Hot Business Topics
— The meatpacking company that issued the largest U.S. meat recall ever last week could shut down, according a Saturday report in the Wall Street Journal.
U.S. Department of Agriculture recalled 143 million pounds of meat processed by Hallmark/Westland Meat Packing on Feb. 17, after it came to light that the company had […]
Filed under: online by Forest
Comments Off
The EU Commission cut its growth forecast for the euro currency zone to 1.8% this year, saying the global economy looks unusually uncertain.
Inflation will likely stay well above the recommended guideline of just under 2% with high energy and food prices pushing it to 2.6% in the euro area, it said.
The EU […]
Filed under: news by Forest
Comments Off
Profits at natural foods grocer Whole Foods Market fell 27% to $39.1 million in the most recent quarter as the cost of its acquisition of Wild Oats dragged on earnings.
The Austin-based chain reported Tuesday that it earned 28 cents per share in its first quarter, which ended Jan. 20. That compares with $53.8 million, […]
Filed under: finance by Forest
Comments Off
Attorneys for victims of the 2005 explosion at BP’s Texas City refinery contend the oil giant’s fine could be as much as $3.2 billion, dwarfing the $50 million being proposed in a plea agreement.
Attorneys said the fine should be at least $400 million.
The proposed fines were included in court documents filed by victims’ attorneys […]
Filed under: technology by Forest
Comments Off
German leaders expressed concern on Saturday that a tax evasion scandal which has put hundreds of prominent Germans in the police spotlight risked discrediting the country’s post-war economic model.
A raid on the home of Deutsche Post (DPWGn.DE: Quote, Profile, Research) Chief Executive Klaus Zumwinkel in a probe into suspected tax dodging has heightened […]
Venezuela on Wednesday vowed to defeat Exxon Mobil Corp. in a legal battle as the U.S.-based oil company seeks to freeze Venezuelan assets in the U.S. and Europe.
Speaking to a crowd of oil workers at an outdoor rally, Oil Minister Rafael Ramirez vowed to mount "a defense of the nation’s interests."
"We’re going to come […]
Filed under: marketing by Forest
Comments Off
The House and Senate on Thursday overwhelmingly approved a roughly $170 billion plan aimed at spurring the economy by sending rebate checks to millions of taxpayers, offering tax breaks to businesses and trying to ease the home lending crunch.
The bill would give one-time rebates to 117 million low- and middle-income households, 20 million senior […]
Bond insurer MBIA Inc., which has been trying to raise capital to maintain its crucial "AAA" financial strength rating, said Thursday it has boosted the size of a public stock offering to $1 billion from the $750 million it announced one day earlier.
MBIA (MBI) said it priced the offering of 82.3 million shares at […]
Filed under: marketing, technology by Forest
Comments Off
Chancellor of the Exchequer Alistair Darling, brushing aside suggestions he act to curb the Treasury's budget deficit, said the U.K. government has the flexibility to support Bank of England efforts to stimulate the economy.
Darling said he will use his annual budget statement on March 12 to “raise growth'' and to “ensure the […]
Filed under: legal by Forest
Comments Off
Consumer products maker Procter & Gamble Co. said Thursday its fiscal second-quarter earnings rose 14% as strong sales growth and cost-cutting measures more than offset higher commodity costs, and the company raised its outlook for the full year.
P&G also said it will separate its coffee business into an independent company. Cincinnati-based Folgers Coffee Co., […]
Filed under: technology by Forest
Comments Off