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.

Go deeper

Trump's new TikTok threat

Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images

President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.

Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.

Ford names James Farley as new CEO amid ongoing turnaround effort

James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford

Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.

Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.

Updated 3 hours ago - Politics & Policy

Watch the full "Axios on HBO" interview with President Trump

In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.

The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.