Spain's Iberdrola on Tuesday terminated its $4.3 billion agreement to acquire Albuquerque-based utility PNM Resources, which it would have merged with U.S. renewables business Avangrid.
Why it matters: This is a reminder that state regulators can be just as thorny for dealmakers as are federal regulators.
Humanity's hottest year in at least 125,000 is now over. But with further warming ahead, we may soon look back on it as an average year, rather than an aberration.
