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...whopping $2.4 billion write-down linked to construction troubles with its Finland reactor. The Finnish project was supposed to showcase Areva's third-generation earthquake- and missile-proof design, known as a European Pressurized Reactor (EPR). Areva beat out Westinghouse and General Electric-Hitachi in 2003 to win a contract with Finland's main utility Teollisuuden Voima Oyj (TVO) to build the plant. GE-Hitachi, Mitsubishi and Westinghouse all sell their own third-generation reactors, which are more efficient and safer than previous designs. But Areva's EPR boasts innovations that led the U.S.-based Union of Concerned Scientists...
...months that American journalists Euna Lee and Laura Ling have been held captive in North Korea, there has been one constant amid the rumors swirling around the case: the North Koreans wanted a high-powered emissary to come from the U.S. to try to win the release of the prisoners - and, no doubt, listen to whatever else it was that Pyongyang had to say about the dismal state of relations between the two countries. For a while, speculation centered on former Vice President Al Gore, who in 2004 co-founded Current TV, the network the two journalists work...
...quality of dealing with North Korea. "They've repeated the same pattern over the past two decades," says Yun Duk-min of the Institute of Foreign Affairs and National Security in Seoul, a Foreign Ministry think tank. Ratchet up the nuclear tensions, declare diplomacy dead, and then hope to win even bigger concessions as talks reconvene later. But since taking office, Obama has proved no slouch at playing the game from the other side. In the wake of the nuclear test this past spring, the President dropped the rhetoric of engagement, went to the U.N. for new economic sanctions against...
...everyone sees the program as a win-win. Economist David Rosenberg at Toronto investment firm Gluskin Sheff worries that today's sales boost could lead to tomorrow's sales slump. He likens the current cash-for-clunker boost to the 0% financing that automakers introduced in the aftermath of the 9/11 attacks in 2001. As a result of those incentives, motor-vehicle sales perked up and the economy got a nice boost. "But what all these gimmicks do is bring forward consumption - they don't create anything more than a brief spending splurge at the expense of future performance," Rosenberg...
...Sunday, an influential panel of British politicians released a critical report on British involvement in Afghanistan, concluding that the effort to win the war has been hampered by unrealistic planning, a lack of coordination between the military and diplomatic corps and the absence of a clearly defined mission. The report says Britain's goal of fighting terrorists has been diluted by the competing aims of counterinsurgency, counternarcotics, protection of human rights and state-building. (See pictures of a British unit in Afghanistan...