International News

  Bloomberg Brazil has rejected requests from developers seeking more time to complete the country’s first large-scale solar farms, according to two people involved in the matter. The country’s energy regulator Aneel sent a statement to a group of solar developers that have committed to completing solar farms by 2017, denying their request for extensions of as long as two ...

  Bloomberg U.S. energy regulators fined trading firm Etracom LLC $2.4 million for engaging in a scheme to rig the California power market. Etracom, a trading company formed in 2008, violated anti-manipulation rules in May 2011 when traders artificially drove down power prices at a point on the grid in eastern central California to reap profits, the Federal Energy Regulatory ...

  Bloomberg Carmike Cinemas Inc. shareholders should vote against the proposed $1.1 billion takeover of the movie theater company by AMC Entertainment Holdings Inc., shareholder advisory firm Glass Lewis & Co. recommended in a note. Shareholders should vote against a proposal to approve the takeover as well as payouts to executives and authorization to adjourn a special meeting to give ...

  Sydney / Bloomberg Australia’s coalition government will provide A$49.2 million ($36 million) to support struggling steelmaker Arrium Ltd., Prime Minister Malcolm Turnbull said. The funds will be spent on new machinery at two mines in South Australia to help Arrium remove waste materials from its iron ore, Turnbull said in a statement on Sunday. The equipment will enable Arrium ...

  Bangkok / Tribune News Service The Commerce Ministry says it has found 15 companies in Phuket and two in Phang Nga in likely breach of the Foreign Business Act (FBA) for having a nominee structure in businesses reserved for Thais. In two cases, foreigners were allegedly using Thai identity cards illicitly. Sarote Suwattigul, deputy director-general of the Foreign Trade ...

  Tokyo / AFP Nissan says it is developing fuel-cell technology that can power cars using plant-based ethanol, a first for the auto industry, and hopes to launch the system in time for Tokyo’s 2020 Olympics. Japan’s number-two automaker said its experimental technology would let vehicles drive more than 600 kilometres (375 miles) on a single fill, similar to gasoline-powered ...

  Beijing / AFP China’s unbranded goods are often better than the branded originals they imitate, founder of e-commerce giant Alibaba Jack Ma said, posing an additional challenge to the battle against sales of counterfeits. “The problem is that the fake products today, they make better quality, better price than the real product, than the real names,” he said in a ...

  New York / AFP Hackers have diverted more than $50 million in digital currency from an experimental fund meant to demonstrate that such money is safe for use, according to the New York Times reported. The sum was stolen from a project called the Decentralized Autonomous Organization (DAO), which had collected the money in Ether, a form of currency ...

  New Delhi / AFP The popular governor of the Reserve Bank of India, Raghuram Rajan, will step down when his term ends in September to return to academia, he wrote in a letter to colleagues published on the central bank’s website on Saturday. Speculation has been rife in the Indian media about whether the former IMF chief economist intended to ...

  Beijing / Bloomberg Alibaba Group Holding Ltd.’s financial affiliate is planning to purchase a 20 percent stake in Thailand’s Ascend Money in a bid to become a key financial services player in Southeast Asia. Zhejiang Ant Small & Micro Financial Services Group, known as Ant Financial and controlled by Alibaba co-founder Jack Ma, also wants an option to increase ...