Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

BUSINESS BRIEFS [Derived Headline]

Article excerpt

NRG Energy, city officials break ground on new energy center

NRG Yield, a subsidiary of New Jersey-based NRG Energy, Inc., broke ground Tuesday on a new generating facility in Uptown. UPMC Mercy will be the center's first and anchor customer, receiving steam, chilled water and backup power from the facility when it's operational in 2018. Pittsburgh City Council approved the $61 million plant in September. NRG Yield currently owns and operates a similar facility on the North Shore, which produces and delivers steam and chilled water to 30 buildings including PNC Park, the Carnegie Science Center and Allegheny General Hospital.

Oh, Snap? After bursting out of the gate, shares give way

Anyone wanting to invest in the company that owns Snapchat now has an opportunity to do something that early investors were unable to do: buy shares for less than they cost on the first day of trading. After tumbling 12 percent Monday, shares of Snap Inc. fell another 10 percent Tuesday, closing at $21.44. Snap priced its initial public offering of 200 million shares at $17 each. The shares opened at $24 apiece Thursday and jumped 44 percent on their first trading day. Industry analysts grew leery of slowing user growth numbers last year, and everyone is trying to figure out the value of a young company that is quickly catching up to Twitter in user numbers.

Uber to hire COO to help embattled CEO

Uber CEO Travis Kalanick says the company will hire a chief operating officer who can partner with him to write its "next chapter." The ride-hailing company has been hit by a series of controversies, including allegations that it routinely ignores sexual harassment, and a video of Mr. Kalanick profanely berating a driver who confronted him about steep cuts in Uber's rates for a premium version of its service. After the video surfaced, Mr. …

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