The 11th annual Financial Literacy Fair will be held by the Department of Commerce and Consumer Affairs Office of the Securities Commissioner on Wednesday from 10 a.m. to 1 p.m. at Tamarind Park at Bishop Square in Honolulu.

The free event will feature various government agencies and nonprofit organizations that will provide materials on saving and investing, insurance, homeownership preparation, dealing with credit, planning for retirement, tips on preventing financial fraud and more.

Toshiba files Chapter 11, expects $4.3B loss

TOKYO >> Japan’s embattled Toshiba Corp. said Wednesday that its U.S. nuclear unit Westinghouse Electric Co. has filed for bankruptcy protection, marking a key step in its struggles to stop the flow of massive red ink.

Toshiba said in a statement that it filed the Chapter 11 petition in the U.S. Bankruptcy Court of New York. The move had been largely expected.

Toshiba has said it’s expecting a loss of $4.3 billion for April-December of last year, including a $6.2 billion hit from its embattled nuclear business. It said Wednesday that it was working out revised numbers, and warned that the loss for the fiscal year may grow to $9 billion.

Toshiba acquired Westinghouse in 2006 with much fanfare, making nuclear power an important part of its business strategy.

After the March 2011 nuclear disaster in Fukushima, costs of the business have ballooned because of growing safety concerns and regulations, and a souring of sentiment toward nuclear power in some countries, such as Germany.

ON THE MOVE

Coldwell Banker Pacific Properties has hired the following new independent agents for its Leeward office:

>> Realtor associate Mighty Binonwangan, previously a project designer at Urban Works Inc.

>> Realtor associate Mel A. Gonzales, previously from Honland Realty, as well as U.S. Postal Service retiree and a Marine Corps veteran

>> Realtor associate Antonnietta M. Palacio, previously from Locations LLC with more than 26 years experience in real estate.

>> Hilton Hawaiian Village Waikiki Beach Resort has announced that Sheila Newman is the new senior events manager for the resort. She has more than 15 years of event management experience, including previously serving as a senior event manager for Chicago Marriott O’Hare as well as director of event services at Chicago’s Warwick Allerton Hotel.