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Monday, December 23rd, 2024
| Time | Event |
| 5:34a | France Adds First New Nuclear Reactor to Its Grid Since 1999 Saturday France connected a new nuclear reactor to its grid "for the first time in a quarter century..." reports Bloomberg, "adding low-carbon electricity supply at a time when a sputtering economy has made demand sluggish." The Flamanville-3 reactor — the first such addition since Civaux 2 was connected in 1999 — will join EDF's fleet of 56 reactors in France, which generate more than two-thirds of the country's electricity and are the backbone of western Europe's power system. When fully ramped up, the new unit will provide a stable source of supply, which can be particularly useful during peak hours in the winter. Increased nuclear output will also curb the use of gas-fired power stations. France is set for record power exports in 2024 as local demand remains subdued and it keeps adding renewable capacity. Better generation from EDF's nuclear fleet is also helping keep a lid on wholesale prices, partly reversing bill increases caused by Europe's energy crisis. The Flamanville-3 reactor in the country's northwest adds 1.6 gigawatts of output, raising France overall atomic capacity to about 63 gigawatts... Since construction started in 2007, its budget — excluding finance costs — has quadrupled to an estimated €13.2 billion ($13.9 billion). The yearslong saga has created lasting doubts about the French nuclear industry's ability to build reactors on time and on schedule — a crucial issue as it prepares to build at least six large plants in the country. EDF's ongoing work on two similar reactors in the UK has also suffered repeated delays and cost overruns, complicating the British government's effort to raise funds for the construction of another pair of EPRs. 
Read more of this story at Slashdot. |
| 4:01p | Xerox To Buy Printer Maker Lexmark From Chinese Owners in $1.5 Billion Deal Xerox has agreed to acquire printer maker Lexmark for $1.5 billion, bringing the Kentucky-based company back under U.S. ownership after seven years of Chinese control. The deal, announced Monday, will be financed through cash and debt, creating a vertically integrated printing equipment manufacturer and service provider. Lexmark, formed from IBM in 1991, was previously acquired by Chinese investors including Ninestar for $2.54 billion in 2016. The merger comes as Xerox faces declining equipment sales and a 50% year-to-date stock drop, with its market value at just over $1 billion.
Read more of this story at Slashdot. |
| 10:40p | US Targets China With Probe Into Semiconductor Industry The Biden administration has launched a Section 301 investigation into China's semiconductor industry, citing concerns over non-market practices, supply chain dependencies, and national security risks. The Hill reports: In a fact sheet, the White House said China "routinely engages in non-market policies and practices, as well as industrial targeting, of the semiconductor industry" that harms competition and creates "dangerous supply chain dependencies." The Biden administration said the Office of the United States Trade Representative would launch a Section 301 investigation to examine China's targeting of semiconductor chips for dominance, an effort to see whether the practices are unfairly hurting U.S. trade and take potential action. The investigation will broadly probe Chinese nonmarket practices and policies related to semiconductors and look at how the products are incorporated into industries for defense, auto, aerospace, medical, telecommunications and power. It will also examine production of silicon carbide substrates or other wafers used as inputs for semiconductors. The probe launches four weeks before President-elect Donald Trump takes office. "The effort could offer Trump a ready avenue to begin imposing some of the hefty 60% tariffs he has threatened on Chinese imports," notes Reuters. "Departing President Joe Biden has already imposed a 50% U.S. tariff on Chinese semiconductors that starts on Jan. 1. His administration also has tightened export curbs on advanced artificial intelligence and memory chips and chipmaking equipment."
Read more of this story at Slashdot. |
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