The Presidential Daily Brief

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  1. Japanese yen

    Toshiba Shares Plunge 20 Percent After Nuclear Warning

    It’s a meltdown. Japanese industrial giant Toshiba took a hit last year when its CEO resigned amidst a profit overstatement scandal. Part of its recovery plan was its nuclear business. But even before news that the company may be facing “several billion dollars” in losses after a U.S. nuclear deal soured, stock had fallen 12 percent as investors scented blood in the water. After the announcement Wednesday, stock fell another 20 percent, the daily limit, and Toshiba acknowledged this could be the end of its nuclear interests.

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