NEWS & Events
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US energy: solar initiatives threatened by White House dissonance
Even as the disaster in the Gulf of Mexico continues to threaten Obama\'s green initiatives, the US president now faces a further challenge after it emerged that government mortgage agencies have moved to stop his $150m solar stimulus program. Having made it to the White House partly on the back of promises to revolutionize US energy, Obama now faces a dilemma in ushering in new legislation.

The Obama administration hopes to promote the notion that the fight against climate change starts at home through the Property Assessed Clean Energy (PACE) program. As part of this initiative, the president is allocating $150m in loans for local governments which they can then lend to homeowners to cover the upfront costs of energy-efficient installations like solar. The loans can then be paid off gradually through property tax bills. However, Fannie Mae and Freddie Mac, the federally controlled agencies that guarantee more than 50% of America\'s residential mortgages, are concerned that taxpayers will lose out in the long run if people start defaulting on PACE mortgages. Both have issued letters to mortgage sellers stating that they will not accept loans for homes using the program.

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Acacia Subsidiary Acquires Patents for Energy Trading Technology from a Major Energy Company
Acacia Research Corporation /quotes/comstock/15*!actg/quotes/nls/actg (ACTG 14.54, -0.04, -0.27%) announced today that a subsidiary has acquired patents for energy trading technology from a major energy company.

\"As Acacia\'s licensing success grows, an increasing number of major companies are selecting us as their partner for the licensing of their patented technologies,\" commented Paul Ryan, Acacia Chairman and CEO. \"Acacia is rapidly becoming the leader in technology licensing and we continue to grow our base of future revenues by adding new patent portfolios,\" concluded Mr. Ryan.

This patented technology generally relates to the trading of electric energy between participants, such as utility companies.

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SAP extends Sybase offer, awaits EU approval
SAP said Friday that it has extended its US$5.8 billion bid for Sybase while it awaits approval under European merger regulations.

The offer is now scheduled to expire on July 16. It had been set to do so on Thursday, July 1.

SAP had officially notified the European Commission of the proposed deal on June 16. An initial review period of 25 working days would expire on July 22, unless the European Union stops it sooner, SAP said.

No other changes have been made to SAP\'s offer for Sybase, according to a statement.

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