August 10, 2020

Kodak shares slump as US loan is suspended

New York (AFP) – Shares of Kodak plunged Monday after a US agency suspended a loan intended to support the former photo giant’s launch of a new pharmaceutical venture.The US International Development Finance Corporation’s (DFC) said Friday it will halt further action following controversy that has surrounded its July 28 announcement of a $765 million loan to Kodak.The loan is part of a program to boost US pharmaceutical capacity in the wake of the coronavirus pandemic.Shares of Eastman Kodak dove 28.3 percent to $10.67 in afternoon trading.The Wall Street Journal has reported that the Securiti…

source https://this.kiji.is/en/665649797727274081?c=648607265489716321

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