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Latest Financial and Business News

  • World
    Associated Press Finance

    Biden administration will lend $1.5B to restart Michigan nuclear power plant, a first in the US

    The federal government will provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan, officials announced Wednesday. Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it. Gov. Gretchen Whitmer said it would be the first nuclear power plant to be reopened in the U.S. It still faces hurdles, including inspections, testing and the blessing of the U.S. Nuclear Regulatory Commission, known as the NRC.

  • Business
    Reuters

    COLUMN-US looks to reboot aluminium sector with a new smelter: Andy Home

    The U.S. is going to build its first primary aluminium smelter in 45 years. The Biden-Harris administration has awarded $500 million to Century Aluminum towards the construction of a new "green" low-carbon smelter. The aim is to halt what U.S. consumers such as Ford Motor and PepsiCo have described as a crisis in a sector that has shrunk from 19 to just four operating domestic plants over the last two decades.

  • Business
    Yahoo Finance

    Baltimore bridge collapse could cost Carnival $10 million this year

    Carnival could be looking at $10 million in costs as it re-routes its Baltimore operations to Norfolk, Virginia.