Business Highlights: Stalled spending on electrical grids, US retail sales rise n September

FRANKFURT, Germany — Stalled spending on electrical grids worldwide is slowing the rollout of renewable energy and could put efforts to limit climate change at risk if millions of miles of power lines aren’t added or refurbished in the next few years. The International Energy Agency said in a report Tuesday that the capacity to connect to and transmit electricity isn’t keeping pace with the rapid growth of clean energy technology like solar and wind power, electric cars and heat pumps.

NEW YORK — Wyndham says its board is unanimously rejecting Choice Hotels’ unsolicited buyout offer worth nearly $8 billion. Earlier, Choice Hotels International said it was asking shareholders of Wyndham to sign off on the proposed buyout after Wyndham broke off negotiations. Choice was offering $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own.

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