The Obama administration’s announcement yesterday that it was delaying a ruling on the Keystone XL oil pipeline drew an angry reaction from supporters of the $5.4 billion project, including some who said it was designed to push the issue beyond the November election.
Four years ago, a small Chinese automaker had such big ambitions it broke ground on a $1 billion plant to make more cars than Ford Motor Co. Then reality set in and Jilin Tongtian Automobile Co.’s factory site is now a pile of rubble.
Serbian Prime Minister-Elect Aleksandar Vucic vowed to cut spending and avoid debt restructuring before a vote on his government as he begins work on an international aid accord and European Union membership.
Two of the nation’s largest environmental groups are combining forces to raise $5 million for the 2014 election to blunt better-financed efforts by industry groups fighting tougher climate-change laws.
Billionaire Patrick Drahi’s Altice SA won the bidding contest for Vivendi SA’s French phone unit, beating a government-backed offer from Bouygues SA by agreeing to a deal valued at more than 17 billion euros ($23 billion).
The yuan is poised to recover from declines that have made it Asia’s worst-performing currency as China seeks to prevent an exodus of capital that would threaten economic growth, according to the most accurate forecasters.