New Braunfels Utilities moves forward with LCRA lawsuit

New Braunfels Utilities on Friday filed an amended petition in Comal County District Court expanding the amount of damages being sought in its rate lawsuit against the Lower Colorado River Authority to $20 million up from $1 million. The amended petition alleges wholesale power provider LCRA breached a 1974 wholesale power agreement with the municipal utility and broke Texas law by charging ...

Tesoro receives federal approval for BP refinery deal

San Antonio-based Tesoro Corp. has gained approval from federal antitrust regulators to buy BP Plcs refinery in Carson, Calif., for more than $2 billion. The Federal Trade Commission, which scrutinized the deal to ensure it doesnt violate antitrust law, will not require the independent refiner to sell assets. The FTC said the pairing of the BP facility with a nearby Tesoro plant could cut the ...

Valero master limited partnership could materialize before end of year

San Antonio-based Valero Energy Corp. will form a master limited partnership by year end for its logistics assets, if the refiner decides such a move makes business sense, spokesman Bill Day says. Valero earlier this month said its exploring the separation of up to $600 million in midstream assets, including pipelines, terminals, rail facilities and docks, but gave no specific timeline. The ...

Employment on the upswing in San Antonio and across Texas

San Antonios unemployment rate fell to 5.9 percent in April, according to Workforce Solutions Alamo. Total non-agricultural employment in the San Antonio-New Braunfels metropolitan statistical area expanded by 1,800 jobs, or 0.2 percent, to 887,800. Since April 2012, San Antonio-New Braunfels has added 13,800 jobs. Construction jobs continue to grow in the Alamo region, says Alamo Workforce ...

Texas leads nation in payroll gains

Texas led all states last months in payroll gains, adding 33,100 jobs in April, according to figures released by the U.S. Labor Department. Payrolls climbed in 30 U.S. states last month, while unemployment dropped in 40, showing that the labor market is strengthening across the country, Bloomberg reports. Stronger demand has induced companies to fire fewer workers and, in some cases, bulk up ...