Toshiba Projects $9.2B Loss For Fiscal Year 2016

Japanese conglomerate Toshiba, owner of U.S.-based nuclear power giant Westinghouse Electric Company, released their twice-delayed financial report for the third fiscal quarter of 2016 on Tuesday, projecting losses of $9.2 billion for the year. The figures, which were not signed off on by the company's auditor, is based on a $4.8 billion loss for the first nine months of the year, plus skyrocketing losses at Westinghouse due to that company's Chapter 11 bankruptcy protection filing, Toshiba said.(read more)