International News

  Bloomberg U.S. stocks plunged the most in 10 months, joining a selloff in global risk assets on speculation that the the U.K. decision to leave the European Union will hamper worldwide growth. Equities sank to session lows in afternoon trading, with the Dow Jones Industrial Average sliding more than 600 points. The S&P 500 Index extended losses after falling ...

  Bloomberg Mexico announced it would cut federal spending by 31.7 billion pesos ($167.9 billion), reducing the country’s international funding needs as emerging-market assets worldwide tumble following the U.K.’s decision to leave the European Union. A decision on whether to increase the country’s key interest rate will be made next week at a June 30 board meeting after analyzing the ...

  Bloomberg Britain’s decision to leave the Europe Union buffeted markets, spurred panic on global trading floors and prompted U.K. Prime Minister David Cameron to resign. But for Brazil’s meat industry, the Brexit vote sounded like opportunity knocking. As a net-importer of food, the U.K. will probably have to adopt more flexible rules and be more opened to imports from ...

  Bloomberg The cost to drill wells at Argentina’s Vaca Muerta, site of the world’s second-biggest shale reserves, has dropped 20 percent this year, putting Chevron Corp. and its partners closer to meeting spending goals. Drilling costs at the Loma Campana field in Vaca Muerta have declined to $11.2 million per well from $14 million in the last three months ...

  Panama City, Panama / AFP With its capacity boosted by nearly three times, Panama’s enlarged canal — set to be inaugurated on Sunday — is expected to stimulate trade between the United States and Asia, and steal business from the rival Suez canal. “A good deal of the commerce between Asia and the east coast of the United States can ...

  Bloomberg Colombia’s central bank raised its benchmark interest rate for a 10th consecutive month as consumer prices rose at the fastest pace since 2001 — while Finance Minister Mauricio Cardenas signaled that the tightening cycle was now over. In a majority decision, the seven-member board voted to raise the key rate a quarter-point to 7.5 percent, central bank Governor ...

  Bloomberg PG&E Corp.’s plan to shut California’s last nuclear power plant by 2025 would cost $15 billion if all its output is replaced with solar-generated electricity at current prices. Actual costs could be lower because the company expects to compensate for lower demand and replace only part of the production, energy policy analyst Rob Barnett said in an interview. ...

  Bloomberg U.S. drivers are burning gasoline at a record pace as they take advantage of the lowest prices at the pump in more than a decade this summer. Consumption has risen 3.9% from a year ago, while the average retail price for the motor fuel has tumbled 17%, according to data released by the Energy Information Administration and AAA. ...

  Bloomberg Ahmad Chatila, chief executive officer of bankrupt clean-energy giant SunEdison Inc., resigned on Weddnesday. SunEdison appointed John Dubel, the company’s chief restructuring officer since late April, to replace Chatila, according to a statement on Wednesday. Dubel joined SunEdison shortly after it filed for bankruptcy protection, listing $16.1 billion in liabilities. Chatila was the architect of a massive clean-power ...

Bloomberg Twilio Inc., the maker of mobile and web applications backed by Bessemer Venture Partners, raised $150 million in its initial public offering, pricing the shares above the marketed range. The San Francisco-based company priced 10 million Class A shares at $15 each, according to a statement on Wednesday, after offering them for $12 to $14 apiece. The shares will ...