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Surging China, stronger Europe boost Mercedes PDF  | Print |  E-mail
Written by Associated Press   
Friday, 04 April 2014 06:40

BERLIN (AP) — Daimler AG says surging demand in China along with a stronger performance in Europe helped propel its luxury Mercedes-Benz brand to record monthly sales figures in March.

Daimler said Friday that it sold 158,523 Mercedes cars last month — a 13.3-percent increase from a year earlier. Deliveries in China were up 34 percent at 24,937 while Japanese sales surged 39.5 percent to 8,690.

Mercedes sold 7.6 percent more cars in Europe, delivering 76,587 vehicles — helped by a 19.8-percent rise in British sales. U.S. sales climbed 11.2 percent to 27,401.

In the first quarter, Mercedes sold 374,276 cars worldwide — an increase of 15.2 percent.


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Reports: Paula Deen restaurant closes PDF  | Print |  E-mail
Written by Associated Press   
Friday, 04 April 2014 06:18

SAVANNAH, Ga. (AP) — A wildly popular Georgia restaurant at the center of a lawsuit that left the reputation of famed Southern celebrity cook Paula Deen in shambles has reportedly closed.

Uncle Bubba's Seafood & Oyster House announced the closure Thursday on its Facebook page, The Savannah Morning News (http://bit.ly/1owsS1s) and WSAV television (http://bit.ly/1gseldc) reported.

"Thank you for 10 great years. Uncle Bubba's is now closed," the Facebook message said.

Deen's brother, restaurant operator Bubba Hiers, decided to shut the eatery's doors "in order to explore development options for the waterfront property on which the restaurant is located," the reports said, quoting a statement from the Key Group public relations and marketing company. "At this point, no specific plans have been announced," the statement said.

The closure was effective as of Thursday, and employees will be provided with severance pay and assistance looking for new jobs, the statement said.

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Edison bosses sell $18M in stock after rate deal PDF  | Print |  E-mail
Written by MICHAEL R. BLOOD, Associated Press   
Friday, 04 April 2014 06:19

LOS ANGELES (AP) — Two top executives at Edison International sold $17.7 million of their company's stock when it climbed to its highest price since 2007, after Edison reached a major settlement involving the defunct San Onofre nuclear power plant in Southern California, regulatory filings show.

On March 31, Chairman Ted Craver exercised stock options held since 2005 and sold 172,644 shares for an average of $56 each, according to federal regulatory filings Wednesday. He profited by about $4.1 million from the option price of roughly $32 per share, according to Edison.

On the same day, Chief Financial Officer James Scilacci sold 143,438 shares at an average of $56, a transaction that netted him $4.3 million, Edison said. He exercised options that were granted in 2005 and 2009 at prices of $25 and $32 per share.

On March 27, Edison, the majority owner of San Onofre, announced a proposed agreement with minority owner San Diego Gas & Electric Co. and consumer advocates to end a long-running dispute over who gets the bill for the shuttered nuclear plant, which was closed permanently last year.

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U.S. reaches $5.15 billion environmental settlement PDF  | Print |  E-mail
Written by DINA CAPPIELLO, Associated Press ERIC TUCKER, Associated Press   
Friday, 04 April 2014 06:13

WASHINGTON (AP) — The federal government on Thursday reached a $5.15 billion settlement with Anadarko Petroleum Corp., the largest ever for environmental contamination, to settle claims related to the cleanup of thousands of sites tainted with hazardous chemicals for decades.

The bulk of the money — $4.4 billion — will pay for environmental cleanup and be used to settle claims stemming from the legacy contamination.

The settlement resolves a legal battle over Tronox Inc., a spinoff of Kerr-McGee Corp., a company Anadarko acquired in 2006.

The Justice Department said Kerr-McGee, founded in 1929, left behind a long legacy of environmental contamination: polluting Lake Mead in Nevada with rocket fuel, leaving behind radioactive waste piles throughout the territory of the Navajo Nation, and dumping carcinogenic creosote in communities throughout the East, Midwest and South at its wood-treating facilities.

The company, rather than pay for the environmental mess it created, decided to shift the liabilities between 2002 and 2006 into Tronox, the Justuce Department said, while Kerr-McGee kept its valuable oil and gas assets.

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