Boeing to take $4.9 billion charge as 737 Max fallout worsens

Business / Corporate Jul 19, 2019

Boeing to take $4.9 billion charge as 737 Max fallout worsens

Boeing Co. plans to record a $4.9 billion accounting charge related to its beleaguered 737 Max jetliner when the company reports quarterly earnings next week. The after-tax charge, equivalent to $8.74 a share, covers potential concessions and considerations for airline customers who have been forced ...

Trust banks plan ¥1 billion lawsuit against Toshiba

Business / Corporate Jan 30, 2017

Trust banks plan ¥1 billion lawsuit against Toshiba

Mitsubishi UFJ Trust and Banking Corp. and an affiliated trust bank plan to sue scandal-ridden Toshiba Corp. for ¥1 billion over losses incurred from a major accounting scandal that sent its share price plummeting, a source close to the matter said Monday. The potential lawsuit ...

Business / Corporate Sep 25, 2015

Sharp to log operating loss in first half of FY 2015

Struggling electronics maker Sharp Corp. expects a group operating loss in the first half of fiscal 2015 as weak smartphone sales in China took their toll, company sources said Friday, a downgrade of its May projection for a ¥10 billion operating profit. In a statement, ...

Business Jul 15, 2014

Citigroup to pay $7 billion in subprime mortgages probe

Citigroup agreed Monday to pay $7 billion to settle a federal investigation into its handling of risky subprime mortgages, admitting to a pattern of deception that Attorney General Eric Holder said "shattered lives" and contributed to the worst financial crisis in decades. The settlement represents ...