Toshiba’s dreams of becoming a nuclear energy leader have turned into a nightmare.
https://www.theguardian.com/business/2015/nov/05/toshiba-braces-for-massive-losses-following-accounting-scandalRattled investors have wiped $6.6 billion off the company’s market value after it warned of huge losses tied to its 2015 acquisition of a U.S. nuclear construction business.
Shares in the Japanese firm tumbled another 17% on Thursday. Losses over the past three trading sessions now total 42%, fueled in part by credit rating downgrades by Moody’s and S&P Global Ratings.
