EPA issues strict rule on power plants
WASHINGTON — Coal-fired power plants would be forced to capture smokestack emissions or shut down under a rule issued April 25 by the Environmental Protection Agency that's sure to be challenged in court.
The rule was among four measures targeting coal and natural gas plants that the EPA said would provide "regulatory certainty" to the power industry and encourage them to make investments to transition "to a clean energy economy."
The measures include requirements to reduce toxic wastewater pollutants from coal-fired plants and to safely manage coal ash in unlined storage ponds.
EPA Administrator Michael Regan said the rules will reduce pollution and improve public health while supporting the reliable, long-term supply of electricity that America needs.
The plan is likely to be challenged by industry groups and Republican-leaning states. They have repeatedly accused the Democratic administration of overreach on environmental regulations and have warned of a looming reliability crisis for the electric grid.
Google parent to pay 1st quarterly dividend
SAN FRANCISCO — Google parent Alphabet Inc. released a quarterly report April 25 showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence.
The results for the first three months of the year provided the latest evidence that Google has regained its momentum after an unprecedented downturn in 2022 coming out of the pandemic.
In a sign of the company's vigor, Alphabet disclosed plans to begin pay investors a quarterly dividend for the first time since Google went public 20 years ago. The move caused the stock price to soar by more than 13 percent.
Microsoft profit rises 20% amid AI push
NEW YORK — Microsoft reported April 25 that its profit rose 20 percent to almost $22 billion for the January-March quarter as it tries to position itself as a leader in applying artificial intelligence technology to make workplaces more productive.
The company's per-share gain of $2.94 beating Wall Street's expectations for earnings of $2.82.
The software maker posted revenue of $61.86 billion in the period, its third fiscal quarter, up 17 percent from the same period a year ago. Analysts polled by FactSet expected Microsoft to post revenue of $60.86 billion.
Southwest, American take action after losses
DALLAS — American and Southwest airlines both say they lost money in the first quarter, and they're responding by trying to cut costs.
Southwest said Thursday it will limit hiring, offer voluntary time off to employees, and stop service to four airports after losing $231 million in the first quarter. Southwest plans to stop flying to Cozumel, Mexico; Syracuse, N.Y; Bellingham, Wash.; and George Bush Intercontinental Airport in Houston, where the airline’s major operation is at smaller Hobby Airport.
American says it lost $312 million but expects to return to profitably in the second quarter, which is traditionally much stronger for travel.
Mining giant makes $39B acquisition bid
LONDON — Shares in U.K.-based mining giant Anglo American jumped April 25 after it received $39 billion takeover bid from rival BHP Billiton in a deal that would create the world's biggest copper miner.
Anglo American's share price closed up 16 percent in London after revealing that the "unsolicited" and "highly conditional" takeover proposal.
BHP said the tie-up would boost its presence in the copper market, which is seeing demand soar amid the shift toward clean energy and electric vehicles.
FTC sends $5.6M to refund Ring buyers
NEW YORK — The Federal Trade Commission is sending more than $5.6 million in refunds to consumers as part of a settlement with Amazon-owned Ring, which was charged with failing to protect private video footage from outside access.
In a 2023 complaint, the FTC accused the doorbell camera and home security provider of allowing its employees and contractors to access customers’ private videos. Ring allegedly used such footage to train algorithms without consent, among other purposes.
Ring was also charged with failing to implement key security protections, which enabled hackers to take control of customers’ accounts, cameras and videos. The resulting settlement required Ring to pay a hefty fine. The FTC said it’s now using that money to refund eligible Ring customers.
Chipotle: Let them eat chicken (again)
NEW YORK — Chipotle says its employees can choose chicken once again.
Last week, the chain asked its 114,000 U.S. and Canadian workers to temporarily select another protein for their work meals to preserve its supply of chicken. The directive applied to both corporate staff and restaurant employees.
But Laurie Schalow, chief corporate affairs and food safety officer, said April 25 that the directive has been rescinded and employees can return to ordering chicken with their meals.
