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  • Dow Chemical, Olin in $5B cash-and-stock deal
    27 March
    MIDLAND, Mich. (AP) - Dow Chemical is breaking off a significant portion of its chlorine operations in a deal valued at $5 billion. Dow has been under pressure from the hedge fund Third Point LLC to split its specialty chemical and petrochemical businesses. The company…
  • Fewer Americans filed for unemployment benefits last week
    26 March
    WASHINGTON (AP) - Fewer people sought U.S. unemployment benefits last week, evidence that strong hiring should continue despite signs of slower economic growth at the start of 2015. The Labor Department says weekly applications for jobless aid fell 9,000 to a seasonally adjusted 282,000. The…
  • PepsiCo CEO Indra Nooyi paid $19.1 million in 2014
    26 March
    NEW YORK (AP) - PepsiCo CEO Indra Nooyi was given a pay package worth $19.1 million in 2014 after the snack-and-beverage maker said it met or beat its own financial targets for the year. The compensation for Nooyi represents a 45 percent jump from the…
  • Average U.S. rate on 30-year mortgage falls to 3.69 percent
    26 March
    WASHINGTON (AP) - Average long-term U.S. mortgage rates fell this week for a second straight week, edging closer to historically low levels at the start of the spring home-buying season. Mortgage giant Freddie Mac says the national average for a 30-year fixed-rate mortgage declined to…
  • Auto workers president rejects lower-tier of wages
    25 March
    DETROIT (AP) - The leader of the United Auto Workers union has rejected a third tier of lower wages for members who make auto parts. Speaking at the union's bargaining convention in Detroit, President Dennis Williams said the UAW already has too many tiers of…
  • Feds to investigating safety of Lumber Liquidators flooring
    25 March
    RICHMOND, Va. (AP) - The U.S. Consumer Product Safety Commission is investigating the safety Lumber Liquidators laminate flooring made in China. Chairman Elliot F. Kaye said Wednesday the agency is taking the issue seriously and is working to get answers for consumers. The move comes…
  • Obama: Base health care payments on quality, not quantity
    25 March
    WASHINGTON (AP) - President Barack Obama says he's ready to sign bipartisan legislation to fix Medicare's doctor payment problem. Obama says he's got his pen "ready to sign a good bipartisan bill." Without a fix, doctors face a 21 percent cut in Medicare fees. It's…
  • Detroit area gets new data center; opening event planned
    24 March
    SOUTHFIELD, Mich. (AP) - A new data center is opening in suburban Detroit. An event is planned for Wednesday morning to mark the opening of the facility in Southfield. TelNet Worldwide has partnered with EdgeConneX on the effort. Officials from TelNet Worldwide and EdgeConneX are…
  • Higher gas costs lifts U.S. consumer prices 0.2 percent
    24 March
    WASHINGTON (AP) - A modest rebound in gas costs and broad gains in other categories lifted consumer prices for the first time in four months, a sign inflation may be stabilizing. The Labor Department says the consumer price index rose 0.2 percent in February after…
  • U.S. home sales rebound slightly in February
    23 March
    WASHINGTON (AP) - U.S. home sales picked up slightly in February but remain sluggish due to tight inventories, affordability problems and nasty winter weather. The National Association of Realtors says sales of existing homes rose 1.2 percent last month to a seasonally adjusted annual rate…
  • Judge rules shale gas pipeline can cross holdout properties
    20 March
    SCRANTON, Pa. (AP) - The companies backing a 124-mile pipeline designed to ferry cheap Marcellus Shale natural gas to New York and New England can build across seven northeastern Pennsylvania properties whose owners had not agreed to it. U.S. District Judge Malachy Mannion has ruled…
  • Amazon gets FAA certificate to experiment with drones
    20 March
    NEW YORK (AP) - The Federal Aviation Administration says it has issued online retailer Amazon a certificate to experiment with unmanned aircraft for research, development and crew training. The FAA said Thursday that under the provisions of the certificate, the flights must be conducted at…
  • Monsanto to pay $350K to settle more wheat-related lawsuits
    19 March
    NEW YORK (AP) - Monsanto says it will pay about $350,000 to settle class action lawsuits brought by farmers in seven states over genetically modified wheat. The St. Louis company said Wednesday it will make donations of $50,000 to agricultural schools at land grant colleges…
  • Meijer offers $10 coupon after credit card system failures
    19 March
    GRAND RAPIDS, Mich. (AP) - Retail chain Meijer is apologizing and offering customers a $10 coupon following two credit and debit card system failures. The Grand Rapids Press reports the coupon must be used Friday or Saturday and is good as long as shoppers spend…
  • Agriculture summit connects growers, processors, buyers
    18 March
    GRAND RAPIDS, Mich. (AP) - An agriculture summit in western Michigan aims to connect growers, processors, grocers and institutional buyers. The Pure Michigan Agriculture Summit takes place Thursday at DeVos Place Convention Center in Grand Rapids. The event is hosted by Pure Michigan Business Connect,…
  • Vote planned on Michigan bill allowing evictions by email
    18 March
    LANSING, Mich. (AP) - Michigan lawmakers are considering legislation that would let landlords email eviction notices to tenants or notify them via social media. State law says landlords must deliver eviction notices in writing, either on site or by mail. The bill scheduled for a…
  • GOP weighs increase in war funds to skirt Pentagon limits
    17 March
    WASHINGTON (AP) - House Republicans are considering adding tens of billions of dollars to President Barack Obama's request for overseas military operations in an effort to get around tight limits on Pentagon spending. Obama requested $51 billion for military operations in Afghanistan, Iraq and elsewhere,…
  • U.S. home construction plunges 17 percent in February
    17 March
    WASHINGTON (AP) - Construction of new homes plummeted in February, as fierce winter weather froze housing starts in the Northeast and Midwest. The Commerce Department says builders started construction at a seasonally adjusted annual rate of 897,000 homes in February, a steep 17 percent plunge…
  • Truck strikes empty Southwest jet at Boston's Logan airport
    16 March
    BOSTON (AP) - A pickup truck has struck an empty Southwest jet parked at Boston's Logan International Airport, but no injuries have been reported. An airport spokeswoman says the truck made contact with the jet early Monday. The jet was empty and parked at a…
  • GE sells 'down-under' finance business in $6.3 billion deal
    16 March
    General Electric is selling another segment of its financial business, transferring its GE Capital consumer-lending operation in Australia and New Zealand to a group of investors in a deal valued at roughly $6.3 billion. Buyers include Varde Partners, a global investment firm based in Minneapolis,…
  • New bird flu strain has poultry farmers scrambling
    16 March
    MINNEAPOLIS (AP) - A dangerous new bird flu strain has affected turkey flocks in Minnesota, Missouri and Arkansas. That's sending experts and farmers scrambling to determine how it arrived - and to stop it from spreading. Avian influenza is common in wild waterfowl and doesn't…
  • Feds move to stop fishing crimes by tracking seafood imports
    16 March
    BOSTON (AP) - In an effort to eradicate illegal fishing and seafood fraud, the Obama Administration is launching a fish tracking system that would eventually tell consumers where their fish was caught, processed and stored. U.S. Deputy Secretary of Commerce Bruce Andrews announced the initiative…
  • U.S. wholesale prices down for fourth straight month
    13 March
    WASHINGTON (AP) - Wholesale prices fell for a fourth straight month in February as a decline in food prices offset an increase in gasoline prices. The Labor Department says its producer price index, which measures inflation pressures before they reach consumers, dropped 0.5 percent in…
  • Snyder wants 30-40 percent power from renewables, efficiency
    13 March
    WARREN, Mich. (AP) - Gov. Rick Snyder is calling on lawmakers to update Michigan's energy law to increase energy-efficiency efforts and the use of power sources such as wind and natural gas. The Republican governor said Friday the electricity mix can be 30 to 40…
  • Fake IRS agents target more than 366,000 in huge tax scam
    12 March
    WASHINGTON (AP) - A federal investigator says fake IRS agents have targeted more than 366,000 people with harassing phone calls demanding payments and threatening jail time as part of a huge nationwide scam. A deputy inspector general for the agency says more than 3,000 people…