Deal would create largest regulated US utility, serving 10 million customers as AI-driven demand for power surges

NextEra, a US energy giant, announced on Monday that it will buy Dominion Energy in a $67bn deal, creating what the companies say will be the world’s largest regulated utility business.

The deal comes as the appetite for energy sources has swelled with the construction of massive datacenters across the country, built largely to supply rising demand for AI.

Gautam Adani, richest man in Asia, was accused of conspiring to pay $250m in bribes to Indian government officials

The US Department of Justice is dropping its fraud charges against the Indian billionaire Gautam Adani, the richest man in Asia, after he hired a new legal team led by Donald Trump’s personal lawyer, according to new reports.

In an undisclosed April meeting at the justice department, Trump’s personal lawyer, Robert J Giuffra Jr, said that Adani would invest $10bn in the US economy and create 15,000 jobs if prosecutors dropped the charges against him, according to the New York Times and Bloomberg.

Prices rose 3.8% over the last year, according to Bureau of Labor Statistics data, highest jump since 2023

• Sign up for the Breaking News US newsletter email

US inflation jumped to 3.8% in April as the war in the Middle East continued to drive energy prices and everyday costs for Americans.

Prices rose 3.8% over the last year, according to the data from the Bureau of Labor Statistics, the highest jump since 2023.

Steve Roth was responding to the announcement by New York’s mayor of tax on second homes worth more than $5m

• Sign up for the Breaking News US newsletter email

The phrase “tax the rich” can be “just as hateful as some disgusting racial slurs”, according to the New York City billionaire Steve Roth, who said that the top 1% should be “praised and thanked”.

Speaking on his company’s quarterly earnings call on Tuesday, Roth, the CEO of Vornado Realty Trust, expressed his support for fellow billionaire and the CEO of Citadel, Ken Griffin, who was singled out in the 15 April announcement by New York’s mayor, Zohran Mamdani, of the state’s first “pied-à-terre” tax on second homes valued at more than $5m. In a video, Mamdani announced the policy in front of Griffin’s penthouse, which he said was purchased for $238m.