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Toshiba's Westinghouse Unit Files for Bankruptcy Protection

Westinghouse Electric Company filed for Chapter 11 bankruptcy protection Wednesday, saying it needed to restructure because of "certain financial and construction challenges" from its nuclear power plant projects. The company has struggled with cost overruns and delays with the plants. Parent company Toshiba warned in February it would need to take a $6 billion write-down on its estimated value of Westinghouse. Toshiba said in a statement about the bankruptcy filing that...

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