U.S. Agency Sidelines Planned $765 Million Loan to Kodak Amid Probes

WASHINGTON—A federal agency has put a planned $765 million loan to Eastman Kodak Co. on hold after the deal came under congressional and regulatory scrutiny. The U.S. International Development Finance Corp. announced plans last month to loan Kodak the funds to produce drug ingredients at its factories. But in a tweet late Friday, the agency…

WASHINGTON—A federal agency has put a planned $765 million loan to Eastman Kodak Co. on hold after the deal came under congressional and regulatory scrutiny.

The U.S. International Development Finance Corp. announced plans last month to loan Kodak the funds to produce drug ingredients at its factories. But in a tweet late Friday, the agency said that “recent allegations of wrongdoing raise serious concerns. We will not proceed any further unless these allegations are cleared.” The action was earlier reported by other news…

Read More

Related articles

Chile Government Declares State of Emergency Amid Subway Riots

Need help? Contact us We’ve detected unusual activity from your computer network To continue, please click the box below to let us know you’re not a robot. Why did this happen? Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review…

U.S. Travel Restrictions Fuel Fresh Global Selloff

U.S. stocks plunged Thursday in their worst day since the 1987 crash. The Dow Jones Industrial Average fell 10%, and the S&P 500 and Nasdaq tumbled nearly as much to join the Dow in a bear market. The furious falls in share prices on rising fears of a global slowdown due to the rapid spread…