Reliance’s $11 Billion Bid Wins Lion’s Share of 5G Spectrum in India Auction
NEW DELHI—Reliance Group emerged as the biggest buyer in the Indian government’s first auction of 5G spectrum, offering about $11...
international relations
Trial Begins in Justice Department’s Bid to Block Book Publishing Merger
WASHINGTON—Trial proceedings kicked off in the Justice Department’s antitrust challenge to Penguin Random House’s planned acquisition of rival publisher Simon...
Inflation Hits Fresh Four-Decade High, According to Fed’s Preferred Measure
Inflation accelerated in June, measured by the Federal Reserve’s preferred gauge, driven by a jump in energy prices as well...
Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object
WASHINGTON—The U.S. Treasury Department is softening its limits on foreign tax credits, responding to corporations that have been warning about...
Student Loan Servicers Told to Hold Off on Sending Billing Statements
WASHINGTON—The federal government’s student loan servicing contractors have been instructed to hold off on sending billing statements ahead of an...
Russia, Ukraine Clear Way for Grain Exports to Resume Amid Fears of Global Food Crisis
ISTANBUL—Russia and Ukraine agreed Friday to resume exports of millions of tons of Ukrainian grain via the Black Sea for...
Russia’s Central Bank Slashes Rates, Sees Smaller Hit From Sanctions
Russia’s central bank Friday lowered its key interest rate below its prewar level, and said it expects the economy to...
Macau Casinos to Reopen Saturday After Covid-19 Shutdown
Casinos in the gambling hub of Macau will be allowed to reopen Saturday after a nearly two-week shutdown amid a...
Twitter-Musk Trial Set for October in Lawsuit Over Stalled $44 Billion Takeover
Chancellor Kathaleen St. Jude McCormick, the chief judge of the Delaware Chancery Court, ordered a five-day trial in October, over...
Uber Agrees to Pay Penalties After Overcharging People With Disabilities
The Justice Department said it settled a case with Uber Technologies Inc. that alleged the ride-hailing company wrongfully charged wait-time...
Chip Investment Decisions Await Congressional Action on $52 Billion Funding Bill
Political wrangling in Congress over government funding for the semiconductor industry is leaving tens of billions of dollars of potential...
Sen. Joe Manchin Balks at Global Minimum Tax Championed by Biden
WASHINGTON—The Biden administration’s international tax agenda suffered a setback when Sen. Joe Manchin rejected a 15% minimum tax on multinational...
All Jobs Businesses Cut in Pandemic Are Back, but Not Where They Were Lost
Transportation and warehousing jobs, benefiting from an e-commerce boom, have grown the fastest among major industry groups since the Covid-19...
U.S. Retail Sales Rose 1% in June
June’s increase came after sales declined slightly in May, the Commerce Department said Friday.Consumers spent more last month across a...
Fed Official Says 0.75-Point Interest Rate Rise Seems Most Likely in July
Federal Reserve officials are wrestling with how to set expectations for their policy meeting in two weeks after another scorching...
U.S. Inflation Hits New Four-Decade High of 9.1%
U.S. consumer inflation climbed to 9.1% in June, a pace not seen in more than four decades, adding pressure on...
Migrant Surge Is Top Concern at Biden Meeting With Mexico’s López Obrador
President Biden met Tuesday with Mexico’s president at the White House as both nations face a surge in illegal border...
Treasury Nominee Pressed on Global Tax Deal, China Tariffs, Inflation
WASHINGTON—Senators pressed Jay Shambaugh, President Biden’s pick to serve as the Treasury Department’s top economic diplomat, about the administration’s efforts...
Global Tax Talks Hit Another Delay
The most significant changes to global tax rules in a century will take longer than planned, negotiators said Monday, as...
Manufacturers Brace for Nord Stream Repairs, Fearing Pipeline Won’t Reopen
PARIS—European manufacturers are preparing for possible natural-gas rationing that would force them to shut production amid fears that Russia is...
