TROUBLED NUCLEAR UNIT
Investors read Toshiba the riot act over losses
Investors react to the record annual loss for a Japanese manufacturer, mainly tied to its troubled US nuclear power unit Westinghouse
31 March 2017 - 10:20
Chiba, Japan — Angry investors lambasted Toshiba executives at a shareholder meeting on Thursday after it warned annual losses could balloon to more than $9bn but they agreed to the sale of its memory chip business, the jewel in the giant’s crown. The heated meeting came a day after the conglomerate said its troubled US nuclear power unit Westinghouse Electric had filed for bankruptcy protection.
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