Tuesday, Apr 16 2024 | Time 15:16 Hrs(IST)
image
WorldPosted at: Jul 29 2015 11:40AM


M'bishi Heavy shares slide; US nuclear plant claims jump to $7.6 bln

TOKYO, Jul 29 (Reuters) Shares in Mitsubishi Heavy Industries tumbled for a second day on Wednesday after the company said compensation claims related to the shutdown of California's San Onofre nuclear plant had surged to
7.6 billion.The stock was down 3 percent on Wednesday, trading at 5-1/2 month lows. It has lost 8 percent since Tuesday afternoon when the Japanese firm disclosed the news.Southern California Edison, a unit of Edison International, and others had previously sought at least
4 billion, accusing Mitsubishi Heavy Industries of contract violations in failing to properly design or quickly repair defective steam generators it built for the utility's now-closed San Onofre nuclear plant. The two Mitsubishi-manufactured replacement steam generators came with a 20-year warranty, but after one year of operation, one of the units experienced a small radioactive coolant leak that forced SCE to take the plant offline in early 2012. The plant was retired a year later.The dispute is being arbitrated by the International Chamber of Commerce.Scott Cunningham, vice president for investor relations at Edison International, said the company could not comment as it was bound by arbitration confidentiality rules.Mitsubishi Heavy said it would continue to defend itself as the allegations and the demands are "inappropriate". It maintains that its contractual liability on the matter is limited to up to
Please log in to get detailed story.
Tags: #M'bishi Heavy shares slide; US nuclear plant claims jump to $7.6 bln
More News

Israel seeks temporary deal with Hamas to release hostages before renewed fighting

16 Apr 2024 | 2:25 PM

Jerusalem, Apr 16 (UNI) The Israeli authorities are seeking a temporary ceasefire deal with Palestinian movement Hamas to ensure the release of hostages before resuming fighting in the Gaza Strip, Hamas' political bureau member Izzat al-Risheq said.

see more..

Tehran's response to Israel's countermeasures to be swift, comprehensive

16 Apr 2024 | 2:17 PM

Ankara, Apr 16 (UNI) Tehran does not seek escalation in the region, but Iran's response to countermeasures by Israel will be swift and comprehensive, Iranian Ambassador to Turkey Mohammad Hassan Habibollahzadeh said on Tuesday.

see more..

China's Xi receives Germany's Scholz in Beijing

16 Apr 2024 | 2:10 PM

Beijing, Apr 16 (UNI) Chinese President Xi Jinping on Tuesday received German Chancellor Olaf Scholz, who is paying a three-day visit to the Asian nation, in the Diaoyutai State Guesthouse diplomatic complex in Beijing, China Central Television (CCTV) reported.

see more..

Jordanian Air Force increases number of sorties to prevent airspace violations

16 Apr 2024 | 2:01 PM

Amman, Apr 16 (UNI) The Jordanian air force has increased the number of sorties to prevent airspace violations, the Jordan News Agency reported on Tuesday, citing a spokesperson for the Jordanian armed forces.

see more..

Chinese, Saudi FMs hold phone talks on Middle East's regional situation, bilateral ties

16 Apr 2024 | 12:40 PM

Beijing, Apr 16 (UNI) Chinese Foreign Minister Wang Yi and his Saudi counterpart, Faisal bin Farhan Al Saud, held phone talks on Monday regarding the regional situation in the Middle East as well as China-Saudi Arabia ties.

see more..
image