Wall Street up on energy shares after Japan quake

Stocks rose on Friday, led by gains in energy shares after Japan’s biggest earthquake on record hurt the country’s oil refining capacity, but trade was choppy as investors tried to weigh the quake’s economic impact. The 8.9 magnitude quake that struck the northeast coast of Japan, the world’s third largest economy, triggered... 

As oil muddies outlook, Fed policy less certain

Surging oil prices are deepening a split inside the Federal Reserve, blurring the likely direction of U.S. monetary policy and making next week’s policy meeting all the more contentious. The sharp rise in energy costs, precipitated by a wave of pro-democracy uprisings across the Arab world, could affect the economy in different ways, by retarding... 

Philadelphia University and MAG Establish New Composites Institute to Develop Textile-Based Composites for Industrial Applications

Philadelphia University and MAG are establishing the Philadelphia University MAG Composites Institute for research and development of new textile-based composites that could have wide application in industry, including the aerospace, automotive and energy sectors. The new research institute will be funded in part by $1.1 million from MAG, whose chairman... 

Market slips on bank worries, lackluster jobs data

Stocks fell on Friday after a court ruling in a key foreclosure case prompted investors to pull out of bank stocks, adding to weakness after a lackluster jobs report. Even with the decline, however, the S&P 500 and Dow recorded their sixth straight week of advances. The market has proved resilient despite expectations that stocks were due for a... 

Sunoco to Close Polypropylene Plant in Bayport, Texas

Sunoco Inc. announced that it will permanently close its polypropylene manufacturing facility located in Bayport, Texas, no later than April 30, 2009. The facility can produce approximately 400 million pounds of polypropylene each year. “The decision to close the facility was made after an extensive review which demonstrated that the plant is no longer... 

Verizon Makes Its Pennsylvania Fleet ‘Greener’ With 15 Hybrid Vehicles in Philadelphia

Verizon is rolling out 15 hybrid sedans to help conserve fuel and significantly reduce the emission of greenhouse gases in this city. The new vehicles are among the 100 hybrid sedans Verizon is adding to its motor vehicle fleet in seven states and Washington, D.C., replacing gasoline-powered sedans. These hybrid sedans are in addition to the 100 hybrids... 

PECO Begins Second Round of Bidding for Renewable Energy Credits

For the second time in 2008, PECO is inviting renewable energy producers to submit bids to sell alternative energy “credits” to help the company fulfill the requirements of Pennsylvania’s Alternative Energy Portfolio Standards (AEPS) legislation. The details of the request for proposal (RFP) will be discussed in a teleconference on Monday, November... 

Exelon Details the Value Creation Opportunities in an Exelon-NRG Combination

Exelon Corporation today filed with the Securities and Exchange Commission and posted to its Web site a presentation for investors with additional details on the value that would be created by its offer to acquire all of the outstanding common stock of NRG Energy, Inc. in an all-stock transaction. “The combination creates clear and compelling value... 

Suncor Energy completes planned maintenance activities at Sarnia refinery

Suncor Energy Products Inc. announced today that planned maintenance activities at the company’s Sarnia refinery are now complete. “All of the equipment involved has been returned to service,” said Marc Mageau, vice president of the Sarnia Refinery. “We’re proud to report the work was completed safely, on schedule and on... 

Kraft Highlights Alternative Energy Initiatives at Two New York Plants

With a vested interest in conducting business in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs, Kraft Foods has placed sustainability at center stage. Two of its New York cheese plants took leading roles today, as Kraft announced completion of waste-to-energy projects at manufacturing...