General Motors Co. has reported profits for the second successive quarter, and is widely expected to be on the brink of a landmark IPO which could raise as much as $16 billion to begin the process of releasing it from government ownership.

GM reported second quarter profits of $1.3 billion today, on revenues of $33.2 billion, bringing its half-yearly profits to a total of $2.2 billion on revenues of $64.7 billion. GM reported a first-quarter profit $1.07 billion in May, compared with a $5.98 billion loss a year earlier.

Vedanta Resources is in talks to purchase assets or take a substantial stake in the UK oil and gas exploration company Cairn Energy.

According to a report by Bloomberg, the talks are at an advanced stage, with an announcement possible later this month. The companies are said to be discussing a range of options, including an equity stake, asset purchases or a complete takeover of Cairn.

Germany's Siemens is to build wind turbines to supply as much as 600 megawatts of energy for the Canadian province of Ontario under an agreement reached with Samsung C&T, it has been announced.

As part of the deal, Siemens will set up Ontario's first turbine blade factory. The German company said that the agreement with South Korea’s Samsung and its partner, Pattern Energy, will create 300 ‘green collar’ jobs and an additional 600 construction and indirect service jobs.

ArcelorMittal South Africa has offered to pay R800 million for Imperial Crown Trading (ICT), which holds rights to a 21.4 per cent prospecting stake in Kumba Iron Ore's Sishen Mine.

ArcelorMittal used to own the ICT stake, but lost it last April when it failed to convert it in line with new legislation.

Anglo American subsidiary Kumba owns the remaining mining rights to the Sishen project, which supplies ore to ArcelorMittal at a preferential rate, following an agreement made in 2001.

The US Department of Energy has finalized a $43 million loan guarantee for a company's flywheel energy storage plant, which is expected to enable greater use of solar and wind power.

Beacon Power Corp., based in Tyngsboro, Massachusetts, is building the 20-megawatt plant in Stephentown, New York, about 20 miles east of Albany.

Russian state-owned nanotechnology corporation Rusnano is in advanced talks to take over the UK display screen maker Plastic Logic—a deal that would assist Russia in bringing Western know-how to its fledgling tech industry.

According to the Financial Times, Rusnano is considering the purchase of a significant stake in Plastic Logic—on the condition it relocates the next phase of its development to Russia.

Vermont’s power transmission company, VELCO, is preparing for another phase of development as it migrates to the smart grid. CEO Chris Dutton and VP external affairs Kerrick Johnson talk to Gay Sutton about the challenges of becoming a telecommunications company.

In April this year, longstanding energy expert Chris Dutton was called in from retirement to take over as president and CEO of Vermont Electric Power Company, Inc. (VELCO) to see it through one of the most challenging periods of growth in its 60-year history.

Turner Construction is on course to deliver a splendid new courthouse for Florida’s Duval County. Project executive Mark Alles talks to Gay Sutton about the unique features of good courthouse construction.

Competing with the big boys in the oil patch is a healthy challenge for this family company known for its customer service, David Hendricks learns.