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UPDATE 1-NY can replace Indian Point nuclear power -groups
* NRC to take years to decide on new reactor licensesBy Scott DisavinoNEW YORK, Oct 17 (Reuters) - Two environmental groups said on Monday the giant Indian Point nuclear power plant in New York could be replaced with cleaner, safer energy sources.The Natural Resources Defense Council (NRDC) and Riverkeeper said the region had surplus energy to replace the 2,065-megawatt Indian Point. The groups said the energy could be tapped by running existing generators at modest additional cost, with no impact to reliability of the electric supply until 2020.The group responsible for New York’s power grid disagreed, saying a shutdown of Indian Point could result in blackouts.Indian Point is in Westchester County along the Hudson River, about 45 miles north of midtown Manhattan. The plant, which can power about 2 million homes, supplies about a quarter of the power used in New York City and Westchester.”We have a wealth of safer energy sources ready to go that can fully replace the power from Indian Point. When we consider the human and economic costs of a nuclear crisis in New York, and the host of benefits from investing in clean energy, the solution is common sense,” NRDC President Frances Beinecke said in a release.Entergy , the second biggest nuclear power operator in the United States and Indian Point’s owner, wants to keep running the plant for another 20 years and has filed with federal regulators to renew its two reactors’ operating licenses before they expire in 2013 and 2015.New York Governor Andrew Cuomo has said he wants Indian Point shut when its licenses expire, due in part to concerns for safety in having two nuclear reactors in the New York metropolitan area, home to about 19 million people.NRC SAYS INDIAN POINT SAFEU.S. Nuclear Regulatory Commission (NRC) staff has determined the two Indian Point reactors are safe to run for another 20 years.It will likely take years before the NRC commissioners decide whether to renew the reactors’ licenses. Before the commissioners decide, the agency’s judicial board must air the concerns of opponents. Any decisions can also be appealed to the agency or potentially to federal court.The new report, prepared for the NRDC and Riverkeeper by economic consulting firm Synapse Energy Economics, found that even if the Indian Point units both closed by 2015, there would be no need for new electric capacity until 2020.The report identified several replacement power options that could be implemented well before 2020, including about 1,500 MW in savings from new energy efficiency, nearly 600 MW of renewable energy, 8,000 MW from new proposed transmission lines and more than 1,000 MW from repowering old existing natural gas plants in New York City.The New York Independent System Operator (NYISO) has warned the shutdown of Indian Point would leave the city vulnerable to blackouts and other reliability problems.”It is clear that alternatives to Indian Point’s power would result in serious environmental and economic consequences for New York City and Westchester residents,” Jerry Nappi, a spokesman for Entergy, told Reuters.New York’s power company, Consolidated Edison , has said the shutdown of Indian Point would boost the already high cost of power in the Big Apple.Power prices in New York are already among the highest in the nation. The average retail price of power in New York is about 15.5 cents per kilowatt hour versus 9.8 cents for the national average, according to federal data.The environmental groups estimated the shutdown of Indian Point would only add about $1 to $5 per month to consumer’s monthly bills. Other studies however have found that power costs in New York City and Westchester would rise much more if Indian Point were shut. -
The Lineman: Week Six NFL picks
The Lineman took a few hard hits early last week but recovered with a couple of late scores to win my last two picks and finish with a sort of respectable 2-4. The word of the week for Week Six is “desperation” for me and several teams. Record: 14-16; Last week: 2-4; Pick of the Week: 4-1 PICK OF THE WEEK St. Louis Rams (0-4) at Green Bay Packers (5-0) (Lines Packers minus-14.5) The NFL’s best team against probably the league’s worst team (we say probably only because the Miami Dolphins have also yet to win a game). St. Louis has had a bye week to think about their visit to Lambeau but the Rams could have had a year to prepare and it would be the same result – a blowout. With a razor-sharp Aaron Rodgers at the controls the Packers are averaging a league best 34 points while the Rams are at the bottom of the heap averaging just 11.5. The Packers still have a few areas they could improve on, such as pass defence after giving up an average of 299 yards per game – third worst in the league. But Charles Woodson and Morgan Burnett are tied for the lead in interceptions with three each while Rams quarterback Sam Bradford has thrown just three touchdowns. Danario Alexander is the Rams’ top pass catcher with a measly 196 yards. Rodgers has thrown for 1,721 yards and a league-best 14 touchdowns and will likely add to both those numbers against a Rams secondary that has lost its two top cornerbacks to injury. Even when they were winning last season, the Rams were crummy on the road. The Pack are great at home. Giving up more than two touchdowns always leaves me jittery and there is always a chance the Packers could be in a generous mood and let up on their overwhelmed opponents. But I still expect to see plenty of Lambeau Leaps this Sunday. Take the leap. Give up the 14.5 and take the Packers. - – - - Philadelphia Eagles (1-4) at Washington Redskins (3-1) (Line Eagles plus .5) I could just cut and paste my reasons for taking the Eagles again because they are the same reasons I picked Philadelphia over the Bills a week ago (a wrong pick). The only difference from last Sunday is that the Eagles are even more desperate for a win. After four straight losses the “Dream Team” tag has been removed from the Eagles but is Philadelphia as bad as their 1-4 record? I think not. The Eagles offence ranks third, averaging 445 yards per game and first in rushing but quarterback Michael Vick has been prone to the big mistake, tossing a league-high seven interceptions including four against the Bills. Philadelphia’s more significant issues are on defence where they rank near the bottom of the league against the run, surrendering an average of 26.4 points and 140 yards on the ground. Defence has been the Redskins strength, Washington allowing just 15.8 points per game (third best behind Baltimore and San Francisco) and leads the NFL in sacks – not good news for an already banged up Vick. Great defence, coming off a bye week and playing at home everything would seem to be in the Redskins’ favour. But the Eagles are in desperation mode and so am I. Take the Eagles and the half point. - – - - Carolina Panthers (1-4) at Atlanta Falcons (2-3) (Line Falcons minus-4.5) The Eagles and Falcons are birds of a feather – both failing miserably to live up to pre-season expectations. The Falcons tailspin has not been nearly as dramatic as the Eagles but this is another team that needs to get things figured out in hurry (like this Sunday) or risk falling to the bottom of the NFC South. First-year quarterback Cam Newton may not quite be ready for the Hall of Fame as some would have you believe by the lavish praise but he is a lock for rookie of the year taking command of a Panthers offence that ranks fifth in total yards and passing. Newton has passed for seven touchdowns, run for five more and developed a special chemistry with wide receiver Steve Smith, who ranks second in pass catching with 609 yards. Atlanta has just been out of sync on both sides of the ball. The Falcons are a tough out at the Georgia Dome and this is the week when things finally start to click in Atlanta. Newton is also due for a wonky game and I think this is it. Take the Falcons and give up the 4.5. - – - - Houston Texans (3-2) at Baltimore Ravens (3-1) (Line Ravens minus-7.5) No All-Pro wide receiver Andre Johnson and no pass rushing maestro Mario Williams, means no chance for the banged up Texans against a well-rested Ravens team playing at home and coming off a bye week. It is hard to give up more than a touchdown against a team that has played as well as the Texans but, with their two biggest playmakers sidelined with injuries, it is hard to see Houston having any chance here. The Ravens defence, led by Ray Lewis (this guy still scares me), is the league’s stingiest allowing just 14.3 points a game while Joe Flacco and the Baltimore offence are starting to find their stride averaging 35 points in their three wins. M&T Bank Stadium has been a house of pain for visitors, the Ravens going 12-1 in their last 13 home games. The Texans have never beaten the Ravens and it won’t happen this week. Houston we have a problem. Take the Ravens and give up the 7.5. - – - - New Orleans Saints (4-1) at Tampa Bay Buccaneers (3-2) (Line Saints minus-4.5) New Orleans let me down last week when they failed to cover against the Panthers but I am giving them another shot this Sunday because 4.5 points seems to a little light against a Saints offence that is starting to fire on all cylinders. Drew Brees is the NFL’s second ranked quarterback tossing 1,789-yards and 12 touchdowns and is at the controls of a Saints attack that sits second in total yards (452 yards per game) and passing yards (336). Last week the Buccaneers were spanked 48-3 by the San Francisco 49ers, matching their worst loss in club history. Both defences have struggled giving up an average of 25 points a game but it is hard to see Tampa Bat quarterback Josh Freeman keeping pace with Brees. The Saints quarterback has an arsenal of weapons to choose from while the Bucs lost one of their biggest threats last Sunday when running back LeGarrette Blount went down with a knee injury. New Orleans should also be very motivated this week with a win allowing them to open up a two-game cushion on their NFC South rivals at the top of the division standings. Bucs stopped here. Take the Saints and give up the 4.5. - – - - Miami Dolphins (0-4) at New York Jets (2.3) (Line Jets minus-7.5) For me, a week off in Miami would never seem like a bad thing. Not sure, however, the winless Dolphins enjoyed their bye week as much I would have. So it’s back to work for the Fish and a visit to the Big Apple for the Monday Nighter against a Jets team that finally appears ready to take flight. Dolphins have a new look coming out of the break but it is a scary one, with backup Matt Moore in at quarterback for injured Chad Henne. Miami ranked near the bottom of the league averaging just 17 points a game with Henne calling plays so it is difficult to see Moore as any kind of upgrade – especially going against a Jets defence that ranks fifth against the pass. New York quarterback Mark Sanchez continues to come under scrutiny but expect him to silence his critics, for one day at least, with a big day against the NFL’s second worst pass defence. Both teams are desperate (see, I told you that was word of the week) for wins. Miami coach Tony Sparano likely needs one to keep his job while the Jets need a victory to stay in touch with the 4-1 New England Patriots and Buffalo Bills in the AFC East. The Dolphins have a history of playing the Jets tough, but give me the improving Jets against Matt Moore in the Monday Night prime time spotlight. Jets cleared for takeoff. Take the Jets and give up the 7.5 -
UK property values rise 0.1 pct in Sept-IPD
LONDON Oct 14(Reuters) - UK commercial property values rose 0.1 percent in September, unchanged from August, buoyed by strong demand for central London offices and retail property against a backcloth of wider market turmoil, data showed on Friday.Investment Property Databank (IPD) said property values had recovered by 17.8 percent in the past two years, having fallen by about 45 percent during the global financial meltdown.Total returns across all property classes — office, retail and industrial — was 0.6 percent for September, unchanged from August and almost entirely driven by rental income, IPD said.”Occupier demand remained strong across the London office market,” IPD’s UK and Ireland Managing Director, Phil Tily, said in a statement.”While there was mild yield compression, growth was predominantly off the back of continuing rental value growth, which is encouraging given the levels of uncertainty in the wider economy,” Tily said.Income returns for September was 0.6 percent, with 0.5 percent from offices, 0.6 percent from industrial, and 0.5 percent from retail, IPD said. -
Bjorn again makes scoring look easy in Portugal
A flawless seven-under 65 left the Dane one stroke behind James Kingston of South Africa.The 40-year-old Bjorn shared second place with Britons Simon Khan, Rhys Davies and Gareth Maybin and Austrian Bernd Wiesberger. World number six Martin Kaymer and triple major champion Padraig Harrington were three shots off the lead.Bjorn’s season has gone from strength to strength, with victory at the Qatar Masters in February and back-to-back triumphs at the Johnnie Walker Championship and European Masters in August and September.His title hat-trick came after a barren four-year spell was ended at the 2010 Estoril Open in Portugal.Now the twice former Ryder Cup player, determined to feature in Jose Maria Olazabal’s European side again next year, is eyeing his 14th tour title.”It’s gone well for me again in Portugal. I’ve loved the place since I came here with the national team as a young lad,” Bjorn told reporters.”I holed a few nice putts early on, then it was a bit scruffy coming in but all-in-all a good day’s work.”At the moment I’m finding it easy to score, even when I don’t play well, but I’ve obviously had a lot of confidence for some time.”Kingston returned nine birdies and one bogey as the 45-year-old went in search of his third European Tour title.”The conditions were hot but absolutely perfect and the course was there for the taking,” said Kingston.TOO GUNG-HOHarrington had the same thing in mind but said he attacked too much.”If I wasn’t thinking that 20-under is going to win this tournament I’d have played a lot better,” the Irishman said after notching eight birdies and three bogeys. “I was pushing too hard and I was too gung-ho.”Harrington hit a stunning wedge approach to just two inches on the first, his 10th hole, to wipe out the memory of his shot into water at the 12th.Last year’s European number one, 2010 U.S. PGA champion Kaymer, is looking to improve on his fifth place in this season’s money list.The German holds the course record of 61 at the Victoria club on the Algarve.”It’s not a very difficult course and four years ago when I shot the 61 I only had 23 putts,” Kaymer said.”I only had to look at the hole and the ball went in. Today it wasn’t quite the same but hopefully there’s another 61 in me.” -
UPDATE 1-Carrefour warns on 2011 profit again
* Now sees 2011 operating profit down 15-20 pct* Says faced with increasingly uncertain economic climate (Adds details from statement)By Dominique VidalonPARIS, Oct 13 (Reuters) - Carrefour , Europe’s No.1 retailer, issued a fresh profit warning on Thursday, citing an increasingly challenging economic climate that has seen shoppers cut spending at its core French hypermarkets.The French group, already struggling with a string of profit warnings and strategy U-turns, said it now expected 2011 operating profit to drop by between 15 percent and 20 percent against a previous forecast for a 15 percent decline.The world’s second-biggest retailer by sales after U.S. group Wal-Mart made the prediction after it eked out a 0.3 percent gain in third-quarter sales to 22.8 billion euros ($31 billion) as robust growth in emerging markets barely offset weak sales in France and western Europe.Quarterly sales were broadly in line with a forecast of 22.74 billion euros in a Reuters poll of 12 analysts.In France, which accounts for about 40 percent of group sales, Carrefour reported a 4.6 percent fall in hypermarket sales excluding fuel. The poll forecast was for a 4 percent drop.The decline came as cash-strapped shoppers cut back on the purchase of discretionary non-food goods and was worse than the 1.7 percent decline in the second quarter.Elsewhere in Europe, austerity and economic uncertainty weighed on consumer sentiment in Spain and Italy, while Belgium confirmed its rebound.Emerging markets remained sources of growth, however, with sales in Latin America rising 10.2 percent at constant exchange rates.European retailers are struggling in their home markets as cash-strapped shoppers are being hit by higher prices, subdued wage growth and government austerity measures.On Wednesday, smaller domestic peer Casino reported slower growth in its main French market but was able to offset the slowdown thanks to strong growth and acquisitions in emerging markets. ($1 = 0.725 Euros) -
UPDATE 1-Renaissance snubs Plato Learning, favours Permira’s bid
Renaissance, which received a revised $455 million takeover offer from Permira last month, said its board continues to recommend shareholders accept Permira’s offer.On Monday, Renaissance said it had received a revised offer from Plato, which valued Renaissance at $16.90 a share. Renaissance had said it would give “proper consideration in due course” to Plato’s bid.Renaissance said its board concluded that the revised definitive proposal from Plato could not reasonably be expected to lead to a superior proposal.Terrance and Judith Paul, who founded Renaissance in 1986, and members of their family own 69 percent of the company’s shares.The family said they will not support an acquisition of Renaissance by Plato, and have agreed to vote in favor of the amended Permira offer.Permira had first struck a deal to buy Wisconsin-based Renaissance for $14.85 per share in August, but these plans were upset when Plato stepped in with a higher offer of $15.50 a share in September.Shares of Renaissance Learning closed at $17.01 on Monday on Nasdaq.
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