Beef Products Inc reopens plant as ‘pink slime’ lawsuit proceeds
CHICAGO (Reuters) – Beef Products Inc will reopen a Kansas processing plant on Monday to boost production of “lean finely textured beef,” which critics call “pink slime,” as wholesale beef prices soar with a shrinking U.S. cattle herd.The reopening of …
U.S. anti-coal dominoes hit BRICS wall, other skeptics
WASHINGTON (Reuters) – A year ago, U.S. President Barack Obama sought to mobilize the nation behind a grand plan: fight climate change by slashing carbon pollution at home, while prodding other countries to follow.
Alibaba overhauls pact with Alipay parent, sells SME loan business
SAN FRANCISCO (Reuters) – Alibaba Group Holding Ltd overhauled its pact with the parent of its payments affiliate Alipay, boosting the Chinese e-commerce giant’s potential gain if Alipay is sold or goes public, according to an amended Alibaba filing on…
Wall St. slips after two-day rally; energy shares drop
NEW YORK (Reuters) – U.S. stocks ended lower on Tuesday, snapping a two-day rally as energy shares tumbled on sliding oil prices. The pullback occurred on light volume typical of mid-August.
Target says supply chain ‘reset’ will help fix Canada woes
TORONTO (Reuters) – Target Corp is repairing the supply chain problems it holds largely responsible for last year’s botched Canadian expansion and expects to show measurable progress on a turnaround by this fall, its top executive in Canada said on Tue…
Former hedge fund managers agree to plead guilty to fraud
BOSTON (Reuters) – Two former hedge fund managers who boasted Ivy League credentials and invested some of their clients’ money with swindlers Bernard Madoff and Thomas Petters, agreed to plead guilty to criminal charges that they lied about their inves…
Atlantic City’s struggling Revel Casino to close by next month
(Reuters) – The bankrupt Revel Casino Hotel in Atlantic City is set to close by Sept. 10 after its owner failed to find a buyer for the 1,400-room resort, marking the latest casualty for the struggling New Jersey gambling center.
Boeing-Sikorsky team, Bell selected for U.S. helicopter program
(Reuters) – A team of Boeing Co and Sikorsky Aircraft Corp and Textron Inc’s Bell Helicopter have been selected to build prototypes of a multi-role vertical-lift aircraft as part of the U.S. Army’s plan to replace thousands of helicopters.
Yellen resolved to avoid raising rates too soon, fearing downturn
WASHINGTON/NEW YORK (Reuters) – Approaching a historic turn in U.S. monetary policy, Janet Yellen has staked her tenure as chair of the Federal Reserve on a simple principle: she’d rather fight inflation than another economic downturn.
INSIGHT: Yellen resolved to avoid raising rates too soon, fearing downturn
WASHINGTON/NEW YORK (Reuters) – Approaching a historic turn in U.S. monetary policy, Janet Yellen has staked her tenure as chair of the Federal Reserve on a simple principle: she’d rather fight inflation than another economic downturn.
