Check out this week's Business Briefs, an encompassing look at top business news this week from the Associated Press, with a special spotlight on national business and the economy.North Carolina blackouts caused by shootings could last daysCARTHAGE, N.C. — Tens of thousands of people are bracing for days without electricity in a North Carolina county where authorities say two power substations were shot up by one or more people with apparent criminal intent.
National News AP Unmarked graves, an 'ugly history': W.Va. weighs mine safety The unmarked graves in a forgotten West Virginia burial ground known locally as Little Egypt contain the remains of dozens of coal mine workers who died in a 1912 explosion. For Ed Evans, a Democratic state lawmaker and retired school teacher, they are a reminder of the dangers of undoing mine safety regulations, currently under debate in the state Legislature.
German governor quits Twitter, Scholz still mulling options The governor of Germany’s state of Lower Saxony says he is quitting Twitter because the microblogging site is increasingly being used to spread “hatred and incitement.” Governor Stephan Weil said Monday his Twitter account would be deleted the following day. Experts have warned of a rise in anti-semitic vitriol if Twitter’s new CEO Elon Musk grants “amnesty” to suspended accounts.
Business News Robinhood takes on retirement in search for more growth After blazing onto Wall Street by making trading fun for its customers, Robinhood is now setting its sights on a more staid corner of the industry: saving for retirement. The company on Tuesday is opening up signups for a retirement program, where customers can sock savings into an Individual Retirement Account, something better known as an IRA.
National News AP 1st US floating offshore wind auction nets $757M in bids The first-ever U.S. auction of leases to develop commercial-scale floating wind farms in the deep waters off the West Coast raised $757 million in bids, from mostly European companies. The auction offered two adjoining lease areas in northern California and three in central California that have the potential to generate 4.5 gigawatts of energy, enough for 1.5 million homes. The auction garnered less than the $4.
Govt-and-politics AP Biden signs #MeToo law curbing confidentiality agreements President Joe Biden has signed legislation curbing the use of confidentiality agreements that block victims of sexual harassment from speaking publicly about misconduct in the workplace. The bipartisan Speak Out Act bars the use of nondisclosure agreements that employees or contractors are required to sign, often as a condition of employment.
Technology FTC sues to block Microsoft-Activision Blizzard $69B merger The Federal Trade Commission on Thursday sued to block Microsoft’s planned $69 billion takeover of video game company Activision Blizzard, saying it could suppress competitors to its Xbox game consoles and its growing games subscription business. The FTC voted 3-1 to issue the complaint after a closed-door meeting, with the three Democratic commissioners voting in favor and the sole Republican voting against.
Govt-and-politics AP Biden releasing nearly $36B to aid pensions of union workers President Joe Biden's administration is providing nearly $36 billion to shore up a financially troubled union pension plan. The federal aid is intended to stop severe cuts to the retirement incomes of more than 350,000 Teamsters workers and retirees. The Biden administration says it's the largest-ever federal payment to a union pension fund.
National News AP Memphis nonprofit puts money behind drive to curb gun deaths Memphis has long suffered from disproportionately high homicide rates. And like many other cities, it endured a surge in homicides in 2020 on the heels of the pandemic. The violence seized the attention of Patrick Lawler, who runs the nonprofit Youth Villages. Lawler discovered a body of research suggesting that a surprisingly small number of people, generally acting in groups, are typically behind most gun violence.