Justice Department to end private prison use

The Justice Department plans to end its use of private prisons after officials concluded the facilities are both less safe and less effective at providing correctional services than those run by the government.

The DOJ says the privately run prisons don’t provide the same level of service and don’t save substantially on costs and use of them will be phased out or significantly reduced.

Two companies provide most private prison services-Correctional Corporation of America and the Geo Group; shares of both companies crashed after the announcement.

T-Mobile is now offering unlimited everything.

It is getting rid of all mobile data plans.

From here out, it will offer one postpaid option: unlimited voice, data, and text.

Customers will have to pay extra for high definition video streaming though.

Stocks again followed the price of oil.

Energy companies led the Dow higher by 23 points Thursday.

While there is still a lot of oil out there, supplies are starting to shrink.

American Apparel may move its manufacturing out of California.

The Los Angeles Times, citing people familiar with the matter, reports that American Apparel could move some processes to states such as Tennessee, North Carolina, or South Carolina, where the minimum wage is lower than L.A.

Making its clothes in Los Angeles has been an important part of American Apparel’s identity but the company is on the financial ropes and may have to make a change.

And Olympic swimmer Ryan Lochte’s endorsement deals could be in trouble.

The gold medal winner is being accused by Brazilian police of lying about being robbed at gunpoint in Rio.

The 12-time Olympic medalist is currently sponsored by Speedo, Airweave and Polo Ralph Lauren, none of which have made any decisions.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.