News
Chinese Rice Contaminated With Cadmium
May 21, 2013 8:22 am | CommentsAn official notice Tuesday said mills in Hunan province's Youxian county were ordered to suspend business and recall their products after samples showed excessive cadmium levels. It said the mills had been operating legally and sourced their rice from local farmers.
Feds: NYU Researchers Took Bribes From Chinese Co.
May 21, 2013 8:20 am | CommentsThe researchers' work involves MRI technology. It's funded by the National Institutes of Health. They're accused of providing nonpublic information about the technology to a medical company in China and a research institution supported by the Chinese government.
United Restarts 787 Flights After Grounding
May 21, 2013 8:14 am | by Joshua Freed, Associated Press | CommentsThe failure of Boeing's newest, flashiest and most important plane embarrassed the company and its customers. Both United CEO Jeff Smisek and Boeing CEO Jim McNerney were on board Monday's flight, and United promoted the plane's return to service.
GM Giving Paid Internships To 110 HS Students
May 21, 2013 8:10 am | CommentsGeneral Motors is kicking the tires on a unique new internship program for Detroit-area high school students. GM has hired 110 students for paid summer internships, the automaker said Monday in announcing the formation of the GM Student Corps, a program that combines service, education and mentoring.
Firm To Appeal Nuclear Plant Whistleblower Case
May 21, 2013 8:04 am | by Roxana Hegeman, Associated Press | CommentsThe Labor Department's Occupational Safety and Health Administration found Enercon Services violated whistleblower protections when it retaliated against an engineer for raising concerns during construction work at the Wolf Creek nuclear power plant in Burlington.
Sports Seem OK For Many With Heart-Zapping Device
May 21, 2013 7:53 am | by Lauran Neergaard, AP Medical Writer | CommentsA registry tracked 372 people who stuck with competitive sports after having a defibrillator surgically implanted to guard against dangerous irregular heartbeats — and found that the lifesaving device worked when needed despite the physical exertion.
Panel: Apple Uses Firms Outside U.S. To Avoid Taxes
May 21, 2013 7:47 am | by Marcy Gordon, AP Business Writer | CommentsThe strategies Apple uses are legal, and many other multinational corporations use similar tax techniques to avoid paying U.S. income taxes on profits they reap overseas. But the report found that Apple uses a unique twist, and lawmakers are raising questions about loopholes in the U.S. tax code.
Walmart Pushing For More U.S.-Made Products
May 21, 2013 7:40 am | by Chuck Bartels, Associated Press | CommentsWalmart Senior Vice President Michelle Gloeckler said promoting in-state vendors will improve sales and help the world's largest retailer sell more U.S.-made products. Presently, 44 Arkansas suppliers produce 73 brands and 1,700 items for Walmart, according to the company.
Economists Predict Increase In Consumer Spending
May 20, 2013 2:01 pm | CommentsThe economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. But they are more bullish on consumer spending and housing than they were three months ago, in part because of a more positive view about unemployment.
Judge Gives Final Approval To A123 Bankruptcy Plan
May 20, 2013 1:59 pm | by Randall Chase, AP Business Writer | CommentsA Delaware bankruptcy judge has given final approval to the reorganization plan of failed battery maker A123 Systems Inc., which was the recipient of a $249 million Department of Energy grant. Monday's court hearing resolved minor outstanding issues following the sale of most of the company's assets to the U.S. arm of Wanxiang Group Corp. for nearly $257 million.
Marine Who Dumped Toxins Felt Illness Was Payback
May 20, 2013 1:55 pm | by Allen G. Breed, AP National Writer | CommentsAs a young Marine electronics technician at Camp Lejeune in the mid-1970s, the Massachusetts man figured he'd dumped hundreds of gallons of toxic solvents onto the ground. It would be decades before he realized that he had unknowingly contributed to the worst drinking water contamination in the country's history.
Ex-Saab Execs Arrested On Accounting Charges
May 20, 2013 1:46 pm | CommentsProsecutor Olof Sahlgren says the three are "suspected of aggravated attempts to avoid tax controls" by allegedly falsifying parts of Saab's accounts between 2010 and 2011 — a crime that carries a sentence of up to four years in prison.
Special K Churns Out Products In Brand Evolution
May 20, 2013 1:44 pm | by Candice Choi, AP Food Industry Writer | CommentsThe new line, which promises to fill people up with 8 grams of protein and 5 grams of fiber, reflects Special K's push to move in step with evolving trends. Until now, Special K products largely gave dieters low-calorie imitations of their fantasy foods.
Royalty Pharma Increases Bid For Elan
May 20, 2013 1:40 pm | CommentsRoyalty Pharma is raising its offer to buy Elan on the condition that shareholders reject the Irish drugmaker's push to refocus its business through a string of recently announced deals. Royalty says it will pay $12.50 in cash for each share of Elan Corp. PLC. That adds up to a total value of about $7.5 billion.
Survey: 12-Month High In English Manufacturing SME Confidence
May 20, 2013 12:59 pm | by Manufacturing Advisory Service (MAS) | CommentsGrowth prospects amongst English manufacturing SMEs is at a twelve month high according to the latest Manufacturing Advisory Service (MAS) Barometer, which reveals nearly two thirds (64 percent) of companies questioned are expecting to increase sales over the next six months.
What Do We Eat? New Food Map Will Tell Us
May 20, 2013 10:45 am | by Mary Clare Jalonick, Associated Press | CommentsResearchers from the University of North Carolina at Chapel Hill are trying to change that by creating a gargantuan map of what foods Americans are buying and eating. Part of the uniqueness of the database is its ability to sort one product into what it really is — thousands of brands and variations.
U.S.: Pakistan Moves To Curb Dangerous Fertilizers
May 20, 2013 10:43 am | by Rebecca Santana, Associated Press | CommentsA top American military officer says Pakistan has taken steps to prevent fertilizers made in Pakistan from being used for roadside bombs targeting American troops in Afghanistan. Brig. Gen. Robert P. Walters Jr. spoke Monday in Islamabad on ways to counter the bombs often referred to as improvised explosive devices.
Warren Buffett Meets With Young Entrepreneurs
May 20, 2013 10:42 am | CommentsBillionaire Warren Buffett is spending his day listening to business pitches from a select group of kids, but the ideas aren't likely to generate new acquisitions for Buffett's Berkshire Hathaway. The kids, who are between 7- and 16-years-old, are all finalists in an online contest tied to Buffett's "The Secret Millionaire's Club" cartoon.
Court: Should Whistleblower Protection Be Wider?
May 20, 2013 10:40 am | CommentsThe justices on Monday agreed to hear appeals from Jackie Hosang Lawson and Jonathan M. Zang. The two of them complained of retaliation for whistleblower activities from the privately-held parent company and subsidiary companies that run the Fidelity family of mutual funds.
Silicon Valley-Area Hub Becomes Factory Town
May 20, 2013 8:28 am | by Martha Mendoza, AP National Writer | CommentsFrom Tesla Motors, making cutting-edge cars, to Solaria, making solar panels, manufacturers are drawn to Fremont by incentives including a five-year waiver on business taxes, an expedited regulatory process, proximity to Silicon Valley firms and a skilled labor force.
