Japanese electronics and energy giant Toshiba Corp. says its chairman is resigning to take responsibility for problems that will result in a $6.3-billion loss in its nuclear business.
Toshiba warned that all the estimates it announced Tuesday may change "by a wide margin," because of uncertainties. Earlier, it delayed the reporting of its official financial results by a month, citing problems with auditing related to the losses in its nuclear business. That sent Toshiba stock tumbling 8% in Tokyo trading.
The company said Shigenori Shiga, the chairman, will step down from the board but will remain as a Toshiba executive. He is quitting over the big losses related to the acquisition of CB&I Stone & Webster by its U.S. nuclear unit, Westinghouse.
Toshiba said said its net worth was in the negative, at minus $1.7 billion at the end of last year, but it said it hopes to take measures to fix that by the end of March.
Adele’s big night at the Grammys, an overflowing dam threatens homes in Northern California, Santa Monica is set to approve the nation’s most extensive seismic retrofit plan, and L.A. Metro officials continue to be vexed by falling ridership.
Adele’s big night at the Grammys, an overflowing dam threatens homes in Northern California, Santa Monica is set to approve the nation’s most extensive seismic retrofit plan, and L.A. Metro officials continue to be vexed by falling ridership.
Adele’s big night at the Grammys, an overflowing dam threatens homes in Northern California, Santa Monica is set to approve the nation’s most extensive seismic retrofit plan, and L.A. Metro officials continue to be vexed by falling ridership.
Adele’s big night at the Grammys, an overflowing dam threatens homes in Northern California, Santa Monica is set to approve the nation’s most extensive seismic retrofit plan, and L.A. Metro officials continue to be vexed by falling ridership.
Highlights from the 2017 Grammy Awards at the Staples Center.
Highlights from the 2017 Grammy Awards at the Staples Center.
More than 100,000 people in communities downstream of Lake Oroville were told to evacuate Sunday evening after authorities grew concerned that dangerous flood waters would start surging out of the huge reservoir.
More than 100,000 people in communities downstream of Lake Oroville were told to evacuate Sunday evening after authorities grew concerned that dangerous flood waters would start surging out of the huge reservoir.
On Feb. 11, 1967, they held a large, public gay-rights demonstration that pre-dated the famous Stonewall riots in New York City by two years. On Saturday night, people celebrated the 50th anniversary of the demonstration.
On Feb. 11, 1967, they held a large, public gay-rights demonstration that pre-dated the famous Stonewall riots in New York City by two years. On Saturday night, people celebrated the 50th anniversary of the demonstration.
Electronic music superstar Steve Aoki was nominated for a Grammy for best music film for the documentary "I’ll Sleep When I’m Dead."
Electronic music superstar Steve Aoki was nominated for a Grammy for best music film for the documentary “I’ll Sleep When I’m Dead.”
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