Business News Archive - April 24, 2009

Move Penalizes Green Biofuels and Lets Oil Off the Hook WASHINGTON, April 24 /PRNewswire-USNewswire/ -- Today, the California Air Resources Board voted to enact a standard that unfairly penalizes biofuels as compared to other fuels, including gasoline. "We're disappointed with the Board's vote," said General Wesley Clark, co-chairman of Growth Energy.

PARIS, April 24 /PRNewswire-FirstCall/ -- - Sales decrease of 33.4%, better than the evolution of automobile production which dropped by 38% worldwide - Slight improvement since March in Europe thanks to vehicle scrapping programs and in some emerging markets - Sound liquidity situation - Operating loss of 66 million euros and reinforcement of the cost reduction and cash control plan - New objectives for 2009: ­ Reduction of investments by one-third versus 2008 ­ Annualized savings of 600 million euros, of which 500 million euros in 2009; 183 million euros achieved in the first quarter ­ Consumption of free cash flow[1] not significantly exceeding restructuring expenses Following the meeting of its Board of Directors yesterday, Valeo presented its results for the first quarter 2009. In million euros 1 January - 31 March Q4 (Unaudited)

ROTTERDAM, Netherlands, April 24 /PRNewswire/ -- LyondellBasell Industries today announced that LyondellBasell Industries AF S.C.A. has been voluntarily added to Lyondell Chemical Company's reorganization filing under Chapter 11 of the U.S.

PARIS and BERLIN, April 24 /PRNewswire/ -- - Presentation of the 2009 International Transport Forum Programme, the World's Leading Transport Sector Meeting, bringing together 52 Ministers and Top Business Leaders in Leipzig "Difficult times require new thinking," said the Secretary General of the International Transport Forum (ITF) Jack Short in Berlin on Friday, "Because in the face of the current economic downturn, global transportation faces major challenges." But at the same time, Mr.

ABU DHABI, United Arab Emirates, April 24 /PRNewswire/ -- Tamouh Investments, a leading Abu Dhabi based master developer, announced the creation of a new subsidiary, as it moves to reach end-users.

OKLAHOMA CITY, Okla., April 24 /PRNewswire-FirstCall/ -- SandRidge Energy, Inc. (NYSE: SD) today announced that it has priced its previously announced registered underwritten public offering of 15,200,000 shares of its common stock, 3,000,000 of which are being offered by Tom L.

STAMFORD, Conn., April 24 /PRNewswire/ -- Olympus Partners, a Stamford, Conn.-based private equity investor, has invested $50 million in equity and subordinated debt in Atlas Industrial Services LLC (the "Company"), which, through its operating subsidiary Phoenix Services LLC ("Phoenix Services"), provides mill services to the global steel industry.

GENEVA, Switzerland, April 24 /PRNewswire-FirstCall/ -- CalciTech Ltd. (OTCBB: CLKTF) announces it has concluded the restructuring of its US$ 4,642,000 6% Unsecured Convertible Debentures due December 2009 as part of its restructuring announced earlier this year. Debenture principle and interest, amounting to US$ 2,526,064, have been converted into common stock of CalciTech Ltd at the placement price of US$0.095 resulting in the issue of 26,590,147 common shares. The balance of the principle, $2,321,000, has been extended for a further term to 31st December, 2010 at a reduced rate of interest of 1.75% per annum. Revised conversion terms have been agreed from US$1.75 per share to US$0.75 per share to reflect the significant reduction in interest charge.

- 2009 first-quarter earnings: GAAP and ongoing $0.89 per share - Impact of lower off-system sales and reduced industrial sales somewhat offset by higher rates in several jurisdictions - Company reaffirms its 2009 ongoing guidance of between $2.75 and $3.05 per share COLUMBUS, Ohio, April 24 /PRNewswire-FirstCall/ -- AMERICAN ELECTRIC POWER Preliminary, unaudited results 1st quarter ended March 31 2008 2009 Variance Revenue ($in billions) 3.5 3.5 0.0 Earnings ($in millions): GAAP 573 360 (213) Ongoing 410 360 (50) EPS ($): GAAP 1.43 0.89 (0.54) Ongoing 1.02 0.89

Word of the Day
  • Emitting flashes of light; glittering.
The word 'coruscant' comes from a Latin word meaning 'to flash' or 'to sparkle'.