British American Tobacco announced a substantial writedown of about GBP25B for some US brands, resulting in a steep selloff.

Source: https://seekingalpha.com/article/4656789-british-american-tobacco-washed-out-selloff-unveils-golden-buying-opportunity?source=feed_all_articles

By way of a brief recap, HMD Global emerged from the ashes of Microsoft’s ill-conceived Nokia devices acquisition a decade ago, a move that spawned a $7 billion “goodwill” writedown following Satya Nadella’s promotion to the CEO hot seat.

Source: https://techcrunch.com/2023/10/03/nokia-hmd-global-europe-smartphone/

The writedown reflected decreased profitability, it said.

Source: https://business.inquirer.net/400410/japans-sharp-tumbles-to-1-9-b-loss-on-hefty-writedown