Nuclear group British Energy reports huge losses

Struggling nuclear group British Energy showed the extent of its troubles today as it reported losses of £337m (€552m) for the last six months – equating to £1.9m (€2.94m) a day.

The group, which is being kept afloat by a British government lifeline, said it was at a “bleak point” in its fortunes and that it could face administration if creditors failed to approve a crucial restructuring scheme.