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| 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 |
| U.N. renews Western Sahara mission, but without rights monitors Wednesday, Apr 30, 2014 12:07 AM PDT By Louis Charbonneau UNITED NATIONS (Reuters) - The U.N. Security Council renewed a U.N. peacekeeping mission in the disputed North African territory of Western Sahara for another year on Tuesday, and urged all sides to respect human rights, but it did not call for the United Nations to monitor abuses as rights groups have advocated. U.N. Secretary-General Ban Ki-moon, like the rights advocacy groups, has called for the U.N. peacekeeping mission, known as MINURSO, to monitor and report on human rights abuses in the territory, traditionally backed by France, Morocco has long rejected the idea. Full Story | Top |
| Seeking deals, France rolls out red carpet for Angolan leader Tuesday, Apr 29, 2014 11:55 PM PDT  By John Irish PARIS (Reuters) - French officials welcomed Angola's president on Tuesday for the first time in 20 years, hailing his economic reforms in the clearest sign yet that Paris is turning its diplomatic focus to winning overseas contracts. Relations were strained in the past decade after the "Angolagate" trial over arms sales to Angolan President Eduardo dos Santos's MPLA party during the civil war in the 1990s, which a Paris court said broke a United Nations arms embargo. Dos Santos, in power since 1979, made clear from the start he was displeased about old arms deals being exposed in court, prompting former French President Nicolas Sarkozy to fly to Luanda in May 2008 to mend fences with the African leader. After several convictions in 2009, Angola signalled the court ruling would have a negative impact on ties with Paris. 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 |
| Fire kills 10 at Russian arms depot, briefly halts Transsiberian railway Tuesday, Apr 29, 2014 11:20 PM PDT Explosions caused by a fire killed at least 10 people at a munitions depot in eastern Siberia and temporarily closed a section of the Transsiberian railway, Russia's Defense Ministry said. Engineers found a truck with 10 corpses in the early hours of Wednesday, a Defense Ministry spokesman told Rossiya-24 television, which carried pictures of flames swirling high in the night sky and turning it red. More than 1,000 residents were evacuated, the local Emergencies Ministry said. As the wildfire spread, a logistics officer decided to evacuate those guarding the depot but the group were hit by another explosion as they tried to escape and died within minutes, spokesman Igor Konashenkov said. Full Story | Top |
| Sinopec, Huadian to take combined 15 percent stake in Canada LNG project Tuesday, Apr 29, 2014 10:41 PM PDT  HONG KONG (Reuters) - China Petrochemical Corp (Sinopec Group) said on Wednesday it and state-owned power group China Huadian Corp have agreed to take a combined 15 percent stake in a liquefied natural gas (LNG) project controlled by Malaysian state oil firm Petronas in Canada. Sinopec Group will hold 10 percent of the Pacific Northwest LNG project on Canada's Pacific Coast, while Huadian will have 5 percent after the transaction, it 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 |
| Some U.S. companies starting to feel pain from Ukraine crisis Tuesday, Apr 29, 2014 10:16 PM PDT  By Lewis Krauskopf NEW YORK (Reuters) - Turmoil in Ukraine and a series of Western sanctions on Russia are starting to hurt some U.S. corporations doing business in the region, with the latest round of U.S. penalties threatening to complicate matters further. There are also worries about a possible backlash in Russia against Western products. U.S. Treasury Secretary Jack Lew said on Tuesday that international sanctions on Russia were putting pressure on Russia's economy, and more actions could be taken if Moscow did not step back from the Ukraine crisis. Full Story | Top |
| China says could add big-polluting regions to carbon market Tuesday, Apr 29, 2014 10:05 PM PDT China is developing plans to expand its pilot carbon trading schemes into more of its key industrial regions, a top climate official said, as the country continues its drive to curb emissions. China, the world's biggest emitter of climate-changing gases, has over the past 10 months launched pilot carbon markets in six cities and provinces with a view to rolling out a national market later in the decade. But the government is already looking at plans to scale up the regional schemes, Su Wei, a senior climate official with the National Development and Reform Commission (NDRC), was cited as saying by state radio. Su did not specify a timeline, but such steps would significantly broaden the reach of China's greenhouse gas regulations and bolster its role as the world's second biggest hub for emissions trading after the European Union. Full Story | Top |
| U.S. tornadoes kill 34, threaten more damage in South Tuesday, Apr 29, 2014 09:37 PM PDT  By Emily Le Coz TUPELO Miss. (Reuters) - At least 34 people were killed in tornadoes unleashed by a ferocious storm system that razed neighborhoods in the southern United States over the last three days and threatened more destruction in heavily populated parts of the South on Tuesday. In Arkansas and Mississippi, the hardest hit of six states struck by the storm, there have been 27 confirmed storm-related deaths and more than 200 people injured as tornadoes reduced homes to splinters, snapped trees like twigs and sent trucks flying through the air like toys. Deaths were also reported in Oklahoma and Iowa on Sunday, and Alabama and Tennessee on Monday. The White House said President Barack Obama declared a major disaster in Arkansas and ordered federal aid to supplement state and local recovery efforts. Full Story | Top |
| Exelon to buy Pepco Holdings for more than $5.4 billion: Bloomberg Tuesday, Apr 29, 2014 09:28 PM PDT  (Reuters) - Nuclear power company Exelon Corp agreed to buy utility company Pepco Holdings Inc for more than $5.4 billion in cash, Bloomberg reported, citing people familiar with the transaction. Pepco, with a market capitalization of about $5.71 billion, operates utilities in Delaware, Maryland and New Jersey and serves about 2 million customers. The deal is expected to be announced as early as Wednesday morning, according to the report. (http://r.reuters.com/wav88v) Exelon and Pepco were not immediately available for comment outside regular U.S. business hours. ... Full Story | Top |
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