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A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community with a coal plant that's closing. Among the many things the transformative bill could do, nuclear energy experts say, is spur more nuclear reactor projects like one Bill Gates is planning in Kemmerer, Wyoming. Companies designing and building the next generation of nuclear reactors could pick one of two new tax credits available to carbon-free electricity generators. Both include a 10-percentage point bonus for facilities sited in fossil fuel communities.

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FILE - Carbon dioxide and other pollutants billows from stacks at the Naughton Power Plant, near where Bill Gates company, TerraPower plans to build an advanced, nontraditional nuclear reactor, on Jan. 12, 2022, in Kemmerer, Wyo. A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing. (AP Photo/Natalie Behring, File)

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FILE - Test engineer Jacob Wilcox pulls his arm out of a glove box used for processing sodium at TerraPower, a company developing and building small nuclear reactors, Jan. 13, 2022, in Everett, Wash. A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing. Bill Gates' company, TerraPower, plans to build an advanced, nontraditional nuclear reactor and employ workers from a local coal-fired power plant scheduled to close soon. (AP Photo/Elaine Thompson, File)

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FILE - Carbon dioxide and other pollutants billows from a stack at PacifiCorp's coal-fired Naughton Power Plant, near where Bill Gates company, TerraPower plans to build an advanced, nontraditional nuclear reactor, Thursday, Jan. 13, 2022, in Kemmerer, Wyo. A major economic bill headed to the president has “game-changing” incentives for the nuclear energy industry, experts say, and those tax credits are even more substantial if a facility is sited in a community where a coal plant is closing. (AP Photo/Natalie Behring, File)

AP
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Asian stocks have followed Wall Street lower ahead of U.S. inflation data traders worry will show upward pressure on prices still is too strong for the Federal Reserve to ease off interest rate hikes. Shanghai, Tokyo, Hong Kong and Seoul declined early Wednesday. Oil prices edged lower. Wall Street’s benchmark S&P 500 index lost 0.4% for its fourth daily decline. U.S. government data are expected to show headline inflation in July eased from the previous month's four-decade high of 9.1%. But traders expect core inflation, which strips out volatile food and energy, leaving rent and other expenses, to edge higher.

AP
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Asian shares are mostly declining amid a global fall in technology shares, including Japan’s SoftBank, which just reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb it. Shares fell Tuesday in Tokyo but rose in other regional markets. U.S. futures edged higher while oil prices fell. Analysts say regional tensions also remain a risk after the recent visit of U.S. House Speak Nancy Pelosi to Taiwan. Technology stocks were the biggest drag on Wall Street, where the benchmark S&P 500 edged 0.1% lower.

AP
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Asian stock markets are higher as traders watch for signs trade might be disrupted by U.S.-Chinese tensions over an American lawmaker’s visit to Taiwan. Shanghai, Hong Kong, Tokyo and Seoul advanced after Beijing announced a ban on imports of Taiwanese citrus and fish but no immediate major penalties following the arrival of Speaker Nancy Pelosi of the U.S. House of Representatives. The mainland’s ruling Communist Party claims Taiwan as part of its territory and rejects foreign official contact with the self-ruled island democracy. The mainland gave no indication it might target sensitive industries such as Taiwanese producers of processor chips needed by Chinese smartphone assemblers.

AP
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The U.S. Justice Department says it is seeking possession of a Venezuelan cargo jet that has been grounded in Argentina since early June because it was previously owned by an Iranian airline that allegedly has ties to terror groups. The request to Argentina on Tuesday came a day after an Argentine judge allowed 12 of the 19 crewmembers of the plane to leave the country as authorities continue to investigate possible terror ties of those traveling in the Boeing 747. The remaining four Iranians and three Venezuelans are required to stay in Argentina. The case has raised attention in several South American countries amid allegations t\the plane was a cover for Iranian intelligence operations in the region. Iran and Venezuela vehemently deny those claims.

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Stocks are closing slightly lower on Wall Street Monday as investors began another busy week of earnings and economic reports. The S&P 500 fell 0.3%. The Dow Jones Industrial Average and the Nasdaq also closed lower. U.S. crude oil prices dropped, weighing heavily on energy companies. Retailers and consumer product makers made solid gains. Boeing jumped after it cleared a key hurdle with federal regulators to resume deliveries of its large 787 airliner. August’s subdued opening follows a solid rally for stocks in July that marked the best month for the the benchmark S&P 500 since November 2020.

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Stocks are finishing higher on Wall Street Friday as investors closed out the best month for the S&P 500 since November 2020. New data showed inflation jumped by the most in four decades last month, but sentiment was buoyed by positive earnings news out of technology giants Apple and Amazon, as well as oil giants Exxon and Chevron. The technology-heavy Nasdaq ended July with the biggest gains since April 2020. Stocks have gained momentum this month, fueled by better-than-expected corporate earnings and falling bond yields, which have pulled back after soaring much of this year on expectations of higher interest rates.