Proposed mine qualifies for $200M in Nebraska tax incentives
OMAHA, Neb. | The company working to build a mine in southeast Nebraska to extract a rare heat-resistant element said the project qualified for up to $200 million in state tax incentives.
NioCorp Developments said Tuesday it signed a contract with Nebraska for tax incentives on the proposed niobium mine near Elk Creek. The project is expected to create over 400 jobs and require more than $1 billion in construction costs.
NioCorp said the incentives would lower its operating costs in the first 10 years of the mine’s operation. The company is working to raise enough money to move forward with the project.
The U.S. currently imports nearly all the niobium that’s used in this country to harden steel and make it more heat-resistant for industrial uses.
NioCorp is based in Centennial, Colorado.
Bed Bath & Beyond taps former Target exec to be CEO
NEW YORK | Struggling home goods chain Bed Bath & Beyond named Target’s former chief merchandising officer to be its new CEO and president.
The Union, New Jersey-based chain said that Mark J. Tritton, a 30-year-retail industry veteran, will assume the top role on Nov. 4. Tritton succeeds interim CEO Mary A. Winston.
Shares of Bed Bath & Beyond soared more than 21% in after-market trading Wednesday following the announcement.
During his three-year tenure at Target, Tritton revived private-label brands and launched more than 30 brands in 2½ years.
American pushes back expected return of its 737 Max jetliners
FORT WORTH, Texas | American Airlines is pushing back the expected return of its Boeing 737 Max jets into next year and said the grounding of the planes cut its third-quarter pretax income by $140 million.
The airline said Wednesday that it expects to slowly bring the plane back into its schedule starting Jan. 16.
That is six weeks later than American planned just last month , and the sixth time the airline has pushed back the plane’s return.
Fort Worth-based American said it will drop about 140 flights per day until mid-January because of the grounding.
— From AP reports