- the Inflation Reduction Act, but permitting remains the big roadblock.
The Danish-based company has navigated the recent trials of supply-chain bottlenecks and cost inflation in transport and raw materials such as steel and resin. U.S. and European policy is seeking to boost renewables. Vestas is well placed to capitalize on those incentives, but its big hope is a deal to speed up planning permissions.
A top-ranking Democrat is calling on a federal regulator to take action against Equifax for its erroneous credit scores.
Maxine Waters, chairwoman of the House Financial Services Committee, asked the Consumer Financial Protection Bureau to stop Equifax from selling credit scores to lenders until the credit-reporting firm can prove it has the controls in place to ensure its scores are correct. In a letter to the CFPB, viewed by The Wall Street Journal, the congresswoman also called for “more robust enforcement action” against the company that goes beyond fines.
SoftBank Group Corp. said Wednesday that it planned to reduce its stake in Chinese e-commerce company Alibaba Group Holding Ltd. as part of a settlement of financial contracts that it expects to add $34 billion to pretax income in the current quarter.
The Japanese technology-investment company said its stake in Alibaba is expected to fall to 14.6% as a result of the moves. The stake was 23.7% as of June 30.
- best laid plans for its latest renovation, the economy has led them awry.
Chief Executive Officer Joey Levin confirmed on Tuesday that his internet holding company, while diversified, hasn’t exactly been sheltered from the broader economic storm that has ravaged so many of its internet peers.
The pandemic gave Lenovo, the grande dame of China’s information-technology sector, an unexpected lift. As that boost fades, the world’s largest personal-computer maker needs to find a new source for growth.
The Chinese PC maker on Wednesday reported that revenue for the quarter ending in June was flat compared with a year earlier, down from 7% growth in the first three months of 2022 and 18% in the last fiscal year.
Credit-score provider VantageScore Solutions LLC said it would stop factoring all medical debts that are in collections into the latest versions of its scores.
VantageScore’s decision goes beyond a recent move by Equifax Inc Experian PLC and TransUnion to remove
U.S. stock futures were little changed ahead of inflation figures that will be closely watched for clues about the Federal Reserve’s plans for interest rates.
S&P 500 futures were flat and futures on the Dow Jones Industrial Average were flat. Changes in futures don’t necessarily predict moves after the markets open.
Coinbase Global Inc. reported a surprisingly large second consecutive quarter of losses, driven by the crypto market’s spring meltdown.
Coinbase lost $1.1 billion, or $4.98 a share, in the second quarter, the company said Tuesday, compared with a profit of $1.6 billion, or $6.42 a share, a year ago. Revenue fell to $808 million from $2.2 billion a year ago.
Endo International PLC, the pharmaceutical manufacturer facing thousands of lawsuits alleging it fueled the opioid addiction crisis, said Tuesday that it is likely to file for bankruptcy imminently.
The company said that it is in negotiations with a group of senior lenders that it expects will result in an agreement for a chapter 11 filing. Endo also said that it is in discussions with opioid litigants as well as other creditors but didn’t say that it has reached a proposed deal with them.
TPG Inc. reported a loss in the second quarter as its investment portfolio declined, although the private-equity manager saw a significant increase in the fees it collected on its investments.
The firm said Tuesday it lost $10 million during the three months ended June 30, compared with an $85 million profit during the same period last year. TPG, which held an initial public offering in January, reported its results from last year as if it had been public at the time.
Public pension plans lost a median 7.9% in the year ended June 30, according to Wilshire Trust Universe Comparison Service data to be released Tuesday, their worst annual performance since 2009 and a fresh sign of the chronic
A $600 million debt deal that Goldman Sachs Group Inc. and JPMorgan Chase & Co. recently arranged for Avaya Holdings Corp. went bad within weeks.
The two banks sold new loans and bonds for Avaya, a cloud-communications company, in late June. Investors included Brigade Capital Management LP and Symphony Asset Management LLC, people familiar with the matter said.
Russian oil has stopped flowing through a pipeline that feeds countries in Central and Eastern Europe, dealing another blow to a region contending with the loss of vital energy supplies from Russia.
Transneft PJSC, the government-owned oil-pipeline operator, said Tuesday that crude exports
- given the cold shoulder by copper miner OZ Minerals Markets don’t think that is the end of the story: The world’s most valuable miner may well return with a higher offer. If it does, it will mark the giant’s return to megadeal making—and perhaps signal a turning point for deal activity in mining more broadly.
OZ is playing hard to get, and possibly for good reason. On Monday the company rejected a $5.8 billion takeover offer by BHP, saying it was too low and opportunistic. Prices of copper on the London Metal Exchange are trading around $7,834 per metric ton, down about 20% since the end of last year. Before BHP’s offer, that had punished OZ’s stock too.
- This column is part of the sixth annual Heard on the Street stock-picking contest.
Investors in 2022 have decided they hate moonshots. They should make an exception for a firm that has actually gone to the moon.
- inaccurate credit scores for millions of would-be borrowers over a three-week period. Now, many who applied for home or other loans at the time are scrambling to determine whether the mistake affected them.
The information that credit-reporting firms such as Equifax add into consumers’ credit reports includes the types of financial accounts consumers have, the ones they open and close, their payment history and more. This information results in a credit score, one of the key factors lenders refer to when making decisions on loan applications.
U.S. stock futures were little changed ahead of data on labor costs and productivity and a fresh set of corporate earnings reports.
S&P 500 futures were flat and futures on the Dow Jones Industrial Average strengthened 0.2%. The contracts don’t necessarily predict movements after the opening bell.
As Kewsong Lee’s five-year contract was drawing to a close, advisers to Carlyle Group CEO worked with representatives of the buyout firm to prepare an initial proposal for a new deal. Submitted this past spring, the contract proposal
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