Mar 15, 2017 07:11 AM EDT
Toshiba is actively considering to sell its US nuclear unit in Westinghouse according to a statement the group released on Tuesday. This is part of its probing of the problems in Westinghouse that has missed an earnings deadline for the second time around.
The Japanese company believes that it could find buyers for a majority stake in Westinghouse, amid potential future loss, due to the unit's stable fuel and services business. Toshiba president Satoshi Tsunakawa sidesteps questions for a Chapter 11 filing for Westinghouse and says there are various options. Sources claim that bankruptcy lawyers have already been hired for further actions.
In February, Toshiba saw the resignation of its chairman after the company delayed publishing the results over disagreements of its auditors. Last month, Toshiba announced a $6.3 billion devaluation because some of its US nuclear assets were determined as worth less than estimated. Analysts have claimed that the company's future may be at risk.
Toshiba's Westinghouse unit has been plagued by huge cost overruns at two US projects in Georgia and South Carolina, which means that it is unlikely to be an easy asset to sell. Tsunakawa emphasizes that the projects were only a small part of Westinghouse and that most of its revenues come from stable businesses. "Around 80 percent of Westinghouse's revenues come from stable businesses in services and fuel-related businesses so I think that will be taken into consideration too," he said in a news conference.
While it is true that most of the revenues of Toshiba come from its nuclear services businesses, that side has not made a profit since 2013 altogether with other nuclear services since the Fukushima disaster in 2011. Toshiba had announced to its investors last December that it faced a heavy loss linked to a deal done by Westinghouse. Meanwhile, after news of the sale, Toshiba shares dipped in Tokyo with as much as 8.1 percent.
People who travel for business two weeks or more a month report more symptoms of anxiety and depression and are more likely to smoke, be sedentary and report trouble sleeping than those who travel one to six nights a month, according to a latest study conducted by researchers at Columbia University's Mailman School of Public Health and City University of New York.
President Trump said Friday he is declaring a national emergency on the southern border, tapping into executive powers in a bid to divert billions toward construction of a wall even as he plans to sign a funding package that includes just $1.4 billion for border security.
Amazon's decision to abandon plans to build a new campus in Long Island City, Queens, has drawn cheers from several politicians, community organizers and other locals opposed to the expansion.
One of the hottest topics at the World Economic Forum in Davos, Switzerland has been Alexandria Ocasio-Cortez's proposed 70% marginal tax rate on all income above $10 million.
In recent decades, Europe has experienced a downward trend in the annual number of deaths. Not only was this trend not arrested by the economic recession that started in 2008, in fact, the rate of decline increased during the recession years.
Discovering that your new designer handbag or gold watch is a fake is costly and annoying, and counterfeit medical devices or drugs could have even more serious consequences. But seemingly as soon as manufacturers develop a new method to ensure product authenticity, counterfeiters find a way to outsmart it. Now, researchers have created an "unclonable" tag that can never be replicated, even by the manufacturer. They report their results in ACS Applied Materials & Interfaces.
The traditional model for setting auto insurance premiums has been to base rates on the motorist's driving history, age, gender and even marital status (in some states). Thanks to new technological options, insurance companies, and motorists have started to work together to give the insurance companies access to better data on an individual driver's risk level, and give the same driver a sense of greater control over how much he or she will pay in insurance premiums.
Consumer brands have long used old-fashioned focus groups, interviews and surveys to best gauge consumer wants, desires and needs as part of processes that range from product development, to marketing and sales. As machine learning and artificial intelligence (AI) have emerged, there is an increasing interest in the ability to harness these solutions to save time and money, and to yield more reliable consumer insights.