- IRS official refuses to answer questions at scandal hearing |
- Global stocks, oil fall after Bernanke; dollar gains |
- Oklahoma tornado victims astounded at how they survived |
- CORRECTED-White House threatens veto of bill to bypass Obama on Keystone
- FBI says man shot dead while being questioned about Boston bombings
Sharp secures $4.6 billion loan to stay afloat
TOKYO (Reuters) - Japan's Sharp Corp (6753.T) said on Friday that it secured a syndicated loan agreement worth 360 billion yen ($4.6 billion)with main lenders Mizuho Financial Group (8411.T) and Mitsubishi UFJ Financial Group (8306.T), to cover operating costs until the end of June next year.
The struggling TV maker and supplier of liquid crystal displays to Apple Inc (AAPL.O) has been in talks with its banks to secure funds for survival in exchange for drastic cost cuts, including selling overseas TV assembly plants and shuttering solar panel operations abroad.
(Reporting by Mayumi Negishi; Editing by Joseph Radford)
- Tweet this
- Share this
- Digg this