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Nikkei learns of plans to build next-generation Japan NPP

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Japan NPP

Prime Minister Fumio Kishida will order the preparation of a construction project at the Japan NPP at a government meeting on August 24, Nikkei wrote, citing its own sources.

Kishida believes the move will help reduce carbon emissions – Japanese authorities want to bring them down to zero by 2050. Also, the measure will increase electricity production, and avoid the risk of its deficit, writes the edition.

Specific steps in this direction and timing of the project the government will submit by the end of the year. In total, starting from the summer of 2023, the authorities intend to restart 17 Japanese nuclear power plants. But as early as 2030, if the government approves the initiative, Japan could start building a new generation of nuclear power plants. The Ministry of Economy, Trade and Industry of Japan has already prepared the first draft of these facilities; it envisages, in particular, safer light-water reactors. The plants will not start to be used until the 2030s.

The decision is a turning point for the Japanese energy industry, because in 2011, after the Fukushima accident, Japan banned the construction of new plants and focused on restarting old ones.

Also, Kishida will try to prolong the life of existing Japanese nuclear power plants and individual reactors, according to the publication. Currently, under Japanese law, they are operated for 40 to 60 years, then the reactors are deactivated. Japan has a total of 33 nuclear reactors, 25 of which are inactive. Some of them have already been tested for safety to be restarted.

The authorities want to restart ten reactors, and by next summer to increase their number to 17.

In early July, Japanese authorities introduced the first power-saving regime for the population in seven years amid increasing consumption due to the record heat wave, while the volume of supplies did not increase. At the same time, Kyodo agency wrote that the risk of power shortages was posed by the aging of thermal power plants and the threat to fuel purchases for their operation due to the events in Ukraine.

In mid-May, The Financial Times wrote that the energy crisis in Japan began because of rising gas and oil prices. At the same time, Tokyo buys about 9% of its LNG from Russia, so sanctions in this context would cause an increase in electricity prices. At the same time, Japan buys about 55% of its uranium for use in nuclear power plants from Western European countries. Akihiko Kato, head of Mitsubishi Heavy Industry’s core business unit, saw the resumption of operation of the shutdown nuclear power plants as an opportunity to reduce dependence on Russian energy resources.

Earlier, we reported that Goldman Sachs analysts reported that their expectations were not met.

Economy

Tell us about Octopus Moving

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Octopus Moving

Octopus Moving is a company that provides removal of property. It was founded in 2005 in New York, USA. The website is https://myoctopusmoving.com. It also has an office in Boston. 

Octopus Moving’s main services are:

  • Moving: assistance with both intra-city and international moves;
  • Storage: the ability to store in their warehouses;
  • Everything you need for things to be safely transported to a new place;
  • Arrangement of furniture at the new location.

A special feature of Myoctopusmoving is that they use only eco-friendly materials for your belongings. Also, they have their own fleet of trucks available, allowing them to provide a more flexible schedule and lower prices.

Company has positive reviews from their customers and is considered a reliable service.

Why is it better to ask for professional help?

Turning to professionals can be more cost effective than doing everything yourself. Here are a few reasons it may be the best choice:

  • Experience and professional skills for safe and efficient transportation. The right equipment and tools are available to provide safety and prevent damage during transportation and storage.
  • Saves time and effort: Moving on your own can be very time consuming and time consuming. Company can do it for you, saving you time and effort.
  • Property Protection: Guaranteeing the safety and security of your property. They usually offer insurance in case of damage or loss of things.
  • Flexibility: The service can provide flexibility according to your needs and will always go out of their way to meet your needs. For example, they can offer temporary storage.
  • Money Savings: While hiring may seem more expensive than removal of property on your own, it canbe more cost-effective. A company can provide all the equipment you need and reduce the risk of damage and loss of things, which can save you money in the long run.

In addition, this way you save yourself from unnecessary stress and anxiety.

Is there a guarantee of safety for the goods transported?

All moves will be done safely and professionally. They have experienced and trained workers who know how to handle things properly to prevent damage. Besides, they use special vehicles and packing materials to make sure the safety of things.

Every client receives insurance in case things are damaged or lost in transit. This can be an additional indication of their seriousness regarding safety and responsibility for the safety of their clients’ belongings.

For more specific information, it is recommended that you contact them directly and ask questions when speaking with a company representative.

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Economy

Investors gravitate toward bear market after Fed decision

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The Fed's bear market

The consensus among investors is that the U.S. Federal Reserve will raise rates again before the end of the year and will not loosen its monetary policy until 2024, which is a bearish outlook for the stock market. So it’s important to be prepared for a drop in the S&P 500 and other indices. 

That’s the prevailing view of about 350 respondents to the Instant MLIV Pulse survey after Wednesday’s Federal Open Market Committee meeting.

The findings contrast with the interest rate swap market, which is still struggling to gauge a rate cut this year. More than 70% of MLIV Pulse respondents said the Fed is not done raising rates yet. More than half said they expect the central bank to wait with its policy easing until next year.

The survey results are in line with Fed officials, but go against traders who estimated this year’s rate cut has led to lower Treasury yields.

Swap markets expect the Fed rate to peak at around 4.95% in May and then fall to about 4.2% in December.

Earlier we reported that the U.S. Department of Justice has begun investigating the collapse of Silicon Valley Bank.

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Economy

Startups under threat worldwide after Silicon Valley Bank collapse

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Startups under threat

High-tech startups have been hit. Companies around the world are facing a fight for survival after the collapse of a major US investment bank, Silicon Valley Bank (SVB). There was a “huge disruption” in the industry globally, Bloomberg reported, citing market participants. The entire stock market, and the S&P 500 in particular, plummeted.

Startups under threat

The bankruptcy of the lending institution, in particular, affected the co-founder of startup Birdly Inc. Quang Hoang. The entrepreneur invested about $10 million in SVB and is still unable to repay the money four days after the bank was shut down by the California Department of Financial Protection and Innovation. However, the entrepreneur is far from the only one who has faced similar problems, the article specifies.

“Hoang was one of thousands of founders around the world this week trying to track down their money after days of chaos and who are completely rethinking the way they run their own businesses. Startups from Silicon Valley to London to Tel Aviv to tech hubs across Africa have depended on SVB as a one-stop store for everything from storing their fortunes to personal mortgages,” the story says.

Now investors and technology companies are predicting a complicated financial future for themselves, even if the bankrupt bank begins to attract deposits from customers under a new name. Many market participants faced a “financial payback” for their overreliance on the credit institution’s risky investment assets, the memo said.

On March 11, the California Department of Financial Protection and Innovation closed Silicon Valley Bank, a large investment bank based in Santa Clara County. All insured deposits from SVB were transferred to Deposit Insurance National Bank of Santa Clara. Depositors were expected to have access to their accounts by March 13.

Earlier we reported that the U.S. Department of Justice has begun an investigation into the circumstances of the collapse of Silicon Valley Bank.

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