Toshiba

 Toshiba's loss-hit US nuclear unit Westinghouse Electric has filed for bankruptcy protection, the companies said Wednesday, as the troubled division wrestles with multi-billion-losses and accounting fraud claims.

The Japanese conglomerate's board earlier in the day gave Westinghouse the green light to make a Chapter 11 filing in a US court, which temporarily shelters struggling firms as they try to restructure their affairs and outstanding debts.