Ed Davey defends state-subsidised EDF-Chinese nuclear reactors October 21, 2013 The British government and French utilities company EDF have signed a deal to build two nuclear reactors totalling £16bn at Hinkley, Somerset. The new reactors will be built at Hinkley Point C, with the assistance of EDF's Chinese partners, China General Nuclear Power Group and China National Nuclear Corporation. The Department for Energy and Climate [...]
We are signing up to decades of over-priced electricity. Why? October 21, 2013 OUR energy policy is going from bad to worse. Not only are our bills already rocketing, largely as a result of a flurry of costly UK and EU green initiatives, but we are about to lock in high prices for decades to come by signing up to a fresh supply of horrendously over-priced nuclear electricity. [...]
Huge subsidies to kickstart new UK nuclear plant October 20, 2013 A DEAL to build Britain’s first nuclear power station for two decades is expected to be revealed today after a year of negotiations over subsidies to be paid to the operators. French energy firm EDF and the Department for Energy and Climate Change (DECC) will host the unveiling of Hinkley Point C today. EDF’s long-time [...]
Q and A: China’s nuclear fusion with Britain October 20, 2013 Q Why is a French firm teaming up with China to build power plants in Britain? A EDF has wanted to build a third nuclear station at Hinkley Point for years, but has been searching for a new investor after UK-listed Centrica quit in February. China has enough cash to get involved in pretty much [...]
City Matters: Tangible steps forward in the UK-China relationship will deliver real benefits October 20, 2013 WITH both George Osborne and Boris Johnson flying the flag for British business in China last week, it is worth taking stock of this increasingly important UK-Sino relationship. As the government rightly recognises, the UK and London need to be plugged into fast-growing global markets like China in order to succeed in the global race. [...]
An absent US resolution leaves commodities gloomy October 18, 2013 With no enduring resolution to the US debt ceiling debate, commodities will remain in the doldrums, says Goldman Sachs. The investment bank warns that the uncertainty around the debt ceiling is being viewed as an extension of QE, with delays on a tapering decision complicating the Fed's reaction function. It isn't clear whether the absence [...]
Confirmation of high Chinese growth lifts European markets October 18, 2013 The Chinese economy has posted a thumping 7.8 per cent annual growth for the third quarter of 2013. That's in-line with consensus forecasts, and an acceleration from the 7.5 per cent growth posted last quarter. Unless the fourth quarter sees a ghastly GDP number, China will hit the government's target of 7.5 per cent growth [...]
What you need to know before the open – 18/10 October 18, 2013 Markets in Europe are expected to open up this morning following another record close on the S&P500 last night. With a 16-day shutdown over and the possibility of a default put off for the time being, taper talks are resuming in the US but it's unlikely that anything will happen before the next debt ceiling [...]
Subsidy fears as UK inks nuclear deal with China October 17, 2013 THE COALITION’S nuclear plans gained further momentum yesterday, after chancellor George Osborne said Chinese companies are allowed to buy a stake in British nuclear power plants. But it is thought that any deals will include indirect price subsidies that could trickle down to taxpayers over the 35-year life of the plant. Osborne made the announcement [...]
Snookering the housing market October 17, 2013 DESPITE widespread scepticism around George Osborne’s Help to Buy scheme, the chancellor could be forgiven for not expecting his most recent critic’s comments. In a break from training for his upcoming Chinese tournament, five-time and current snooker world champion Ronnie O’Sulllivan took to Twitter, voicing a strong criticism of the UK’s housing market. “The new [...]