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| France seeks alliance, not 'absorption' of Alstom: Montebourg Wednesday, Apr 30, 2014 12:49 AM PDT Economy Minister Arnaud Montebourg said on Wednesday that he told General Electric the French government was ready to entertain a solution for Alstom that enabled it to have a future as a French company. We prefer an equal alliance ... not absorptions," Montebourg told a French parliament committee after Alstom said it would review a binding offer from GE for its energy business by end-May. "It will be from the combination of economic and industrial interests, but also of economic and industrial sovereignty, that the right solution will emerge enabling Alstom to have a future in France - because what interests me is France," he said. Full Story | Top |
| Oklahoma botches execution, raising questions on death penalty in U.S. Wednesday, Apr 30, 2014 12:33 AM PDT  By Heide Brandes OKLAHOMA CITY (Reuters) - Oklahoma inmate Clayton Lockett died during a botched execution on Tuesday, minutes after a doctor had called a halt to the procedure, raising more questions about new death penalty cocktails used by the state and others. Thirteen minutes after a doctor administered a lethal injection at the state's death chamber in McAlester, Lockett lifted his head and started mumbling. The troubled execution was expected to have national implications, with lawyers for death row inmates having argued that new lethal injection cocktails used in Oklahoma and other states could cause undue suffering and violate constitutional protections against cruel and unusual punishment. "This could be a real turning point in the whole debate as people get disgusted by this sort of thing," said Richard Dieter, the executive director of the Death Penalty Information Center, which monitors capital punishment. Full Story | Top |
| Alstom says Bouygues to remain shareholder after GE deal Wednesday, Apr 30, 2014 12:16 AM PDT PARIS (Reuters) - Alstom Chief Executive Patrick Kron said on Wednesday that Bouygues would remain a long-term shareholder and keep its 29 percent stake if Alstom sold its energy divisions to refocus on its transport business. The transport unit would have a more solid balance sheet if the energy business was sold to General Electric and could make acquisitions, Kron said on a conference call after the U.S. group confirmed its binding offer. (Reporting by Benjamin Mallet; Editing by James Regan) Full Story | Top |
| GE says talks with France on Alstom productive, to boost jobs Wednesday, Apr 30, 2014 12:11 AM PDT By Lewis Krauskopf NEW YORK (Reuters) - The head of General Electric said on Wednesday talks with the French government on its offer for Alstom's energy assets had been "productive" and expressed confidence that the deal would go through despite a potential rival offer from Germany's Siemens. "We think we've got a good deal and it's going to be executed," Chief Executive Jeff Immelt told reporters. Immelt was speaking from Paris where he held talks earlier this week with French President Francois Hollande, who has said the government will focus on preserving jobs in any deal to prop up the struggling train and turbine maker. "We have had good, productive two-way dialogue this week" with the French government, Immelt said. Full Story | Top |
| UN chief urges South Sudan's Kiir help end violence, anti-UN campaign Tuesday, Apr 29, 2014 11:51 PM PDT  U.N. Secretary-General Ban Ki-moon urged South Sudan President Salva Kiir on Tuesday to publicly call for an end to a "negative campaign" against U.N. peacekeepers and to bring to justice those responsible for attacks there on civilians and the United Nations. In a phone call with Kiir, the U.N. chief called for "an immediate halt to the vicious fighting and the appalling killing of South Sudanese civilians," according to a statement from Ban's press office. More than 1 million people have fled their homes since fighting erupted in December between troops backing Kiir and soldiers loyal to his sacked deputy, Riek Machar. Thousands of people have been killed and tens of thousands have sought refuge at U.N. bases around South Sudan, the world's youngest country, after the violence spread. Full Story | Top |
| Alstom to review GE offer for energy business Tuesday, Apr 29, 2014 11:45 PM PDT  By James Regan PARIS (Reuters) - France's Alstom said on Wednesday it would review a binding offer from General Electric for its energy business by the end of May but left the door open for a competing bid from Germany's Siemens. The decision to give Siemens more time came after President Francois Hollande's government balked at GE's initial overtures last week and insisted any outcome must safeguard jobs at the cash-strapped group, once a champion of French industry, while ensuring France's energy independence. GE said its offer for Alstom's thermal power, renewable power and grid businesses totaled $16.9 billion, including enterprise value of $13.5 billion and $3.4 billion of net cash. "Alstom would use the sale proceeds to strengthen its transport business and give it the means of an ambitious development, pay down its debt and return cash to its shareholders," Alstom said in a statement. Full Story | Top |
| Alstom board accepts 10 billion euro GE offer for energy unit-paper Tuesday, Apr 29, 2014 10:20 PM PDT PARIS (Reuters) - The board of French trains-to-turbines maker Alstom has accepted General Electric's 10 billion euro offer for its energy division, French daily Le Figaro said on its website. Alstom declined to comment on the report. The firm will issue a statement Wednesday morning around 7 a.m. (0500 GMT). GE also declined to comment. Le Figaro said the Alstom board, at its meeting on Tuesday, had accepted GE's firm and financed offer. (Reporting by Geert De Clercq and Lewis Krauskopf; Editing by Robin Pomeroy) Full Story | Top |
| GE vows to boost French jobs with Alstom bid - letter Tuesday, Apr 29, 2014 10:20 PM PDT General Electric Chief Executive Jeffrey Immelt said in a letter to French President Francois Hollande that if GE were to buy the energy unit of Alstom, it would boost employment in France and locate global headquarters for several key businesses in the country. GE confirmed that the letter, published by French financial daily Les Echos, was authentic. GE said it would also locate the headquarters for grids, hydraulics, offshore wind and steam turbines in France, and would work with the French government, utility EDF and nuclear group Areva to protect France's nuclear sector and its exports. It would also consider selling Alstom's wind turbine activities to French investors. Full Story | Top |
| Alstom accepts GE offer for its energy unit: sources Tuesday, Apr 29, 2014 10:20 PM PDT PARIS (Reuters) - The board of French transport-to-turbines group Alstom has accepted General Electric's offer for its energy unit, two sources familiar with the situation told Reuters. Both sources said GE was not in exclusive talks with Alstom, which is also set to receive an offer from Germany's Siemens. One source said GE had offered to pay about 10 billion euros ($13.82 billion) for the unit. (Reporting by Geert De Clercq) Full Story | Top |
| Colorado symphony strikes high note in cannabis-friendly concert Tuesday, Apr 29, 2014 10:03 PM PDT The Colorado Symphony is giving new meaning to hitting a high note, announcing on Tuesday a bring-your-own marijuana concert series, the first of which features its chamber ensemble and South-of-the-border food and booze. The U.S. states of Colorado and Washington became the first to legalize the possession and use of recreational cannabis in 2012, and the first retail pot shops opened in Colorado in January. The orchestra's "Classically Cannabis: The High Note Series" seeks to tap the blossoming market in a series of summer fundraising concerts, at a time when more than half of Colorado voters believe legalizing recreational marijuana has been good for the state, a recent poll showed. The Denver Post newspaper reported the events are aimed at boosting attendance, including drawing younger concert-goers, at a time when the Colorado Symphony has struggled financially. Full Story | Top |
| J&J suspends sale of device used in fibroid surgery - WSJ Tuesday, Apr 29, 2014 08:01 PM PDT (Reuters) - Johnson & Johnson suspended sale of devices used in fibroid surgery amid concerns about their potential to spread a rare but deadly cancer, the Wall Street Journal reported. J&J was halting world-wide sale, distribution and promotion of the tools called power morcellators but not permanently pulling them from the market, the Journal said. ... Full Story | Top |
| Exclusive: Sanofi explores $7 billion-plus drug divestiture - sources Tuesday, Apr 29, 2014 07:53 PM PDT  By Sophie Sassard, Olivia Oran and Soyoung Kim LONDON/NEW YORK (Reuters) - Sanofi SA is looking to sell a portfolio of mature drugs that could fetch between $7 billion and $8 billion, according to people familiar with the matter, yet another example of drugmakers trying to shed non-core assets and focus on high-growth areas. The French pharmaceutical company is working with Evercore Partners Inc and has contacted potential buyers in the past few months, the people said on Tuesday, asking not to be named because the matter is private. Generic drugmakers and specialty pharmaceutical companies are seen as logical buyers for the Sanofi drug portfolio, said the people familiar with the matter. Sanofi could not be immediately reached for comment, while Evercore declined to comment. Full Story | Top |
| Rugby league-NRL offers McKinnon 'job for life' Tuesday, Apr 29, 2014 06:18 PM PDT Australia's National Rugby League has pledged a "job for life" for Newcastle Knights forward Alex McKinnon, whose neck was broken in a match last month. The 22-year-old suffered the sickening injury against Melbourne Storm on March 24 after being dumped heavily into the turf in a lifting tackle by three opposition players. One of the tacklers was banned for seven matches by the NRL. "His spirit and determination are an inspiration for all of us," NRL chief executive Dave Smith said in a media release on Wednesday. Full Story | Top |
| Alstom accepts 10 billion euro GE bid for its energy unit Tuesday, Apr 29, 2014 04:36 PM PDT  By Matthieu Protard and Maria Sheahan PARIS/FRANKFURT (Reuters) - The board of Alstom accepted General Electric's 10 billion euro ($13.82 billion) bid for its energy unit on Tuesday, several sources familiar with the situation told Reuters. Sources said GE is not in exclusive talks with Alstom. The French transport-to-turbines group is also set to receive an offer from its much larger German competitor Siemens AG , which said it had sent a letter to Alstom after its managing and supervisory boards had decided to make an offer. Alstom is expected to make a statement about the two offers early on Wednesday, before its shares, suspended since late last week, resume trading. Full Story | Top |
| Georgia governor signs law to drug test some welfare recipients Tuesday, Apr 29, 2014 04:23 PM PDT  By David Beasley ATLANTA (Reuters) - Georgia Governor Nathan Deal signed legislation on Tuesday requiring some applicants for food stamps and welfare benefits to undergo a drug test. Under the bill, testing could be required if authorities have a "reasonable suspicion" of drug use. Drug use is a barrier to finding and keeping a job, Deal spokesman Brian Robinson said. Debbie Seagraves, executive director of the American Civil Liberties Union of Georgia, called the legislation "shameful" and said it violated the constitutional protection against unreasonable searches. Full Story | Top |
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