On Friday, Shares of PPL Corp (NYSE:PPL), lost -1.92% to $29.67.
PPL Electric Utilities and the advocates and interest groups who intervened in the company’s rate proceeding have reached a settlement that would improvement delivery rates and assist fund additional reliability improvements.
“This is a fair settlement among all the parties in the case,” said Greg Dudkin, president of PPL Electric Utilities. “We appreciate the constructive dialogue that enabled us to reach this agreement.”
The company will use the raised funding to continue its work to prevent power outages for the 3 million people who depend on PPL for safe and reliable electric service.
PPL Corporation, a utility company, delivers electricity and natural gas in the United States and the United Kingdom. It serves 321,000 natural gas and 397,000 electric customers in Louisville and 16 surrounding counties; and 543,000 customers in 77 Kentucky counties and 5 counties in Virginia.
Shares of Cliffs Natural Resources Inc (NYSE:CLF), declined -0.77% to $3.86, during its last trading session.
First Point Minerals Corp., provided a corporate update on the status of its 40%-owned Decar nickel project (“Decar” or the “Project”), located in central British Columbia.
Following the option agreement reached in November 2009 between First Point and Cliffs Natural Resources Exploration Canada Inc., an associate of Cliffs Natural Resources Inc. (CLF) (“Cliffs”), effective recently the structure of Project ownership has converted to a contractual joint venture, on pre-agreed terms, with initial ownership interests fixed at the current levels of 60% for Cliffs and 40% for First Point.
First Point will continue to engage with Cliffs to understand the potential impact on the Decar project of ongoing developments, and to explore all available opportunities to maximize First Point’s participation in the Project’s continued advancement.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
Finally, XL Group plc (NYSE:XL), ended its last trade with -2.01% loss, and closed at $36.55.
To boost efficiencies and direct expanded resources to provide insurance for the most complex, challenging business risks, XL Catlin’s Excess & Surplus (E&S) Casualty business has unveiled a new geographically-focused structure and named three new regional leaders. Coy Rudd is designated East regional vice president in New York; Ankur Chokshi was named Central regional vice president, based in Chicago while Scott Noffsinger assumes the Western regional vice president role, working from Scottsdale, Arizona.
According to John Goodloe, president of XL Catlin’s E&S, Casualty team, “The integration of XL Group and Catlin Group’s E&S capabilities has created a much larger, practiced and eager Casualty E&S operation. To make the most of our combined strength, greater capacity and broader risk appetite, we’ve restructured our team to align underwriters by geography to be in closer proximity to our brokers and clients and to stay on top of state requirements and related legal environments.”
XL GROUP Public Limited Company, an insurance and reinsurance company, provides property, casualty, and specialty products to industrial, commercial, and professional firms; and insurance companies and other enterprises worldwide. The company operates in two segments: Insurance and Reinsurance.
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