Business Briefs – July 25, 2016

 EPA Moves to Regulate Climate-Warming Airliner Pollution

WASHINGTON (AP) – Jet engine exhaust from airliners endangers human health and adds to climate change, the government found Monday in taking the first step toward regulating those emissions.

The Environmental Protection Agency said it will use its authority under the Clean Air Act to impose limits on aircraft emissions.

Jet engines spew significant amounts of greenhouse gases, including carbon dioxide and methane, into the upper atmosphere, where they trap heat from the sun. But proposed rules such as imposing fuel-efficiency standards have faced stiff opposition from aircraft makers and commercial airlines.

Farewell to VCRs: Japanese Maker To Shelve Once-Hit Product

TOKYO (AP) – Japanese electronics maker Funai Electric Co. says it’s yanking the plug on the world’s last video cassette recorder.

A company spokesman, who requested anonymity citing company practice, confirmed Monday that production will end sometime this month, although he would not give a date.

He said the company would like to continue production to meet customer requests, but can’t because key component makers are pulling out due to shrinking demand for VCRs.

Ericsson CEO Steps Down Amid Tightened Competition

HELSINKI (AP) – Hans Vestberg has stepped down as CEO and president of telecoms company Ericsson as the company struggles to improve earnings amid tightening competition.

The Swedish wireless equipment maker says that Vestberg will be temporarily replaced by CFO Jan Frykhammer until a replacement is found. Vestberg had been CEO for more than six years.

Last week, Ericsson reported a slide in sales and profits as it continued to struggle to improve profitability.

Report: ‘Brexit’ Move Raises Risks to US Financial Stability

WASHINGTON (AP) – Britain’s decision to quit the European Union has elevated the risks to U.S. financial stability, though they remain moderate, U.S. Treasury Department experts say.

The “Brexit” vote, which surprised financial markets and was a blow to investor confidence and brings in months or years of uncertainty over British finance, trade and investment, the Treasury’s Office of Financial Research report says. Because Britain’s economy and financial system are so closely connected with the U.S. and the rest of Europe, distress in Britain could threaten U.S. financial stability, it warned.

Starbucks Shuffles Management; New Role for Americas Head

NEW YORK (AP) – Starbucks is shuffling its management, including a new role for the executive who headed its flagship Americas unit for eight years.

The move comes after the unit reported disappointing sales growth last week, though the coffee chain says the two are unrelated.

A letter from Starbucks CEO Howard Schultz posted online Monday said Cliff Burrows, the head of the Americas division, will shift to oversee a new group called Siren Retail that includes the Teavana business, and its “Roastery” and “Reserve” stores.

1st U.S. System to Keep Drones Away From Wildfires Kicks Off

BOISE, Idaho (AP) – Federal authorities say they’ve launched the first national system intended to prevent hobby drones from interfering with planes and helicopters fighting wildfires.

The U.S. Interior Department announced the kickoff of the pilot project Monday. It uses smartphone apps already on the market to quickly alert drone fliers to temporary flight restrictions over wildfires.

Officials say drones colliding with firefighting aircraft could be catastrophic.

The Interior Department developed the system with DJI, the world’s largest civilian drone-maker, and two other companies that specialize in offering navigational information to drone fliers.