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LONDON (AP) — Work on a major new nuclear power station in Britain will stop after Japanese company Hitachi pulled out of the project.

Hitachi halted work on the Horizon Project, located in Wylfa, on the Welsh island of Anglesey. It will also end work on another site located in England after it had been unable to agree on financing with the U.

K. government.

The company had been in talks with the British government for years about how it might support the project financially, including through stock and debt investments. It suspended operations last year when a deal couldn’t be reached, and said the COVID-19 pandemic made financing difficult.

“Hitachi made this decision given that 20 months have passed since the suspension, and the investment environment has become increasingly severe due to the impact of COVID-19,'' the company said in a statement.

The suspension was seen as a blow to a British government facing Brexit at the end of the year. Prime Minister Boris Johnson's government wants to show it is open to business deals with companies and countries beyond the European Union.

“Horizon will now take steps for the orderly closing down of all its current development activities, but will keep the lines of communication open with government and other key stakeholders regarding future options at both our sites,” Horizon nuclear power said in a statement.

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Arizona High Court to Weigh Incentive for University Project

PHOENIX (AP) — The Arizona Supreme Court has agreed to review a lower court's ruling that upheld a Phoenix suburb's payment of $2.6 million to a private Indiana university to open a branch site in the city.

The justices said Wednesday they'll consider the Arizona Court of Appeals' finding that Huntington University's promise to Peoria to invest in the university's own business was adequate consideration under an Arizona Constitution provision prohibiting public subsidies to private entities without a direct public benefit.

The case brought by taxpayers who challenged the incentive arrangement also involves a commercial real estate firm's renovation of its own property for its own private profit.

A divided Court of Appeals panel in January upheld a Tax Court judge's ruling that Peoria’s payments to Huntington University and Arrowhead Equities didn't violate the Constitution's Gift Clause.

The appeals court said the expenditures were for a public purpose and that taxpayers challenging the incentives didn't prove the benefits to Peoria were inadequate when compared against the value of the incentives.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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