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N.J. nuclear power subsidy bill could cost $320 million per year
Last week, Ralph Izzo, chief executive of Public Service Enterprise Group Inc, which operates three reactors in the state at the Salem and Hope Creek plants, said he may be forced to shut the units unless the state provides subsidies. Izzo, who made his comments at a joint committee session in the New Jersey legislature, said the reactors were profitable now but could start losing money over the next couple of years because cheap natural gas has depressed power prices. If it ultimately passes and becomes law, it would require utilities to recover 0.4 cent per kilowatt hour from customers to cover the cost of the subsidy.
Fri, 15 Dec 2017 18:24:47 -0500
Turkish banker on trial denies helping Iran evade U.S. sanctions
An executive at Turkey's majority state-owned Halkbank took the witness stand in a New York courtroom on Friday and denied charges that he participated in a scheme to help Iran evade U.S. sanctions. Mehmet Hakan Atilla, who has been on trial in federal court for three weeks, told jurors that he "never" conspired with fellow defendant, Turkish-Iranian gold trader Reza Zarrab, as U.S. prosecutors have charged. U.S. prosecutors have charged nine people with conspiring to help Iran evade sanctions through fraudulent gold and food transactions.
Fri, 15 Dec 2017 17:50:01 -0500
Judge blocks Trump administration rules on contraceptive coverage
A U.S. judge on Friday blocked President Donald Trump's administration from moving forward with new rules that undermined an Obamacare requirement for employers to provide health insurance that covers women's birth control. U.S. District Judge Wendy Beetlestone in Philadelphia issued a preliminary injunction preventing enforcement of rules the administration announced in October that allowed businesses or non-profits to obtain exemptions on moral or religious grounds. Beetlestone wrote that Pennsylvania Attorney General Josh Shapiro, a Democrat who sued to block the rules, was likely to succeed in establishing that the administration did not follow proper notice procedures when issuing the new rules.
Fri, 15 Dec 2017 17:49:38 -0500
Former cell phone company executive convicted of text message scam
A U.S. jury on Friday found the former chief executive of mobile aggregation company Mobile Messenger guilty of defrauding mobile phone customers by charging them millions of dollars for unwanted text messages. Darcy Wedd, 40, was convicted in Manhattan federal court of wire fraud and conspiracy charges after a two-week trial, the office of Acting U.S. Attorney Joon Kim in Manhattan said. Robert Caliendo, a lawyer for Wedd, declined to comment on the verdict, which came after Wedd's third trial.
Fri, 15 Dec 2017 17:36:34 -0500
Crews wary as gusty winds stoke huge California wildfire
By Dan Whitcomb LOS ANGELES (Reuters) - Crews battled shifting winds and difficult terrain on Friday to stop a mammoth wildfire that has burned for nearly two weeks along the scenic California coastline, killing a firefighter and destroying more than 720 homes. The so-called Thomas Fire, which broke out on Dec. 4 near a private college in the community of Ojai, has since raged across 252,000 acres, or nearly 400 square miles, making it the fourth-largest wildfire since record-keeping began in California in 1932. Fire officials said a return of gusty Santa Ana winds made further progress difficult.
Fri, 15 Dec 2017 16:44:55 -0500
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