Westinghouse Electric

Struggling Westinghouse Electric sold to Brookfield for $4.6 bn

Georgia - Muslimchronicle

Financially-troubled Westinghouse Electric announced Thursday it agreed to be sold to Brookfield Business Partners for $4.6 billion, pending approval by a US bankruptcy court. Westinghouse, owned by Japan's Toshiba since 2006, has faced deep losses due to its stalled nuclear business, including cancelled plants in South Carolina. As a result, the company filed for bankruptcy protection in March 2017. Brookfield,Read more

Toshiba reports long-delayed earnings, posts $8.8 bn loss

Tokyo - Muslimchronicle

Toshiba on Thursday met a deadline to report its long-delayed financial results, saying it lost around $8.8 billion in its last fiscal year over its hard-hit US nuclear unit Westinghouse Electric. The move by one of Japan's best-known firms greatly reduces the chance its shares will be yanked from the Tokyo Stock Exchange. Read more

Toshiba shares jump as delisting fears ease

Tokyo - AFP

Toshiba shares jumped Wednesday on expectations it will meet a deadline to submit long-delayed earnings to financial regulators, easing fears the troubled conglomerate's stock will be yanked from the Tokyo Stock Exchange. The shares soared more than nine percent in early trading, before closing at 290 yen, up 3.20 percent. There were growing worries that Toshiba, one of Japan's best-knownRead more

Toshiba company dives on nuclear woes

Tokyo - Arab Today

Shares in troubled conglomerate Toshiba dived again Friday as Standard & Poor’s (S&P) warned it may cut its credit rating while a possible savior of the Japanese firm’s loss-hit nuclear unit reportedly ruled out any rescue deal. Investors have sliced more than 20 percent off its Tokyo-listed stock this week as Toshiba warned of huge losses and possible accounting fraudRead more

Nasdaq hits record, Toshiba plunges

New York - Arab Today

The Nasdaq finished at a fresh record Tuesday, boosted by strong US consumer data and a gain by Amazon, while the Dow again failed to cross 20,000 points. Equity markets were mixed elsewhere, with a sharp fall in Toshiba shares pressuring the Nikkei in Tokyo. In Europe, Frankfurt and Paris scraped out gains in thin trading while London remained shutRead more