MEXICO CITY — Mexico’s energy regulator fined a unit of Spain’s Iberdrola 9.15 billion pesos ($466.4 million), arguing they violated a so-called self-supply power generation permit by selling electricity to their partners, according to a regulatory filing. Read More
Robinhood Markets Inc has agreed in principle to settle a proposed class action filed by customers in the United States who claimed the investment app’s outages in March 2020 shut them out of trading on pandemic-related volatility. Read More
NEW YORK — Global markets enjoyed a broad-based rally on Friday, while the yield on benchmark U.S. Treasuries fell after data showed that U.S. consumer spending rose in April and the uptick in inflation slowed, two signs the world’s largest economy could be on track to grow this quarter. Read More
NEW YORK — World shares rose on Thursday and the U.S. dollar edged lower, a day after minutes from the U.S. Federal Reserve’s May meeting indicated the central bank would remain flexible and might pause rate hikes later in the year. Read More
WASHINGTON — The United States will not block China from growing its economy, but wants it to adhere to international rules, Secretary of State Antony Blinken said on Thursday in a long-awaited speech on U.S. strategy to address China’s rise as a great power. Read More
Broadcom Inc said on Thursday it will acquire cloud computing company VMware Inc in a $61 billion cash-and stock deal, the chipmaker’s biggest and boldest bid to diversify its business into enterprise software. Read More
Creating an official digital version of the U.S. dollar could help ensure financial system stability as crypo-assets and digital currencies developed by other countries become increasingly popular, Federal Reserve Vice Chair Lael Brainard said on Wednesday. Read More
WASHINGTON — The U.S. budget deficit will shrink dramatically to $1.036 trillion for fiscal 2022 from $2.775 trillion last year as a strong recovery prompts a surge in revenues and lower outlays, but slowing growth will start to reverse the trend, the Congressional Budget Office said on Wednesday. Read More
NEW YORK — Global shares rose on Wednesday after notes from the U.S. Federal Reserve’s early May meeting showed a strong likelihood that the world’s most powerful central bank will approve two more half-percentage-point rate hikes in coming months. Wall Street ended higher as investors were heartened by the fact that policymakers at the Fed […]
WASHINGTON — “Significant issues remain” in reaching a deal with China over a long-running dispute around auditing compliance of China-based companies listed on U.S. stock exchanges, a U.S. Securities and Exchange Commission (SEC) official said on Tuesday. Read More