Companies are buying backs shares, need good reasons, says Pirc

Companies should stop buying up their own shares unless they can show why it is a good idea, a leading advisory firm has told the BBC.

Companies should explain why they are buying and cancelling their own shares and not paying more dividend or using cash to expand their businesses, Pirc told the BBC's Today programme.

Toshiba shares rally on Prospect of New Loans

Toshiba shares rallied more than 10% on Thursday on reports the firm was about to secure substantial new loans for its restructuring efforts. 

 

The company is in talks with several Japanese lenders over money it needs to reorganise its business in the wake of a massive accounting scandal.

The embattled electronics giant is hoping for loans of up to 250bn yen ($2.2bn; £1.6bn), said Nikkei daily.