| May 12, 2009 |  |
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EDF, Centrica sign deal to 'relaunch' nuclear power in Britain Paris (AFP) May 11, 2009 
France's state-owned EDF and Britain's Centrica announced on Monday a long-awaited joint venture aimed at relaunching nuclear energy in Britain. EDF, the world's biggest nuclear energy producer, also said it would buy 51 percent of the Belgian electricity company SPE from Centrica for 1.3 billion euros (1.8 billion dollars), the companies said in a joint statement. The deal with Centrica ... read moreUS deficit forecasts rise by nearly 90 billion dollars 
Washington (AFP) May 11, 2009The White House Monday raised 2009 and 2010 deficit forecasts by nearly 90 billion dollars, reflecting costs of the worst economic crisis in generations, in a finalized 3.6 trillion dollar budget. The administration released new projections for the federal government budget for the fiscal year 2010 beginning in October, a week after announcing 17 billion dollars in deficit-reducing cuts to ... more
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US-Canadian Shale Could Neutralize Russian Energy Threat
Houston TX (SPX) May 12, 2009Rising shale gas production in the United States and Canada as well as potential natural gas supplies from Iraq could be pivotal in curbing Russia's ability to organize an "energy weapon" against European consumers, according to a new study released by Rice University's Baker Institute for Public Policy. The study, "Russia and the Caspian States and the Global Energy Balance," examines Rus ... more Report Examines Limits Of National Power Grid Simulations 
Argonne IL (SPX) May 12, 2009America's power grid today resembles the country's canal system of the 19th Century. A marvel of engineering for its time, the canal system eventually could not keep pace with the growing demands of transcontinental transportation. More than 150 years later, America's infrastructure is again changing in ways that its designers never anticipated. Distributed and intermittent electrici ... more Walker's World: Is this a recovery? 
Washington (UPI) May 11, 2009 There is no doubt that the pace of decline in trade, industrial output and in gross domestic product shrinkage has slowed in the major economies. World stock markets are rising, and the rise in unemployment in the United States is slowing. The trough of this crisis may be in sight. But is this yet a recovery? And if so, can it be sustained? It depends what you mean by recovery. There ar ... more  |
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Major Oil Supply Disruption Poses Risk To US National Security
Washington DC (SPX) May 12, 2009While on a net basis the United States imports nearly 60 percent of the oil it consumes, this reliance on imported oil is not by itself a major national security threat, according to a RAND Corporation study. The study finds that the economic costs of a major disruption in global oil supplies - including higher prices for American consumers - pose the greatest risk to the United States. ... more HSBC says profits rise, sees 'robust' growth in China 
London (AFP) May 11, 2009Global banking giant HSBC said on Monday that profits were rising strongly on the basis of first-quarter data and it saw "robust" growth in China and India, while remaining cautious for the year. First-quarter pre-tax profits were "well ahead" of the figure for the same period of last year, the bank said, bouncing back despite the world financial crisis. The group gave a cautious outlook ... more GE makes large donation to US Shanghai Expo efforts 
Shanghai (AFP) May 11, 2009General Electric has given US efforts to raise the 60 million dollars needed to ensure a national pavilion at the 2010 Shanghai World Expo a massive boost, organisers said Monday. Fundraising problems have meant the United States is one of only three countries -- along with Andorra and Colombia -- that have diplomatic relations with China but have not confirmed participation at next year's ... more Chinese hurt in PNG nickel mine attack: reports 
Port Moresby (AFP) May 11, 2009Several Chinese staff were injured in a rampage by Papua New Guinea mine workers who trashed vehicles and equipment at a major nickel project, reports and management said Monday. The violence on Friday halted construction work at the 1.37 billion US dollar Chinese-run Ramu mine's Basamuk refinery site in Madang on the northern coast of the Pacific nation. "There was a lot of damage cause ... more |
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