Nuclear company Westinghouse has filed for bankruptcy after posting huge losses. It is the latest setback to hit its troubled parent company.
Japan's troubled Toshiba has failed to present its annual earnings report, saying auditors have yet to approve results reported to them from the previous quarter. Fears of the firm's delisting are still real.
Shares in Japanese conglomerate Toshiba have fallen sharply on the Tokyo Stock Exchange. The renewed steep drop came after a report saying the firm's US nuclear unit could be placed into bankruptcy protection.
Construction work on two nuclear reactors in South Carolina has been halted due to cost overruns. The first new US plants to be built in two decades fell victim to the bankruptcy of Westinghouse earlier this year.
Beleaguered Japanese conglomerate Toshiba faces an existential threat after the announcement of huge nine-month losses. The company's downturn is linked to Westinghouse, Toshiba's US nuclear unit, filing for bankruptcy.
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