Bill Gross, manager of the world’s biggest bond fund, said the Federal Reserve may be unable to calm volatility it triggered in global financial markets after it signaled an eventual cut in its monetary stimulus.
A damaged Florida nuclear plant that spurred a boardroom coup at Duke Energy Corp. in July risks getting scrapped unless the power company can justify spending more than $1.3 billion on the costliest-ever U.S. atomic repair.
Asian stock futures slid, indicating shares in the region may extend the global market retreat, on prospects the Federal Reserve will start paring back stimulus later this year and concern over China’s cash crunch. Gold futures sank and crude slipped for a third day.
Duke Energy’s decision to dismantle a Florida nuclear power plant rather than undertake the costliest- ever U.S. atomic repair shows how rapidly cheap natural gas is remaking the U.S. power industry, hastening a shift from traditional fuels such as coal and uranium.
Barton Biggs , the hedge-fund manager who bought stocks when the market bottomed in 2009, said there needs to be a change in government in Syria before he invests in the country after popular unrest escalated this year.
AT&T Inc. Chief Executive Officer Randall Stephenson is to testify at a May 11 congressional hearing into the company’s proposed purchase of T-Mobile USA Inc., according to a news release from the U.S. Senate.