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RWE Innogy abandons Atlantic Array offshore wind power project

2013-11-27 01:00:00| Power Technology

RWE Innogy has pulled out of the Atlantic Array offshore wind power project in the Bristol Channel due to technical challenges including substantially deeper waters and adverse seabed conditions that made the project uneconomical.

Tags: power project wind array

Dismay in Warsaw as Japan abandons greenhouse target

2013-11-16 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

Climate News Network: Japan shocked delegates at the UN Climate Conference Friday by abandoning its plans to cut greenhouse gas emissions by 25 percent by 2020. Instead it will increase them by 3.1 percent. The announcement, made Thursday in Tokyo in the middle of the night Warsaw time, cited the shutdown of the nuclear industry in Japan following the Fukushima accident as a reason for abandoning the 25 percent target. But environment groups condemned this as a mere excuse. I have no way of describing my dismay....

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Indian Hotels abandons US$1.2b Orient-Express bid

2013-11-09 11:24:17| Steel - Topix.net

Indian Hotels, an arm of the giant Tata Group, has abandoned a $1.2-billion offer to buy Orient-Express Hotels, marking its second unsuccessful attempt to purchase the Bermuda-based luxury global chain.

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BlackBerry abandons sale, CEO steps down

2013-11-04 15:39:00| Telecompaper Headlines

(Telecompaper) BlackBerry has abandoned plans to sell the company and instead agreed a new investment and management team led by its largest shareholder, Fairfax Financial. The handset maker will issue USD 1 billion in convertible debt to institutional investors, including USD 250 million to be acquired by Fairfax. The seven-year debt at 6 percent annual interest can be converted at USD 10 per share, a 28.7 percent premium to the current share price, and represent a 16 percent stake in the company. As part of the new plan, Thorsten Heins is stepping down as CEO. John S. Chen, the former CEO of Sybase, will become executive chairman and be responsible for strategy and organisation at BlackBerry. Fairfax's CEO Prem Watsa will become lead director and chair the compensation, nomination and governance committee. This puts him in position to lead the process of appointing a new CEO at the company. Chen will serve as interim CEO until a successor for Heins is found. The announcement from BlackBerry comes the same day bids were due in a proposed auction of the company. According to press reports, a variety of potential acquirers were approached, ranging from Cisco to Qualcomm to Facebook, but few concrete offers emerged. Fairfax earlier offered to pay USD 4.7 billion to acquire all of BlackBerry, but media reports said it had trouble raising the full financing. BlackBerry did not name the other institutional investors involved in the debt issue.

Tags: sale steps ceo blackberry