The Omaha-based Kiewit Corp. has suspended construction of a coal mine in southwestern Wyoming, blaming poor demand for coal.
Twelve people will lose their jobs at the Haystack Coal Co. northeast of Evanston, but officials are working to find them jobs at projects being done by Kiewit Corp., its parent company.
Preliminary 2013 estimates by the U.S. Department of Energy's information and statistics arm show that coal production has dropped 11.5 percent from the first three months of 2012. Pending restrictions on coal-fired power plants, a mild winter and low natural gas prices have reduced demand for coal.
Oil firm postpones Arctic drilling
ConocoPhillips Alaska announced Wednesday it will not drill in Arctic waters off Alaska's northwest shore in 2014. Environmental groups hailed the decision and said the experience of Royal Dutch Shell PLC in 2012 demonstrated that oil companies are not prepared to drill in the fragile Arctic environment. ConocoPhillips said uncertainties of evolving federal regulatory requirements are the reason for backing off.
Investors' suit in Madoff case rejected
A federal appeals court in New York said Wednesday that defrauded investors cannot hold the Securities and Exchange Commission responsible for failing to expose Bernard Madoff's Ponzi scheme. The 2nd U.S. Circuit Court of Appeals rejected the lawsuit by investors, upholding a lower-court ruling that found the SEC could not be held responsible. The appeals court says the agency's actions and “regrettable inaction” are shielded by rules protecting government employees from lawsuits when they carry out a discretionary function or duty.
GM puts ads back on Facebook
Facebook Inc. won back General Motors Co. as an advertising customer a year after the automaker said it would quit running marketing messages on the world's largest social-networking service. The test ads, running on Facebook's mobile applications and website, will promote the Chevrolet Sonic subcompact car, GM said. It's part of a broader GM mobile-marketing effort. Facebook has been introducing new tools and services to keep users engaged longer and lure advertisers.