Financial
Irwindale spicing up suit against Sriracha plant PDF  | Print |  E-mail
Written by Associated Press   
Saturday, 01 February 2014 06:13

IRWINDALE, Calif. (AP) — A Los Angeles suburb is spicing up its lawsuit against a hot-sauce manufacturer it claims polluted the air with pungent smells.

Stephen Onstot, an attorney representing Irwindale, tells City News Service that the small industrial city east of Los Angeles will add a breach-of-contract claim to its existing nuisance suit against the Sriracha plant.

Onstot says the city will allege that owner Huy Fong Foods failed to comply with certain operating conditions, including not emitting foul odors.

Defense attorney John Tate told a judge Friday that he didn't object to the modification.

Irwindale sued the company in October after nearby residents alleged that plant odors were causing asthma and other health problems.

A judge has ordered the company to stop any operations that might be causing the odors.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Wal-Mart lowers 4Q, full-year profit expectations PDF  | Print |  E-mail
Written by Associated Press   
Friday, 31 January 2014 15:31

BENTONVILLE, Ark. (AP) — Wal-Mart said Friday that key earnings figures may come in at the low end or below its prior forecasts for its fourth quarter and full fiscal year. It also said a widely-watched sales metric for the fourth quarter which includes the holiday season will be lower than its previous forecast.

The news initially sent Wal-Mart shares lower but they were up by early afternoon.

The world's biggest retailer said the lower earnings outlook reflect accounting for some Brazil-related charges and other items. Chief Financial Officer Charles Holley said in a statement that these items were not anticipated when Wal-Mart previously provided its forecasts.

The lowered outlook for sales at stores open at least a year was due in part to eight winter storms that resulted in some store closings, Holley said. He added that its Sam's Club locations were hurt by weather throughout the quarter.

Read more...
 
Stock investors hit from all sides in January PDF  | Print |  E-mail
Written by KEN SWEET, AP Markets Writer   
Saturday, 01 February 2014 06:03

NEW YORK (AP) — Stock investors were hit from all sides in January.

Concerns about the global economy and U.S. company earnings, as well as turmoil in emerging markets, led the Dow Jones industrial average to its worst start since 2009. However, many investors remain hopeful that the problems will not spill over into the rest of 2014.

They even see the downturn as healthy, given the U.S. market's rapid rise last year.

The Dow slid 5.3 percent in January while the Standard & Poor's 500 index fell 3.6 percent and the Nasdaq composite declined 1.7 percent.

Investors entered the year with some degree of skepticism and nervousness. The stock market went basically straight up in 2013. The S&P 500 index ended 2013 with a gain of nearly 30 percent, its best year since 1997.

"No amount of negative news could derail the market last year," said Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridian Equity Partners.

Read more...
 
Catholic diocese in Montana files for bankruptcy protection PDF  | Print |  E-mail
Written by MATT VOLZ, Associated Press   
Friday, 31 January 2014 11:27

HELENA, Mont. (AP) — The Roman Catholic Diocese of Helena, Mont., is filing for bankruptcy protection amid lawsuits that claim clergy members abused 362 children over decades.

Diocese spokesman Dan Bartleson said in a statement Friday the Chapter 11 bankruptcy reorganization case will help resolve the abuse claims.

The diocese covers western Montana and employs about 200 people.

The two lawsuits filed in 2011 claim clergy members abused the children from the 1930s to the 1970s. They claim the diocese shielded the offenders and knew or should have known the threat they posed.

The plaintiffs, the diocese and the Ursuline Sisters of the Western Province held three mediation sessions, but the talks faltered with challenges by the church's insurers over the claims they must cover.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
<< Start < Prev 121 122 123 124 125 126 127 128 129 130 Next > End >>

Page 126 of 214