Wind Powered Google|
Google (GOOG) announced Wednesday they will buy 48 megawatts of wind power from
the Grand River Dam Authority for its Mayes County, Okla., data center.
Financial terms were not disclosed but Google will purchase electricity from the
authority's share of the 300-megawatt Canadian Hills Wind project. "This
agreement marks the first time Google has contracted directly with a utility
provider to increase its renewable energy consumption," according to a statement
from the Authority. The Grand River Dam Authority, an Oklahoma state-owned
electric utility, said the Canadian Hills Wind Project is expected to begin
operations later this year. The 135-turbine Canadian Hills Wind project is being
built by Apex Wind Energy outside Oklahoma City and is the largest wind farm in
the state with enough power for 100,000 homes. Apex said the project is expected
to cost $470 million.
The Commerce Department announced Wednesday that sales of new single-family
homes in the U.S. fell in August to an annual pace of 373,000 from July's
revised level of 374,000. July originally was reported at 372,000 and was the
highest since April 2010. The median sales prices soared 11.2% during August to
$256,900, striking single biggest monthly increase ever recorded. The supply of
new homes on market remained steady at 4.5 months. Except in the South where the
housing market has generally been the strongest, sales rose in all regions.
Dean Foods (DF) were higher by 5% into late afternoon trading Wednesday
following a trading halt as the company said it's exploring the sale of its
Morningstar business. In a statement, Dean Foods has not yet identified a buyer
for Morningstar, but it "believes the business possesses an attractive portfolio
in a growing marketplace and a top-notch management team." Dean Foods only plans
to sell Morningstar if a transaction can maximize shareholder value "and helps
ensure the future success of the business," the company said. Shares of Dean
Foods have gained 47% in 2012 and have risen 84% in 2011.
For a second time, Federal regulators on Wednesday moved to lengthen a comment
period and delay adoption of a proposal seeking to ensure big bank
derivatives-trading institutions have enough capital to survive future major
credit crunches. Five federal agencies, including the Federal Reserve, are
allowing banks and others until November 26 to comment on a proposal seeking to
set up margin and capital requirements for so-called "swaps-dealers" or "major
swap participants" including major U.S. banks. Required by the post-crisis
Dodd-Frank Act, the agencies proposed the rule in April, 2011. In June, 2011 -
the agencies extended the amount of time interested groups had to comment on the
proposal until July 11, 2011, a deadline that was in place until the extension
announced Wednesday. The agencies said that the extension was put in place to
give interested groups more time to consider the proposal and how it relates to
a global bank derivatives capital requirement also under consideration.
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