EU clears SABIC's buy of GE Plastics

(Reuters) - GE Plastics, headquartered in Pittsfield, Massachusetts,
employs 10,300 people in 60 countries and makes resins used in
products ranging from health care equipment to packaging for
consumer goods.




It has major factories in Indiana, New York, West Virginia
and Alabama. In 2006, the division's profit fell 22 percent to
$674 million on slightly higher revenue of $6.65 billion.


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Liberty considers Virgin Media bid - FT

(Reuters) - Virgin Media had asked suitors to submit expressions of
interest by the first week of August to kick off an auction of
the company, people familiar with the situation told Reuters
earlier this week.




About 10 suitors have expressed an interest, sources told
Reuters, since private equity firm Carlyle Group [CYC.UL] made
an initial offer earlier this month.


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UPDATE 1-Fed's Lacker-early education key for econ growth

(Reuters) - "My position is that if government is going to invest in
education at all, it should invest in enhancing early childhood
development," Lacker told a conference on early childhood
development in Richmond, Virginia. "For me, this is an economic
growth issue."




Lacker did not comment on the current economic outlook or
monetary policy in his remarks nor in a question and answer
session later at the conference.


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UPDATE 1-Equitable Resources 2nd-qtr earnings rise

(Reuters) - Income for the second quarter was $107.3 million, or 87
cents a diluted share, compared with $43.9 million, or 36 cents
a share in the same quarter a year earlier.




Pittsburgh-based Equitable recorded a $119.4 million
pre-tax gain for the sale of 81 billion cubic feet of gas into
a partnership with Range Resources under which the two
companies will jointly develop the Nora field in southwestern
Virginia.


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UPDATE 2-Norfolk So. profit beats Wall Street view, stock up

(Reuters) - The railroad's stock rose more than 1 percent after the
announcement.




The Norfolk, Virginia-based company said second-quarter net
income rose to $394 million or 98 cents a share, from $375
million, or 89 cents a share, a year earlier.


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BSkyB, Virgin Media case not in court until 2008

(Reuters) - Virgin Media, which was created earlier this year after the
merger of NTL, Telewest and Virgin's mobile phone division, said
on July 2 it had received a bid approach from an unnamed group.




On Monday, Virgin Media asked suitors to submit expressions
of interest by the first week of August to kick off an auction
of the company, people familiar with the situation said.


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US certifies Virgin America Airlines for service

(Reuters) - Virgin America won regulatory approval of its business plan
in May after agreeing to restructure its financing and agreeing
to change its executive leadership to satisfy a U.S. law that
limits overseas influence in domestic airlines.




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UPDATE 1-Dominion extends sale period for its gas utilities

(Reuters) - The companies will attempt to separate the two utilities,
which are now operationally joined, in order to close the sales
at different times, said a Dominion spokesman. Prior to this
agreement, either company could have unilaterally walked away
from the deal after June 30.




The sale of Dominion's Pennsylvania and West Virginia
natural gas utilities to Equitable Resources faces regulatory
hurdles.


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UPDATE 2-Virgin Media says receives bid approach

(Reuters) - LONDON, July 2 - British cable operator Virgin Media has received a bid approach from an unnamed group but has not engaged in negotiations, it said on Monday.



The group said it had already started a review of its strategic options, including a sale of the group, and this proposal would be considered as part of that process.


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UPDATE 2-Virgin Media seeks buyer, Carlyle bids -sources

(Reuters) - LONDON, July 1 - British cable operator Virgin
Media has appointed Goldman Sachs to seek a possible
buyer after it received approaches from various private equity
firms, people familiar with the situation said on Sunday.




Carlyle Group [CYL.UL], for one, offered in recent weeks to
buy the company, whose leading shareholder is the flamboyant
entrepreneur Richard Branson, the sources said, but they declined
to disclose the price put forward.


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CORRECTED - UPDATE 1-AES posts quarterly loss due to Venezuela sale

(Reuters) - AES posted a loss of $455 million, or 67 cents per share,
compared with a year-earlier profit of $348 million, or $52
cents per share, which was restated because of problems with
the company's reporting controls.




Excluding special charges, earnings from continued
operations were 24 cents per share, which included a charge of
3 cents for an adverse court ruling in Kazakhstan, the
Arlington, Virginia-based company said.


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