Business

NextEra Energy CEO rules out hostile M&A after offer to Duke Energy

NextEra Energy Inc NEE.N Chief Executive James Robo said on Wednesday that the largest U.S. power utility would not embark on a hostile takeover, a day after reports surfaced it had made an approach to Duke Energy Corp DUK.N in what would be the sector’s biggest-ever acquisition. Duke Energy, which has a market capitalization of […]

Business

Equities edge higher, dollar gains on last day of choppy quarter

Global equity markets rose and safe-haven assets including the dollar were mixed on Wednesday as investors weighed a rising number of COVID-19 cases and a chaotic U.S. presidential debate against better-than-expected U.S. private jobs data on the last day of a turbulent quarter. Republican President Donald Trump and Democratic rival Joe Biden battled over Trump’s […]

Business

FCC commissioner calls for new scrutiny of undersea data cables

A member of the U.S. Federal Communications Commission on Wednesday called for new scrutiny of undersea cables that transmit nearly all the world’s internet data traffic. “We must take a closer look at cables with landing locations in adversary countries,” FCC Commissioner Geoffrey Starks said Wednesday at a commission meeting. “This includes the four existing […]

Business

American Airlines CEO leaves door open to delaying Oct 1 furloughs

American Airlines Chief Executive Doug Parker said it is possible to postpone thousands of furloughs set for Oct. 1 if there is a clear commitment from Washington on an aid extension on Wednesday. Speaking on CNN, Parker also said he believes that one more six-month extension of $25 billion in federal payroll support would be […]

Business

Global banks ramp up preparations for U.S. election night chaos, sources say

Global banks are preparing for the possibility that there will be no clear victor on the night of the U.S. presidential election, a scenario that could spark days or weeks of chaos in global equities and fixed income markets, several bankers said. Over the past two weeks, major banks have run simulations to ensure they […]

Business

SEC says Morgan Stanley agrees to pay $5 million for short sale lapses

Morgan Stanley has agreed to pay the U.S. Securities and Exchange Commission (SEC) $5 million for lapses in its prime brokerage swaps business that caused the bank to break rules governing short sales, the agency said on Wednesday The firm did not admit or deny the regulator’s charges, but has consented to a cease-and-desist order, […]

Business

Oasis Petroleum files for bankruptcy as shale slump drags on

Oasis Petroleum Inc filed for Chapter 11 bankruptcy protection on Wednesday, the latest U.S. shale producer to seek court-aided restructuring as the energy industry reels under an unprecedented crash in oil prices due to the COVID-19 pandemic. Shares of the company, which earlier this month skipped interest payments on some bonds, fell over 24% premarket. […]