Boston funding agency helps finance power software program spinoff – The Boston Globe

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Boston investment firm helps finance energy software spinoff - The Boston Globe



BEVERAGES
Coke’s head of sustainability says no plans to scrap plastic bottlesCoca-Cola is shaking off environmentalists’ calls to alter its packaging, saying there may be an excessive amount of demand for the plastic bottles. The comfortable drink big’s head of sustainability, Bea Perez, instructed the BBC that buyers are followers of plastic-packaged drinks as a result of they’re capable of reseal their bubbles in light-weight packaging. Getting rid of plastic altogether for glass or aluminum would improve the enterprise’s carbon footprint and weaken gross sales, she instructed the information outlet. — WASHINGTON POSTGROCERY STORES
Iconic NYC chain recordsdata for chapter — againFairway Group Holdings Corp. has gone bankrupt for the second time since 2016, overwhelmed by its lingering debt load and cutthroat worth competitors within the grocery enterprise. The long-lasting New York grocer filed for Chapter 11 chapter early Thursday morning with an settlement to promote 5 shops and a distribution facility to Village Grocery store Inc., proprietor of the ShopRite chain. Fairway enjoys iconic standing in New York Metropolis, its conventional base, due to its extensive choice of high quality meats, cheeses, and produce together with common groceries at 14 shops. Nevertheless it has struggled to bounce again from its 2016 chapter — the results of an excessive amount of debt after a non-public fairness buyout, and the arrival of Complete Meals, Dealer Joe’s, and Recent Direct. — BLOOMBERG NEWSAVIATION
American Airways’ revenue soared in fourth quarterAmerican Airways’ fourth-quarter revenue rose 27 p.c to $414 million on sturdy journey demand that resulted in file occupancy ranges on its planes. Nevertheless, American continues to be weighed down by the grounding of Boeing 737 Max jets. American mentioned Thursday that it had canceled about 10,000 flights within the fourth quarter due to the grounding. Adjusted earnings have been $1.15 per share, a penny higher than anticipated, based on a FactSet survey of 18 analysts. Income rose greater than Three p.c to $11.31 billion, matching the analysts’ common forecast. — ASSOCIATED PRESSTRANSPORTATION
Amtrak scraps pricing coverage for wheelchair usersAmtrak has suspended a pricing coverage that resulted in a $25,000 journey invoice for a gaggle of activists who use wheelchairs heading to an Illinois convention and rally on incapacity rights. The passenger rail company had instructed Chicago-based Entry Dwelling its coverage was to cost additional to reconfigure practice automobiles to accommodate wheelchair customers. “It was by no means meant to be utilized to this case and we apologize for that mistake,” mentioned an announcement emailed Wednesday by Amtrak spokesman Marc Magliari. An Amtrak gross sales agent had knowledgeable Entry Dwelling of a brand new pricing coverage that meant the group can be charged for seats that should be eliminated to suit extra wheelchairs, ensuing within the $25,000 invoice. On Monday, Amtrak apologized to Entry Dwelling and agreed to accommodate everybody on the common fee of $16 per individual. Entry Dwelling spokeswoman Bridget Hayman mentioned 5 members of the group received ‘‘royal remedy’’ on their journey Wednesday to Bloomington-Regular, Sick., from Chicago. — ASSOCIATED PRESSGOVERNMENT
Amazon needs court docket to dam Microsoft from engaged on Pentagon cloud contractAmazon.com Inc. requested a court docket to briefly block Microsoft Corp. from engaged on a $10 billion Pentagon cloud contract till a lawsuit difficult its validity is resolved. Amazon filed a lawsuit in November within the US Courtroom of Federal Claims alleging that the Protection Division did not pretty choose its bid for the Joint Enterprise Protection Infrastructure, or JEDI, contract as a result of President Trump seen Amazon chief government Jeff Bezos as his “political enemy.” The president has lengthy criticized Bezos over all the things from the delivery charges his firm pays the US Postal Service to his private possession of what Trump calls “the Amazon Washington Put up.” In October, the Protection Division awarded Microsoft the contract to modernize the Pentagon’s computing infrastructure. — BLOOMBERG NEWSAUTOMOTIVE
GM to open technical middle for auto racing in North CarolinaGeneral Motors is planning to open a brand new technical middle for efficiency and auto racing close to the Charlotte Motor Speedway in North Carolina. The corporate says the 75,000-square-foot middle will open by mid-2020 off Interstate 85 in Harmony. GM says it’s nonetheless finalizing plans for the quantity of people that would work there. However it might be a mixture of staff shifting from the Detroit space and new hires in North Carolina. The corporate says in a ready assertion Thursday that the middle can be close to many Chevrolet and Cadillac racing staff companions and elements suppliers. It should faucet a rising expertise base within the Charlotte space, GM says. The middle will concentrate on transferring auto racing information into engineering for autos which might be offered to the general public. — ASSOCIATED PRESSINTERNATIONAL
UK anticipated to permit Huawei to develop 5G broadband, defying TrumpThe UK authorities is poised to permit Huawei Applied sciences Co. a job in growing the nation’s fifth-generation wi-fi broadband networks, as Boris Johnson prepares to reject President Trump’s name to ban the Chinese language agency on safety grounds. The choice, which British ministers are anticipated to make within the coming days, is more likely to be introduced in Parliament subsequent week, based on an individual acquainted with the matter who spoke on situation of anonymity. The Trump administration has lobbied Johnson’s authorities exhausting in latest weeks to attempt to persuade the UK to exclude Huawei from 5G networks over issues the expertise might facilitate Chinese language spying in future. The corporate has all the time denied that it poses any safety danger. — BLOOMBERG NEWSUTILITIES
Bankrupt PG&E reaches cope with financiersAfter spending nearly a 12 months at struggle with among the largest names within the monetary world, bankrupt utility PG&E Corp. has lastly received them on its aspect. Late Wednesday, PG&E reached a settlement with noteholders led by bond big Pacific Funding Administration Co. and activist investor Elliott Administration Corp., who sought to derail the corporate’s $46 billion restructuring plan. The deal brings the corporate nearer to gaining approval by a state deadline of June 30 and rising from the largest utility chapter in US historical past. There’s one downside: Governor Gavin Newsom, whose backing is essential to PG&E’s restructuring, continues to be attempting to dam its plan. — BLOOMBERG NEWSMORTGAGES
Charges fall to lowest degree in three monthsLong-term mortgage charges fell this week to their lowest degree in three months, deepening the motivation for potential homebuyers though they face eroded affordability as costs proceed to climb. Mortgage purchaser Freddie Mac mentioned Thursday that the typical fee for a 30-year fixed-rate mortgage declined to three.60 p.c from 3.65 p.c final week. The benchmark fee stood at 4.45 p.c a 12 months in the past. The common fee on a 15-year mortgage eased to three.04 p.c from 3.09 p.c final week. — ASSOCIATED PRESS



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