessments of the World Bank management regarding the decision of the Constitutional Court on the officials’ e-declarations. “They […]Next
The construction of the port terminal is a major investment project for UkrLandFarming. This was told by the founder and owner of the agricultural holding Oleg Bakhmatyuk in an interview to the Latifundist.com. “The main investment project, for which we will raise money, is the construction of the port terminal. In my opinion, today there […]Next
The State Property Fund of Ukraine representative informed that 99,99% of Ukrainian Bank for Reconstruction and Development (UBRD) had been sold to Bohai Commodity Exchange within the auction second round. The State Institution posted this information on the official web-site. The transaction value consists 82,8 million UAH. The asset’s cost of Ukrainian bank was underestimate […]Next
In the next five years, Naftogaz plans to invest $ 7.3 billion in hydrocarbon production, said Otto Waterlander, the group’s chief executive officer, at a presentation of NJSC’s business strategy. “Over the next five years, our business plan assumes that we will invest $ 7.3 billion in mining, upstream, and double that amount over the […]Next
The Cabinet of Ministers has set the maximum allowable amount of the basic annual fee for the services of a member of the Supervisory Board of NJSC Naftogaz of Ukraine for UAH 6.328 million (about $ 19 thousand per month at the current exchange rate). The government portal reported this. Thus, according to Resolution №503 […]Next
The “Genotropin” drug, series MO5229, is forbidden to realization, storage and using according to the information received by The State Service of Ukraine on Medicinal Products from the regulatory body field of quality control of medicines in Denmark. The State Service of Ukraine on Medicinal Products published on its website the Order ?577-2.0.1 / 2.0 / […]Next
The Solomensky District Court of Kiev had arrested the “Fozzy-Food” accounts (Vishneve, Kyiv region) due to the underreporting by the officials of the value added tax. This is stated in the definition of the Court of 18 May, says the Ukrainian News. The Solomenskiy District Court of Kyiv has received a request for the seizure […]Next
Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]Next
The court satisfied the claim of the state-owned PrivatBank to Agroterminal and decided to collect UAH 1 billion in debt from it as a guarantor of Boryvazh. This is stated in the decision of the Commercial Court of Odessa region. According to court materials, PrivatBank terminated the loan agreement due to the debtor’s breach of […]Next
The American corporation Google, following other American companies Twitter and Facebook, suspended data requests from the Hong Kong authorities after the new Chinese law entered into force on this autonomous territory. “Last Wednesday when the law went into effect, we suspended any new data requests from the Hong Kong authorities. We will continue to study […]Next