Loss-hit Toshiba nosedives on fears about future
Toshiba's woes continue to pile up
Tokyo - AFP
Toshiba shares plunged Wednesday afternoon as fears grow about the future of one of Japan's best-known firms, which is battling massive losses and accounting fraud allegations at its US nuclear unit.
The Tokyo-listed stock dropped 13.62 percent to 186.5 yen with concerns growing that the embattled company's shares could be delisted from the bourse.
The vast conglomerate -- which has about 188,000 employees globally and annual revenue topping 5.6 trillion yen -- won regulatory approval Tuesday to delay releasing its fourth-quarter earnings for a second time.
Toshiba said it needed more time to probe claims of misconduct by senior executives at atomic power unit Westinghouse Electric and gauge the impact on its finances.
The Tokyo Stock Exchange has put Toshiba "under supervision" over concerns about its internal management controls, a designation that means the stock is at risk of being delisted -- a major embarrassment for a pillar of corporate Japan.
source: AFP
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Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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