Daily Business Report: Wednesday, April 2, 2025
Sempra to sell Mexico energy assets to fund $56 billion capital investment program
by Chris Jennewein | Times of San Diego
Sempra announced plans Monday to sell some of its energy infrastructure assets in Mexico to fund help fund a five-year, $56 billion capital expenditure program.
Last month the San Diego-based utility holding company that serves nearly 40 million customers said it would increase capital expenditures by 16%, with most of the spending focused on Texas and California.
“At Sempra, we continually review opportunities to realign our portfolio to support the growth and expansion of our Texas and California utilities, while also maintaining a strong balance sheet,” said Jeffrey W. Martin, chairman and CEO.
With 16,000 Lost Fast Food Jobs, New Ad Blasts California’s ‘Crappiest Law’
By Katy Grimes | California Globe
“The minimum wage law very cleverly is misnamed,” Economist Thomas Sowell said. “The real minimum wage is zero. That is what many inexperienced and low skilled people receive as a result of legislation that makes it illegal to pay them what they are currently worth to an employer.”
Proof of this is California’s recent $20 per hour fast food minimum wage. Since the passage of AB 1228 to increase the minimum wage for fast food workers to $20 per hour, 16,000 fast food jobs have been lost, and fast food prices are up more than 14.5%.
AB 1228 was signed into law by Governor Gavin Newsom September 28, 2023, creating the new $20 minimum wage for fast food employees – a massive 25% increase from the $16 minimum wage.
BlackRock’s Fink Pulls Back From Climate and DEI Talk in Annual Letter
By John Carney | Breitbart
Larry Fink has spent decades shaping BlackRock into the world’s largest asset manager, earning a reputation as a leading voice in global finance. In more recent years, he became known for championing diversity, equity, and inclusion (DEI) and environmental, social, and governance (ESG) investing, and encouraging companies to embrace broader stakeholder responsibilities.
But in his 2025 letter to investors, Mr. Fink sets those themes aside. The letter makes no mention of “climate change,” “net zero,” “ESG,” or “diversity.” Even references to “sustainability” and “stakeholder capitalism”—once central to his messaging—are absent.
Instead, Mr. Fink focuses on economic growth, infrastructure, and the democratization of access to capital markets. He advocates for “baby bonds,” government-seeded investment accounts for children, as a means of encouraging long-term savings and expanding participation in financial markets. He also highlights private credit, infrastructure investment, and asset tokenization as key frontiers for BlackRock’s growth.
