Business News in Brief

A woman stands next to signage incorporating the logo of JD.com Inc. and the company's mascot "Joy" at the company's headquarters in Beijing on Oct. 23, 2017. MUST CREDIT: Bloomberg photo by Qilai Shen.
A woman stands next to signage incorporating the logo of JD.com Inc. and the company's mascot "Joy" at the company's headquarters in Beijing on Oct. 23, 2017. MUST CREDIT: Bloomberg photo by Qilai Shen.

Landreaux named Entergy Arkansas CEO

Laura Landreaux, who has been with Entergy Arkansas since 2007, will become president and chief executive officer for the utility beginning July 1, the firm said on Monday.

She succeeds Rick Riley, who will become senior vice president of a new organization -- distribution operations and asset management -- for Entergy Arkansas' parent company, Entergy Corp.

In her new role, Landreaux will be responsible for all of Entergy Arkansas' business operations.

Landreaux was Entergy Arkansas' vice president of regulatory affairs until 2017. She has served as finance director for Entergy Arkansas since November.

Riley, who has 33 years' experience in the industry, was Entergy Arkansas' lead executive for two years. Before that, he was vice president of transmission for Entergy Services Inc.

-- David Smith

Small-business health plan option near

WASHINGTON -- The Trump administration is close to finalizing a health insurance option for small firms and self-employed people that would cost less but could cover fewer benefits than current plans, congressional officials and business groups said Monday.

The Labor Department could issue final regulations as early as today, said several people notified by administration officials. They spoke on condition of anonymity to discuss the pending announcement.

As originally proposed, the new plans would have to cover people with pre-existing health conditions. However, they could offer narrower benefits than required under the Obama-era health law.

"Association health plans" could be marketed across state lines to businesses in a common industry -- auto repair shops, for example -- or they could be sold to self-employed people like carpenters.

President Donald Trump has long asserted that promoting the sale of health insurance across state lines can bring down premiums without sacrificing quality. But many experts aren't convinced, because medical costs vary greatly according to geography. Like real estate, health insurance is a local business.

Ultimately, the proposal's success depends on buy-in from plan sponsors, consumers, insurers and state regulators. No major consequences are expected for people covered by large employers.

-- The Associated Press

Offices planned for tract in Fayetteville

Fayetteville-based Jet Ventures LLC has purchased about 13 acres in northwest Fayetteville from Simmons Bank and plans to develop the property for commercial offices, according to a release Monday.

Jet Ventures intends to divide the parcel, located on North Vantage Drive and just north of the U.S. post office on Joyce Boulevard, into smaller lots for commercial development, according to a news release. Commercial real estate investment firm CBRE brokered the deal. County records show Jet Ventures purchased the property on June 1 for $1.5 million.

"We are excited to bring to market commercial lot opportunities east of Highway 71B, as well as the potential for Class A office space," David Erstine, vice president of CBRE, said in a statement.

Plans also call for Jet Ventures to build a two-story, 40,000-square-foot building for Class A office space that could be finished by the fourth* quarter of 2019.

-- John Magsam

Oklahoma gets first EPA coal-ash permit

WASHINGTON -- The Environmental Protection Agency on Monday approved the first state permit program for disposal of toxic ash from coal plants, a switch from federal oversight that the coal industry had sought.

EPA Administrator Scott Pruitt said in a statement that the first approval of a state permit program, in Oklahoma, gives oversight to "those who are best positioned to oversee coal ash management -- the officials who have intimate knowledge of the facilities and the environment in their state."

Coal ash is the residue left after burning coal to generate power. Decades of coal ash disposal into landfills and ponds have contaminated groundwater at coal plants around the country with pollutants including arsenic and radium, according to data this spring from tests by utilities that had been ordered by the EPA.

Environmental groups had argued against the transfer of oversight of coal ash disposal to states, arguing that lax enforcement by states had already contributed to widespread groundwater contamination.

U.S. coal plants produce about 100 million tons annually of ash and other waste, much of which ends up in unlined disposal ponds prone to leaking.

The groundwater testing ordered earlier by the EPA had found heightened levels of pollutants at plants in numerous states, from Virginia to Alaska, according to data released by plant owners.

-- The Associated Press

Google invests $350M in China's JD.com

Google is investing $550 million in cash in China's JD.com as the U.S. search giant pushes deeper into online commerce.

Alphabet Inc.'s Google will buy newly issued Class A shares at $20.29 per share, the companies said in a joint statement Monday. The companies plan to explore joint development of retail ventures in Southeast Asia, the U.S. and Europe. The deal comes just a week after Google struck an alliance with Carrefour SA to sell groceries online in France through the U.S. company's platforms including Home and Assistant.

The flurry of activity signals Google's growing ambitions in e-commerce. The French partnership will allow consumers to order staples through Google services on their smartphones, tablets or other devices. The latest deal is aimed at combining JD's expertise in logistics and supply chain with Google's technology to experiment with changes in how people shop.

Google and JD have already teamed up elsewhere. They both participated in the latest funding round of Indonesia's Go-Jek, a challenger in the ride-hailing business in Southeast Asia.

-- Bloomberg News

Business on 06/19/2018

*CORRECTION: A two-story office building being built by Fayetteville-based Jet Ventures LLC in northwest Fayetteville is expected to be finished by the fourth quarter of 2019. A previous version of this story incorrectly reported the expected timetable.

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