Word: finlandized
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Areva has soared on nuclear's second coming. But its 2008 profits--$824 million on $18.4 billion in sales--were down 17% from 2007, owing mostly to a whopping $2.4 billion write-down linked to construction troubles with what is supposed to be its leading-edge Finland reactor...
...project for Finland's main utility, Teollisuuden Voima Oyj, is designed to showcase Areva's 3G earthquake- and missile-proof design, known as a European Pressurized Reactor. Areva spokesman Jacques-Emmanuel Saulnier said winning the contract over Westinghouse and GE-Hitachi was crucial to establishing the firm as the leader in advanced nuclear tech. "You only see how it works once you've built it and proved it's what you'd said it would be," he said. "That's why winning the Finnish contract and building the world's first third-generation reactor is so important...
...Sweden, Denmark and Finland all imposed similar levies as early as the 1990s, but France - should its lawmakers approve the plan - will become the biggest country yet to try taxes to slow global warming. Initially set at $25 per ton of emitted carbon dioxide (CO2), the tax on the use of oil, natural gas and coal would nudge up the cost of a liter of petrol by $0.06 ($0.23 a gallon), Sarkozy said, and diesel by a little more, helping generate roughly $4.4 billion in annual revenues. A pledge to return that money to taxpayers through various new rebates...
...July, the Russian-manned cargo ship the Arctic Sea disappeared on its way to take timber from Finland to Algeria, sparking reports of the first incident of piracy in European waters since the days of the buccaneers. Experts and observers weighed in with their theories: the ship had been snatched in a commercial dispute; it was being used to run drugs; it was carrying something more precious - or dangerous - than timber...
...official explanation coming out of Moscow is simple enough: the Arctic Sea, manned by a Russian crew, set sail from Finland under a Maltese flag on July 22. It was destined for Algeria and carried less than $2 million worth of timber. Then a group of eight Russian and former Soviet hijackers boarded the ship on July 24. The ship's tracking device was disabled in the last days of July, as it passed through the English Channel into the Atlantic, and the ship disappeared. On Aug. 12, the Russian navy sent out a search party. A week later, Russia...