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LAGOS (Reuters) – General Electric Co (GE.N) has pulled out of a long-term concession deal with the Nigerian government to maintain and operate narrow-gauge rail lines in the West African country, a procurement process adviser told Reuters on Wednesday. The Nigerian railway concession project was worth around $2 billion for two lines connecting northern cities to others in the south men’s sterling silver cufflinks uk sale. The government had been due to enter into negotiations last year with GE over a railway project, although Nigeria’s upper house of parliament had said it would probe the railway concession over possible violations by Nigerian officials..

It was not clear why GE pulled out of the concession. The company was not immediately available for comment. A consortium led by GE had submitted the only bid for the project in partnership with Transnet CGETR.UL of South Africa, Dutch-based APM Terminals and China’s Sinohydro Consortium men’s sterling silver cufflinks uk sale. Fola Fagbule, senior vice president and head of advisory at Africa Finance Corporation (AFC), which ran the procurement process after being appointed lead adviser by the government, said Transnet was in discussion to replace GE..

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc deepened its commitment to the U.S. financial industry, announcing a $4.02 billion stake in JPMorgan Chase & Co and new investments in PNC Financial Services Group Inc and Travelers Companies Inc, plus a stake in Oracle Corp. The investments were disclosed in a Wednesday regulatory filing detailing Berkshire’s U.S.-listed stocks as of Sept. 30, following a quarter when the Omaha, Nebraska-based conglomerate spent $17.7 billion on equities men’s sterling silver cufflinks uk sale.

According to the filing, Berkshire owned $829 million of PNC stock, $460 million of the insurer Travelers, and $2.13 billion of Oracle, the database software company. It also added to its sizable stakes in two earlier Buffett investments, Bank of America Corp and Goldman Sachs Group Inc. “While nervous investors fear the end of the economic recovery, Mr. Buffett is buying economically sensitive bank stocks,” said Bill Smead, who runs Smead Capital Management Inc in Seattle and owns Berkshire stock men’s sterling silver cufflinks uk sale. “It makes owners like us not mind sitting through a correction with them.”..

Though the filing did not say which individual purchases Buffett or his investment managers Todd Combs and Ted Weschler were responsible for, investors watch Berkshire’s quarterly stock listings for signs about where the trio sees value. Shares of JPMorgan, PNC and Travelers each rose at least 1 percent in after-hours trading following Berkshire’s disclosure of its new stakes, while Oracle shares rose 2.4 percent. JPMorgan and Travelers declined to comment. PNC, Oracle and Buffett’s assistant did not immediately respond to requests for comment men’s sterling silver cufflinks uk sale.