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Diamond Generating plants roots in Boston


Diamond Generating plants roots in Boston

Mitsubishi Corp.’s Diamond Generating energy subsidiary is doubling down on Boston. Diamond completed its $70 million acquisition of Boston Energy Trading and Marketing from energy giant NRG on Aug. 1. Then Diamond acquired a controlling stake in Nexamp Inc., a Boston-based solar company, after first investing in the company in 2016. Diamond CEO Satoshi Hamada said he also recently moved his office from Los Angeles to Boston. Nexamp plans to add 75 workers to its current staff of 105 over the next 18 months, and is relocating from Liberty Square to 101 Summer St. Boston Energy, a trading and energy optimization firm, expects to expand from 50 people to as many as 70. — JON CHESTO



Olive Garden to offer annual pasta passes

Olive Garden customers who can’t get enough pasta have a chance to enjoy unlimited servings for a year. The restaurant chain is offering its first annual pasta pass as part of its never ending pasta bowl promotion. The pass is available to 1,000 customers who pay $300. The 52-week pass goes on sale along with 23,000 passes that offer eight weeks of unlimited access for $100 starting at 2 p.m. EDT Thursday at www.PastaPass.com . Olive Garden says 22,000 pasta passes were claimed instantaneously last year. Olive Garden’s executive vice president of marketing, Jennifer Arguello, says the annual pass was added after customers made it clear eight weeks was not enough. The eight-week pass can be used from Sept. 24 through Nov. 18. — ASSOCIATED PRESS


Lowe’s closes Orchard Supply stores

Lowe’s Cos. chief executive Marvin Ellison continued to make waves just seven weeks into his tenure as he decided to shut down a division of smaller stores and eliminate $500 million in capital projects that will be returned to shareholders. The decision to close all 99 Orchard Supply locations — along with a plan to revamp the inventory at the company’s namesake hardware stores — led the company to cut its annual forecast. The retailer sees home-price gains driving business and plans to cut costs while investing in “retail fundamentals.” — BLOOMBERG NEWS



Uber workers receive an average of $34,000 in sexual harassment settlement

The cost of Uber Technologies Inc.’s sexual harassment scandal is now itemized: 56 current and former employees who filed claims stand to collect an average of $33,928.57. In addition, those workers and 431 other female and minority engineers covered by a 2017 class-action lawsuit will receive an average of just under $11,000 for alleged pay disparities, according to a final accounting in the settlement of the case that was submitted Monday to a federal judge in Oakland, Calif. The payouts for harassment and hostile-work environment claims were calculated based on the severity and duration of the alleged misconduct, the existence of supporting witnesses and documentation, the impact on the victim, the perpetrator’s job title, and other circumstances. — BLOOMBERG NEWS


Target’s growth highest in 13 years

Shoppers are increasingly heading to Target for toys, electronics, and home goods, which helped send the retailer’s sales growth to its highest level in 13 years. The big-box chain on Wednesday said same-store sales — a closely watched measure of sales at stores open at least one year — rose 6.5 percent in the second quarter, as customer traffic rose to ‘‘unprecedented levels.’’ Online sales, meanwhile, rose 41 percent. The company is remodeling hundreds of stores and so far this year has opened a dozen smaller-format locations near college campuses. It has also benefited from the closure of nearly 800 Toys “R” Us and Babies “R” Us stores. Sales of baby clothing and shoes rose nearly 20 percent in the most recent quarter. — WASHINGTON POST



Ousted Papa John’s founder continues to speak out

Papa John’s International Inc.’s founder, blocked from the pizza chain’s headquarters amid a deepening dispute with the rest of the board, is betting that franchisees and workers will have his back. John Schnatter, who resigned as chairman last month, took out a full-page ad in the company’s hometown paper, the Courier Journal, to direct employees of the Louisville-based firm to a website he’s launched, called SavePapaJohns.com. Papa John’s has about 120,000 workers worldwide, including those at its franchises. “The Board wants to silence me,” Schnatter wrote on the website, which includes copies of legal documents in his fight with the pizza company. “So this is my website, and my way to talk to you.” The website is part of Schnatter’s bid for new leadership at the chain, which is struggling with declining sales and controversies related to his comments. The 56-year-old came under pressure after a July media report that he used a racial slur and descriptions of violence against minorities on a call with a media agency. He admitted to using the slur but said he was taken out of context. — BLOOMBERG NEWS


Ford recalling charging cords over fire danger

Ford is recalling the charging cords for more than 50,000 plug-in hybrid and electric cars in North America because they could cause fires in electrical outlets. The company says the 120-volt cords came with certain 2012 through 2015 Focus electrics and some 2013 through 2015 Fusion Energi and C-Max Energi plug-in hybrids. Ford says plugging the cords into outlets that aren’t on a dedicated circuit or are on damaged, worn, or corroded circuits could cause wall outlets to overheat. The company says it has reports of four fires involving C-Max cords, but no injuries. — ASSOCIATED PRESS



Disney to pay tuition for workers

Disney is offering to pay full tuition for hourly workers who want to earn a college degree or finish a high school diploma. The Walt Disney Co. said Wednesday it will pay upfront tuition to workers who want to take classes starting in the fall. Disney initially will invest $50 million into the ‘‘Disney Aspire’’ program and up to $25 million a year after that. Other large corporations have begun paying tuition for workers in a job market with low unemployment. In May, Walmart said it will offer workers the chance to get a college degree at three universities with online programs. Disney is rolling out its program in phases, with the first limited to online classes. It is being administered by Guild Education, the same firm operating Walmart’s program. — ASSOCIATED PRESS


Citigroup establishes diversity targets

After years of scant progress on diversity measures, Citigroup Inc. has created hard targets for raising the percentages of women and African Americans in management positions by 2021, according to an internal memo from chief executive Michael Corbat. Black employees in the United States will make up 8 percent of managers in roles from assistant vice president to managing directors within three years, up from 6 percent today. The bank also plans to boost the share of women in those management positions globally to 40 percent from 37 percent. Among those leaders to be held accountable will be the bank’s 18-person operating committee, which currently includes three women and no African Americans.