TOKYO / Reuters Japan plans a wave of new gas-fired power stations as the country’s electricity retail market opens up from April 1, allowing new entrants to compete for a market of 85 million customers with annual sales of about $70 billion. In the biggest shakeup in the industry’s history in Japan, regional utilities are losing their monopoly rights for ...

Frankfurt / AFP German retail giant Metro announced it will spin off its businesses into two separately listed units, sending its shares sharply higher. “The management board of Metro is preparing the creation of two independent and sector-focused companies through a demerger of the group,” Metro said in a statement. Metro shares were the strongest performer on the mid-cap MDAX ...

AFP Somalia’s bread basket has become a dust bowl as the life-giving waters of the mighty Shabelle river run dry amid intense drought in the war-torn country. River-fed farmlands have become parched playgrounds for children who kick footballs beneath a cloudless sky, as one sign among many of the failed rains that the United Nations warns has put more than ...