The total amount of operating profits Toshiba Corp. booked through inappropriate accounting in the five years through March 2014 is believed to have reached around ¥160 billion, sources have said. Source The Japan times
One of the oldest coal companies in the U.S. with connections to Coshocton filed for bankruptcy protection Oct. 9 to deal with more than $1.4 billion in debt amid declining demand for the fuel. Englewood, Colorado-based Westmoreland Coal Co. filed for voluntary Chapter 11 protection in U.S. Bankruptcy Court in Houston as part of a restructuring agreement with an unnamed group of lenders. Source Coshocton
A Tennessee coal mining company that filed for bankruptcy this week is the second coal company to go bankrupt during Donald Trump’s pro-coal presidency. It’s also the fifth U.S. coal industry bankruptcy in the last three years as competitors in the energy market continue to drive coal into the dust pile. Source CBS
An unprecedented volume of Iranian crude oil is set to arrive at China’s northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon. “As our leaders have said it will be impossible to stop Iran from selling its oil. We have various ways of selling our oil and when the tankers reach Dalian, we will decide whether to sell it to other buyers or to China,” Source Reuters
