Please ensure Javascript is enabled for purposes of website accessibility

Author Archives: Bloomberg

SunEdison bolsters balance sheet as deals nix debt, sell solar (access required)

SunEdison Inc., the renewable-energy developer that’s dropped 73 percent this year, is taking steps to shore up its balance sheet with a pair of deals to reduce debt and sell its stake in a 336-megawatt portfolio of solar farms. Its ...

Read More »

Bank of America sees $600 million pretax writedown tied to Merrill TruPs (access required)

(Bloomberg) — Bank of America Corp. will post a $600 million pretax writedown in the fourth quarter as it redeems $2 billion of trust preferred securities tied to its 2009 acquisition of Merrill Lynch. “The company expects to realize cash ...

Read More »

Online surge means many not-so-happy returns for retailers (access required)

A surge in online sales this holiday season is boosting expenses for some retailers as more shoppers return merchandise purchased with the click of a mouse. Consumers are expected to return $62 billion in goods bought between November and December, ...

Read More »

Chesapeake leads S&P 500’s losers amid historic gas collapse (access required)

Chesapeake Energy Corp. is having its worst year since 1998 after halting dividend payouts, slashing drilling budgets and cutting one of every six employees failed to rescue the energy explorer from the deepest gas-market rout in 16 years. Chesapeake lost ...

Read More »

SunEdison falls a second day amid concern on financing talks (access required)

SunEdison Inc. fell for a second day after an analyst raised concern that negotiations over about $650 million in financing could dilute the value of existing shares. The world’s biggest renewable-energy developer fell 8.6 percent to $5.02 a share at ...

Read More »

Wall Street predicts corporate America’s bond binge will go on (access required)

Wall Street’s biggest dealers are forecasting that blue chip U.S. companies will sell more than $1 trillion of bonds for a fifth straight year in 2016 as corporate America’s borrowing binge endures beyond the end of the Federal Reserve’s zero-rate ...

Read More »

Pa. sets budget impasse record (access required)

(Bloomberg) — Pennsylvania broke the record for the longest budget impasse in modern state history on Thursday, now at 177 days, after lawmakers advanced a scaled-down spending plan that Governor Tom Wolf is signaling he will veto. The longest budget standoff had ...

Read More »

Oil set for biggest weekly gain in 4 Months as U.S. supply drops (access required)

Oil in New York headed for the biggest weekly gain in more than two months after U.S. crude inventories declined and the number of drilling rigs fell. West Texas Intermediate futures are up 9.6 percent this week, the biggest gain ...

Read More »

Consumer comfort in U.S. rises to highest in almost two months (access required)

  (Bloomberg) — Consumer confidence rose last week to the highest level in almost two months as Americans reported brighter attitudes about the national economy, their personal finances and the buying climate. The Bloomberg Consumer Comfort Index increased to 42.2 ...

Read More »

U.S. gas heads for biggest weekly gain since february 2014 (access required)

Natural gas futures are staging the biggest rebound this week since February 2014 on speculation that a seasonally cool start to January will stoke demand after an unusually mild December. The Northeast and Midwest will see seasonal temperatures Jan. 3 ...

Read More »