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Byline: Paul Glader Charlie Munger, a champion of common-sense investing who forever altered the finance world as the top adviser and dry-witted sidekick to Warren Buffett, the most successful financier [...]

Byline: Paul Glader OMAHA, Neb. - On his first pilgrimage to the annual meeting of Berkshire Hathaway shareholders along with 42,000 others, entrepreneur John Li wanted to sample all things [...]

The steel industry is attempting to sell the home construction industry on the benefits of steel in terms of strength and insulation, but high prices remain prohibitive to many builders.

Byline: Paul Glader The clash of religion, politics and conquest in the History Channel's hit series 'Vikings' slowly maps out how the Nordic warriors gave up their gods and adopted [...]

It is a menace from Asia that over the past two decades has ravaged tens of thousands of trees in several states. But after being wiped out in New Jersey, […]

Byline: Paul Glader Four years ago, Evangelos Xydas decided to leave his job at a hotel to open a small specialty food company on an orchard on the Greek island [...]

General Electric Co. will pay $1.25 billion to buy Wellstream Holdings PLC, a maker of flexible pipelines used in deep-water oil and gas projects. Wellstream shareholders will receive $12.33 a share plus a special dividend.

A report by the American Wind Energy Association reveals that General Electric Co. installed 40% of new wind-turbine capacity in the U.S. in 2009, more than any other wind-turbine manufacturer. GE's global wind-turbine sales totaled about $6 billion in 2009, but the company is expected to face growing competition from Asian rivals in the U.S. market.

General Electric Co. reports a 49% second-quarter drop in net income to $2.68 billion from $5.26 billion a year earlier, and a 17% drop in revenue to $39.08 billion. GE's finance business, GE Capital, saw its profit drop 80% to $590 million. Article discusses GE's sales by division, orders volume, and share value.

Unable to sell or spin off its lighting-and-appliance, railcar-leasing, and consumer-finance units, General Electric Co. will invest to increase production in those divisions and develop new products. GE will hire 400 new workers to build water heaters at its appliance division in Louisville, Kentucky.

General Electric Co. announced it will invest $100 million on a research-and-development facility near Detroit, Michigan, creating about 1,200 jobs for scientists and researchers. The facility will primarily develop solutions related to information technology, clean energy, and transportation.

Siemens AG estimates it will receive about $21 billion globally in new orders as governments spend about $623 billion on infrastructure projects over the next three years. Of the $2.7 trillion destined to stimulate the global economy, Siemens expects to land about $208 billion. In its first quarter. Siemens' net income more than doubled to 962 billion euro, while sales increased 4.8% to 18.95 billion.

Bogged down by poor results at its financial unit, General Electric Co.'s net income fell 35% to $2.92 billion -43 cents a share- while revenue dropped 9% to $38.41 billion. GE Capital's revenue fell 23%, and profit dropped 58% to $1.12 billion. GE's shares rose 12 cents to close at $12.39 on the New York Stock Exchange.

Byline: PAUL GLADER General Electric Co. said its big finance arm won't generate as much profit this year as it predicted in December because of growing losses in its consumer, [...]

Financial success at General Electric Co.'s energy-infrastructure unit -expected to generate $5 billion in profit this year- will be crucial as the company prepares to present its 2009 outlook to investors. GE will rely on earnings from its industrial and media units to compensate for losses in its financial-services business, and maintain its annual dividend payout of $1.24.

In a move to reassure investors, General Electric Co. unveils plans to restructure its financial services unit, GE Capital, which will be reorganized into three segments focused on commercial lending, consumer finance, and corporate restructuring. GE Capital seeks to reduce its reliance on short-term funding and plans to bring down its long-term funding from $391 billion to $354 billion. GE Capital is expected to post a drop in earnings to $5 billion in 2009 from this year's $9 billion. GE's shares rose $2.11 to $17.61 in Tuesday trading.

In interview, General Electric Co.'s chief executive Jeffrey Immelt discusses the company's restructuring efforts, and planned cost-reduction strategies. GE's finance unit has been particularly affected by the recent international credit market crisis, and the company plans to redirect its focus from financial services to manufacturing. Immelt also discusses the possible effects of economic slowdown in China. On Friday, GE's shares dropped 5% to close at $17.83 on the New York Stock Exchange.

Entrepreneur Warren Buffett's Berkshire Hathaway Inc. will invest $3 billion, and possibly as much as $6 billion, in General Electric Co. in the form of preferred stocks from which Berkshire will receive $300 million in annual dividends. Berkshire also gains the option of buying $3 billion in GE common stock at $22.25 per share. Article discusses GE's stock value, relations with investors, access to capital, and planned realignment of operations.

General Electric Co. reduced its third-quarter earnings forecast to the range of 43 cents to 48 cents from 50 cents to 54 cents per share, and its full-year earnings forecast to $1.95 to $2.10 from $2.20 to $2.30 per share, an expected $2-billion drop in profit in 2008. The company also announces it will cut its borrowing plans, freeze dividend payments, and suspend its $15-billion stock-buyback program. Article discusses the conglomerate's stock value, and plans to reduce its GE Capital unit.

Australia's Rio Tinto Ltd. is in the final stages of negotiating an agreement to buy Canada's aluminum company Alcan Inc. Alcan is currently staving off a hostile takeover bid from US-based Alcoa Inc. The agreement is expected to be an all-cash deal valued at approximately $37 bil, or nearly $100 per share. The deal would top Alcoa's bid of $27.94 bil.

US aluminum firm Alcoa Inc. has extended its hostile bid for Canada's Alcan Inc. to August 10, 2007 to give shareholders and regulators more time to examine its $27.93 offer. Second quarter net income for Alcoa dropped 3.9%, prompting analysts to speculate that cost pressures will create challenges for Alcoa's bid.

Byline: PAUL GLADER POINT LISAS, TRINIDAD -- Les Hart pointed along the coastline of this sunny Caribbean shore the way a tourist might point out a dolphin. But he was [...]

Byline: J. LYNN LUNSFORD AND PAUL GLADER When Boeing Co. engineers first set about developing their new 787 Dreamliner, their biggest concern was whether they would be able to pull [...]

Rival bids are anticipated for Canadian aluminum firm Alcan Inc. after U.S.-based Alcoa Inc. declined to increase its $27.62 bil hostile takeover bid. Investors expect that rival mining firms such as Rio Tinto PLC and BHP Billiton Ltd. might make offers.

Aluminum company Alcoa Inc. announced plans to invest $7 bil in Canadian-based plants in an effort to make its bid for Canada's Alcan Inc. more attractive. Alcoa has bid $27.49 bil in cash and stocks for Alcan.

American aluminum firm Alcoa Inc. has bid $26.9 bil for Canadian company Alcan Inc., which has already rejected previous offers from Alcoa. If Alcoa is successful, the purchase would create a global giant valued at $54 bil which would produce approximately 20% of the world's total aluminum.

Sweden's SSAB Svenskt Stal AB will purchase American steelmaker Ipsco Inc. for $7.66 bil, at $160 a share, prompting speculation that high European prices, lower stock value, and a strong euro have made US steel companies vulnerable.

First-quarter net profit for U.S. Steel Corp. rose by 6.6%, helped along by stronger demand, increased imports, and higher prices in the European market and offsetting slow growth in the American market.

Essar Global Ltd. will acquire Minnesota Steel Industries LLC and Canadian steelmaker Algoma Steel Inc., in deals totaling $1.65 bil and $1.6 bil respectively. The acquisitions will bolster the Indian steel company's access to iron ore.

Mittal Steel Co. announced plans to expand into the petroleum tubular goods market, focusing on oil rig components and high value pipes, and will finish a merger with Arcelor SA later this year. Other steel firms have also announced expansion and acquisition plans.

Nucor Corp. of the United States posted a soaring 20 percent increase in fourth quarter earnings to $408.2 million from $341 million last year. Revenues increased by eight percent to $3.47 billion from $3.21 billion. The glut in the United States steel market is easing and prices for steel are increasing.

Mittal Steel Co. of the Netherlands has offered to acquire Siderurgica Lazaro Cardenas-Las Truchas of Mexico in a $900 million cash deal. The deal would make the new synergy the largest steel industrial in Mexico. The move highlights the Dutch steel giants acquisition strategy to dominate each international market it grows as well as purchasing local natural resources.

Mittal Steel Company N.V. has offered $3.2 billion to buy out Arcelor Brazil's minority shareholders. Some shareholders have said that they will contest the offer, however. Earlier this year, market regulator Commissao de Valores Mobilarios ruled that Mittal's bid for Arcelor required that it buy out the 34% of Alcelor Brazil not owned by the parent company.

In an effort to compete against potential rivals, steel companies in Asia are seeking to form parterships. Such alliances include joint ventures and technology-licensing agreements, but do not include mergers.

Market conditions leading to lower aluminum prices have caused a loss of earnings for Alcoa Inc. The slowing United States housing market and problems in the automobile industry are having an impact on Alcoa.

Steel manufacturers from around the world are urging China, which manufactures and uses most of the world's steel, to cut production, fearing an impending oversupply.

Rusal Ltd. of Russia is to purchase Sual Group also of Russia and the aluminum assets of Glencore International AG of Switzerland. The new aluminum industrial would be valued at approximately $30 billion. The new company would rival Alcoa Inc. of the United States as the largest producer of aluminum worldwide with estimated production of 4.4 million tons per year.

Ipsco Steel Inc. of Canada is to purchase NS Group Inc. of the United States for $1.46 billion. The new company will focus on growth in the natural gas and petroleum industries. The share purchase price for the American steel tube maker was $66 per share.

New aluminum companies are challenging the market dominance of Alcan Inc. and Alcoa Inc. These companies are in developing economies such as Russia, India, Africa, and the Middle East.

Arcelor S.A. of France is valiantly fending off a hostile merger bid by Mittal Steel Co. The executive of the French steelmaker is meeting on Sunday to decide whether to accept the bid or to follow the strategy of Chief Executive Guy Dolle, to merge with OAO Severstal of Russia.

Arcelor S.A. of France is in acquisition negotiations with Severstal of Russia to merge the steel operations. Mittal Steel Co. of the Netherlands is organizing a resistance amongst Arcelor S.A. shareholders.

Demand in the global steel industry is up, driven by commercial builders and the aerospace industry. Steel price is also up with the possibility of increased costs of raw-materials for manufacturers. Buyers may be stockpiling their supplies of steel.