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Natural gas overtook coal as the top source of U.S. electric power generation for the first time ever earlier this spring, a milestone that has been in the making for years as the price of gas slides and new regulations make coal more risky for power generators.
About 31 percent of electric power generation in April came from natural gas, and 30 percent from coal, according to a recently released report from research company SNL Energy, which used data from the U.S. Energy Department. Nuclear power came in third at 20 percent.
Comcast debuting streaming video service
NEW YORK » Comcast, the country’s largest cable company, is offering its own online video alternative as people spend fewer hours watching live TV and more time using tablets and phones for entertainment.
The new service, called Stream, will be available to Comcast Internet customers and cost $15 a month. It will include only broadcast networks like Fox and NBC in addition to HBO, but no cable channels like AMC or TNT.
Anyone can watch broadcast networks for free on a TV with an antenna, which costs about $20 and up. And HBO already sells a stand-alone streaming service for $15 a month.
China accuses firms of stock manipulation
BEIJING » Authorities accused securities firms of manipulating stock prices during China’s market plunge and launched a crackdown Monday against unlicensed companies that financed speculative trading.
The moves appeared to be aimed at deflecting blame from the ruling Communist Party for trillions of dollars in investor losses as China’s market benchmark plummeted 30 percent over the past month.
They came as drastic official efforts over the past two weeks including a ban on sales by executives and big shareholders appeared to at least temporarily stop the decline that wiped out $3.8 trillion in investor wealth.
Feds had $51.8B budget surplus in June
WASHINGTON » The U.S. government ran a budget surplus in June, leaving the budget deficit this year running under last year’s level.
The Treasury Department says the surplus in June totaled $51.8 billion, compared with a surplus of $70.5 billion a year ago. However, the larger 2014 monthly surplus was heavily influenced by a timing quirk that had moved June benefit payments into May last year because June 1 fell on a Saturday.
For the current budget year, the government is running a deficit of $313.4 billion, a 14.3 percent reduction from the imbalance over the first nine months of the previous budget year.
Union, GM confident of reaching contract
DETROIT » It was all smiles and optimism Monday as the United Auto Workers union opened contract talks in an official handshake ceremony with General Motors.
But the glad-handing might not last long with both sides a long way apart on a number of financial issues.
GM and Ford want to cut labor costs that are $8 to $9 per hour higher than U.S. plants owned by Honda and Toyota, while Fiat Chrysler wants to keep its costs stable.
The union also wants pay raises for longtime workers, an end to lower pay for entry-level workers and new product guarantees what would create jobs at U.S. factories.
No Nokia mapping unit for Uber, sources say
Uber has made no secret of its global ambitions. The company’s plans, however, will not include the multibillion-dollar purchase of Here, the main competitor to Google Maps.
Uber, the ride-hailing service, is now out of the running to acquire Here, according to three people with knowledge of the talks. The company had submitted an offer for the mapping division this year for as much as $3 billion.
Instead, the three people said, negotiations for Here have focused on a potential deal between Nokia and a consortium of German automakers, including BMW, Audi and Mercedes-Benz. The automakers rely heavily on the Finnish company’s digital mapping division to power their onboard navigation and entertainment systems.
The main sticking point has been price. Nokia, which recently agreed to buy the French-American telecommunications equipment maker Alcatel-Lucent for $16.6 billion, wants at least $4 billion for its mapping business.
Starbucks leads drive to hire young workers
Starbucks Corp. is leading more than a dozen companies in an effort to hire 100,000 young workers with "systemic barriers to jobs and education" in the next three years.
The coffee giant said Monday the coalition of employers includes Alaska Air Group Inc., CVS Health Corp., Lyft Inc., Macy’s Inc., Microsoft Corp., Target Corp. and Wal-Mart Stores Inc. The group has pledged to bring on more 16- to 24-year-olds as apprentices, interns and employees by 2018 — the continuation of a promise by Starbucks CEO Howard Schultz in March to hire more from the demographic.
ON THE MOVE
Hawaiian Airlines has promoted Jim Landers to vice president of maintenance and engineering. He held various roles at Hawaiian, including serving as an interim vice president of maintenance and engineering, managing director of maintenance and director of strategic initiatives. Prior to joining Hawaiian, he had 25 years’ experience in aviation operations and organizational leadership while he was in the Navy.
District 49 Toastmasters in Hawaii has appointed the following Key 3 officers for the July 1, 2015, to June 30, 2016, term:
» Charles Mole Jr. is the new district director. He was previously lieutenant governor of education and training.
» Caron Lau is the new program quality director. She is responsible for education and training within the district. She was previously lieutenant governor of the marketing position.
» Kyle Nishioka has been appointed club growth director. He is responsible for marketing, club building and club retention efforts. He was previously division governor for Toastmasters.
» Fernando Gomez has been promoted to public relations manager. He is responsible for coordinating publicity efforts in the district.
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