Business in Brief
to automatic brakes
in all cars
The government has received commitments from 10 automakers to include automatic emergency braking in all new cars. It's a step
safety advocates say could significantly reduce traffic deaths and injuries.
Transportation Secretary Anthony Foxx announced the commitments Friday. Foxx says making the technology widely available is part of a new era in vehicle safety, in which the focus is on preventing crashes rather than protecting occupants from their effects.
The announcement didn't specify a timetable for implementing the change. The automakers are Audi, BMW, Ford, General Motors, Mazda, Mercedes Benz, Tesla, Toyota, Volkswagen and Volvo.
The technology is already available in some car models, but mostly as an option in higher-priced vehicles. Experts say the systems could prevent or mitigate an estimated 80 per cent of rear-end collisions.
Puerto Rico power company
seeks private investors
Puerto Rico's heavily indebted power company is reaching out to the private sector to help upgrade its ageing infrastructure and lessen its reliance on oil.
The Electric Power Authority says it will be accepting submissions of investment proposals through October 26.
Executive Director Javier Quintana said Friday that the process will help identify what solutions the private sector can provide.
The announcement comes about a week after the
company announced a deal with a group of bondholders to restructure part of its roughly US$9 billion debt.
The power company also obtained a debt payment extension until September 18, with all creditors agreeing, except the National Public Finance Guarantee Corporation.