Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Earlier this year, Toshiba shareholders gave the go-ahead for the sale of the memory business; Toshiba is the world's second largest producer of NAND flash memory — behind Samsung. And last week, the board agreed to sell the unit to the Bain consortium.
After the Toshiba Memory Corporation (TMC) shares are transferred to the consortium's special purpose acquisition company Pangea, Bain and TMC managemnet will lead the "business operations to secure continuous growth," Toshiba said.
The U.S. investors will not acquire any common stock or voting rights over TMC. In addition, SK Hynix will be "firewalled" from accessing TMC's proprietary information and will not be allowed to own more than 15 percent of the voting rights in Pangea or TMC for 10 years. SK Hynix is a competitor of TMC.
Toshiba was prompted to sell the unit after its U.S. nuclear unit Westinghouse filed for bankruptcy in March. Mounting losses from the unit has put pressure on Toshiba's balance sheet. If it doesn't get a grip on its finances by March, the end of the Japanese financial year, then it could be delisted from the Tokyo Stock Exchange.
While the deal was announced Thursday, there are still a number of hurdles. It needs to get regulatory approval to make sure the agreement is not in breach of antitrust rules or does not threaten national security.
But the biggest roadblock is the ongoing spat with Western Digital, Toshiba's partner in the semiconductor business. Western Digital is seeking an injunction to block the sale of the semiconductor unit claiming that it violates the partnership contract that the two companies have.
- CNBC's Saheli Roy Choudhury contributed to this report
- Clarification: This story has been updated to reflect that Dell Technologies Capital is part of the Bain-led consortium