Bloomberg The top two US states for wind power installed their most turbines ever last year, helping push up nationwide capacity growth to a seven-year high as tax benefits sent developers rushing projects into service. Texas added almost 4 gigawatts and Iowa installed 1.7 gigawatts, expanding their lead in wind power capacity, according to a report from the American Wind …

Bloomberg Investors who assumed the quarterly deluge of corporate results would determine the direction of stocks in late January have obviously found themselves with much bigger concerns to cope with. Earnings season is fast being forgotten in a market where cascading fear about the human toll of coronavirus has come to dominate sentiment. The S&P 500 just dropped the most …

Bloomberg The pound ended a tumultuous month on a high note on the Brexit day. Sterling was on course for its biggest weekly gain since mid-December, a day after the Bank of England (BOE) kept interest rates unchanged, supporting the currency. Analysts expect it to climb more than 1% to $1.33 by the end of June, according to a Bloomberg …

Bloomberg WeWork plans to name Sandeep Mathrani as its new chief executive, according to a person familiar with the matter. Mathrani, who previously was chief executive of Brookfield Property Partners’ retail group, will replace Artie Minson and Sebastian Gunningham. The duo has served as co-CEOs of WeWork parent We Co since Adam Neumann stepped down in September following a failed …

Bloomberg Chinese policymakers prepared to shore up financial markets, which are bracing for a sell-off when trading re-starts on Monday. The People’s Bank of China (PBOC) and other regulators announced a slew of targeted measures over the weekend aimed at calming financial markets and helping companies, banks and individuals hurt by the viral pneumonia outbreak. The central bank will supply …

Bloomberg Malaysia can expect half of its banking assets to be Islamic by 2030 as the industry’s growth outpaces conventional banking, according to a lenders’ association. Loans that comply with the religion’s ban on interest is set to increase by 10% to 15% annually over the next five years, outpacing the 5% to 7% growth seen for non-Islamic loans, said …

Bloomberg State Bank of India (SBI) posted its biggest ever quarterly profit as it wrote back provisions on bad loans and recoveries improved. Net income rose to 55.8 billion rupees ($782 million) in the three months ended in December from 39.6 billion rupees a year earlier. That’s broadly in line with the 58.7 billion rupee average of analysts’ estimates compiled …

Bloomberg Bolivia’s central bank reiterated its commitment to the nation’s currency peg and said its $6.5 billion international reserve levels are adequate, in a statement rejecting comments made by a Fitch Ratings analyst to Bloomberg News earlier this week. The nation’s foreign currency reserves “are at levels that are solid for covering internal and external payments in foreign currency under …

Bloomberg The US central bank’s No. 2 official said it’s too early to determine whether the coronavirus outbreak in China will significantly affect the US economy, which remains in a “good place.” “It is a wild card,” said Federal Reserve Vice Chairman Richard Clarida in an interview on Bloomberg Television. “We’re looking into how it translates into the outlook for …

Bloomberg Bitcoin’s infrastructure is more centralized than ever before —raising alarms about the security and viability of what is championed as a decentralised network. Transactions on the Bitcoin network are processed by so-called miners — mostly companies operating vast arrays of computers. As competition increased, many smaller participants became unprofitable and dropped out, while the larger operations have entered into …