- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
GE buys stake in new Enel wind power farm
(Reuters) - General Electric's Energy Financial Services has bought a 51 percent stake in a $375 million Oklahoma wind farm being built by Italy's Enel Green Power (EGPW.MI), the companies said on Monday.
The Chisholm View project, which will have a capacity of 235 megawatts, will be completed in 2012, allowing it to qualify for a federal subsidy that will expire at the end of the year.
Electricity from the project, which will use GE's 1.6-MW turbines, will be sold to Southern Co's (SO.N) utility Alabama Power Co under a 20-year contract.
GE's Energy Finance Services previously invested in wind projects in Kansas and Texas built by Enel Green Power, which is a unit of Italy's Enel Group (ENEI.MI).
(Reporting By Matt Daily; Editing by Maureen Bavdek)
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