Posts From King World News

Guyana warns Venezuela on maritime dispute

Guyana warned Monday it would “vigorously” resist any attempt by Venezuela to enforce a new claim over coastal waters where Exxon Mobil recently announced an important oil find. Caracas issued a decree May 27 laying claim to waters off the Essequibo, a disputed territory that borders Venezuela and encompasses more than half of Guyana. The Venezuelan action came less than a month after Exxon Mobil said it had made a

Sears reports smaller first-quarter loss but sales keep sliding

The company expects its plan to spin off 235 Sears and Kmart stores into a real estate investment trust to be approved by the Securities and Exchange Commission this week, paving the way for a rights offering to sell shares in the REIT to existing shareholders on Friday. Sears said some of the decline was expected as it shrinks operations.

South Africa names more bidders for 1,084 MW of green power

South Africa has named 13 more preferred bidders for the fourth round of a series of renewable energy projects that will add 1,084 megawatts (MW) of electricity to its ailing power grid, the energy minister said. The new bidders are in addition to 13 others announced in April as Africa’s most advanced economy aims to introduce green energy into its power mix – 95 percent of which is coal-based –