Europe

Spain’s biggest power utility, Iberdrola, is set to acquire Brazil’s Elektro for €2.4 billion in a move designed to expand its presence in growing markets.

The purchase of Elektro, a distribution company which serves 2.2 million clients in Sao Paulo state, will turn Iberdrola into one of the leading operators in Brazil’s electricity sector. It will also complement the company’s existing presence in north-eastern Brazil.

The global market for coatings is forecast to reach almost $100 billion by 2015, according to research by Global Industry Analysts, Inc. (GIA).

The new GIA report, Coatings: A Global Strategic Business Report, predicts that the market will expand to $98.69 billion in the next five years, led by rapid industrialization, economic activity and vibrant demand from automotive and construction sectors in developing countries.

Meggitt, the UK engineering group, has announced it is to buy US-based Pacific Scientific Aerospace (PSA) in a deal worth $685 million (£428 million).

Dorset-based Meggitt, which makes engine-monitoring systems for Airbus and Boeing planes, said the acquisition would add fire and smoke suppression to its existing product portfolio, creating an integrated fire and smoke detection and suppression capability increasingly being demanded by its customers.

The UK and Cuba have formed a joint venture to build biomass power plants adjacent to sugar mills, it has been announced.

The agreement marks one of the largest renewable energy partnerships between the two nations.

Havana Energy, a UK group chaired by former UK energy minister Brian Wilson, will form a joint venture with Zerus, a state-owned company within Cuba’s Ministry of Sugar, to build up to five power plants fuelled by bagasse, the fibre that remains after sugar cane processing.

Online retail giant Amazon is to create 950 new jobs across two sites in Scotland, it has been announced.

The majority of the posts—750—will be created at a newly-built plant distribution centre in Dunfermline, Fife, with another 200 jobs being added at the firm's warehouse in Gourock, Inverclyde. At times of peak demand, up to 1,500 temporary jobs could also be created at the warehouse.

Businesses can protect their reputation and boost their chances of survival by tightening up the supply chain, as John Kinge, head of Risk at Exor Management Services (EMS), explains.

Neglecting to ensure that electronic equipment is thoroughly tested before purchase can cost businesses time and money—not to mention the disastrous consequences of an unforeseen failure. Daryl Cornelius, director Enterprise EMEA, Spirent Communications, asks if your request for pricing is fit for purpose.

Giles Wake from ACT Conferencing looks at how businesses can take advantage of video messaging and conference calls to help achieve the right work-life balance.

We hear a lot about work-life balance, but how many of us actually get close to achieving it? Clearly, people will have different points of equilibrium; however, work-life balance put simply is having enough time for work and enough time to do what we want or need to do away from the office.

Simon Kent, head of operations at Harrogate International Centre in the UK, considers sustainability in the events industry.

Bord Gais Energy is to invest €2 million in OpenHydro, an Irish tidal renewable energy firm, in a joint venture to develop a large-scale tidal farm off the coast of Ireland.

Bord Gais, a gas supply company, will start with an investment of €1 million and provide another €1 million on achievement of certain development milestones.