Froriep Renggli, a Zurich-based law firm, has alleged the active connivance of UBS in routing...
Toshiba and TerraPower have begun exchanging information in a move that would bring together Bill Gates' ample wealth and the knowhow and experience which the Japanese electronics giant has established in the nuclear power business
Microsoft founder Bill Gates and Japanese electronics giant Toshiba Corp are discussing the possibility of jointly developing a cheaper next-generation nuclear reactor that can operate for up to 100 years without refuelling, company officials said on Tuesday.
Toshiba will study cooperating with US venture firm TerraPower, funded by Microsoft Corp chairman Mr Gates, to jointly develop a travelling-wave reactor (TWR) that can function up to 100 years without refuelling, they said.
Mr Gates is said to be considering investing personal assets worth several hundreds of billions of yen in developing the new type of reactor.
The officials said that Toshiba and TerraPower have begun exchanging information in a move that would bring together Mr Gates' ample wealth and the knowhow and experience which the Japanese electronics giant has established in the nuclear power business, Kyodo news agency reported.
While it is likely to take more than a decade to put the next-generation reactors to practical use, the TWRs can save operating costs because they do not require refuelling and are expected to draw demand in emerging countries.
The new reactors, which consume depleted uranium as fuel, can operate from 50 to 100 years and are considered relatively safer than conventional boiling water reactors, which need periodic refuelling.
Toshiba, which acquired US-based Westinghouse Electric Co is currently developing an ultra-compact nuclear reactor, called the Super-Safe, Small and Simple, or 4S, which can operate continuously for up to 30 years.
The 4S technology is believed to be compatible with the TWRs because they have many aspects in common, according to the officials.
Mr Gates, who has recently been focusing on global warming and other climate issues, effectively owns TerraPower and proposed the collaboration with Toshiba, the report said.
In the eventuality of Sahara discontinuing the sponsorship of the Indian cricket team, BCCI may find it difficult to rope in a new patron, given the mad rush for the IPL
Having bid a staggering Rs1,700 crore (plus) for buying a team in the Indian Premier League (IPL), Sahara will review its sponsorship to the Indian cricket team, group chief Subroto Roy has said, reports PTI.
Sahara had won the sponsorship for the Indian cricket team for Rs400 crore for a four-year period ending December 2009, and had agreed to continue for six more months as the Board of Control for Cricket in India (BCCI) could not find any sponsors.
In the eventuality of Sahara discontinuing the sponsorship, BCCI may find it difficult to rope in a new patron given the mad rush for the IPL.
"No, it will not. Only thing we will see is our continuation of sponsorship to the Indian cricket team. We will sit on that and we will discuss on that. But on all other sports, nothing will be affected," Mr Roy told PTI on the impact of the group's aggressive bidding to acquire the Pune team of the IPL.
Asserting that the group, which is also sponsoring the hockey team, would seriously consider (limiting) exposure to the BCCI and women's cricket, he said, "We will take a conscious decision about it."
On financing the 10-year-bid, he said that there were various options and many Indian companies and British clubs have evinced interest in becoming Sahara’s partners, adding that going public through an initial public offer in a year or two was also a possibility.
"We are paying every year in advance to acquire a property. So if you are paying advance, it is not a profit or loss account factor. So we can go even for an initial public offering (IPO) in a year or two years," Mr Roy said.
"There are approaches from not only Indian companies, but within 24 hours we got proposals from some very big club in the UK. They want to join hands with us. There are many kinds of opportunities," he said.
Mr Roy, however, made it clear that the Sahara group would keep the majority stake and said that inclusion of a partner would depend on two factors—really good people behind the organisation and a positive and exciting financial proposal.
He said that the Pune team would not be a loss-making proposition and it would generate operating profits from year one.