UK Moves Closer to Approving Sizewell C Nuclear Plant Project
Under the agreement reached over the weekend, the French state-owned owned utility — which is already building a pair of reactors in Hinkley Point in the UK — will retain a stake in the Sizewell C project of just 12.5% while the UK government and other investors will hold the rest, people with direct knowledge of the matter said.
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Business Insider
30 minutes ago
- Business Insider
Ghanaian government increases the producer price of cocoa by 62.58 per cent
The Government of Ghana has announced a significant rise in the producer price of cocoa for the 2025/2026 season, increasing it from US$3,100 to US$5,040 per tonne, a 62.58% increase in dollar terms. The Government of Ghana announced a 62.58% increase in the producer price of cocoa for the 2025/2026 season, setting it at $5,040 per tonne. This increase aligns with a pledge to ensure cocoa farmers receive 70% of the Free-On-Board (FOB) value. The new price was determined amidst a favorable exchange rate and declining inflation, reflecting economic adjustments. The announcement was made by the Producer Price Review Committee (PPRC), chaired by the Minister for Finance, Dr Cassiel Ato Forson, ahead of the new cocoa season set to begin on Thursday, 7 August 2025. "It is instructive to note that the Government has by this decision increased the producer price significantly by 62.58% in US dollar terms," the Minister stated. This revised price represents 70% of the gross Free-On-Board (FOB) value of US$7,200 per tonne, aligning with President John Mahama's pledge to ensure cocoa farmers receive 70% of the FOB value. Under the previous NPP government, the producer price was set at US$3,100 per tonne for the 2024/25 season, just 63.9% of the FOB value of US$4,850, despite stronger international cocoa prices at the time. According to the government, the new gross FOB value is based on 100,000 tonnes sold at US$2,600 per tonne in the 2023/24 season and forecast pricing for the new season. SEE ALSO; Namibia and Zambia to scrap passports for border travel With the Ghana cedi trading at an average rate of GHS10.25 to US$1, the new producer price translates to GHS51,660 per tonne, up from GHS49,600, equivalent to GHS3,228.75 per 64kg bag. "This is coming on the back of a strong Ghana cedi and declining inflation, reflecting the Government's commitment to improving the livelihoods of our cocoa farmers," Dr Forson added. Subsidy to cushion currency effects To protect farmers from income loss due to the cedi's strength, the government had, for several months, maintained the cedi equivalent of US$3,100 per tonne at a rate of GHS16 to US$1. This amounted to a GHS1,114 subsidy per bag since Q2 2025. "This intervention by Government moved the farmer share of the FOB from 63.9% to over 99%," the Minister revealed. New margins and inputs for the cocoa chain The PPRC also approved revised fees and margins for key stakeholders in the cocoa value chain, such as buyers, hauliers, warehouse operators, and quality control officers. The Ghana Cocoa Board (COCOBOD) has assured readiness for the season's launch, with jute sacks and logistics in place. A major highlight of the new season is the reintroduction of the Free Cocoa Fertiliser Programme. "I am pleased to announce that President Mahama's administration has reintroduced the free cocoa fertiliser programme as an additional support to the Ghanaian cocoa farmer," Dr Forson said. Farmers will receive liquid and granular fertilisers, insecticides, fungicides, spraying machines, and flower inducers at no cost. The government encouraged farmers to use these inputs strictly to enhance productivity and income. COCOBOD Reforms to Focus on Core Mandate As part of broader reforms, the government intends to amend the Ghana Cocoa Board Act in the 2026 Budget to prevent COCOBOD from engaging in non-core activities. "As part of the 2026 Budget, the Ghana Cocoa Board Act will be amended to make it illegal for COCOBOD to deviate or stray from its core mandate to protect the cocoa industry," Dr Forson said. All ongoing cocoa road projects will be transferred to the Ministry of Roads and Highways, freeing COCOBOD to focus on yield improvement and farmer welfare. he stressed.
Yahoo
an hour ago
- Yahoo
Gambling parlour plan for popular Edinburgh neighbourhood as rejection appealed
A high street gambling parlour in an Edinburgh neighbourhood is chasing an appeal after it was denied planning permission. Merkur Slots, which already has slots parlours on Nicolson Street and Leith Walk, filed an application to open the outlet on Morrison Street in December of last year. However, in March, council officials denied the firm planning permission, saying that the proposed 24 hour running of the parlour would have an adverse impact on nearby residents. READ MORE: Edinburgh Gyle shopping centre evacuated after 'incident' in Morrisons store READ MORE: Edinburgh teen detained after night of 'lawlessness' which rocked the capital The denial read: 'While the application site falls within the designated city centre, the immediate surrounding area contains a large number of residential properties. 'Given the proposed use, it is considered that the change to accommodate an adult gambling centre, open 24 hours, would result in higher levels of user activity than at present. 'While the wider area is busy, with high ambient noise levels, the immediate vicinity of the application site is relatively quiet in comparison.' Up until 2023, the property at 181 Morrison Street was a showroom for carpet firm Carpet Rite. The appeal is set to come before the Planning Local Review Body on Wednesday next week, with officers recommending that permission be denied. In documents filed ahead of the meeting, Merkur Slots said that one of the objections to the planning application had been filed on behalf of one of their competitors. In addition, they contested the grounds on which their application was denied – however, they have offered to limit their opening hours to 8.00–midnight as part of their appeal. The slots parlour would not serve alcohol, and in their application the firm says that staff on site would aim to limit the impact of the venue on the community as much as possible. Customers who smoke would be 'asked to do so as quickly as possible', and notices would be put up outside the venue saying anyone who drank near the entrance would be barred. The firm says that the slots onsite would be 'low stakes', of between 10p and £2, with average stakes of 30p-40p. The Morrison Street site has already been granted a licence to operate by the council. The appeal will be considered at the next meeting of the Planning Local Review Body on Wednesday, August 13, which you can view here. Join Edinburgh Live's Whatsapp Community her e and get the latest news sent straight to your messages.
Yahoo
an hour ago
- Yahoo
Democrats Schumer, Jeffries demand meeting with GOP to avert government shutdown
Sen. Chuck Schumer and Rep. Hakeem Jeffries Monday called on their Republican counterparts to meet immediately to avert a government shutdown looming as soon as the end of next month. The Democratic congressional leaders, both of whom are from New York, called on Senate Majority Leader John Thune, R-South Dakota, and Speaker Mike Johnson, R-Louisiana, to sit down this week to discuss a plan to pass next year's budget, which would normally require negotiation with the minority party to secure the 60 votes needed in the Senate to avoid a filibuster. 'We have the responsibility to govern for all Americans and work on a bipartisan basis to avert a painful, unnecessary shutdown at the end of September,' Schumer and Jeffries wrote. The Democratic leaders noted they are willing to work with Republicans on a bipartisan basis to negotiate a budget deal that would keep the government open past Sept. 30. But they accused President Donald Trump and GOP leaders of plotting to govern without any input from Democrats and shut down the government if they don't get their way. 'Many within your party are preparing to 'go it alone' and continue to legislate on a solely Republican basis,' the Democratic leaders wrote. Government funding will expire Sept. 30. Lawmakers say to prevent a shutdown Congress will likely need to pass a stopgap funding measure when lawmakers return to Washington, D.C., after Labor Day. In exchange for their cooperation in passing new budget measures, Democrats want Republicans to agree not to turn around later in the year and pass a rescissions package cutting some of that same funding. Republicans recently voted to claw back $9 billion in previously appropriated funding and defunded the Corporation for Public Broadcasting, taking advantage of the legislative loophole that rescissions only require a simple majority in the Senate, not a 60-vote bipartisan supermajority. Schumer and Jeffries are also pressing for the administration to release funding it has unilaterally held up even though it was allocated by Congress last year. Republicans have suggested they may seek to pass one or more policy bills before the midterm elections using the arcane reconciliation process, like they successfully did with Trump's One Big Beautiful Bill. That measure, which polls say is very unpopular with voters, enacted draconian cuts to health care spending to bankroll tax cuts for the wealthy and big corporations. _____
