Tennessee Gov. Bill Haslam argues that his state is best for business due to sound fiscal strength and investments.» Read More
MEMPHIS, Tenn.— FedEx says it will raise U.S. rates for express, ground and home-delivery shipments by an average of 4.9 percent in January. The company said Tuesday that rates also will change for FedEx SmartPost, which uses the U.S. Postal Service for final delivery, although it didn't say how much. Shares of FedEx Corp. shares rose 62 cents to close at $154.66.
MEMPHIS, Tenn.— Cargill will close its corn milling plant in Memphis, Tennessee early next year, citing its location outside of the corn belt and underutilization. The milling plant has about 440 workers, with 120 of those being contract employees. In July Cargill announced plans to close a Milwaukee beef-processing plant due to a cattle shortage.
According to the SEC, AgFeed's Chinese management kept two sets of books- a real one and a fake one to present to investors. The case has garnered some attention because the SEC also charged the company's former U.S.-based independent audit committee chairman, a rare move by the agency.
RICHMOND, Va.— Dominion Resources is planning to buy two solar projects in California. The projects in Kings, Kern and Marin counties in California would add 42 megawatts of solar power to its portfolio.
PARIS, Sept 15- Nissan boss Carlos Ghosn is preparing to cut battery manufacturing, people familiar with the matter said, in a new reversal on electric cars that has reopened deep divisions with alliance partner Renault.
JEFFERSON CITY, Mo.— A national increase in income inequality appears to be negatively affecting tax revenues in Missouri and other states, according to a new report from a credit rating agency. From the 1950 s through the 1970 s, Missouri averaged more than 9 percent annual growth.
INDIANAPOLIS— Rising income inequality in the U.S. appears to be slowing tax revenue growth in Indiana and other states, according to a new report by the credit rating agency Standard& Poor's.
ATLANTA— A new study suggests the growing share of income paid to the rich could raise the costs of a Republican proposal to replace Georgia's income tax with an expanded sales tax. As part of the study, researchers compared states more dependent on income tax collections, such as Georgia, against states more reliant on sales tax collections.
Regardless of the outcome of constitutional amendment, it's unlikely that Tennessee lawmakers would seriously consider a state income tax— which has become a toxic political issue since the last serious attempt to impose one failed in 2002 amid raucous Capitol protests that included a brick being thrown through the window of the governor's office and demonstrators banging on the doors of the Senate chamber while lawmakers sought to conduct their business within.
Treasury sold $13 billion in 30- year bonds to solid demand. "If it comes in stronger, the market will continue to ignore weak payrolls and focus on all the positive data we've seen," said Richard Gilhooly, an interest rate strategist at TD Securities in New York.
ALLENTOWN, Pa.— Eastman Chemical Co. is buying specialty chemical company Taminco for approximately $1.73 billion. Eastman Chemical said in a statement that the acquisition will strengthen Eastman Chemical's presence in markets such as food, feed and agriculture.
BOSTON— A pharmacist who worked for a Massachusetts company blamed for a nationwide meningitis outbreak that killed 64 people pleaded not guilty to a mail fraud charge Thursday as his lawyer said he is concerned he could be made a scapegoat. Glenn Adam Chin, 46, of Canton, entered his plea during a brief arraignment in federal court in Boston.
ALBANY, New York— Jazz composer Duke Ellington's grandson urged New York's highest court on Thursday to reinstate his lawsuit seeking half the foreign royalties from Ellington's music for his heirs.
Rick Snyder's administration has hired the former chief of prisons in Florida and Indiana to oversee Michigan's troubled three-year, $145 million contract with a company supplying inmates with food. Ohio also has fined Aramark for similar contract violations.
LOS ANGELES— The Nuclear Regulatory Commission on Wednesday rejected a senior federal expert's recommendation to shut down California's last operating nuclear power plant until the agency can determine whether its twin reactors can withstand powerful shaking from nearby earthquake faults.
NEW YORK— Fall used to be off-peak for tourism everywhere except New England and other fall foliage destinations. Lara Berdine and Mark Petrella, New Yorkers in their 40 s, visit Italy each fall because "it's cheaper, the weather is cooler and we can see the country as it really is, rather than in high season when it's inundated with tourists," said Berdine.
FRANKFURT, Sept 10- Volkswagen AG's global works council is backing renewed efforts by the United Auto Workers in the United States to represent workers at the German carmaker's Tennessee plant.
TORONTO, Sept 10- Jeff Lowry and his family left a sedate housing market in Tennessee last year and moved to Canada in the midst of a housing boom, where bidding wars and soaring prices were an unpleasant reminder of his American roots.
Dollar General is going hostile with its $9.1 billion bid for Family Dollar after its rival repeatedly rejected previous offers. The discount chain has commenced an open offering to investors of Family Dollar Stores Inc. for $80 per share in cash.
WASHINGTON, Sept 9- Republican leaders in the House of Representatives on Tuesday proposed extending the U.S. Export-Import Bank's charter through June 30 next year, a Republican aide said on Tuesday, granting a temporary reprieve for the export lender.