Troubled nuclear group wins loan extension

Troubled nuclear group British Energy was today handed a one-year extension to a £650m (€946m) emergency loan agreement with the British government in a bid to tackle its financial problems.

The company, which was on the brink of insolvency before the government stepped in last September, said the facility will now be extended to September 2004 to enable it to see out a restructuring programme announced almost four months ago.