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Category: Business

150 years of spills: Philadelphia refinery cleanup highlights toxic legacy of fossil fuels

March 1, 2021February 23, 2021hamftnet

Wearing blue hard hats, white hazmat suits and respirator masks, workers carted away bags of debris on a recent morning from a sprawling and now-defunct oil refinery once operated by Philadelphia Energy Solutions (PES). Other laborers ripped asbestos from the guts of an old boiler house, part of a massive demolition and redevelopment of the […]

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Marriott CEO Sorenson dies after battle with cancer

February 28, 2021February 23, 2021hamftnet

Marriott International Chief Executive Officer Arne Sorenson, who was undergoing treatment for pancreatic cancer, has died, the company said on Tuesday. The first non-family member to head the hotel chain, Sorenson, 62, had earlier this month stepped back from full-time role to treat the cancer that was diagnosed in 2019. Marriott said he died on […]

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U.S. airline passenger traffic fell last year to lowest number since 1984 – DOT

February 27, 2021February 23, 2021hamftnet

In total, there were 368 million passengers in 2020, down from 922.6 million in 2019. The previous yearly low was 351.6 million in 1984, the department said. December air travel fell 62%, slightly more than the decline in November, the department said. For all of 2020, U.S. domestic air travel fell by 58.7%, while international […]

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Citigroup cannot recoup Revlon payouts after nearly $900 million gaffe

February 26, 2021February 23, 2021hamftnet

A federal judge on Tuesday said Citigroup Inc C.N is not entitled to recoup half a billion dollars of its own money that it mistakenly wired lenders of Revlon Inc, in what he called “a banking error of perhaps unprecedented nature and magnitude.” U.S. District Judge Jesse Furman in Manhattan said the Aug. 11, 2020, […]

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Goldman’s head of global markets division to retire in March

February 25, 2021February 23, 2021hamftnet

Michael Daffey, chairman of Goldman Sachs Group Inc’s global markets division, is set to retire in March, according to an internal memo seen by Reuters and confirmed by a spokeswoman. Daffey, who has been at the bank for nearly 28 years, helped the bank’s preparation for Brexit, the memo said. The outgoing chairman was also […]

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General Electric expects negative cash flow in first quarter 2021: CEO

February 24, 2021February 23, 2021hamftnet

General Electric Co expects a cash outflow in the first quarter of 2021 despite a year-on-year increase in cash generation, Chief Executive Officer Larry Culp said at a Barclays Industrial Conference on Tuesday. Culp said the first three months of the year tends to be the industrial conglomerate’s “softest” quarter. Analysts surveyed by Refinitiv, on […]

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Lucid Motors nears SPAC deal as Klein launches financing

February 23, 2021February 23, 2021hamftnet

Luxury electric vehicle maker Lucid Motors Inc is getting close to a deal to go public at a roughly $12-billion valuation after veteran dealmaker Michael Klein’s blank-check acquisition firm launched a financing effort to back the transaction, people familiar with the matter said on Tuesday. The merger between Lucid and Klein’s Churchill Capital IV Corp […]

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  • 150 years of spills: Philadelphia refinery cleanup highlights toxic legacy of fossil fuels
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  • Concern for missing Waitrose employee, 23, who hasn’t turned up to work for weeks

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