Santee Cooper enters new Bamberg contract
State-owned utility Santee Cooper will continue selling power to the city of Bamberg under a new 20-year contract announced Monday.
Moncks Corner-based Santee Cooper has sold electricity to the Bamberg Board of Public Works since 1977. The board, which has about 2,500 customers, is one of 21 municipally owned electric systems in South Carolina. Bamberg is between St. George and Aiken.
Amazon, Postal Service will deliver on Sundays
NEW YORK — Amazon says it is teaming up with the U.S. Postal Service to deliver packages on Sundays.
The company says Sunday delivery will be available to customers in the New York and Los Angeles metropolitan areas at first. Amazon and the Postal Service plan to roll out service to “a large portion of the U.S. population” next year, including Dallas, Houston, New Orleans, and Phoenix.
Amazon expects Sunday delivery to be popular with members of its Prime service, which costs $79 a year and comes with free two-day shipping on many items on the site as well as access to Amazon’s TV and movie streaming service. But Sunday delivery will be available to all Amazon customers.
US and Europe resume talks on new trade pact
BRUSSELS — The U.S.and the European Union, which already enjoy the world’s biggest business relationship, resumed talks Monday on a deal to further grow two-way trade and investment.
The negotiations are taking place against the backdrop of European pique over reported U.S. electronic espionage, and were delayed due to the U.S. government shutdown. But officials for both sides said the benefits of the proposed Transatlantic Trade and Investment Partnership are too great for the talks to be affected.
The week-long bargaining session in Brussels was expected to discuss services, investment, energy and raw materials, and regulatory issues.
BlackBerry leader’s pay package gets disclosed
TORONTO — New BlackBerry interim CEO John Chen has a large pay package.
In addition to a $1 million base salary and $2 million performance bonus, the company will give him 13 million BlackBerry restricted share units, worth $85 million based on the current stock price, that will vest over five years.
The former Sybase CEO signed on last week, when the smartphone maker abandoned plans to sell itself. If Chen fails to turn around BlackBerry, he could net far less.
News Corp. profits and revenue miss estimates
NEW YORK — News Corp. says it had an unexpected drop in revenue in the most-recent quarter, as revenue from Australian newspapers plunged. The results were short of analysts’ forecasts.
Net income in the fiscal first quarter, which ended in September, was $27 million, compared with a loss of $92 million a year ago. Revenue fell 3 percent to $2.07 billion, below the $2.18 billion analysts were looking for.
Target to open earlier on Thanksgiving night
NEW YORK — Target Corp. is the latest retailer to open earlier on Thanksgiving this year.
The discounter said it will open at 8 p.m. on the holiday, an hour earlier than last year. Stores will remain open throughout the night and close at 11 p.m. on the day after Thanksgiving.
Target also will offer hundreds of deals online on Thanksgiving morning. In addition, Target said it will feature 15 online-only daily discounts for two weeks beginning on the Sunday before Thanksgiving.
Staff and wire reports
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