General Electric to scrap California power plant 20 years early
General Electric Co said on Friday it plans to demolish a large power plant it owns in California this year after only one-third of its useful life because the plant is no longer economically viable in a state where wind and solar supply a growing shar…
U.S. banks clear first hurdle of Federal Reserve’s annual stress test
The 18 largest banks operating in the United States took the first step toward doling out capital on dividends, share buybacks and other investments on Friday, after clearing the first stage of their yearly health checks with the U.S. Federal Reserve t…
Bang-up week on Wall Street ends with a whimper
Wall Street edged lower on Friday, as U.S. Vice President Mike Pence’s decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, while tensions between the United States and Iran undercut sent…
Oil climbs on Iran tensions, stocks edge back from seven-week highs
Oil prices added to recent gains on Friday on fears any U.S. military attack on Iran would disrupt flows of crude from the Middle East, while a gauge of global stock markets edged back from seven-week highs following a run-up spurred by optimism over m…
S&P 500 touches record high as Wall Street eyes trade talks
Wall Street was little changed on Friday, as U.S. Vice President Mike Pence’s decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, though tensions between the United States and Iran under…
Four U.S. states join lawsuit to stop T-Mobile-Sprint deal
Four more U.S. states joined an unusual effort by state attorneys general to stop T-Mobile US Inc’s acquisition of Sprint Corp, a New York official said at a court hearing on Friday.
Global money-laundering watchdog launches crackdown on cryptocurrencies
Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on Friday, the first worldwide regulatory attempt to constrain the rapidly growing sector.
Oil gains after Iran tensions, stocks at seven-week highs
Oil prices built on recent gains on Friday on fears any U.S. military attack on Iran would disrupt flows from the Middle East, while a gauge of global stock markets hovered near seven-week highs following a run spurred by optimism over monetary policy….
PG&E to float $31 billion restructuring plan: Bloomberg
Power producer PG&E Corp will propose a $31 billion bankruptcy restructuring plan that will include two funds worth a total of $34 billion to cover past and future wildfire claims, Bloomberg reported https://twitter.com/scottdeveau/status/1142117995680030720 on Friday.
Fed officials face weak inflation, but split over what it means
U.S. Federal Reserve officials were divided Friday over how seriously to treat a slide in inflation, with one top policymaker saying the Fed was “close” to its inflation target and three others warning the weak price increases posed major risks the Fed…
