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SLC company plans to store natural gas in salt caverns A Utah company wants to develop eight salt caverns north of Delta to store up to 45 billion cubic feet of natural gas. Magnum Gas Storage, a subsidiary of Salt Lake City-based Magnum Development, calls its project one of the West's first large-scale salt-cavern natural gas storage facilities The Salt Lake TribuneMacquarie, Everbright Team Up on Funds Australia's Macquarie Group has set up two funds to invest in Chinese infrastructure businesses in a joint venture with Hong Kong and mainland-based China Everbright. Wall Street JournalRio collects $2bn for aluminium division Rio Tinto has finally sold its aluminium packaging division in a $2 billion deal that will enable the Anglo-Australian miner to reduce further its huge debt burden. Amcor, an Australian company, has agreed to buy the Paris-based division, which makes Mining.comRetirement: Goal-Based Investing Gains Traction More financial advisers now see the need for clients to focus on goals—rather than portfolio performance—to determine the annual income they'll need for retirement Market WatchReligare Submits Non-indicative Bid For ING`s Asia Assets Religare, which has a wealth management business joint venture in India with Australia-based Maquarie, has alone bid for the ING assets Insurance-business-review.comStates Shed Reinsurance and `Run Naked` Through Storm Risks Several states prone to natural disasters are measuring the odds on a mega-bet. Concerned observers say those calculations are based on 'Lady Luck' and 'rolling the dice.' Public insurance programs in some coastal states are flirting with the notion of saving millions of dollars every year by shrinking or ... Insurance HeadlinesClinton Seeks To Reassure On US-Colombia AgreementCBS News What do Chinese farmers have to do with the price of copper? Plenty A lot of base metals that China imports is being stockpiled in government warehouses. But not all of it. Hog producers and others are buying physical nickel and copper as an investment. The Globe and MailFla. developer buys The Park tower A Naples, Fla.-based developer has acquired The Park condo tower for an undisclosed amount in an all-cash deal. Biz JournalDire water warning A study based on satellite imagery, by the US National Aeronautical and Space Administration (Nasa), says that North Indias ground water table is dropping by nearly a foot every year. The estimation of total annual water extraction, at around 17.7 billion cubic metres (BCM) in four states (Punjab, Haryana, Rajasthan and Delhi) between 2002 and 2008, is 35 per cent higher than the governments assessment of 13.2 BCM. The study, published in the latest issue of Nature, the peer-reviewed scientific journal, reckons the total water depletion in the region in this period at a staggering 109 cubic km, twice the capacity of the countrys largest water reservoir. Since the withdrawal of water is far higher than the recharge, this amounts to mining underground reserves built over thousands of years. The implications for the agriculture-based economy of the region as well as for national food security are obvious. Business Standard1 2 3 4 5 |
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