April, 2017

• 29 April

  Wind power gets a leg-up in biggest US electricity market

  

    Bloomberg Wind may have just gotten a boost in the biggest US electricity market. New rules requiring power producers to ensure supplies are available all year round are giving some an incentive to use more wind. The first test will come at next month’s auction by PJM Interconnection LLC — the grid operator covering the region from Chicago to ...

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• 29 April

  China’s Didi raises over $5.5bn in record tech funding

  

    Bloomberg Ride-hailing giant Didi Chuxing raised more than $5.5 billion from investors, scoring the largest round of funding ever for a technology company to bankroll an expansion beyond China and into driver-less technology. Didi, which drove Uber Technologies Inc. out of China last year, is already one of the country’s best-funded private companies: its backers range from powerful state ...

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• 29 April

  Nintendo jumps on optimism that game sales will pick up

  

    Bloomberg Nintendo Co.’s shares jumped as much as 2.9 percent in Tokyo, reversing losses, as investors bet that the company’s lower-than-anticipated operating profit forecast will be raised when more people buy games for the new Switch hybrid console. Operating profit for the fiscal year through March 2018 will be $584 million, the Kyoto-based company said, which was short of ...

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• 29 April

  Trump wins easier path to undo ‘clean power plan’

  

    Bloomberg President Donald Trump won a court ruling making it easier for him to rescind the Clean Power Plan, his predecessor’s program for weaning American power producers off of coal and other fossil fuels. The US Court of Appeals in Washington put a 26-state lawsuit challenging the plan on hold for 60 days without deciding whether the initiative is ...

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• 29 April

  Spain shows renewed momentum in first quarter

  

    Bloomberg The Spanish economy showed signs of renewed momentum in the first quarter with growth accelerating faster than expected. Output grew 0.8 percent in the three months through March, the National Statistics Office said in a preliminary report. That compares with 0.7 percent in the fourth quarter and beats the median estimate in a Bloomberg survey of economists predicting ...

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• 29 April

  IBM pay plan narrowly passes as 46% investors oppose move

    Bloomberg IBM’s compensation plan for top executives drew record shareholder opposition after the board boosted Chief Executive Officer Ginni Rometty’s pay package over 60 percent last year. About 46 percent of the votes cast at the April 25 annual meeting in Tampa, Florida, went against the board’s pay plan for top bosses, according to a regulatory filing. That’s IBM’s ...

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• 29 April

  Anthem loses appeal over takeover of Cigna Corp

  

    Bloomberg Anthem Inc. failed to overturn a court ruling that blocked its planned takeover of rival Cigna Corp., capping a nearly two-year battle to complete a combination of two of the biggest health insurers in the US. The federal appeals panel in Washington upheld a lower court ruling by a 2-1 vote. The court rejected Anthem’s key argument, that ...

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• 29 April

  Novo Nordisk settles US probe of kickbacks, disguised salespeople

  

    Bloomberg Novo Nordisk A/S has agreed to settle a US probe of its marketing of diabetes drugs that allegedly included disguising salespeople as medical educators and paying kickbacks to persuade doctors to prescribe its medicines. The allegations were disclosed when a whistle-blower lawsuit was unsealed by a judge. The US Justice Department investigation, which began in 2011, focused on ...

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• 29 April

  Lehman suit seeks return of $2bn in ‘Phantom’ Citi fees

  

    Bloomberg Almost a decade after the global financial crisis, the fate of another $2 billion from the wreckage of Lehman Brothers Holdings Inc. is about to be determined. The failed New York investment bank is seeking to recoup the cash from one of its old derivatives trading partners, Citigroup Inc. In a trial that started this week in Manhattan ...

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• 29 April

  Apple halts license payments to Qualcomm in ‘all-out war’

  

    Bloomberg Apple Inc. cut off billions of dollars in payments to Qualcomm Inc., turning a contract dispute into what one analyst called an “all-out war” that forced the chip supplier to slash forecasts given only days ago. The world’s largest publicly-traded technology company and one of the main suppliers of components to the iPhone, its most important product, have ...

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