- The White House is not ruling out providing government support for Toshiba's (OTCPK:TOSBF, OTCPK:TOSYY) bankrupt Westinghouse U.S. unit, Financial Times reports, as the Trump administration wants to make sure the U.S. remains a force in the nuclear industry as well as keep the assets out of Chinese or Russian hands.
- A senior White House official tells FT that the administration has held regular discussions about Westinghouse since the company entered Chapter 11 proceedings in March.
- Also, Energy Secretary Perry says the debate over how to deal with Westinghouse is broader than the company itself - “This is a massively important issue for the security of America and the security for America’s allies.”
- The U.S. nuclear industry’s future has been cast into doubt by the Westinghouse crisis, as the only new commercial reactors under construction in the U.S. are four Westinghouse AP1000s being built in Georgia and South Carolina for projects by Southern Co . (NYSE:SO) and SCANA (NYSE:SCG), respectively.
- ETFs: NLR, URA
- Now read: Uranium: Now Looks Like A Good Time To Buy
Original article