CEZ Nears Sale of Nuclear Power Project to Czech State
CEZ AS, the biggest traded electricity producer in eastern Europe, is close to selling a nuclear project to the Czech government, people with knowledge of the matter said.
The utility is preparing to divest a majority stake in EDU II, a special-purpose unit set up to commission two Korean reactors at its aging Dukovany complex, the people said. The deal may be announced in the coming weeks, they said, asking not to be identified discussing private talks. Terms weren't disclosed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
How Ford, Kia, automakers are approaching pricing amid tariffs
American automaker Ford (F) revealed that May sales rose 16% year-over-year, illustrating a strong spring season for the car brand. Yahoo Finance senior autos reporter Pras Subramanian breaks down the auto industry's performance under back-and-forth tariff messaging from the Trump administration, also highlighting inventory and pricing strategies from Kia ( Hyundai ( HYMTF), and Porsche ( Read up on the sales declines EV manufacturer Tesla (TSLA) is seeing in European markets. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. We've got monthly sales data from several major automakers including Ford, Hyundai and Kia. Yahoo Finance's senior autos reporter Pras Subramanian has the latest. Pras, let's start off with Ford. You said there was strength by the way across the board, but let's kick it off with Ford. Yes, so far, so far. Big gains by Ford but for how long is is is the question there. So, Ford sales up 16% led by trucks and SUVs. Hybrid surging too, still very popular amongst Ford customers in the US. Uh now Ford introduced employee pricing, uh, right soon soon after the tariffs were announced. Uh, it was seen as sort of a cynical move but they it actually worked. They're eating into market gains, they're getting market gains there through that, that pricing program. Uh, so that's a good move there. Um, the question is how long they can be they can maintain that, right? Price hikes are coming. They've already said models made in Mexico like the Maverick and the Mustang Mach-E you're gonna get price hikes too. So, real quick also the Korean automakers Hyundai and Kia, both doing well. Hyundai up 8%, Kia up 5%. Uh, Hyundai kept pricing the same through June 2nd. Sorry, June 3rd now. So the question is how long are they gonna make are they gonna raise prices? Are they gonna keep the same? Can they even cut prices? We'll see. And what are you hearing about how these companies are thinking through the price increases when the tariff policy continues to change? I mean, the tariff policy for at least with autos is has been the same. Uh, 2.5% since April 2nd or 3rd. Uh, now countries like the UK had a trade deal where they went to 10%. So that's helping them out. So the the Koreans and and in the USMCA they're waiting for can we get some pricing relief here from tariffs. It hasn't been the case so far. The ink is not yet dry or even wet on any of these deals. That's the big question. So, uh, I think you're right about with with Hyundai and Kia in particular, they're trying to move as much production as they can to the US, and that's a tough move. So, uh, we'll see because right now they're they're probably eating into their profit margins right now, uh, and they but they don't want to lose customers, they want to lose market gains or or some market share here, and that's sort of that balance, right? Is how do I maintain market my market share without destroying my profits? How much of the price increases can they actually pass through? Is it a portion of it? And then how many, you know, percentage-wise? And are some some automakers having a different perspective than others in terms of their their plan here? Yeah, you know, so so for instance, uh, Porsche for instance has said that they want to pass on as much, not they'd want to, but they're going to pass on as much as they can to the the consumer because they have a a product set that people want, right? 911 sports cars are highly desirable. You can maybe pass on a good amount of that tariff uh, price change to them. Cars in a competitive price price set, volume cars, mid-market cars, you can't pass on that much to the consumer because they're gonna get hit by another by another competitor. So that's a problem. And to that end, which automakers stand to potentially use this as an opportunity to eke out market share from competitors by keeping prices low. Does anyone have that luxury? So Ford just just is blowing it out of the water because they're they did that employee pricing, and I heard other automakers complain about that like, "Why are they doing that? I don't understand." This is why they're doing it because they're seeing it as an opportunity to say, "Hey Americans, we're going to help you out here. We know price hikes are coming. We're gonna lower prices for you." And that was a good sort of PR marketing goodwill move by them. Hats off to them for doing that. Other automakers saying, "We might want to preserve our sort of pricing power here and our and our profits here and maybe do that later." And maybe you'll see other automakers follow that in those footsteps, but right now you see the Ford warning at 1.5 billion in lost profits, GM almost potentially 5 billion without mitigation efforts and lost profits. So that's where we're standing. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
an hour ago
- Yahoo
Hyundai Motor Company President and CEO José Muñoz Reinforces Hyundai's Journey as a Mobility Leader at FISITA World Mobility Conference 2025
Hyundai Motor Group showcases its future mobility vision and technology innovations at the FISITA World Mobility Conference 2025 in Barcelona, Spain Hyundai Motor Company President and CEO José Muñoz delivered the Principal Speech, underscoring Hyundai's journey as a mobility leader ChangHwan Kim, Executive Vice President and Head of Electrification Energy Solutions Tech Unit at Hyundai Motor Group, began his term as the first Korean FISITA President The all-new NEXO and the enhanced fuel cell system are exhibited during the conference, highlighting the Group's cutting-edge hydrogen mobility technology SEOUL, South Korea and BARCELONA, Spain, June 3, 2025 /PRNewswire/ -- Hyundai Motor Group (the Group) reaffirms its vision for the future of mobility and its leadership in technological innovation at the La Fédération Internationale des Sociétés d'Ingénieurs des Techniques de l'Automobile (FISITA) World Mobility Conference (WMC) 2025, held from June 3 to 5 at the Palau de Congressos de Catalunya in Barcelona, Spain. FISITA, the world's largest association of academic institutions in the automotive field, unites engineering societies from 36 countries and has cultivated a global network of approximately 210,000 automotive researchers since its establishment in 1948. Its biennial conference, FISITA WMC, convenes around 2,000 distinguished executives and engineers from the mobility industry. As Prime Partner of FISITA WMC, the Group underscores its commitment to shaping the future of sustainable mobility by delivering a networking program, technical sessions, paper presentations, and an exhibition. Hyundai Motor Company President and CEO José Muñoz set the tone for the conference with his Principal Speech, engaging with industry leaders and engineers under the theme of Hyundai's journey as a mobility leader. "As an engineer myself, it was a real pleasure to share Hyundai's mobility journey and engage with participants at the FISITA World Mobility Conference. Under the leadership of Hyundai's Executive Chair, we are pushing the technological boundaries of what's currently possible to improve how people and goods will move more safely, sustainably and conveniently. Thank you to the organizers and congratulations to my colleague ChangHwan Kim for being named as the first Korean president of FISITA." ChangHwan Kim, Executive Vice President and Head of Electrification Energy Solutions Tech Unit at Hyundai Motor Group, who was inducted as president of FISITA at the conference, will guide the organization throughout his tenure until May 2027, overseeing the Executive Board and Committees. The Group will also host a special technical session from June 4 to 5, highlighting its latest advancements and collaborative research with European partners. Key topics include methodologies and case studies on the use of software and hardware, such as driving simulators for virtual performance verification, new bushing technologies to enhance ride comfort and performance in EVs and research on ensuring chassis reliability in software-defined vehicles using prognostics and health management technologies. Under the theme 'Clearly Committed, FCEV Technology,' the all-new NEXO and the enhanced fuel cell system will be exhibited, reiterating Hyundai Motor Group's leadership in hydrogen mobility and showcasing its dedication to driving innovation as a smart solutions provider across the full mobility ecosystem. By sharing its vision and technological capabilities throughout the conference, Hyundai Motor Group aims to foster global academic collaboration in mobility research while solidifying its role as a catalyst for innovation in the automotive industry, all in line with its vision of 'Progress for Humanity.' About Hyundai Motor Group Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. View original content to download multimedia: SOURCE Hyundai Motor Group Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
South Korea's Lee Jae-myung projected to win election after months of political turmoil, exit poll says
South Korean opposition leader Lee Jae-myung is projected to be the new president following a snap election on Tuesday, according to an exit poll by Korean broadcasters, in a vote held exactly six months after the country's previous leader declared martial law and plunged the nation into chaos. The joint exit poll from KBS, MBC and SBS projects that Lee, 60, of the liberal Democratic Party, will win 51.7% of the vote. His main rival, Kim Moon-soo of the ruling conservative People Power Party, is projected to win 39.3% of the vote. Official results are yet to be announced, but in previous elections the exit polling was closely in line with the final tally. This election was closely watched and may now offer South Koreans some semblance of political stability after half a year of uncertainty and turmoil as the US ally and economic powerhouse navigated the aftermath of the martial law crisis. It also comes as South Korea's export-oriented economy grapples with global events like US President Donald Trump's tariffs and a potential recession, all without a permanent leader at the helm. Former President Yoon Suk Yeol declared martial law on December 3 last year in a short-lived power-grab that was halted after lawmakers pushed their way past soldiers into the legislature and voted to block the decree. Yoon was impeached soon after and formally removed from office in April. In the months since that dramatic night, South Korea's government has been in disarray, with a revolving door of interim leaders ahead of the snap election. The acting leader of the Democratic Party, Park Chan-dae, said in an interview Tuesday night that the results of the exit poll reflect 'people's fiery judgement against the insurrection regime.' Voter turnout reached 79.3%, according to the country's National Election Commission. Lee, a divisive figure within Korean politics, emerged early on as the frontrunner, despite recent legal challenges and allegations of corruption and abuse of power. If official results mirror the exit poll, he could be inaugurated as early as Wednesday – and faces a host of issues waiting to be tackled. South Korea's economy has stuttered in recent months, with rising costs of living and lower consumption. There are trade talks with the US over Trump's tariffs, although no deal has been struck yet. There are also national challenges like the country's aging society and falling birthrate, and geopolitical tensions with China and North Korea. A former underage factory worker from a poor family, Lee became a human rights lawyer before entering politics. He is a former mayor of Seongnam city, home to around 1 million people, and governor of Gyeonggi province, and most recently served as a lawmaker after narrowly losing to Yoon in the 2022 presidential election. He survived an assassination attempt in January 2024 when a man stabbed him in the neck during a public event in the city of Busan. The injury required surgery, but was not life threatening, officials said at the time. Later that year, he again made headlines on the night Yoon declared martial law and sent troops to parliament, becoming one of the lawmakers who rushed to the legislature and pushed past soldiers to hold an emergency vote to lift martial law. He livestreamed himself jumping over a fence to enter the building, in a viral video viewed tens of millions of times. On the campaign trail, often speaking behind bulletproof glass and wearing a bulletproof vest, Lee promised political and economic reforms, including more controls on a president's ability to declare martial law, and revising the constitution to allow two four-year presidential terms instead of the current single five-year term. He also supports boosting small businesses and growing the AI industry. He has emphasized easing tensions on the Korean Peninsula while holding onto the longtime goal of denuclearizing North Korea. His aides say human rights will remain central to engagement with Pyongyang, including discussions on returning any living prisoners of war from the 1950-53 Korean War. But Lee has also been embroiled in controversy, including several ongoing trials for alleged bribery and charges related to a property development scandal. Separately, he was convicted of violating election law in another ongoing case that alleges he knowingly made a false statement during a debate in the last presidential campaign. The case has been sent to an appeals court. Lee denies all the charges against him. Speaking to CNN in December, he claimed he had been indicted on various charges 'without any evidence or basis,' and that the allegations are politically motivated. Opponents accuse Lee of being a polarizing figure in South Korean politics, openly criticizing former President Yoon and blocking legislation proposed by Yoon's government. Yoon even cited Lee's Democratic Party and its undermining of the government's budget bill as a reason for declaring martial law. Lee's team has pledged to reestablish trust with the US, which his advisers have said was weakened during the martial law crisis. The Biden administration was caught off guard by the brief challenge to South Korea's democracy, experts say, after the White House invested significant time to forge a landmark security partnership between Washington, Seoul and Tokyo. Ahead of the election, Lee's foreign policy adviser Wi Sunglac said the alliance with Washington would remain the 'cornerstone' of South Korea's diplomacy. Seoul is also actively negotiating with the US over Trump's tariffs, which include a 25% levy on South Korean exports and 25% duties on imports of automobiles and steel products. Trump has suggested more duties on semiconductors and pharmaceuticals – all predominant industries for South Korea's economy. Relations with China and Russia, strained in recent years, will be managed through 'strategic engagement,' with Lee's camp saying peace and security in the region require ongoing dialogue with both. This is a developing story.
