News Archive - November 2008

NRG Energy board rejects Exelon bid again

NRG Energy Inc rejected Exelon Corp's $6 billion-plus takeover bid for the second time on Monday, saying the offer was too low.

Oil bounces back from 3-year low

Oil rose towards $50 a barrel on Friday, rebounding from a three and half year low and buoyed by rallies in Europe and Asian equities on talk that China may cut interest rates later in the day.

The Goodwyn gas producing platform stands in the North West Shelf, about 1,350 km (840 miles) north of Perth, in this undated handout photograph. REUTERS/Woodside/Handout

OpenHydro secures stake in Alderney

Irish tidal renewable company, OpenHydro, announced that it has secured a substantial equity interest in Alderney Renewable Energy Ltd.

SolarWorld in shock Opel offer, analysts dismissive

General Motors dismissed a surprise overture for its cash-strapped German unit on Wednesday as calls mounted for European governments to come to the aid of automakers hit by the global financial crisis.

A clock is pictured at a plant of German car manufacturer Opel in Bochum November 17, 2008. REUTERS/Ina Fassbender

October producer prices fall by record 2.8 percent

Producer prices posted a record decline in October as weak economic growth sent energy prices tumbling and chain store sales slipped, data on Tuesday showed, while home prices fell sharply in the third quarter.

A man fills up his pickup truck at a gas station in Charlotte, North Carolina, September 29, 2008. REUTERS/Chris Keane

Petro-Canada: Fort Hills partners defer mine decision

CALGARY, Petro-Canada said on Monday it will delay a final go-ahead for the mining portion of its planned C$21 billion ($17 billion) Fort Hills project, looking to the weak economy and falling oil to lower overheated costs that have plagued rival oil sand ventures.

Oil drops more than 3 percent on global recession fears

Oil rose near $56 a barrel on Tuesday, rebounding from a near 22-month low on stronger U.S. industrial output data, but fears that the global economic slump was further trimming fuel demand kept a lid on gains.

Thorntons Recycling reports €4.8m profit

Waste firm Thorntons Recycling made an operating profit of €4.8 million last year on the back of rising sales, despite the state of the Irish economy.

DCC posts strong H1 performance

Irish-based DCC has posted a first half operating profit of €60.6 million, up 17 percent on last year, while earnings were up 13 percent due to a strong performance from its energy division.

Constellation operating earnings tumble

Constellation Energy on Thursday said third-quarter operating profit tumbled due to poor results from its merchant business, which was hit by poor results from its energy trading business.

Weekly gasoline price lowest since Feb '07: EIA

U.S. retail gasoline prices declined in the latest week, the government reported on Monday, making prices at the pump on the eve of the presidential election the lowest since February 2007.