Category: Uncategorized

Toshiba CEO Hisao Tanaka resigns after profit scandal: reports

Toshiba Corp. chief executive Hisao Tanaka resigned on Tuesday, a day after a panel said he and other executives bore responsibility for overstated profits for several years, according to media reports. The executives inflated operating profits by $1.2 billion by setting unrealistic profit targets, the panel found. In response to the accounting scandal, Toshiba said it would reorganize its corporate governance. This means eight of 16 board members are stepping down, including Tanaka and Norio Sasaki, who has been serving as vice chairman. Current chairman Masashi Muromachi will serve as interim chief executive.

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Shanghai stocks pull back, but Hong Kong rebounds

HONG KONG (MarketWatch) — Mainland Chinese stocks retreated Tuesday morning after three straight sessions of gains, with the Shanghai Composite Index down 0.4%. The losses came as China’s Securities Regulatory Commission on Monday denied a news report by Caijing that that the securities regulator is studying a plan to wind down a state rescue fund. The previous dat, the Shanghai Composite had reversed earlier losses after the statement and closed 0.9% higher. In Hong Kong, meanwhile, the Hang Seng Index advanced 0.5% after slight losses on Monday. The mainland-China-tracking Hang Seng China Enterprises Index rose 0.6%. Telecoms giant China Mobile Ltd. advanced 2.4%, adding to previous gains, after the company said its 4G subscribers jumped more than 11% in June from the previous month. Other, rival mobile carriers gained even more, as China Unicom Hong Kong Ltd. soared 7.3%, after the company said its 3G and 4G users increased by 5 million last month. China Telecom Corp. climbed 5.9%, as its 3G and 4G users rose by 1.82 million in June. Elsewhere on the market, life insurer AIA Group improved by 1.1%, with the company scheduled to release its semi-annual results on Friday. Tencent Holdings Ltd. edged 0.2% higher, adding to recent gains.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Asia stocks: Latest quotes

Here are the latest trading levels for Asia’s major stock markets:

Tokyo (Nikkei Average ) up 0.4%
; Hong Kong (Hang Seng Index ) up 0.3%
; Shanghai (Shanghai Composite Index ) down 0.7%
; Sydney (S&P/ASX 200 ) flat
; Seoul (Kospi ) up 0.1%
; Taipei (Taiex ) down 0.1%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Japan stocks rise, with Toshiba rallying on details of accounting mistakes

Japanese stocks shuffled higher in their return from a three-day weekend, with techs rising amid continued softness for the yen (dollar at ¥124.31) and transports improving after deep losses for crude-oil futures. Both the Nikkei Average and Topix were each 0.5% higher about 20 minutes into the trading day. Blue-chip advancers included Hitachi Ltd. (up 1.2%), Sharp Corp. (up 1.8%), Casio Computer Co. (up 3.2%) and Fujitsu Ltd. (up 1.5%), though Sony Corp. eased 0.3% after recent gains. Shares of Toshiba Corp. outperformed after the company said an independent panel had put the overstatement of operating profit in 2008-14 at about $1.2 billion, apparently ending speculation on the size of the problem. Meanwhile, the retreat for oil prices since Tokyo last traded helped Japan Airlines Co. rise 2%, while shippers Mitsui O.S.K. Lines Ltd. and Nippon Yusen K.K. climbed 3.3% and 2.1%, respectively. Shares of Mitsubishi Materials Corp. were down 1.1%, as China’s state media called on the company to issue a public apology for its alleged use of Chinese forced labor after the company made a similar apology to U.S. prisoners of war made to work in the company’s mines during World War II.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Get a Dreamy, Organized Closet With These 8 Tips

By Kayla Kitts

Beth’s Photo Friday totally took us on a nostalgic trip back to 1995 when boa scrunchies, stretch chokers and babydoll tees were everything. It doesn’t feel like long ago that I had this poster hanging on my closet door. (Leo for life!) So with Clueless celebrating its 20th anniversary this week, it seems only fitting that we continue the closet inspo with our top organization tips and tricks that even Cher Horowitz would approve of. Closet organizer to the stars, Melanie Charlton, shares how to declutter, maximize storage space and organize your favorite items efficiently just in time for fall shopping. Ready to conquer?

Twenty years later, we think Cher would upgrade her closet to something like this.

Ask: Would you buy it today?

The first step to getting your closet organized is to go through and edit. Ask yourself if you’d buy this item today or if it has a sentimental factor that warrants storage. If you haven’t worn an item in more than two years or if it’s two sizes too small or two sizes too big, it’s time to say goodbye. Melanie’s greatest tip: Don’t go through this process alone! Pick a friend whose style you admire and invite them into your closet to share an honest opinion.

Make every inch count.

No matter the size or shape of your closet, you can easily transform it into an effective and organized space. The key is to make every inch count by using shallow wall space. Use wall hooks to hang handbags and scarves to make more room for clothes. The closet door is also a prime place for hanging items such as mirrors and storage racks.

Think outside the box.

You don’t have to be confined to the configuration of your closet. There are simple ways to make the most out of your space by getting creative and thinking outside the box — and by actually using boxes! Create shelves out of boxes or bins, bring in portable drawers and stack them in the back of your closet.

Get the hang of this.

There are basic guidelines that everyone should follow when it comes to hanging your clothes. (You had no idea, did you?) First, try to avoid wire hangers that can damage and warp your clothing. Second, create a wrinkle-free environment for your clothing by leaving at least one inch between each hanger. And if you really want a Cher-like closet, purchase matching, no-slip velvet hangers to make your closet look neat and well-arranged.

Shop your closet.

Sort your clothing by type, color and season. Streamline your closet system even more by organizing each section by shade from light to dark. Remember that eye follows pattern, so this makes it easier when picking out what to wear. Melanie recommends color coding your garments into separates which will help you visualize the contents of your closet and mix and match pieces more quickly. This will …read more

From:: HGTV

Musk on doomed SpaceX flight: Rocket science is ‘a difficult thing’

SpaceX Chief Executive Elon Musk said Monday a failed strut is the likely culprit in the June 28 rocket explosion that doomed a routine cargo flight to the International Space Station. Musk said SpaceX, a closely held company, will return to flight with the Falcon 9 in the next few months. “Rockets are a fundamentally difficult thing. Generally when there’s an idiomatic expression about it, there’s a reason,” Musk said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

10 Ways to Pay off Your Student Loans in a Year

So you’re out of college, drowning in debt and probably wondering, “Was it really worth it?” Whether it was or wasn’t is probably yet to be seen. But either way, you might be desperate to rid yourself of student loan debt—especially if the amount of your debt is on par with the national average, which […] …read more

From:: Finance and Economy

Evernote grabs top Google exec to be the new CEO

By Gina Hall

Evernote named Chris O’Neill the company’s new CEO on Monday, replacing Phil Libin, who will remain executive chairman.

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O’Neill, who ran business operations at Google X, a division of Google (NASDAQ: GOOG) will assume the role on July 27. Prior Google X, he led Google Canada, where he was responsible for all aspects of the company’s operations. Under his leadership,… …read more

From:: biz journal foreclosures