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EDF Energy will cut approx 150 jobs to get costs under control at Hinkley

TheGuardian.co.uk – 23/04/13 It is believed that EDF Energy will be cutting approximately 150 jobs, from the 800-strong workforce, at the site of the new power plant in an attempt to reduce…

Despite little growth, France narrowly avoids recession

Reuters.com – 09/04/13 Today, the French Central Bank has released forecasts, showing that the economy narrowly dodged a recession in the first quarter of this year. It is estimated that the second-biggest…

Green light for EDF for Hinkley Point C nuclear power plant

PowerEngineering.com – 21/03/13 The Department for Energy and Climate Change (DECC) has given EDF Energy the go ahead to construct the Hinkley Point C nuclear power plant worth approximately £14bn. Hinkley Point…

Portugal in their worst recession since 1975

GlobalPost.com – 11/03/13 A report released on Monday showed that the Portuguese economy contracted by 3.2%, its most severe annual decline in 37 years. Last month the national statistics institute Ine estimated…

France to cut €5bn in further public spending in 2014

Reuters.com – 08/03/13 On Friday, French Prime Minister Jean-Marc Ayrault announced that ministries are expected to cut a further €5billion next year. Last month, the government admitted that EU directed deficit ceiling…

Moody’s strips UK of Aaa rating and Osborne feels the pressure

Reuters.com – 22/02/13 The United Kingdom saw its first ever sovereign credit ratings downgrade from major rating agency, Moody’s on Friday. Moody’s downgraded the UK one notch from Aaa to Aa1,…

Euro zone to face shrinking economy again in 2013

Reuters.com – 22/02/13 On Friday, the European Commission announced that the EU will not experience growth until 2014. The European Commission have reversed their position from expecting growth in 2013, to now…

Low growth rates mean French will not meet deficit targets

Reuters.com – 13/02/13 The French government have admitted that they will not meet their deficit target of 3% of nominal GDP by the end of this year, an agreement that was made…

EDF ask Treasury for backing on Hinkley Point nuclear site

PowerEnergy.com – 11/02/13 EDF Energy are in talks with the British government over state backing of the nuclear site at Hinkley Point. EDF are asking Treasury to guarantee some of the costs…

Centrica pull out of future nuclear projects in the UK

BBC News – Véronique Guillermard – 04/02/13 Bristish Gas owners, Centrica, will not be involved in new nuclear projects in the UK. Centrica were offered a 20% stake in the four new reactors being…