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Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

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Toshiba Corp. Declares Bankruptcy for Westinghouse

March, 29 2017
watermark Economic news

Nuclear energy firm Westinghouse has been declared bankrupt by the board of Toshiba Corp. after the Japan-based firm approved a Chapter 11 bankruptcy filing for Westinghouse after Toshiba had previously cautioned of a prospective writedown worth $6.2 billion on the said firm as reported by Nikkei. Prior to this particular development, Westinghouse had been experiencing project delays both in South Carolina and Georgia and this has inevitably led to the said writedown. Westinghouse technology currently makes up for half of  the world’s atomic units.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.