Financial
South Africa: Mandela's will worth $4.1 million PDF  | Print |  E-mail
Written by Associated Press   
Monday, 03 February 2014 08:55

JOHANNESBURG (AP) — The executors of Nelson Mandela's estate say he left behind about $4.1 million and that the will's beneficiaries include his family, members of his staff, schools that he attended and the African National Congress, the liberation movement during white rule that now governs South Africa.

Executor Dikgang Moseneke also said Monday that he is not aware of any challenges to the provisions of the will of the anti-apartheid leader who became South Africa's first black president. Mandela died Dec. 5 at age 95.

Moseneke told journalists that the will was read out to family members earlier Monday. He outlined a "provisional inventory" of 46 million South African rand, or $4.1 million, plus additional amounts, but cautioned the amount could change as the will is studied more carefully.


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California farmers brace for drought, unemployment PDF  | Print |  E-mail
Written by SCOTT SMITH, Associated Press   
Monday, 03 February 2014 07:30

MENDOTA, Calif. (AP) — Amid California's driest year on record, the nation's leading agricultural region is locked in drought and bracing for unemployment to soar, sending farm workers to food lines in a place famous for its abundance.

One-third of the Central Valley's jobs are related to farming. Strains on water supplies are expected to force farmers to leave fields unplanted, creating a ripple effect on food processing plant workers, truck drivers and those who sell fertilizer, irrigation equipment and tractors.

No place may be harder hit than Mendota, a small farm town where unemployment rose above 40 percent at the height of the economic recession in 2009, also a dry year. Mayor Robert Silva said he fears this year could be even worse.

"We're supposed to be the cantaloupe capital of the world," Silva said. "But we're the food line capital of the world."

Residents of Mendota late last year began seeing tough times on the horizon when little rain fell in the valley and snow didn't blanket the High Sierra. This marks the third consecutive dry year for California, and Gov. Jerry Brown has declared a drought emergency.

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Post buying PowerBar, Musashi brands from Nestle PDF  | Print |  E-mail
Written by Associated Press   
Monday, 03 February 2014 08:53

ST. LOUIS (AP) — Post Holdings Inc. is buying the PowerBar and Musashi brands from Nestle SA, further diversifying its business by expanding into the active nutrition category.

Financial terms were not immediately disclosed.

The PowerBar and Musashi brands make premium bars, powders and gels. Musashi is a leading sports nutrition brand in Australia.

The transaction also includes other related worldwide assets.

Post expects to combine the PowerBar and Musashi brands with its current active nutrition portfolio to create an active nutrition group with anticipated annual revenue of nearly $550 million. The PowerBar and Musashi brands will join with Post-owned Premier Nutrition's Premier Protein and Joint Juice brands and Dymatize Enterprises' Dymatize and Supreme brands.

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Consul: Canada to buy Detroit land for new bridge PDF  | Print |  E-mail
Written by Associated Press   
Monday, 03 February 2014 07:28

DETROIT (AP) — The Canadian government plans to start buying land in Detroit for the U.S. portion of a new bridge linking the nations, a Canadian official said in a report published Sunday, a move that bypasses opponents of the project and comes as the U.S. government hasn't yet allocated money.

The $2 billion-plus project to add a second span across the Detroit River between Detroit and Windsor, Ontario, is simply too important to delay, outgoing Canadian Consul General Roy Norton in Detroit told the Detroit Free Press (http://on.freep.com/1eiSeKP ).

Canada is paying most of the project's cost on both sides of the border. It plans to recoup the cost with tolls traveling in both directions. Officials have said they hope to open the New International Trade Crossing in 2020.

"We're about to proceed with land purchases some time in the next few months, and we're going to do that whether there's been an indication from the U.S. government on a commitment to the customs plaza or not," Norton said. "That involves a little bit of risk on our part, obviously, but we're so confident that this ultimately will be built that it's prudent to do that."

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