WEEK IN REVIEW
Monday Coal-related layoffs
The state’s biggest power company, Vistra Energy, formally said it was moving ahead with layoffs of more than 800 workers after Texas’ electric grid operator gave approval for the shutdown of three coal-fired power plants and an associated coal mine.
Fed chair plans departure
Janet Yellen submitted her resignation from the Federal Reserve board to President Donald Trump, announcing that she would leave when her successor is sworn in as Fed chairman.
Cloud service for spies
Amazon’s cloud storage unit announced that it was releasing a new service called the Amazon Web Services Secret Region, a cloud storage service designed to handle classified information for U.S. spy agencies.
Uber goes car shopping
Uber said it plans to buy up to 24,000 self-driving cars from Volvo, a purchase that marks a significant departure from Uber’s exiting business model in which private car owners make up the company’s fleet.
Tuesday Goodbye to ‘net neutrality’
Ajit Pai, chairman of the Federal Communications Commission, moved to scrap rules around open internet access. His plan would allow giant cable and telecom companies to throttle broadband speeds and favor their own services if they wish. He was following through on a pledge to try to repeal “net neutrality” regulations enacted under the Obama administration.
Huge data breach at Uber
Uber disclosed that it was the victim of a data breach in October 2016 that affected 57 million driver and rider accounts and that it fired its chief security officer, Joe Sullivan, for keeping the breach a secret for more than a year.
No NAFTA breakthroughs
The fifth round of talks among the United States, Mexico and Canada over the North American Free Trade Agreement drew to a close with negotiators still at odds over the pact’s future.
Wednesday A pledge to cut methane
Exxon Mobil, Royal Dutch Shell, BP and more of the world’s largest energy companies said they will reduce their methane emissions. The companies said they were joining to address climate change so they can continue to provide more efficient natural gas power to the world. However, they’re not adopting any specific numeric goals to reduce methane emissions. Instead, they will follow what they call “guiding principles.”
Whitman to step down
Hewlett Packard Enterprise said CEO Meg Whitman, 61, would be retiring in February, six years after joining its corporate predecessor and leading a turnaround effort that split the Silicon Valley icon in two. She will be succeeded by Antonio Neri, 50, Hewlett Packard Enterprise’s president.
Shut out of parks?
A group of state attorneys general urged the National Park Service to scrap its proposal to more than double the entrance fees at 17 popular national parks. The top government lawyers from 10 states and the District of Columbia sent a letter saying the increase could put access to the parks out of reach for many.
Thursday Surprises at the stores
As shoppers hit the stores on Thanksgiving, they were finding some surprises: toys and televisions at J.C. Penney and Barbies at Best Buy. Retailers are looking beyond economic data and mapping out ways to pick up sales from other retailers as Amazon expands its reach.
Friday Crude gains altitude
Oil briefly surpassed $59 a barrel in New York for the first time in two years as OPEC and Russia were said to have crafted the outline of a deal to extend their oil production cuts. An analyst said the temporary shutdown of the Keystone pipeline contributed to the price rise.
Amazon workers strike
Workers at a half-dozen Amazon distribution centers in Germany and one in Italy walked off the job in a protest timed to coincide with Black Friday to demand better wages from the American online giant. In Germany, ver.di union spokesman Thomas Voss said some 2,500 workers were on strike at Amazon facilities in Bad Hersfeld, Leipzig, Rheinberg, Werne, Graben and Koblenz. In a warehouse near Piacenza, in northern Italy, some workers walked off the job to demand ‘‘dignified salaries.”
A day of rest in Poland
Poland’s lawmakers approved a law that will phase out Sunday shopping by 2020 despite criticism that it may lead to the loss of thousands of jobs. Trade unions proposed the plan so shop and trade workers can spend more time with their families.