May 24, 2018

U.S. and 8 other countries form new coalition to push nuclear power

Photo: Stan Honda/AFP/Getty Images

The U.S. is heading a newly formed alliance with several other nations that will "promote nuclear power and encourage investment in new nuclear technologies," Reuters reported Thursday.

Why it matters: The announcement at an energy summit in Denmark comes as nuclear power faces headwinds in the U.S. and elsewhere, despite the need for zero-carbon electricity sources to help meet challenging international climate goals.

  • The most recent forecasts from the federal Energy Information Administration project modest global nuclear generation growth of 1.5% annually through 2040. China and India, in particular, are expected to see significant increases while U.S. output is slated to drop as plants retire.

One level deeper: The other countries are Japan, Canada, Russia, South Africa, the United Arab Emirates, Poland, Argentina and Romania, per Reuters.

  • "The group of nations aims to promote areas such as improved power system integration and the development of technologies like hybrid nuclear-renewable systems," they report.
  • Deputy Energy Secretary Dan Brouillette said one focus will be development of small modular reactors.

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Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,200 people and infected over 75,465 others, mostly in mainland China, where the National Health Commission announced 118 new deaths since Thursday.

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SoftBank to cut its stake to get T-Mobile's Sprint deal done

Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.