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☆ Power outage hits Balkan states as heat overloads system, minister says
▼ + stars: | 2024-06-22 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Montenegro’s energy minister said the shutdown was caused by a sudden increase in power consumption brought on by high temperatures, and by the heat itself overloading systems. “This was just waiting to happen in this heat,” Gentiana, a 24-year-old student in Montenegro’s capital Podgorica, told Reuters. Suppliers in the four countries said they started restoring supply by mid-afternoon and power was largely back by the evening. Power in Albania was restored within half an hour, but the country remained at a high risk of further shutdowns as power usage and heat levels were still high, he said. Western Balkan nations have seen a boom in solar energy investment, meant to ease a power crisis that had threatened a shift away from coal.

Persons: ”, Sasa Mujovic, Belinda Balluku, Balluku Organizations: CNN, Reuters, Suppliers, Air, HRT, Albanian Energy, North Macedonia’s Energy Regulatory Commission Locations: Montenegro, Bosnia, Albania, Croatia’s, Balkans, Montenegro’s, Podgorica, European, Bosnia’s, Sarajevo, Banja Luka, Mostar, Croatian, Split, Greece, Croatia

☆ Nigeria plunged into darkness as union workers shut down national grid in minimum wage protest
▼ + stars: | 2024-06-03 | by ( Nimi Princewill | ) edition.cnn.com time to read: +4 min

Cane-swinging union workers were also seen in photos circulating on social media Monday ordering personnel of the country’s tax agency out of their offices. This strike comes after failed negotiations with the government to raise the federal minimum wage. The unions’ demands include raising the minimum wage from 30,000 naira ($22.4) to 494,000 naira ($369.6). Despite being Africa’s fourth-largest economy, Nigeria’s minimum wage is not among the continent’s top ten, lagging far behind countries like Seychelles, where workers receive a minimum wage of $465.4 monthly. 30k or 60k minimum wage in 2024 Nigeria is unsustainable and unacceptable,” wrote lawyer Festus Ogun in a post on X.

Persons: Bayo Onanuga, Onanuga, Olusina Ajidahun, “ I’m, ”, Lateef Fagbemi, Festus Ogun, Dipo Awojide, Bola Tinubu’s, Ajuri Ngelale Organizations: CNN, Transmission Company, Nigeria, Nigerian Labor Congress, Trade Union Congress, TUC, TCN, Health, Healthcare, Nigerian, Onanuga, NLC Locations: Nigeria, Seychelles, Lagos, Abuja, Nigerian

☆ Here are Thursday's biggest analyst calls: Tesla, Apple, Microsoft, Delta, Disney, Snowflake, Okta, Salesforce & more
▼ + stars: | 2024-02-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +10 min

Goldman Sachs reiterates Salesforce as buy Goldman said it's standing by its buy rating following the company's robust earnings report on Wednesday. "Multiple high-profile catalysts should double revs by FY28 & support an Outperform rating with a $54 PT." "We initiate coverage of Gates Industrial (GTES) with a Buy rating and $21 price target. The more aggressive stance follows a near week long sell-off in COLD shares following 4Q results and initial 2024 guidance." Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by its buy rating after a meeting with Microsoft investor relations.

Persons: Jefferies, Roth, Roth MKM, Morgan Stanley downgrades Snowflake, Morgan Stanley, Goldman Sachs, Salesforce, Goldman, it's, TD Cowen downgrades Macy's, Telsey, TD Cowen, Wells, Needham, " Jefferies, Tesla, Coupang, Baird, Cantor Fitzgerald, Cantor, Gates, Piper Sandler, Piper, Raymond James, William Blair, Gordon Haskett downgrades, Haskett, Frank Slootman's Organizations: Jefferies, Barrick Gold, NEM, UBS, Apple, Mar, Bitdeer Technologies, BTC, Citi, United Airlines, Delta, Delta Air Lines Inc, DAL, Deere & Company, American Airlines Citi, Catalyst Watch, Reliance, Star India, JV, UBS downgrades Republic Services, Downside, RBC, Xenia Hotels, Resorts, Deutsche Bank, Deutsche, Products, Gates, NTR, LXU, UW, Bank of America, underperform Bank of America, Realty Trust, Fidelity, Korn, Microsoft, Macquarie Locations: U.S, China, American's, DIS's, Xenia, Federal, Korea

☆ Origin Energy shares surge after regulator clears Brookfield's $9.8 bln bid
▼ + stars: | 2023-10-09 | by ( Scott Murdoch | トムソンロイター | Scott Murdoch Has Been A Journalist For More Than Two Decades Working For Thomson Reuters | ) www.reuters.com time to read: +4 min

Australian Super, the largest investor, raised its stake to 14% last month and called the shares undervalued. Perpetual, a major Australian fund manager and Origin shareholder, has pushed Brookfield and its partner, U.S. private equity firm EIG, to consider raising their offer to win Origin, according to local media reports. Origin shares jumped to A$9.19 in early trading, well above the A$8.91 per share price of the consortium bid lodged in March, on speculation a higher offer could be forthcoming. Under the consortium deal, Origin will be broken up into two businesses, with its energy markets arm including its electricity generation and electricity and gas retail businesses to be acquired by Brookfield. Brookfield would also be prohibited from selling more than 10% of either Origin or AusNet in the future to one party.

Persons: Dado Ruvic, Max Vickerson, I'm, Vickerson, Newmont, Gina Cass, Gottlieb, Brookfield, Scott Murdoch, Jamie Freed 私 Organizations: Brookfield, REUTERS, SYDNEY, Origin Energy, Brookfield Corp, Australian Competition, Consumer Commission, stockbroker Morgans, Perpetual, Newcrest Mining, Energy, ACCC, AusNet Services Locations: Australian, Brookfield, Australia, Victoria

☆ Private equity gears up for a deal fest Down Under
▼ + stars: | 2023-07-11 | by ( Antony Currie | ) www.reuters.com time to read: +5 min

So it’s fitting that one of the country’s most hotly contested deals involving overseas private equity firms is for Rugby Australia. It’s also a teaser for the deal fest buyout shops are gearing up for Down Under. Another veteran, Blackstone (BX.N), has doubled its private equity headcount over the past couple of years. Reuters GraphicsWith $676 billion of private equity dry powder in the Asia-Pacific region, according to consultancy Bain & Co, regularly capturing a two-fifths share implies up to $270 billion of capital could be heading Down Under in the coming years. Australia, he said, was too small and too competitive for private equity firms to make money.

Persons: It’s, Blackstone, EQT, they’re, it’ll, there’s, Brian Hong, Robyn Mak, Thomas Shum Organizations: MELBOURNE, Reuters, Rugby Australia, CVC Capital Partners, Australian Financial, Down, Brookfield Asset Management, CVC, Nine Entertainment, AusNet Services, MidOcean Energy, Origin Energy, Retirement Trust, Consumer, Sydney Airport, Bain & Co, Reserve Bank of Australia, U.S . Federal Reserve, Macquarie Capital, Thomson Locations: Asia, Australia, China, People’s Republic, Asia Pacific, Pacific

☆ MSCI to cut weighting of four Adani firms in wake of Hindenburg report
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +1 min

People walk past a screen displaying news featuring on Adani Group inside the BSE building in Mumbai, India, on Thursday, Feb. 2, 2023. Index provider MSCI said it will cut the weightings of four Adani Group companies, including flagship firm Adani Enterprises , in its indexes after reassessing the number of shares that are freely traded. The move comes in the wake of a Jan. 24 report by U.S. short seller Hindenburg Research that has accused the Indian conglomerate of improper use of offshore tax havens and stock manipulation. The Hindenburg report has plunged the group, led by billionaire Gautam Adani, into crisis, wiping some $110 billion off the value of the group's main seven listed firms. In addition to Adani Enterprises — the group's coal-miner-cum-incubator for new projects, MSCI also plans to cut the weightings for Adani Total Gas — a venture with France's TotalEnergies and Adani Transmission , a power transmission company.

☆ 'Sabotage' likely culprit for Brazil's Eletrobras towers collapse, sources say
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, Jan 13 (Reuters) - The collapse of two transmission towers operated by Brazilian power company Eletrobras (ELET6.SA) happened after someone cut the cables used to secure the towers, three sources with knowledge of the matter said on Friday. On one of the towers, "cut wires were found, in a sign of vandalism," said a second source. A third tower operated by power transmission company Evoltz had also collapsed on Monday. Another tower operated by transmission firm Taesa (TAEE11.SA) suffered a vandalism attempt on Thursday. However, the tower was not knocked down and there was no interruption in power transmission, Taesa said.

SAO PAULO, Jan 10 (Reuters) - Brazilian power company Eletrobras (ELET6.SA) is investigating whether the collapse of two transmission towers is related to anti-government riots on Sunday after finding signs of sabotage, according to two people familiar with the probe. The towers - one of which fell on Sunday and the other in the early hours of Monday - were operated by Eletrobras subsidiaries Furnas and Eletronorte. Eletrobras, the mines and energy ministry and regulatory agency Aneel have set up a crisis committee to monitor potential threats to Brazil's power grid, according to a third source. A third tower operated by power transmission company Evoltz also collapsed, according to a report by Brazil's National Electric System Operator (ONS) on Tuesday. Eletrobras, Furnas and Evoltz did not immediately respond to requests for comment.

☆ Poland says to take over Gazprom's Polish assets
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +1 min

WARSAW, Nov 14 (Reuters) - Poland will take over Gazprom's (GAZP.MM) Polish assets, a minister said on Monday, adding the move concerned the Russian company's 48% stake in Europolgaz, which owns the Polish section of the Yamal gas pipeline. The compulsory administration will ensure security of the critical infrastructure used for gas transit, Polish Development Minister Waldemar Buda, said in an emailed statement. Russia at the same time halted gas exports to Poland after Warsaw refused to pay in roubles. While Europolgaz owns the 684-kilometer long Polish section of the Yamal, the pipeline is operated by Polish state-owned gas transmission company Gaz-System. After Gazprom was sanctioned, the pipeline operator did not have a partner for making key decisions on the infrastructure.

☆ Ukraine says Russia hits power site near Kyiv
▼ + stars: | 2022-10-15 | by ( ) www.cnbc.com time to read: +6 min

"Putin knew he would not be able to sustain high-intensity missiles strikes for a long time due to a dwindling arsenal of high-precision missiles," the think tank said. Vorontsov explained the move by citing Moscow's concern about the possibility of the deployment of U.S. nuclear weapons in Poland near the borders of Belarus and Russia. He emphasized that in compliance with the Treaty on Non-Proliferation of Nuclear Weapons, Russia had no intention for now of fitting nuclear warheads to Belarusian weapons systems or transferring nuclear warheads to the territory of Belarus. He said the shelling of the city of Nikopol, which is located across the Dnieper from the Russian-occupied Zaporizhzhia Nuclear Power Plant, damaged a dozen residential buildings, several stores and a transportation facility. "Working in very challenging conditions, operating staff at the Zaporizhzhia Nuclear Power Plant are doing everything they can to bolster its fragile offsite power situation," Grossi said.

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