LONDON - The euro zone is more stable than a year ago but economic conditions remain challenging and governments must push on with reforms and banking union plans, European Central Bank President Mario Draghi said on Thursday.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
Veolia says completes $1.9 billion U.S. unit sale
PARIS (Reuters) - Veolia Environnement (VIE.PA) said it completed the sale of its U.S. solid waste business to ADS Waste Holdings for $1.9 billion as the French waste and water group seeks to cut debt.
The deal, which won U.S. regulatory approval last week on condition of certain asset disposals, has enabled Veolia to reduce net debt by about $1.84 billion, it said on Wednesday.
The group has pledged to divest 5 billion euros ($6.4 billion) in assets by the end of next year.
"Veolia will continue to grow its hazardous waste and industrial services businesses in North America," Veolia said.
ADS Waste Holdings is owned by infrastructure fund Highstar Capital. ($1 = 0.7811 euros)
(Reporting by James Regan; Editing by Blaise Robinson)
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