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Toshiba files results unapproved by auditor; warns of 'going concern' risk
By Makiko Yamazaki and Taiga Uranaka TOKYO (Reuters) - Toshiba Corp filed twice-delayed business results on Tuesday without an endorsement from its auditor and warned its very survival was in doubt, deepening a prolonged crisis at the Japanese conglomerate. "There are material events and conditions that raise substantial doubt about the company's ability to continue as a going concern," Toshiba said in announcing bigger than previously estimated losses for the nine months through December. The filing carried a disclaimer from auditor PricewaterhouseCoopers (PwC) Aarata LLC that it was unable to form an opinion of the results, increasing the likelihood that shares in the nuclear-to-TVs company will be delisted from the Tokyo Stock Exchange (TSE).
Oil climbs after reports that Saudi Arabia wants output cuts extended
By Jessica Resnick-Ault BOSTON (Reuters) - Crude oil turned positive on Tuesday, reversing course on reports that Saudi Arabia has told OPEC officials it wants to continue OPEC cuts for an additional six months. Oil futures have been pinned in a range, supported by production cuts from OPEC and other states but capped by rising U.S. shale oil production. The market turned positive after reports that Saudi Arabia told OPEC officials it wants to extend production cuts enacted in January for another six months when the group meets in May, according to the Wall Street Journal.
Asian passenger being forcibly removed from United flight in U.S. causes outrage in China
The video of an Asian man being dragged off a United Airlines flight became the top trending story in China over accusations of racism. David Dao was pulled off a Sunday evening flight from Chicago to Louisville, Ky., when he refused to give up his seat after United overbooked the flight. CCTV, the state broadcaster, showed photos of the passenger’s bloodied face above the word, “Savage!” People’s Daily, the ruling Communist Party’s flagship newspaper, scolded United for failing to condemn the man’s treatment.
U.S.-backed forces push back Islamic State in Raqqa campaign - officials
By John Davison BEIRUT (Reuters) - U.S.-backed forces fighting Islamic State in Syria advanced to within 2 km (1 mile) of a key stronghold near the jihadist group's de facto capital of Raqqa on Tuesday, and a counter-attack by the militants was repulsed, officials said. The multi-phased campaign by the Syria Democratic Forces (SDF), backed by air strikes and military advisers from a U.S.-led coalition, ultimately aims to oust Islamic State from Raqqa. Officials have given different estimates for how long the campaign will take, and the assault on Raqqa itself appears to have been delayed, after one high-ranking military official said it would begin at the start of April.
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