Daily Briefing

DAILY BRIEFING

August 29, 2009

PSC holds first hearing over Constellation nuclear deal

Maryland energy regulators are holding on Wednesday the first of three hearings for public comment on Constellation Energy Group's deal to sell half of its nuclear power business to a French utility. The hearings are part of the Maryland Public Service Commission's review of whether the $4.5 billion transaction is in the public's interest. The hearings are scheduled for 7 p.m. Wednesday at the Department of Legislative Services Building in Annapolis; Sept. 17 at the War Memorial Building in Baltimore; and Sept. 29 at the Town Hall of Bel Air.

- Hanah Cho

General Growth unit sells residential community

Rouse-Fairwood Development Limited Partnership, a subsidiary of General Growth Properties, has sold a 650-unit residential community in Prince George's Country for $15 million. The transaction with Greenvest LC in Virginia closed on June 30. General Growth, which is operating under bankruptcy protection, has been trying to sell off properties to raise cash. The developer, which owns most of the region's malls, has put The Gallery and Harborplace on the market along with other properties.

- Andrea K. Walker

Apple seals deal with Chinese wireless carrier

HONG KONG - Apple Inc. will get to sell the iPhone in the world's biggest cell phone market now that it has reached a deal with a Chinese wireless carrier, China Unicom Ltd. Under a multiyear deal announced Friday, the iPhone is expected to go on sale in the fourth quarter, China Unicom executives said in Hong Kong. They declined to give financial details or reveal how much the iPhone would cost, saying only that the price would be "competitive." Unicom, one of three major state-owned carriers, would be the first Chinese phone company to formally support the iPhone, though unlocked iPhones from other markets are in wide use in China. China's mobile market trails the United States, Japan and some others in financial size but it has 650 million mobile phone accounts and is seen as a major prize for foreign firms.

- Associated Press

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