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According to Generation Investment Management, the most pressing issue for combating climate change in the US and Europe is modernizing the power grid. Upgrading the power grid will involve building new power lines, installing digital controls, and navigating bureaucratic procedures and debates over funding. The rapid growth of renewable energy has caught grid operators off guard, resulting in long waiting times for grid connections. To reach net zero carbon emissions by 2050, spending on power grids will need to triple by the middle of the next decade. However, securing grid connections is just one of many challenges in achieving climate goals, and developing countries face additional obstacles such as high costs of capital for clean-energy projects. While progress is being made in financing the energy transition, it is not happening quickly enough. [Extracted from the article]

According to Generation Investment Management, modernizing the power grid is the most pressing issue for combating climate change in the US and Europe. Upgrading the power grid will involve building new power lines, installing digital controls, and navigating bureaucratic procedures and debates over funding. The rapid growth of renewable energy has caught grid operators off guard, resulting in long waiting times for grid connections. To reach net zero carbon emissions by 2050, spending on power grids will need to triple by the middle of the next decade. However, grid upgrades are just one of many challenges in achieving climate goals, with access to private capital being a major issue in developing countries. [Extracted from the article]

Vietnam's Ministry of Public Security is investigating 32 wind power projects due to allegations of abuse of power at the Ministry of Industry and Trade. The investigation includes requesting documents and information from Vietnam Electricity Group. This investigation is part of a larger anti-corruption campaign initiated by the late Communist Party chief Nguyen Phu Trong and continued by his successor, To Lam. The Communist Party's inspection panel has previously identified violations in the regulation of solar and wind power policies. Several individuals, including Deputy Trade Minister Do Thang Hai and former deputy trade minister Hoang Quoc Vuong, have been detained in connection with corruption investigations. [Extracted from the article]

Israel is taking steps to bolster its infrastructure defense amid threats from Iran and its proxies in the region. The country is diversifying and fortifying its power supplies to ensure continuous power, which is crucial for its technology-dependent economy. Measures include building on-site defenses at power plants, stockpiling alternative fuels, and fitting backup generators or batteries to cellular telephone masts. Israel is also preparing for potential attacks on vital infrastructure and communications, such as cellular telephony. While tensions are high, authorities are taking caution and implementing these measures to protect the population. [Extracted from the article]

Israel is taking steps to bolster its infrastructure defense amid the heightened risk of attacks from Iran or its proxies in the region. The country is diversifying and fortifying its power supplies, as maintaining continuous power is crucial for its technology-reliant economy. Measures include building on-site defenses at power plants, stockpiling alternative fuels, fitting backup generators or batteries to cellular telephone masts, and providing satellite phones to officials. While tensions with Iran and its allies are high, Israel is focusing its defensive efforts on protecting vital infrastructure and communications. [Extracted from the article]

Japan has issued its first-ever warning for a megaquake after an earthquake off the coast of Kyushu. The warning was prompted by the potential for a megaquake in the Nankai trough, which could cause more damage than the 2011 earthquake and tsunami. The warning system was implemented in 2019 and is activated when a magnitude-6.8 or larger earthquake occurs in an area where megathrusts are expected. The government can issue different levels of caution and advise people to evacuate tsunami-prone areas for up to a week. [Extracted from the article]

Japan has issued its first-ever warning for a potential "megaquake" after an earthquake off the coast of Kyushu. The warning was prompted by the presence of an undersea trough along the country's coast. Prime Minister Fumio Kishida canceled a planned trip and precautionary measures were taken, such as reducing bullet train speeds and temporarily halting production in semiconductor factories. The Nankai trough, where the earthquake occurred, has the potential to cause more damage than the 2011 earthquake and tsunami. The warning system was implemented in 2019 and can issue different levels of caution depending on the earthquake's magnitude. [Extracted from the article]

Japan has issued its first-ever warning for a "megaquake" after an earthquake off the coast of Kyushu. The warning was prompted by the potential for a megaquake in the Nankai trough, which could cause more damage than the 2011 earthquake and tsunami. The warning system was implemented in 2019 and is activated when a magnitude-6.8 or larger earthquake occurs in an area where megathrusts are expected. The government can issue different levels of caution and even evacuate tsunami-prone areas for up to a week. The earthquake off the coast of Kyushu resulted in some injuries and limited damage, and precautionary measures have been taken by various companies and local governments. [Extracted from the article]

A data center building boom in the US is expected to increase the electricity demand of American Electric Power Co. (AEP) by 15 gigawatts by 2030. This is equivalent to the output of 15 nuclear reactors and represents a 42% increase in AEP's current peak load. The demand for electricity is driven by the need to power data centers, as well as electrified factories and battery-powered cars. AEP plans to supply most of the new data centers in Ohio and Texas, and has outlined plans to add 20 gigawatts of new power generation by 2033, including wind, solar, and natural gas. [Extracted from the article]

South Korean nuclear energy stocks experienced a significant increase after Korea Hydro & Nuclear Power Co. was selected to construct two reactors in the Czech Republic, surpassing French and US competitors for the project. KEPCO Engineering & Construction Co. and Korea Electronic Power Industrial Development Co. saw their shares rise by 28% and 30% respectively. The Czech Republic's decision to choose KHNP reflects its commitment to nuclear energy as a means of reducing reliance on coal, Russian oil, and gas. The government has also pledged financial support to assist CEZ in replacing its aging Soviet-era nuclear units. [Extracted from the article]

Tokyo is facing a tight power supply due to hotter-than-normal summer temperatures, prompting the city's utility to urge consumers to use electricity efficiently. The day-ahead spot price for electricity in Tokyo reached its highest level since February 2023. Unplanned maintenance and a decrease in available power generation have also contributed to the tight power supply. Japanese authorities have assured that there is enough capacity for this season, but pleas for power conservation have become common during peak demand periods. [Extracted from the article]

Tokyo is facing a tight power supply due to hotter-than-normal summer temperatures and plant outages. The city's utility is urging consumers to use electricity efficiently as the day-ahead spot price for the Tokyo region spiked to its highest level since February 2023. Unplanned maintenance has also reduced available power generation across Japan. The Tokyo area's power reserves could fall as low as 2% on Monday, prompting the Organization for Cross-regional Coordination of Transmission Operators to order a neighboring utility to share 200 megawatts of capacity. [Extracted from the article]

Mitsubishi UFJ Morgan Stanley Securities Co. has been excluded from several yen bond deals following allegations of financial wrongdoing. Development Bank of Japan Inc. and Japan International Cooperation Agency have dropped MUMSS from arranging planned bond deals, and MUMSS was also not listed as an underwriter in five bond mandates announced on Monday. Prior to the scandal, MUMSS was one of the most active arrangers for yen bonds. The Mitsubishi UFJ Financial Group Inc. unit has not commented on the specific deals. [Extracted from the article]

Kansai Electric Power Co. is planning to issue transition bonds to finance nuclear power projects in Japan. The utility company intends to sell approximately ¥30 billion ($191 million) of transition notes in two tranches in July. The funds raised will be used to invest in carbon-neutral projects, including nuclear power and zero-carbon thermal power projects. The issuance of transition bonds in Japan has increased following the government's issuance of such debt earlier this year, which is seen as a way to gradually achieve climate goals for an industrialized nation like Japan. However, these bonds have faced skepticism abroad as they do not typically finance specific environmental projects like green bonds do. [Extracted from the article]

A top Republican lawmaker, Representative Ken Calvert, has criticized Northrop Grumman Corp. for causing delays in the delivery of the Pentagon's next-generation nuclear-missile submarine. Calvert stated that a subcontractor for Northrop Grumman overpromised and under-delivered on a crucial part of the submarine. The turbine generators, which were supposed to be delivered by 2021, are now projected to be delivered in early 2025, potentially causing a delay of up to 16 months for the submarine's delivery. The article also mentions delays in the delivery of the vessel's bow section by Huntington Ingalls Industries (HII). Calvert's defense panel is proposing funding for the procurement of the second submarine and improvements to the US submarine industrial base. [Extracted from the article]

The article discusses the debate in Japan over whether to restart the Kashiwazaki Kariwa nuclear power plant, the world's largest nuclear plant, which has been shut down since the Fukushima disaster in 2011. The plant, owned by Tokyo Electric Power Company (Tepco), is seen as a critical piece of Japan's energy puzzle and a potential boost to sentiment for nuclear power use. However, there are concerns about safety and evacuation plans, as well as the lack of benefits for the local community. Japan's reliance on imported fossil fuels and the global trend towards nuclear power are also factors in the discussion. [Extracted from the article]

Tohoku Electric Power Co. saw a significant increase in its shares, the largest since 2013, due to indications that its Onagawa No. 2 nuclear reactor in Japan's Miyagi prefecture is on track to restart in September. Mizuho Financial Group Inc. upgraded its rating on the company, citing the approaching reactor restart and the potential for improved profitability. The demand for power in eastern Japan is expected to rise, which could provide growth opportunities for the company. The stock surge also affected other Japanese utilities, and the overall power company sector has been performing well due to Japan's plan to accelerate nuclear reactor restarts and the increasing demand in the semiconductor industry. [Extracted from the article]

Tohoku Electric Power Co. saw a significant surge in its shares, the largest since 2013, due to expectations of the restart of its Onagawa No. 2 nuclear reactor in September. The company announced that it has completed the necessary safety construction work for the reactor, which was originally scheduled to be finished in June. The stock also received a boost after Miuzho Financial Group Inc. upgraded its rating to buy, citing the potential for increased power demand in eastern Japan and improved profitability. This positive news also had a ripple effect on other Japanese utilities, with shares of Kansai Electric Power Co. and Shikoku Electric Power Co. rising as well. [Extracted from the article]

Chinese power stocks have seen an increase in value after President Xi Jinping called for deeper reforms in the energy sector and other industries. This comes ahead of a key party meeting in July, where investors are looking for clues on potential policy shifts. The symposium discussed topics such as energy sector reform, upgrading traditional industries through technology, and improving the business environment for foreign companies. President Xi also mentioned the need for reform in areas such as housing, employment, and childcare. Representatives from business and academia attended the symposium, which was chaired by President Xi. [Extracted from the article]

Developer Rafael Reyes is building a luxury oasis on the Bahamian island of Bimini, just off the coast of Florida, to cater to the increasing number of wealthy professionals in Miami. The development, called Rockwell Island, will include dining and beach clubs, waterfront mansions, and a Banyan Tree resort with overwater villas. Reyes aims to attract yacht owners by creating an extravagant food and beverage experience and offering easy transportation from offshore docking locations. The development is being handled sensitively, with efforts to protect the environment and benefit local communities. [Extracted from the article]

A preliminary report from the National Transportation Safety Board reveals that the container ship, Dali, which collided with Baltimore's Francis Scott Key Bridge in March, lost power multiple times leading up to the accident. The ship experienced two blackouts on the day of the collision, with the first blackout caused by electrical breakers tripping. The crew was able to restore power, but a second blackout occurred just 0.2 miles from the bridge, leaving the ship unable to avoid the collision. Prior to this incident, the ship had also experienced blackouts while in the Port of Baltimore. The bridge collapse resulted in the death of six construction workers and significant damage, prompting President Joe Biden to call for swift funding to rebuild the structure. [Extracted from the article]

More than two dozen states, rural power companies, and coal advocates have filed lawsuits challenging a new Biden administration rule that aims to reduce greenhouse gas emissions from US power plants. The lawsuits argue that the rule is an unlawful attempt to reshape the nation's electricity system. West Virginia, a major coal producer, is leading a 25-state coalition in one of the challenges, claiming that the Biden administration is defying a Supreme Court ruling and setting up power plants to fail. The new rule requires coal plants to capture most of their carbon dioxide emissions or shut down by 2039, and similar pollution cuts for new gas-fired plants. Other challenges have been filed by the National Rural Electric Cooperative Association, the National Mining Association, and America's Power. The Edison Electric Institute has criticized the rule's reliance on carbon capture technology, stating that it is not ready for wide-scale deployment. The Natural Resources Defense Council supports the rule, arguing that it embraces proven technology for cleaning up power plant pollution. West Virginia plans to request a swift stay of the regulation, similar to a strategy used against the Clean Power Plan in 2016. [Extracted from the article]

A group of more than two dozen states, led by coal-rich West Virginia, is challenging a new rule from the Biden administration that aims to reduce greenhouse gas pollution from US power plants. The states argue that the rule is unlawful and an attempt to reshape the nation's electricity system. The lawsuit comes after a 2022 Supreme Court ruling that limited the Environmental Protection Agency's authority to impose broad greenhouse gas mandates. The rule requires existing coal plants to capture most of their carbon dioxide emissions or shut down by 2039, and imposes similar pollution cuts on new gas-fired plants. Other challenges are expected, and the outcome of the lawsuit will have implications for President Biden's climate change agenda. [Extracted from the article]

Peabody Energy Corp., the largest coal producer in the US, is expressing concerns that new federal regulations aimed at reducing emissions from power plants could threaten the reliability of the electrical grid. The Environmental Protection Agency recently announced regulations that would require coal-fired power plants to capture most of their carbon dioxide emissions or shut down by 2039. These regulations are part of President Joe Biden's efforts to combat climate change, but they come at a time when the demand for electricity is expected to increase due to the growth of artificial intelligence and data centers. Peabody's CEO, Jim Grech, believes that these regulations could lead to power plant closures and potentially impact electricity supply. He also suggests that the EPA may be exceeding its authority. Other utility companies, such as American Electric Power Co., are considering legal challenges to the new rules. The concern is that the projected growth in load demand from manufacturing centers, electric vehicles, data centers, and AI centers may strain the grid's reliability due to insufficient baseload generation. [Extracted from the article]

Bondholders of Puerto Rico's bankrupt power utility, Puerto Rico's Electric Power Authority (Prepa), are seeking a larger payout in the company's restructuring plan. New projections show that Prepa's revenue is expected to exceed expectations due to higher electricity consumption. The bondholders argue that the increased demand would provide an additional $1.5 billion in revenue to pay bondholders. However, Puerto Rico's financial oversight board, which manages Prepa's bankruptcy, has declined the request to revise the debt-cutting plan based on the new projections. [Extracted from the article]

The TM Lansdowne European Special Situations Fund, managed by Daniel Avigad of Lansdowne Partners, has outperformed its peers by betting on old-economy stocks such as industrials and electrical engineering. Avigad has avoided luxury and consumer-related stocks, instead focusing on cash generative business models that are not overvalued. The fund has gained nearly 14% in the past year, beating the benchmark index and exhibiting lower volatility. Avigad sees opportunities in businesses related to electrification, healthy living, and green construction, and also invests in both growth and value stocks. [Extracted from the article]

Oaktree Capital Management is looking to raise $2.5 billion for its Power Opportunities fund, with a target first close in the third quarter of this year. The fund, overseen by portfolio manager Michael Cardito, focuses on investments in electric power, natural gas, water, and related businesses in North America and Europe. Oaktree's previous Power Opportunities fund raised $2 billion. The firm's current portfolio includes companies such as Aecon Utilities Group Inc. and Aggreko Plc. Oaktree was co-founded by Howard Marks and Bruce Karsh and sold a majority stake to Brookfield Asset Management in 2019. [Extracted from the article]

The delivery of the US's first Columbia-class nuclear-missile submarine, the USS District of Columbia, has been delayed by up to 16 months due to contractor delays in delivering the vessel's bow section and power generators. The delay was revealed in the Navy's fiscal 2025 shipbuilding request and a recent review of its ship programs. General Dynamics Corp. and HII are responsible for designing and constructing the 12-boat class, with each sub assembled from six large hull segments. The reasons for the delays have not been disclosed in detail, but contractors have cited challenges with welding and labor issues. [Extracted from the article]

Ecuador's President Daniel Noboa has ordered businesses and government offices to shut down due to a lack of electrical power caused by drought and alleged sabotage. The energy crisis comes at a time when Ecuador is already facing security and fiscal crises, leading the country to seek assistance from the International Monetary Fund. Noboa is asking voters in a referendum to approve stronger military use, extradition of Ecuadorian citizens, and the overturning of constitutional bans. The drought is also affecting other parts of the region, with neighboring Colombia rationing water and stopping electricity exports to Ecuador. The government has blamed former Energy and Mines Minister Andrea Arrobo and other officials for the crisis and has promised to pay half of consumers' power bills for the month. [Extracted from the article]

Tokyo Electric Power Co. (Tepco) has received approval from Japan's Nuclear Regulation Authority to load fuel at the Kashiwazaki Kariwa nuclear plant, the largest in the world, for the first time since the Fukushima disaster in 2011. However, the plant still needs to complete additional inspections and obtain consent from the local governor before restarting generation. The Japanese government is aiming to restart nuclear reactors to secure a stable electricity supply and reduce greenhouse gas emissions. Tepco plans to begin loading fuel into the reactor in the afternoon and the process typically takes about two weeks. [Extracted from the article]

Russia successfully launched a new rocket, the Angara-A5, on its third attempt after two previous cancellations. The rocket took off from the Vostochny Cosmodrome near the border with China and reached orbit 12 minutes later. This launch is significant for Russia's struggling space program and marks the first launch of the Angara-A5 at the Vostochny facility. The rocket is part of a new family of Russian rockets that use more environmentally friendly propellants. The ability to launch from Vostochny is crucial for Russia's plan to phase out older rockets and increase the number of rocket launches this year. Russia's space program has faced challenges due to sanctions and boycotts following the invasion of Ukraine in 2022. [Extracted from the article]

Microsoft's plan to invest $2.9 billion in Japan to enhance cloud computing and artificial intelligence infrastructure has had a positive impact on the country's utility and industrial shares. Tokyo Electric Power Co. and Hokkaido Electric Power Co. saw significant increases in their stock prices, as did companies like Takasago Thermal Engineering Co., Kyudenko Corp., and Kinden Corp. Analysts believe that Microsoft's investment could potentially increase Japan's electricity consumption due to the intensive computing involved. Microsoft also announced plans to open an AI and robotics lab in Japan and strengthen its cybersecurity collaboration with the Japanese government. [Extracted from the article]

Japan's main electricity utilities have stated that new nuclear power plants will be necessary for the country to achieve its 2050 net zero goal. Some of the reactors that are scheduled to retire by mid-century will need to be replaced with newer units. The utilities argue that new reactors are needed to reduce dependence on costly fossil fuel imports and to enhance economic competitiveness. Prime Minister Fumio Kishida has been advocating for the restart of Japan's idled reactors, but has not yet implemented policies to encourage the construction of new plants. [Extracted from the article]

The Biden administration is considering a plan to accelerate the retirement of US coal-fired power plants by two years in an effort to reduce pollution from the electricity sector. This proposal would require coal plants that do not install carbon-removal technology to shut down earlier than the initial proposal of 2040. The regulation is still being debated internally, but if implemented, it could result in 200 million tons fewer carbon dioxide emissions in 2038. The potential changes highlight the legal, political, and environmental challenges facing federal regulators in developing climate regulations that will impact the nation's electric grid. [Extracted from the article]

Japan's government is making efforts to gain local approval to restart operations at the Kashiwazaki-Kariwa nuclear power plant, the world's largest. The Minister of Economy, Trade and Industry will request the endorsement of the Niigata Governor, which is one of the final steps before the plant can resume. Restarting the plant would help reduce Tokyo Electric Power Co's reliance on imported fossil fuels. The International Atomic Energy Agency has also offered technical assistance and a team of experts to assist in gaining public trust. [Extracted from the article]

Puerto Rico's bankrupt power authority, known as Prepa, has proposed a debt-restructuring plan that includes the use of "turbo bonds." These bonds, commonly used in tobacco-settlement debt, have the potential to be repaid early if there is excess revenue. The turbo-bond structure may serve as a blueprint for other utilities facing declining usage due to factors such as the rise of solar power. David Brownstein, a former head of Citigroup's public finance department, believes that turbo bonds could become the market norm for utilities. Prepa's debt plan also includes contingent value instruments (CVIs) that will repay investors after the fixed-rate bonds are paid off in full. [Extracted from the article]

South Korea is considering the need for more nuclear power plants in order to achieve its climate targets and reduce reliance on coal. According to a report by the Korea Energy Information Culture Agency, atomic power would need to account for 40% to 45% of electricity supply, up from the current 30%, in order for South Korea to achieve net-zero emissions by mid-century. Renewables would also need to increase to 35%, with natural gas and carbon-free sources making up the remainder. The government is considering plans to start construction on new nuclear reactors as early as this year. [Extracted from the article]

Activist investor Carl Icahn has disclosed a 9.91% stake in JetBlue Airways Corp, stating that the shares are undervalued. He has also had discussions with management about the possibility of representation on the board. This news caused JetBlue's stock to jump by as much as 19% in extended New York trading. The airline has faced challenges in the past year, including the rejection of a regional alliance with American Airlines and a ruling that a planned takeover of Spirit Airlines violated antitrust laws. JetBlue is now considering steps to return to profitability, including cost cuts and reworking its flight network. [Extracted from the article]

A coal-fired generator at Jera Co.'s Taketoyo power plant in Aichi prefecture, Japan, was shut down after a fire and explosion occurred in a boiler facility area. Firefighters are currently working to extinguish the blaze, which has also affected a conveyor belt carrying coal to the structure. There have been no reports of injuries. The affected unit, Unit 5, has a capacity of 1 gigawatt and can burn both coal and biomass. [Extracted from the article]

American Electric Power and PNM Resources Inc. have agreed to sell their joint venture New Mexico Renewable Development, which includes 15 solar projects, to Exus North America Holdings LLC for approximately $230 million. The sale will allow the utility companies to invest in their regulated businesses. This move is in line with the trend of US utilities divesting unregulated power assets outside of their home markets. The sale is expected to be finalized in February 2024. [Extracted from the article]

Japan's nuclear regulator has removed a de-facto ban on operations at Tokyo Electric Power Co.'s Kashiwazaki Kariwa nuclear power plant, the world's largest. This decision is seen as a positive step for Tepco, which was previously banned from restarting the plant due to security breaches. However, the utility still needs approval from the local government and must meet stringent safety protocols set by the regulator. Japan has been increasing its use of atomic power to enhance energy supply, reduce dependence on imported fossil fuels, and lower greenhouse gas emissions. [Extracted from the article]

Indonesia is set to close the Cirebon-1 coal-fired power plant nearly seven years ahead of schedule, following discussions with the government, the Asian Development Bank (ADB), and other stakeholders. The ADB, PT PLN (state-owned utility), PT Cirebon Electric Power, and the Indonesia Investment Authority have signed a non-binding agreement to end the plant's electricity provision obligation in December 2035, compared to the original end date of July 2042. This move is part of the ADB's Energy Transition Mechanism program, which aims to accelerate the shift from fossil fuels to clean energy. The agreement is subject to due diligence and ongoing studies on the plant's impact on the electricity system. [Extracted from the article]

Japanese companies are withdrawing from offshore wind projects in Taiwan due to rising costs and delays, which are affecting the industry globally. Eneos Holdings Inc. and Shikoku Electric Power Co. have both decided to exit the Yunlin Offshore Wind Project, while Jera Co. completed the sale of its stake in Formosa 3. These withdrawals may impact investor confidence in Taiwan's offshore wind sector. Taiwan aims to increase its renewable energy proportion to 20% by 2025, but falling behind schedule on its targets and rigid requirements for local equipment procurement are contributing to higher costs and delays. [Extracted from the article]

(Bloomberg) -- Ukraine's special forces targeted the Krasnaya Yaruga electrical power station in Russia's Belgorod region with drones, Interfax reported, citing the SBU. Putin said in a state TV interview that Kremlin troops are employing a tactic he called "active defense", and are aware that Ukraine is preparing fresh attacks. [Extracted from the article]

The government has rolled out $2.3 billion of production-linked-incentives for electric vehicle batteries, benefiting companies such as Reliance Industries Ltd., Ola Electric Mobility Pvt. and Rajesh Exports Ltd. Richer economies are deploying more aggressive subsidies to kick-start the energy storage market. (Bloomberg) -- Sign up for the India Edition newsletter by Menaka Doshi - an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. [Extracted from the article]

(Bloomberg) -- Sign up for the India Edition newsletter by Menaka Doshi - an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly. India's potential for large-scale deployment means renewable power can be built on the cheap, and storage will be essential to support this expansion, Piconi said. [Extracted from the article]

The deal is part of a debt-cutting proposal the oversight board filed to the court on Friday and is the last major piece of Puerto Rico debt that needs to be restructured. The deal would give bondholders who sign the agreement 12.5 cents on the dollar on what they were owed when Prepa entered bankruptcy in July 2017, and 3.5 cents for investors who decline to join the restructuring plan. (Bloomberg) -- Some municipal bonds sold by Puerto Rico's bankrupt power utility have plunged after a group of investors reached a restructuring deal that would significantly slash the agency's debt load. [Extracted from the article]

Parkinson sued Barker for sexual harassment in 1994, a year after leaving the show, but dropped the lawsuit in 1995, saying it was too arduous and costly. (Bloomberg) -- Bob Barker, the silver-haired TV personality who spent 35 years presiding with courtly reserve over the showcase of American consumerism known as The Price Is Right, the longest-running game show in US television history, has died. Another of the show's former models, Holly Hallstrom, accused Barker of wrongful termination, saying she was let go for refusing to support him in the Parkinson case. [Extracted from the article]

US District Court Judge Laura Taylor Swain agreed to the board's request to push out the deadline to file an amended debt-restructuring proposal to Aug. 11. (Bloomberg) -- The judge overseeing the bankruptcy of Puerto Rico's power utility granted it an additional week - for the second time in the past 10 days - to reach a deal with bondholders as talks are progressing. [Extracted from the article]

(Bloomberg) -- Myanmar's military government followed up on its decision from earlier this week to extend the state of emergency until next Jan. 31 with a cabinet shakeup. Read more: How Myanmar's Military Has Hung On Despite Sanctions: QuickTake Last month, security forces raided the head office of revenue-generating state-owned Myanma Oil & Gas Enterprise under Myo Myint Oo's supervision and questioned more than a dozen staff over leaked documents that appeared to show the junta's opening of sham bank accounts to bypass sanctions, local media reported. [Extracted from the article]