News That Matters

Tag: project

Brexit: Conservative anger at Philip Hammond's 'dodgy project fear'

Brexit: Conservative anger at Philip Hammond's 'dodgy project fear'

Business
Media playback is unsupported on your device Brexiteers have attacked Philip Hammond for reiterating a warning that a "no-deal" Brexit could damage the economy. The chancellor's warning was published in a letter, hours after the government laid out plans for a "no-deal" Brexit. Conservative MP Marcus Fysh accused Mr Hammond of embarking on "another instalment of dodgy project fear".Meanwhile, the World Trade Organization head has told the BBC no deal "would not be the end of the world...but it's not going to be a walk in the park". What do the Brexit 'no deal' papers reveal? Reality Check: What would 'no deal' look like? In a letter published on the Treasury website, Mr Hammond repeated the findings of the Treasury's provisional Brexit analysi...
UK 'considering rival' to EU Galileo project

UK 'considering rival' to EU Galileo project

Technology
The UK is considering launching its own satellite navigation system to rival the EU's Galileo project after being shut out of key elements of the programme, according to reports.It comes after a row with Brussels over whether Britain can be trusted with sensitive European security information after the country voted to leave the bloc, the Financial Times reported.Galileo is the EU's Global Satellite Navigation System (GNSS) which provides accurate positioning and timing information.Business Secretary Greg Clark is reportedly taking legal advice on whether the UK Government can recoup the €1.4bn (£1.2bn) it has invested in the programme since 2003.Image:A UK Government official reportedly said the EU was 'playing hardball'Mr Clark warned the European Commission's actions could threaten cont
Nuclear fusion project hails halfway construction milestone

Nuclear fusion project hails halfway construction milestone

Technology
A vast international experiment designed to demonstrate that nuclear fusion can be a viable source of energy is halfway toward completion, the organization behind the project said Wednesday. Construction of the International Thermonuclear Experimental Reactor, or ITER, in southern France has been dogged by delays and a surge in costs to about 20 billion euros ($ 23.7 billion). ITER's director-general, Bernard Bigot, said the project is on track to begin superheating hydrogen atoms in 2025, a milestone known as "first plasma." "We have no contingency plan," he told The Associated Press in a phone interview from Paris. Scientists have long sought to mimic the process of nuclear fusion that occurs inside the sun, arguing that it could provide an almost limitless source of cheap, safe and cle...
​600 homebuyers join hands, bid for completing a part of Jaypee project

​600 homebuyers join hands, bid for completing a part of Jaypee project

Finance
NEW DELHI: Among the 20-odd bidders for insolvency-hit Jaypee Infratech’s housing, hospital and road projects, including some top names from India Inc, there is an entity with no experience of construction and probably no documents to show its net worth -- a group of flat buyers from Kasa Isles who are pitching to take over some of the apartment blocks and construct it themselves. Over 600 buyers from the 16 towers of the project in Noida’s Sector 129 have come together under the umbrella of Kasa Isles Welfare Association and submitted their proposal to the resolution professional appointed by the National Company Law Tribunal. Now, they have approached the insolvency resolution professional with a formal offer. Aman Behal, a core committee member, said the association will need around
Canadian regulator closes books on TransCanada project

Canadian regulator closes books on TransCanada project

Business
Oct. 6 (UPI) -- A federal regulator in Canada confirmed it closed its files on the Energy East oil pipeline after planner TransCanada folded its tent on the project.The National Energy Board was among the last in the line of official bodies in Canada to weigh in on TransCanada's decision to shelve a multibillion dollar pipeline project for eastern provinces. The NEB confirmed late Thursday it received notice that TransCanada was withdrawing its applications."The NEB has no further work to complete on these projects and the hearing record is now closed," the regulator said.TransCanada last month called on the NEB to suspend its review of the project after the regulator published a lengthy list of issues ranging from greenhouse gas emissions to the risk of an oil spill that could determine w...