What's News: Business & Finance -- WSJ

Features Dow Jones Newswires

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (December 29, 2017).

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SoftBank won its bid to buy a major stake in Uber in a tender offer that values the firm at $48 billion, a roughly 30% discount to its recent valuation.

U.S. reinsurers are likely to raise their rates after one of the costliest years for natural disasters, reversing a decadelong decline.

Index funds have become heavily weighted with tech stocks as the sector surges, prompting some investors to trim their exposure.

ETFs have attracted more than $465 billion in new cash this year, shattering last year's record.

Apple apologized for its handling of concerns about the performance of iPhones with older batteries following a wave of complaints.

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A glut of gas from shale fields is fueling a boom in power-plant construction in some Northeastern states to replace aging coal plants.

South Korea is cracking down on cryptocurrency trading and could shut down bitcoin exchanges as it tries to curb speculation.

U.S. stocks edged higher ahead of the final trading day of the year. The Dow added 63.21 points to close at 24837.51, a record.

Initial jobless claims held steady last week near historically low levels, the latest evidence of the health of the U.S. economy.

Brazil's government voiced concern that talks on Boeing's possible takeover of Embraer had gone ahead without its knowledge.

(END) Dow Jones Newswires

December 29, 2017 02:47 ET (07:47 GMT)