c.2013 New York Times News Service
c.2013 New York Times News Service
U.S. WARNS ABOUT SALMONELLA BELIEVED TO BE LINKED TO A POULTRY FARM
The Agriculture Department issued a public health alert this week, saying that a strain of salmonella may have sickened 278 people who reported becoming ill after they ate poultry produced by Foster Farms. The Food Safety Inspection Service, which issued the alert Monday, said that the raw meats “in question” were being sold in packages bearing the codes P6137, P6137A and P7632, which are the listings for the Foster Farms plants in which the products were processed. Almost 80 percent of those affected were in California, said Dr. David P. Goldman, assistant administrator of the Office of Public Health Science at the service.
STALEMATE WORRY JOLTS THE MARKET FOR TREASURY BILLS
The political impasse over the debt ceiling roiled a closely watched corner of the bond market Tuesday, pushing up the price the government paid to borrow money for a month to its highest level since 2008, more than doubling from just a day earlier. Investors who lend the government money are demanding higher rates, because they are increasingly worried that it will not be able to make good on its debt after Oct. 17. The Treasury Department has said that it will run out of room to borrow more money that day and may be unable to pay some of its bills unless Congress agrees to lift the debt ceiling.
OBAMA TO NOMINATE JANET L. YELLEN AS FED CHAIRWOMAN
President Barack Obama will nominate Janet L. Yellen as chairwoman of the Federal Reserve on Wednesday, administration officials said Tuesday night, ending an unusually public search to fill one of the most important economic policy-making jobs in the world. Obama’s first choice for the job — Lawrence H. Summers, a former adviser to the president — dropped out of the running Sept. 15 in the face of opposition from Democratic senators. Yellen, 67, who has been the Fed’s vice chairwoman since 2010, would be the first woman to run the central bank.
SAC IS SAID TO CONSIDER PLEA DEAL TO END CASE
After months of fighting the government’s insider trading case tooth and nail, the hedge fund SAC Capital Advisors is leaning toward admitting criminal wrongdoing and agreeing to pay a record financial penalty to resolve the charges, according to two people briefed on the deliberations. Federal prosecutors, led by Preet Bharara, the U.S. attorney in New York, have taken an aggressive stance in settlement talks with SAC, said these people, who were not authorized to discuss the negotiations publicly. Prosecutors have offered the fund a deal to resolve the case by pleading guilty and paying a penalty of about $2 billion.
STARBUCKS AIMS TO MOVE BEYOND BEANS
In a suburb due east of Los Angeles, Starbucks is opening a $70 million, state-of-the-art plant that will produce cold-pressed juices. The factory is the latest investment that underscores Starbucks’ determination to transform its brand from being synonymous with coffee to a food and beverage juggernaut. In the last two years, Starbucks has spent $750 million acquiring three new businesses — Evolution Fresh juices, La Boulange Café and Bakery, and Teavana — as it tries to muscle in on prized grocery shelves and compete in territory now dominated by the likes of Panera Bread and Chipotle. “We have a lot going on,” said Howard Schultz, the chief executive.
‘NEWSHOUR’ EX-ANCHORS TO CEDE OWNERSHIP
Jim Lehrer and Robert MacNeil have been closely linked with the “PBS NewsHour” since the show’s beginnings in 1975, for many years as its co-anchors and, since 1981, as the show’s owners and co-producers through MacNeil/Lehrer Productions. Now, their production company has decided to give up its ownership stake in the program, after struggling in recent years to raise enough funds to keep it going. In an internal letter sent to the staff Tuesday, Lehrer and MacNeil said they were talking with the Washington public television station WETA, the program’s co-producer, about taking over ownership of the nonprofit program, which is produced under contract for PBS.
GOVERNMENT UPHOLDS BAN ON SOME SAMSUNG PRODUCTS IN PATENT DISPUTE
In another blow to Samsung Electronics in its continuing patent disputes with Apple, the Obama administration has decided to uphold a ban requested by Apple of some of Samsung’s mobile products. Michael Froman, the U.S. trade representative, said in a statement that he had decided to allow the ban to proceed after “weighing policy considerations, including the impact on consumers and competition, advice from agencies and information from interested parties.” The ban, which was ordered by the International Trade Commission, was issued in August after the agency determined that Samsung had violated two Apple patents. The Obama administration could have vetoed the ruling, as it did in August with a ban ordered on Apple’s products.
IMF CUTS FORECASTS FOR GLOBAL EXPANSION
Emerging economies have cooled off. Europe remains in the doldrums. The United States is facing fiscal uncertainty, and its powerful central bank is contemplating easing up on its extraordinary stimulus efforts, with potentially global ramifications. As a result, global growth is in “low gear,” the International Monetary Fund said in its latest economic forecasts, released Tuesday as the world’s central bankers and finance ministers gather in Washington for the fund’s annual meetings. The IMF, the Washington-based lending institution, cut its forecasts for global growth, as it has done in nine of its last 10 economic updates.