Month: October 2019

California moved to end the use of private, for-profit lockups in America’s largest state prison system as well as in federal immigration detention centers in the state under a measure signed into law on Friday by Governor Gavin Newsom. The new law bars the California Department of Corrections and Rehabilitation from entering into or renewing a contract with a private company to run a state prison after Jan. 1, 2020, unless needed to meet court-ordered inmate housing limits. It will ban California from incarcerating anyone in privately run facilities altogether from 2028. …read more […]

Chief Executive Herbert Diess in March said Volkswagen was reviewing its portfolio of brands, which also include Ducati and Bentley, and whether to divest some non-core businesses. Volkswagen is readying to fold Lamborghini into a separate legal entity, in a process that may wind up toward the end of next year, Bloomberg reported, citing sources. …read more […]

Volkswagen is looking at options for its luxury brand Lamborghini, including a sale or stock listing, Bloomberg reported on Friday, citing people familiar with the matter. Chief Executive Herbert Diess in March said Volkswagen was reviewing its portfolio of brands, which also include Ducati and Bentley, and whether to divest some non-core businesses. Volkswagen is readying to fold Lamborghini into a separate legal entity, in a process that may wind up toward the end of next year, Bloomberg reported https://www.bloomberg.com/news/articles/2019-10-11/vw-is-said-to-mull-options-for-lamborghini-brand-in-overhaul, citing sources. …read more […]

A new era of airline loyalty programs has arrived. United Airlines announced this week that the criteria for elite qualification in its MileagePlus loyalty program would change dramatically next year. Starting in January of 2020, United’s loyalty members will earn elite status based on Premier Qualifying Flights and Premier Qualifying Segments only. Flight miles, the […] …read more […]

U.S. utility companies Avangrid Inc and PPL Corporation are in talks to combine their business, the Financial Times reported, citing people familiar with the matter. The report said https://www.ft.com/content/06dbb574-ec71-11e9-a240-3b065ef5fc55 it was unclear whether a deal would include an investment from Spanish utility Iberdrola, the world’s biggest wind power producer, which owns more than 80% of Avangrid. …read more […]

Boeing Co said on Friday it was separating the roles of chairman and chief executive officer to allow CEO Dennis Muilenburg to focus full time on running the U.S. planemaker as it works to return its 737 MAX jet to service. The planemaker said its decision was the latest of several actions by the board and the company’s senior leadership to strengthen its governance and safety management processes. “The board also plans in the near term to name a new director with deep safety experience and expertise to serve on the board and its newly established Aerospace Safety …read more […]

San Francisco’s offer significantly undervalued its assets and a deal wouldn’t be in the best interest of its customers, PG&E Chief Executive Officer Bill Johnson wrote in a letter, dated October 7, to San Francisco Mayor London Breed. The company’s financing strategy to emerge from bankruptcy did not include selling off company assets, Johnson said in the letter. In early September, eight months after the utility sought Chapter 11 bankruptcy protection, San Francisco offered to buy PG&E’s assets serving the city. …read more […]

Oct.11 — Uber Technologies Inc. plans to buy a majority stake in online grocer Cornershop, a deal designed to extend its geographic reach and bolster profits by bundling food delivery with rides. Bloomberg’s Lizette Chapman reports on “Bloomberg Technology.” …read more […]