The British government has promised to pay the French utility company up to 92.50 per megawatt hour (three times the current wholesale price) for its output.Despite this generous ocer EDF could still lose out as it is liable for cost overruns.
A vigorous campaign by officials in China to slow the flow of money leaving the country seems to be working.Foreign-exchange reserves dropped by $29 billion in February to $3.2 trillion, a sharply lower monthly amount than the $100 billion that has been the norm recently.Meanwhile, new figures showed that China's exports plunged by 25% in February compared with the same month last year and imports fell by 14%.
News that an investor had accumulated a 5% stake in Burberry prompted speculation that the British luxury-goods company may become a takeover target.The identity of the investor was not known, but Burberry asked HSBC, which is the custodian of the stake, who it was.The bank was reportedly said to be holding it on behalf of multiple investors.
Three years after the country was bailed out, euro-zone officials confirmed that Cyprus will conclude its 10 billion (11 billion) rescue programme at the end of this month.
Supercell, the Finnish mobile-gaming firm behind Clash of Clans and three other blockbuster games, reported a 37% rise in sales last year to 2.1 billion ($2.3 billion).Owned by Softbank, a Japanese conglomerate, Supercell also announced that for the first time 100m users were playing its games on a daily basis.Its games are played in every country of the world, bar Tuvalu.
Corporate sponsors reacted swiftly to the revelation that Maria Sharapova, a five-time Grand Slam tennis champion, had failed a doping test earlier this year.At least three sponsors either cut or suspended their ties with the world's highest-paid female athlete.Ms Sharapova tested positive for meldonium, which she said was prescribed to her for medical conditions.It was banned by the World Anti-Doping Agency only at the start of the year.
In another crack at shedding its cheap image in order to appeal to business travellers,Ryanair, Europe's biggest low-cost airline, started hiring out a customised Boeing 737 with 60 business-class seats for flights.The chartered corporate jet will provide fine dining, a far cry from the hot chips, chicken nuggets, hot dogs…snack boxes and more! offered in economy class (if passengers can get a meal at all).