US Offshore Wind Slammed by Runaway Costs
The price to produce power is up 48% in the last two years, with costs poised to climb more in the near term as the IRA stokes demand for US-made parts.
Bloomberg Business
Polish Central Bank Governor’s Defense of Rate Cut Triggers More Zloty Losses
Polish central bank Governor Adam Glapinski struggled to convince investors this week’s surprisingly steep interest-rate increase was justified, deepening the selloff in the zloty and drawing criticism that he was doing the nationalist ruling party’s bidding before next month’s elections.
US Mortgage Rates Ease From Highs, Falling for Second Week
Mortgage rates in the US decreased for a second week in a row.
Wind Farm Developer SSE Rethinks US Entry in Blow to Biden Plans
SSE Plc is reconsidering investing in the US as financial pressure on offshore wind projects makes the nation less appealing.
Walmart Cuts Starting Pay for Some New Hires Under Revamped Wage Structure
Walmart Inc. has lowered its starting pay for some new hires as part of a revamped wage structure that took effect in July.
Billionaire Drahi’s Altice Mulls Selling Stakes in Key European Carriers
Billionaire Patrick Drahi is considering selling stakes in the carriers he controls in France and Portugal among several options for reducing the debt pile at his telecommunications empire Altice.
Europe Warns of New, Highly Mutated Covid Strain as Cases Rise
European health officials warned that the new, highly mutated Pirola coronavirus variant is circulating on the continent and may be behind an uptick in Covid-19 cases.
CPAP Maker Agrees to Pay $479 Million to Settle Recall Claims
Koninklijke Philips NA has agreed to pay at least $479 million to resolve part of a sprawling litigation tied to a 2021 US recall of millions of machines designed to treat sleep apnea, according to lawyers for the plaintiffs.
Texas Grid Faces Another Test With Power Experts Assessing Near Miss
Texas is bracing for another night of tight power supplies as an unprecedented heatwave stokes demand for electricity to run air conditioners across the second-largest US state.
Apple’s Share Slump Has Some Options Investors Bargain Hunting
The slide in Apple Inc.’s shares has taken some $200 billion off the technology giant’s market cap, boosting demand for options to protect against further declines. Still, for some bargain hunters, it’s an opportunity to place some suddenly cheaper bullish bets.
