News

Bloomberg New York regulators declined to renew an air permit for a controversial 680-megawatt natural gas-fired power plant in New York state, effectively shutting it down just before it was poised to go into service. The Department of Environmental Conservation denied the renewal application. The agency said the owner Competitive Power Ventures Inc. did not have a Title V Clean ...

Bloomberg A $42 billion merger to create what would become the world’s largest gas producer is facing an unexpected hurdle from the US antitrust regulator that could derail the deal. The Federal Trade Commission indicated it wants Germany’s Linde AG and Praxair Inc. to sell more assets before it approves their deal, Linde said in a statement to the markets. ...

Bloomberg The Brexit negotiations are more likely to end in failure than in success, UK International Trade Secretary Liam Fox said, adding to a growing sense that Britain is heading for a messy divorce from the European Union. There’s a 60 percent likelihood of a no-deal outcome, Fox told the Sunday Times in an interview. He blamed the European Commission ...

Bloomberg Canada’s foreign affairs minister Chrystia Freeland said she’s ready to move forward quickly once the US and Mexico reach an agreement on automobiles, and downplayed any notion that her country has been shut out of North American Free Trade Agreement (Nafta) talks. “I and Canada are very, very keen to get it done as quickly as possible,” Freeland told ...

Bloomberg Comcast Corp. doesn’t have to raise its offer for Sky Plc, at least not yet. A ruling from UK takeover authorities kept a floor price of 14 pounds per share for Sky, below the US cable giant’s overall $34 billion bid. That means Comcast, whose offer for the UK pay-TV company is currently the highest, doesn’t have to increase ...

Bloomberg It’s no secret: US businesses are dealing with rising costs, from labor to raw materials to shipping expenses. But many are already starting to see the light at the end of the tunnel as the economy works its way through what may prove to be temporary inflationary pressures. Take Clorox Co., for example. The Oakland, California-based consumer-products maker’s chief ...

Bloomberg Tata Group may have to pay around $1.3 billion in dues to the Indian government to rescue the proposed sale of its mobile-phone business to Bharti Airtel Ltd., people familiar with the matter said. The department of telecommunications is demanding that Tata Teleservices Ltd. clear any obligations to the government before it approves the deal that was struck in ...

Bloomberg A computer virus halted several Taiwan Semiconductor Manufacturing Co. factories, dealing the company one of its most severe disruptions as it ramps up chipmaking for Apple Inc.’s next iPhones. The sole maker of the iPhone’s main processor said a number of its fabrication tools had been infected, and while it had contained the problem and resumed some production, several ...

Bloomberg Back in April, giant Chinese developer Country Garden Holdings Co. ordered its thousands of staff to move faster in getting projects to market. The human and financial cost of the emphasis on speed is now coming into focus, after deadly accidents at its building sites caused the stock to crash. Country Garden shares plunged 17 percent, lopping off $6 ...

Bloomberg A central figure in a multi-billion dollar corruption scandal at a Malaysian state fund says a decision by Indonesia to hand over a $250 million yacht to Malaysia violates US and Indonesia laws. Low Taek Jho, described by US investigators as central to the 1Malaysia Development Bhd scandal, said in a statement Malaysia had decided to “illegitimately” acquire the ...