US nuclear developer on the brink of bankruptcy

Major US nuclear giant Westinghouse Electric will file for bankruptcy protection, while its Japanese parent company faces a worsening crisis.

Photo: Carolyn Kaster/AP/Ritzau

Japan's Toshibi continues is still battling. Over the past few months the company has faced huge problems due to economic uncertainty in its US subsidiary Westinghouse, which develops power plants.

Now, the latter seems to have finally run out of steam. According to CNBC, Westinghouse Electric will file for bankruptcy protection within a few days. This has been confirmed by Japanese media, which writes that the board in Toshiba has approved the application.

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