CARRYING ON THE WORK  Georgia Power has taken over the Vogtle nuclear plant’s project management from Westinghouse, which filed for bankruptcy in March. Picture: BLOOMBERG/TOMOHIRO OHSUM
CARRYING ON THE WORK Georgia Power has taken over the Vogtle nuclear plant’s project management from Westinghouse, which filed for bankruptcy in March. Picture: BLOOMBERG/TOMOHIRO OHSUM

Toshiba to pay to ensure construction of US reactors

Toshiba will contribute US$3.68bn to continue building two nuclear reactors in Georgia, US, to enable the completion of the Vogtle plant. The project was started by the Japanese conglomerate’s nuclear unit, Westinghouse, which is now bankrupt. Toshiba said it has reached an agreement with Georgia Power to begin payments from October to January 2021 to complete the plant. — Reuters

Italian bank’s chief expects help for struggling lenders

The CEO of UniCredit, Italy’s biggest bank by assets, says he is confident a solution for the country’s two ailing Veneto-based lenders will be found with the help of other domestic banks. CEO Jean Pierre Mustier is leading talks with the Rome government and European authorities as Italy’s largest banks consider helping Rome bail out Popolare di Vicenza and Veneto Banca to avoid being hit by costly depositor guarantees if European regulators shut them down, sources say. — Reuters

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