More Wall Street whiplash...Maryland board rejects pipeline project...Dominion Energy completes buyout of SC utility
NEW YORK (AP) — The roller coaster ride on Wall Street has resumed on the first trading day of the new year, as stocks plunged in the morning and then climbed their way back by midday. The Dow Jones Industrial Average dropped 398 points in the first few minutes of trading after more shaky economic news from China. It was slightly higher by early afternoon. That kind of whiplash was typical during the last three months of 2018.
ANNAPOLIS, Md. (AP) — A board of high-ranking Maryland officials has rejected a pipeline across the western part of the state that would carry natural gas produced in Pennsylvania to West Virginia. The Board of Public Works voted 3-0 today against an easement for TransCanada’s proposed pipeline. It would run under the Potomac River and extend 3 miles from Columbia Gas’ network in Pennsylvania to Mountaineer Gas’ distribution system in West Virginia. Environmentalists oppose the pipeline.
COLUMBIA, S.C. (AP) — Dominion Energy says it has completed its merger with a South Carolina utility drowning in debt after the failure of a nuclear construction project. The Virginia-based company announced today that it paid $6.8 billion for SCANA Corp.’s stock and also is taking on SCANA’s consolidated net debts of $6.6 billion. Dominion was the only buyer for the parent company of South Carolina Electric & Gas after SCANA abandoned the V.C. Summer Nuclear Station expansion in 2017.
DUBAI, United Arab Emirates (AP) — Qatar (KUH’-tur) Airways says it now holds a 5 percent share in China Southern Airlines, helping expand the Gulf carrier’s reach in one of the world’s fastest growing aviation markets. The Mideast carrier has a 49 percent stake in Air Italy, nearly 10 percent in Cathay Pacific and LATAM Airlines Group, and a 20 percent investment in International Airlines Group — the holding company for British Airways among others. China Southern Airlines is a member of SkyTeam, an alliance that includes Delta, KLM, Air France and others.
COPENHAGEN, Denmark (AP) — A Danish passenger train apparently hit cargo that fell from a passing freight train today as the two trains crossed a bridge linking the country’s islands. Six people were killed and 16 injured in the worst train accident in Denmark in more than 30 years.