Business

State-controlled Finnish utility Fortum has agreed to sell its local power distribution grid to a consortium of institutional investors led by First State Investments and Borealis Infrastructure for 2.55 billion euros ($3.5 billion). The deal is the latest in a...

Financial markets gave a cautious thumbs-up on Wednesday to a provisional budget deal that could prevent the U.S. government from shutting down in the coming months. News that U.S. budget negotiators had reached a two-year agreement couldn't overcome the year-end...

Abu Dhabi's Etihad Airways is looking at the data room of Alitalia and is expected to take a decision on whether to invest in the troubled Italian carrier by Christmas, two sources familiar with the matter said on Wednesday. Alitalia...

Banks and asset managers scored some small victories after U.S. regulators narrowed the scope of a provision in the Volcker rule that restricts banks' ownership stake in hedge funds and private equity funds. The final version of the Volcker rule,...

Britain's financial watchdog imposed a record 28 million pound ($46 million) fine on Lloyds Banking Group for the way it encouraged staff to sell 2 billion pounds of products that customers did not need. The probe covered the sale of...

Stocks fell on Tuesday, a day after a record close on the S&P 500, with traders looking ahead to next week's Federal Reserve meeting in the absence of market-moving economic data. The Dow Jones industrial average .DJI fell 52.27 points...

General Motors Co Chief Executive Officer Dan Akerson will step down next month and be replaced by global product development chief Mary Barra, who will become the first woman to lead a global automaker. The company said on Tuesday that...

U.S. banks will no longer be able to make big trading bets with their own money after regulators on Tuesday finalized the Volcker rule and shut down what was a hugely profitable business for Wall Street before the credit...

Investors piled into Twitter Inc for the second straight day, lifting its shares to more than $52 and setting a new intraday high on Tuesday even in the absence of any significant announcements from the social media debutante. Shares of...

China's annual consumer inflation unexpectedly slowed in November, easing market fears of any imminent policy tightening as authorities meet this week to outline their policy and reform priorities for 2014. Rising money market rates and bond yields indicate the People's...