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French nuclear group Areva confirmed Wednesday record net losses in 2014 of 4.8 billion euros ($5.3 billion) after it was forced to absorb costs linked to delays to its flagship next-generation reactor. "The scale of the net loss for 2014 illustrates the two-fold challenge confronting Areva: continuing stagnation of the nuclear operations, lack of competitiveness and difficulties in managing the risks inherent in large projects," chief executive Philippe Knoche said in a statement. Areva has taken a particular hit in the past year from delays in building its Olkiluoto 3 nuclear plant in Finland, as well as difficulties with its renewable energy contracts. Areva announced in October that it would cut investments and step up sales of non-strategic assets as it tries to shore up its finances.
LOS ANGELES (AP) — U.S. immigration authorities were forced to release a foreigner later shot to death by police on Los Angeles' Skid Row after he served prison time for bank robbery because no country would take him, two U.S. officials said Wednesday.
US headed lower for a second day Wednesday after the run that saw new Dow and S&P records and a 15-year high for the Nasdaq on Monday. An hour into trade, the Dow Jones Industrial Average was off 158.07 points (0.87 percent) at 18,045.30. The broad-based S&P 500 fell 17.47 (0.83 percent) to 2,090.31, while the tech-rich Nasdaq Composite dropped 36.28 (0.73 percent) to 4,943.62.