A project to build four nuclear reactors in the US by Toshiba's subsidiary Westinghouse Electric has resulted in a loss of $6.3 billion, a 10% drop in share value and the resignation last week of Toshiba Chairman Shigenori Shiga. The company, which purchased Westinghouse in 2006, may have to sell its profitable flash-memory operation.
The Department of Justice revealed President Donald Trump has no plans to take his travel ban to the Supreme Court, and instead will likely replace the executive order with a new immigration act next week. There is no word yet whether the new order will be tailored to be more acceptable to the courts.
Education Secretary Betsy DeVos in a recent interview addressed a variety of topics, such as school choice, Common Core and the Every Student Succeeds Act. On school choice, DeVos said, "Florida is a good and growing example of what can happen when you have a robust array of choices."
Part of the problem with the fiduciary rule lies in the adjudication of complaints and the related costs being passed to consumers, says Francis Creighton, FSR's executive vice president of government affairs. "The problem with litigation is a court can essentially have unlimited damages," he said, adding, "We don't want things enforced by trial lawyers."
Wal-Mart's 2,500-square-foot test convenience store in Crowley, Texas, offers hot foods, coffee taps, a healthy food section, a walk-in beer fridge and gasoline pumps. The store is one of two convenience stores being tested by the retailer, both of which are located in Supercenter parking lots.
The survival rates among extremely preterm infants increased from 30% in 2000 to 36% in 2011, and the rate of those who didn't develop neurological impairments at ages 18 to 22 months rose from 16% to 20% over the same period, according to a study in the New England Journal of Medicine. Researchers said that survival improvements may be tied to wider steroid use among mothers and lower infection rates.
Carmichael Lynch's latest campaign for Subaru's 2017 Impreza includes an emotive TV ad called "Moving Out," which features a boy packing up his belongings before turning into a young adult who is saying goodbye to his parents as he leaves home. The national TV push is accompanied by digital content and social influencer marketing across Facebook, YouTube, Twitter, Instagram, Hulu, Snapchat and Roku.
Hanjin Shipping Co. will liquidate its assets following a final court ruling declaring the company bankrupt after overcapacity, a falling global economy, low freight rates and rising debt affected the company's profits. A Seoul court filed the ruling and a court-appointed caretaker will sell any remaining assets to pay creditors.
Boehringer Ingelheim's Spiriva Respimat, or tiotropium bromide, has been approved by the FDA for use as a long-term, once-a-day treatment for asthma in patients at least 6 years old. The drug was initially approved for the same condition for patients 12 years and older.
Sen. Orrin Hatch, R-Utah, has released an Innovation Agenda that promotes a free and open internet. The industry is praising the agenda, which seeks patent reform, protects cross-border data flows and preserves "the open, competitive nature of the internet against unnecessary government regulation while promoting continued development of innovative online services."
A 21-mile project to widen and improve Interstate 4 near Orlando, Fla., is 35% complete and scheduled for completion in 2021. Crews at the $2.3 billion I-4 Ultimate Project must still replace 140 bridges and add tolled express lanes.
North American exploration and production companies plan to invest about as much money in offshore as in onshore in 2017, suggesting that offshore projects are able to compete with shale again, according to Rystad Energy analysts. Companies will invest about $70 billion each in shale and offshore this year, compared with $160 billion in onshore spending and just $95 billion in offshore investments in 2014.
American Airlines is awaiting approval from the Civil Aviation Administration of China to begin service between Los Angeles and Beijing. "American has been in regular contact with Chinese authorities concerning the availability of slots, and has made plans to send one of its senior executives to China to discuss the issue in-person," American said in a regulatory filing, noting that the airline "fully expects that its continued efforts will eventually prove successful."
More than 33,000 hotel rooms are projected to be added in 10 major US cities this year, heralding good deals for travelers. New York leads with 8,600-plus, while Chicago is in line for more than 2,000.