General Electric to scrap California power plant 20 years early

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General Electric to scrap California power plant 20 years early

General Electric Co said on Friday it plans to demolish a large power plant it owns in California after only one-third of its useful life because the plant is no longer economically viable.

Fed officials face weak inflation, but split over what it means

U.S. Federal Reserve officials were divided Friday over how seriously to treat a slide in inflation, with one top policymaker saying the Fed was "close" to its inflation target and three others warning the weak price increases posed major risks the Fed may need to attack with lower interest rates.

U.S. banks clear first hurdle of Federal Reserve's annual stress test

The 18 largest banks operating in the United States took the first step toward doling out capital on dividends, share buybacks and other investments on Friday, after clearing the first stage of their yearly health checks with the U.S. Federal Reserve that assess their ability to weather a major economic downturn.

Bang-up week on Wall Street ends with a whimper

Wall Street edged lower on Friday, as U.S. Vice President Mike Pence's decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, while tensions between the United States and Iran undercut sentiment.

Oil climbs on Iran tensions, stocks edge back from seven-week highs

Oil prices added to recent gains on Friday on fears any U.S. military attack on Iran would disrupt flows of crude from the Middle East, while a gauge of global stock markets edged back from seven-week highs following a run-up spurred by optimism over monetary policy.

Four U.S. states join lawsuit to stop T-Mobile-Sprint deal

Four more U.S. states joined an unusual effort by state attorneys general to stop T-Mobile US Inc's acquisition of Sprint Corp, a New York official said at a court hearing on Friday.

U.S. oil soars 10% in week on fears of U.S.-Iran conflict

Oil futures rose 1% on Friday, with U.S. crude up 10% in the week and global benchmark Brent gaining 5%, on fears the United States could attack Iran and disrupt flows from the Middle East, which provides more than a fifth of the world's oil output.

PG&E to float $31 billion restructuring plan: Bloomberg

Power producer PG&E Corp will propose a $31 billion bankruptcy restructuring plan that will include two funds worth a total of $34 billion to cover past and future wildfire claims, Bloomberg reported https://twitter.com/scottdeveau/status/1142117995680030720 on Friday.

Global money-laundering watchdog launches crackdown on cryptocurrencies

Cryptocurrency firms will be subjected to rules to prevent the abuse of digital coins such as bitcoin for money laundering, a global watchdog said on Friday, the first worldwide regulatory attempt to constrain the rapidly growing sector.

Sparkly unicorn ice cream: Kroger's bid to win grocery wars

(This June 20 story is refiled to correct typographical error in paragraph five.)

Soft U.S. factory activity darkens economic outlook

U.S. manufacturing activity barely grew in early June and the service sector cooled, signs that President Donald Trump's trade war with China could be weighing on the economy.

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