Mitsubishi Corp.

19.63

-0.2200-1.11%

Post-market: 19.630.00000.00%16:01 EDT

Volume:145.97K

Turnover:2.86M

Market Cap:78.86B

PE:13.51

High:19.63

Open:19.61

Low:19.54

Close:19.85

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Quits China Metal Trading After Copper Fraud","url":"https://stock-news.laohu8.com/highlight/detail?id=2503519179","media":"Bloomberg","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2503519179?lang=en_us&edition=fundamental","pubTime":"2025-01-14 14:26","pubTimestamp":1736836007,"startTime":"0","endTime":"0","summary":" -- Japanese conglomerate Mitsubishi Corp. plans to shutter its Chinese metal trading business after suspected fraud by one of its copper traders led to a more than $90 million loss.The company will stop buying and selling refined metals and mineral resources in the Chinese spot market and will no longer provide related services for local companies, according to people familiar with the situation, who asked not to be named because the matter is private. The change won’t impact Mitsubishi’s imports and exports on behalf of Chinese clients managed from outside the country, they said.A Mitsubishi representative confirmed on Tuesday that the company would not conduct any new domestic transactions in China. It will, however, continue to export to and from China through other trading units.The loss is a compliance and risk management embarrassment for Mitsubishi, but it is a manageable financial blow. 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Six blue-chip stocks aggressively backed by Warren Buffett are on sale on Wall Street as the year draws to a close, mainly due to broad economic factors and stock market fashion.That makes them worth a look, even for lower-risk investors whose retirement accounts are mostly invested in standard low-cost mutual funds. Even allocating just a small percent of your portfolio to individual stocks, alongside funds, could nudge the performance dial over time.U.S. oil giant Occidental Petroleum  and Japanese conglomerates Mitsubishi , Sumitomo , Mitsui , Marubeni  and Itochi   have plunged in price lately and all of their shares can be bought easily in New York by U.S. investors. 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Six blue-chip stocks aggressively backed by Warren Buffett are on sale on Wall Street as the year draws to a close, mainly due to broad economic factors and stock market fashion.That makes them worth a look, even for lower-risk investors whose retirement accounts are mostly invested in standard low-cost mutual funds. Even owning just a few percent of your portfolio in individual stocks, alongside funds, could nudge the performance dial over time.U.S. oil giant Occidental Petroleum  and Japanese conglomerates Mitsubishi , Sumitomo , Mitsui , Marubeni  and Itochi   have plunged in price lately and all of whose shares can be bought easily in New York by U.S. investors. 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