The European Commission’s shake-up of the gas and electricity markets in Europe has been met with support and dissent alike. But one thing is clear: the efforts are tapping into fundamental questions over the authority of independent member states versus the union’s executive body.
Honeywell International Inc. is facing a federal antirust lawsuit for allegedly using monopoly power in a niche chemical industry to break a pricing agreement with its biggest customer for the product.
Suggesting that its stint in bankruptcy court could stretch into 2007, power generator Calpine Corp. is looking to extend its Chapter 11 plan through 2006.
The Brazilian government has opened two probes into European and Japanese power distribution companies, exploring whether the firms engaged in price fixing for equipment used to generate electricity in the country.
A move by Spain's largest electricity supplier to stave off a hostile takeover bid by Gas Natural SDG SA has been upheld by a Spanish commercial court, which this week temporarily suspended Gas Natural's €22.6 billion offer while it investigates Endesa's appeal against the bid.
Belgian Prime Minister Guy Verhofstadt plans to hold discussions with the French energy utilities Gaz de France SA and Suez SA in order to obtain market concessions on their blockbuster merger deal.
Belgian Prime Minister Guy Verhofstadt, worried that the impending merger between French utilities Gaz de France SA and Suez SA would dominate his country’s energy market, has asked the European Competition Commissioner Neelie Kroes to investigate the matter.
With the Department of Justice issuing more subpoenas to chemical companies this week, the latest requests suggest that the DOJ’s amnesty program has become an increasingly effective tool in antitrust investigations, one expert speculates.
WCI Steel Inc. said on Wednesday that the company is moving closer to fiscal solvency, saying it would give noteholders a majority stake and possibly dish out up to $25 million to safeguard a pension plan in the hopes of ending its three-year bankruptcy ordeal.
The European Commission has affirmed that merger laws give it the authority to review the proposed takeover of Spain’s Endesa SA by Germany’s E.On AG. The same laws had prevented the EC from reviewing the proposed merger of Endesa and Barcelona-based Gas Natural last year.
Hoping to gain a competitive edge in the construction material industry, USG Corp. has asked a bankruptcy court to allow it to fund the $18 million purchase of a Michigan paper mill through a new subsidiary.
Amid a growing sensitivity to energy prices and national protectionism across the continent, the first full debate on whether the European Union should adopt a bid by the European Commission to instate a single regulator to oversee the country’s €250 billion electricity and natural-gas markets has left energy ministers divided.
Senior oil executives are set to testify before the Senate Judiciary Committee on Tuesday about high oil and gas prices and competition in the industry, which are key parts of legislation proposed by Committee Chairman Arlen Specter, R-Pa.
An attorney for Jeffrey Skilling, the former CEO of Enron Corp., continued his court room offensive against a key prosecution witness, questioning the legitimacy of a memo detailing improper side deals approved by Skilling designed to conceal company losses.
Despite Yukos’ attempts to wriggle out of bankruptcy, Moscow’s arbitration court has decided to open bankruptcy proceedings against the embattled oil giant in the wake of a petition filed by the company’s bank creditors.
Chicago Bridge & Iron Co. N.V., the global engineering and construction firm, has been slammed with a class action lawsuit for accounting chicanery and misleading investors about its true financial status.
Tired of being dragged down by bankrupt power generator Calpine Corp., Acadia Power Partners LLC has asked a bankruptcy court to order Calpine to fork over $4.7 million or permit it to sell its power to other utilities.
Gaz de France SA and Suez SA, the French energy companies currently involved in a blockbuster merger, will have to sell off some of their Belgian businesses to prevent monopolizing the country’s energy market, Belgium's prime minister said Wednesday.
Enron Corp. chief executive Kenneth Lay lied over and over again about the company’s financial health, despite full knowledge of the energy giant’s impending doom, Enron’s former chief financial officer testified Monday.
The evidence continues to mount in the corruption trial of Enron founder Ken Lay and former chief executive Jeffery Skilling, as an ex-broadband unit executive told a jury on Monday that he lied to government regulators three years ago concerning the division’s financial outlook.