Westinghouse, Toshiba's US nuclear unit, has filed for US bankruptcy protection.
The US firm has struggled with hefty losses that have thrown its Japanese parent into a crisis, putting the conglomerate's future at risk.
Westinghouse has suffered huge cost overruns at two US projects in Georgia and South Carolina.
Toshiba said the bankruptcy would not affect Westinghouse's UK operation,...
Ford announced Tuesday it will invest $1.2 billion in three factories in Michigan that were part of negotiations two years ago with the United Auto Workers Union.
The bulk of the investment -- $850 million -- will be used for a planned upgrade at a plant in Wayne for the Ford Bronco SUV and the Ford Ranger pickup truck, the company announced. The Michigan Assembly Plant will begin building...
Russia and North Korea are deepening bilateral relations with a "labor immigration agreement."
The development reflects a general trend of increased cooperation between the two countries that recently included plans to increase railroad cooperation and boost study abroad exchanges for North Korean students.
Russian has remained a traditional North Korea partner since the 1950-53 Korean War,...
There are more billionaires on the planet now than ever before, according to Forbes magazine's rich list for 2017.
The 31st annual billionaires list notes 233 more billionaires (13 percent) than were included on the 2016 roundup. This year marks the first time Forbes' billionaire club features more than 2,000 people.
The 2017 net worth of all 2,043 billionaires also set a record -- $7.7...
Former Chase Manhattan Chief Executive David Rockefeller has died at the age of 101.
Rockefeller died in his sleep at home in Pocantico Hills, New York, on Monday morning as a result of congestive heart failure, according to a family spokesperson Fraser P. Seitel.
The businessman, who had an estimated fortune of $3 billion, retired as head of Chase Manhattan in 1981 after a 35-year...
Retailer JCPenney announced it is closing 138 stores nationwide this summer because of slow sales.
The company said the locations represent 14 percent of store locations but account for five percent of company sales. A supply chain facility in Lakeland, Fla. will be closed and another in Buena Park, Calif., will be relocated. About 5,000 people will be laid off as a result. The stores will...
Dozens of Brazilian government officials were suspended Friday amid allegations that some of the country's largest meat processors have been selling rotten and salmonella-tainted meat for years.
Officials said food company employees oversaw a scheme that included bribing inspectors to allow the tainted meat to be served in public schools and exported to Europe. Brazil is the world's largest...
Yahoo CEO Marissa will receive a severance package of about $23 million and she won't stay with Altaba after the company is sold to Verizon.
Details of Mayer's removal were disclosed in a U.S. Securities and Exchange Commission filing released on Monday.
Thomas McInerney will become CEO of Altaba Inc., what Yahoo will then be called after Verizon's $4.46 billion purchase of Yahoo's media...
Gordmans, a discount store chain, declared Chapter 11 bankruptcy Monday and announced plans to liquidate its assets.
The century-old retailer based in Omaha entered into an agreement with Tiger Capital Group LLC and Great American Group LLC to liquidate its inventory and other assets at retail stores and distribution centers.
"Until further notice, all Gordmans stores are operating as usual...
South Korea's economy is vulnerable to Chinese sanctions that are being phased in as a response to a joint decision to deploy a U.S. missile defense system on the peninsula.
According to Rajiv Biswas, chief economist on the Asia-Pacific at IHS Economics and Country Risk, China is inflicting damage on South Korea businesses that have been cooperative on THAAD deployment, Yonhap...
