Sharp president to seek Hon Hai deal in Taiwan this week: paper
TOKYO (Reuters) - Sharp Corp's (6753.T) president will travel to Taiwan this week in a bid to conclude a deal that will make Hon Hai Precision Industry Co Ltd (2317.TW) the embattled Japanese TV maker's biggest shareholder, the Sankei daily reported on Monday.
Sharp President Takashi Okuda will meet with Hon Hai's chairman, Terry Gou, the paper said, without citing sources. Gou, who traveled to Japan last week, returned home on Thursday, having canceled a planned meeting with Sharp's senior executives slated for Friday.
"We can't disclose our executives' schedule, but we are hoping to settle the negotiations as early as possible," Sharp spokeswoman Miyuki Nakayama said.
Sharp's shares resumed their slide after Gou's unexpected departure prolonged uncertainty about Sharp's ability to secure a lifeline.
The stock dropped 12.8 percent on Friday, and fell another 7 percent in early trading on Monday after ratings agency Standard & Poor's downgraded the company's debt to junk status after markets closed last week.
Sharp's chief financial officer, Tetsuo Onishi, on Friday said his company regretted that it had been unable to conclude a partnership pact. The debt-saddled century-old Japanese maker wants to sell Hon Hai a 9.9 percent stake in return for badly needed cash.
NEW YORK - Stocks finished mostly higher on Friday, with the S&P 500 closing at a record after more jobs than expected were created in February and January's figure was revised higher.
- U.S. small businesses borrowed more money in January than they did a year earlier, signaling continued growth in the economy despite a spate of cold weather that has been blamed for weakness in many other indicators of activity.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.