Latest news with #US155
The Advertiser
7 days ago
- Business
- The Advertiser
Kodak says it is confident it can meet debt obligations
The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading. The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading. The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading. The more than 130-year-old Eastman Kodak Co has expressed caution about its business operations but says it is confident it will be able to work out upcoming debt obligations. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Kodak said in a statement on Tuesday that the going concern language in its regulatory filing is essentially a required disclosure because its debt comes due within 12 months of the filing. "Kodak is confident it will be able to pay off a significant portion of its term loan well before it becomes due, and amend, extend or refinance our remaining debt and/or preferred stock obligations," the company said. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. Shares slid more than 20 per cent in midday trading.
7NEWS
7 days ago
- Business
- 7NEWS
‘Substantial doubt' Kodak can remain in business
The almost 150-year-old Eastman Kodak Co says there is 'substantial doubt' about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares in the photography company slid more than 13 per cent in early trading on Tuesday in the United States. 'Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms,' the company wrote in a regulatory filing. 'These conditions raise substantial doubt about Kodak's ability to continue as a going concern.' The Rochester, New York-based company said that it had $US155 million ($239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak chief financial officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
Perth Now
12-08-2025
- Business
- Perth Now
Kodak says 'substantial doubt' it can stay in business
The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. "These conditions raise substantial doubt about Kodak's ability to continue as a going concern." The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
The Advertiser
12-08-2025
- Business
- The Advertiser
Kodak says 'substantial doubt' it can stay in business
The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year. The more than 130-year-old Eastman Kodak Co says there is "substantial doubt" about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations. Shares of the photography company slid more than 13 per cent in early trading on Tuesday in the United States. "Kodak has debt coming due within 12 months and does not have committed financing or available liquidity to meet such debt obligations if they were to become due in accordance with their current terms," the company wrote in a regulatory filing. The Rochester, New York-based company said that it had $US155 million ($A239 million) of cash and cash equivalents as of June 30, with $US70 million held within the US. Last year Kodak said that it would end its retirement income plan in order to pay down debt, according to The Wall Street Journal. Kodak Chief Financial Officer David Bullwinkle said in a statement on Monday that the company expects to know by Friday how it will satisfy its obligations to pay all pension plan participants and foresees completing the reversion by December. Founded by George Eastman in 1880, Eastman Kodak Co is credited with popularising photography at the start of the 20th century and was known all over the world for its Brownie and Instamatic cameras and its yellow-and-red film boxes. It was first brought down by Japanese competition and then an inability to keep pace with the shift from film to digital technology. Kodak filed for bankruptcy protection in 2012 after struggling with increasing competition, continuing growth in digital photography and growing debt. The company wound up selling off many of its businesses and patents while shutting down the camera manufacturing unit that first made it famous. It received approval for its plan to emerge from court oversight a year later. At the time, Kodak was looking to recreate itself as a new, much smaller company focused on commercial and packaging printing. Kodak is now nearing completion on a manufacturing plant to create regulated pharmaceutical products. The company already makes unregulated key starting materials for pharmaceuticals. Production at the retrofitted facility is expected to start later this year.
Yahoo
08-04-2025
- Business
- Yahoo
US says willing to talk to other countries on tariffs
The United States says 104 per cent duties on imports from China will take effect shortly after midnight even as US President Donald Trump's administration moved to quickly start talks with other trading partners targeted by his tariff plan. US stocks retreated on the news. Global markets had previously posted gains on hopes that Trump might be willing to negotiate down the array of country and product-specific trade barriers he is erecting around the world's largest consumer market. The administration has scheduled talks with South Korea and Japan, two close allies and major trading partners, and Italian Prime Minister Giorgia Meloni is due to visit next week. But the White House made clear that country-specific tariffs of up to 50 per cent would nevertheless take effect at 12.01am Eastern Time (2pm on Wednesday AEST), as planned. Those tariffs will be especially steep for China, as Trump has ratcheted up duties on its imports to 104 per cent in response to counter-tariffs Chinese officials announced last week. Administration officials said they would not prioritise negotiations with China, the world's No. 2 economic power. Trump's sweeping tariffs have raised fears of recession and upended a global trading order that has been in place for decades. "Right now, we've received the instruction to prioritise our allies and our trading partners like Japan and Korea and others," White House economic adviser Kevin Hassett said on Fox News. .@PressSec: "The reciprocal tariff rates that were implemented by country were focused on the monetary tariff that those countries have imposed on the U.S., but also the non-monetary tariff barriers... moving forward, @POTUS will talk to any country that picks up the phone to… — Rapid Response 47 (@RapidResponse47) April 8, 2025 The White House said Trump instructed his trade team to create "tailor made" deals for the nearly 70 countries that have reached out for talks. "The president will talk to any country that picks up the phone to call, and I can tell you, the phones have been ringing off the hook," White House spokeswoman Karoline Leavitt told reporters on Tuesday. Trump's lead trade negotiator, Jamieson Greer, told Congress that his office is trying to work quickly but is not facing a particular deadline. "The president has been clear, again, that he's not doing exemptions or exceptions in the near term," Greer told a hearing. China is bracing for a war of attrition, and manufacturers are warning about profits and scrambling to plan new overseas plants. Citing rising external risks, Citi cut its 2025 China GDP growth forecast to 4.2 per cent from 4.7 per cent. Chipmaker Micron told customers it will impose a tariff-related surcharge starting on Wednesday while US clothing retailers said they are delaying orders and holding off on hiring. Running shoes made in Vietnam that retail for $US155 ($A256) will cost $US220 when Trump's 46 per cent tariff on that country takes effect, according to an industry group. Consumers are stocking up while they can. "I'm buying double of whatever - beans, canned goods, flour, you name it," Thomas Jennings, 53, said as he pushed a shopping cart through the aisles of a New Jersey Walmart. Stock markets found a firmer footing on Tuesday after a gut-wrenching few days for investors which prompted some business leaders, including those close to Trump, to urge the president to reverse course. European shares bounced off 14-month lows after four straight sessions of heavy selling while global oil prices steadied after falling to four-year lows. Wall Street's main indexes had posted gains earlier in the day but fell after the White House said the tariffs on China would take effect. The European Commission, meanwhile, is mulling counter-tariffs of 25 per cent on a range of US goods including soybeans, nuts and sausages although other potential items like bourbon whiskey were left off the list. Officials said they stood ready to negotiate.
