Watch: This Is Why Biden’s $2 Trillion Infrastructure Plan Will Fail
In the United States, we have a problem that’s so BIG and obvious that even Elon Musk can’t see it. Our highways are broken, our streets are clogged with traffic,...
TOKYO, Feb 14 (Reuters) – Japanese shipping company Nippon Yusen KK said it had set up an investigation committee after finding that former managers at a Chinese subsidiary may have committed embezzlement or made unlawful expenditures.
Nippon Yusen said in a statement late on Tuesday it estimated a 2 billion yen ($18.6 million) charge related to the conduct at the Shanghai-based unit, which is engaged in the finished-car logistics business.
The company said it was considering applying for an extension of a Feb. 14 deadline to file its third-quarter earnings.
($1 = 107.7600 yen) (Reporting by Chris Gallagher; Editing by Paul Tait)
(c) Copyright Thomson Reuters 2018.
Join the 67,637 members that receive our newsletter.
Have a news tip? Let us know.