CEZ Acquires 20% Stake in Rolls-Royce SMR

Rolls-Royce has sold a 20% stake in its small modular reactor (SMR) business to Czech energy company CEZ, aiming to enhance its position in Europe's nuclear energy market. CEZ plans to deploy up to 3 gigawatts of electricity through the partnership, with the first reactor expected to be operational by 2035 at the Temelin site. This strategic deal is anticipated to accelerate investment in sustainable energy solutions and strengthen the collaboration for nuclear power across Europe. Rolls-Royce retains a 50% stake in the SMR business, with plans for further divestment. The collaboration is seen as a significant step in modernizing nuclear energy infrastructure, potentially leading to a fleet of reactors contributing to the region's energy needs. Meanwhile, broader economic challenges persist as Santander announces over 1,400 job cuts in the UK, reflecting the ongoing struggles of the banking sector amid rising inflation.