REUTERS/Issei Kato
Toshiba Corp President and Chief Executive Officer Hisao Tanaka bows deeply as the start of news conference on panel to examine accounting issues in Tokyo May 15, 2015.
US markets are booming, with the Nasdaq and S&P 500 reaching new closing highs overnight. The Nasdaq hit 5,218.86, while the S&P 500 reached 2,128.28.
But commodities are still collapsing. After Monday's mystery gold dump from China the precious metal is still at 5-year lows, at $1102 (£708) per ounce. Oil is also at a 3-month low, trading at $50.25 (£32.30) per barrel at time of writing.
A report by independent investigators says Toshiba overstated its operating profit by 151.8 billion yen (£780 million, $1.22 billion) over several years, roughly triple Toshiba's initial estimate. President and Chief Executive Hisao Tanaka and his predecessor, Vice Chairman Norio Sasaki, were aware of the overstatement of profits, it said.
Asain markets are quiet. Japan's Nikkei is up 0.87%, Hong Kong's Hang Seng is 0.69% higher, and the Shanghai Composite is 0.57% higher at time of writing.
New York state's banking regulator has intensified an investigation into Promontory Financial Group, a global consulting firm, over its work for Standard Chartered, according to a person familiar with the matter. The probe, conducted by the New York State Department of Financial Services (NYDFS), focuses on a 2011 report to regulators about the British bank's transactions with Iran and other sanctioned countries, the person said.
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China has already created 7 million jobs this year. On Monday the nation's statistics agency, the NBS, quietly released its June quarter unemployment report, showing it has already created 70% of the 10 million new jobs targeted for 2015.
PayPal started trading as an independent company in the US on Monday after its spin-off from eBay last week. It's market cap is currently $49.5 billion (£31.8 billion), meaning PayPal is worth more than Netflix, eBay, and Twitter.
Private equity firm KKR is taking transaction processing company First Data public in the US. First Data was bought by KKR in 2007 for $26 billion (£16.7 billion), in what was at the time one of the biggest leveraged buyouts on Wall Street.
Qualcomm is expected to conduct a strategic review that may result in the breakup of the company, among other options, the Wall Street Journal reports. The company has been under pressure from hedge fund Jana Partners to spin off its chip business from its highly profitable patent-licensing business.