Top News & Analysis Mississippi

  • President-elect Donald Trump warned German car companies he would impose a border tax of 35 percent on vehicles imported to the U.S. market from Mexico, singling out luxury carmaker BMW for criticism following previous broadsides aimed at General Motors, Ford and Toyota. Mexico accounts for a fifth of all vehicle production in North America and has attracted...

  • NEW YORK, Jan 13- Moody's Corp has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Friday. The credit rating agency reached the deal with the Justice Department, 21 states and the District of Columbia,...

  • NEW YORK— Moody's Corp. has agreed to pay nearly $864 million to settle federal and state claims it gave inflated ratings to risky mortgage investments in the years leading up to the financial crisis. Moody's— along with the other two major rating agencies, Standard& Poor's and Fitch— were widely criticized for giving low-risk ratings to the risky mortgage...

  • GreenTech Automotive laid off at least some of its 75 employees at its Tunica County plant this week. GreenTech missed the initial deadline for the first payment on its $3 million loan from Mississippi, but eventually scraped up $150,000 in November, four months late. Besides the $3 million loan, Mississippi loaned Tunica County $1.9 million to buy the site and...

  • JACKSON, Miss.— Mississippi Power Co. says its Kemper County power plant will be delayed another month. Of the nearly $52 million increase caused by the delay, the unit of Atlanta- based Southern Co. says shareholders will pay $34 million. Mississippi Power had already warned that completing the plant was likely to push past the previous Dec. 31 deadline.

  • WASHINGTON— Citing increasingly sophisticated cyber bad actors and an election infrastructure that's "vital to our national interests," Homeland Security Secretary Jeh Johnson announced Friday that he's designating U.S. election systems critical infrastructure, a move that provides more federal help for state and local governments to keep their...

  • On Thursday he took on Toyota, warning the world's largest automaker that it would face a "big border tax" if it exported Mexico- built cars to the U.S. market. Nissan built its first overseas plant in Mexico in 50 years ago and now produces more than 800,000 cars there, mainly its entry-level Versa and Sentra sedans. Nissan's production dwarfs that of Toyota, Honda...

  • On Thursday he took on Toyota, warning the world's largest automaker that it would face a "big border tax" if it exported Mexico- built cars to the U.S. market. Nissan built its first overseas plant in Mexico in 50 years ago and now produces more than 800,000 cars there, mainly its entry-level Versa and Sentra sedans. Nissan's production dwarfs that of Toyota, Honda...

  • DETROIT— President-elect Donald Trump has trained his sights on Toyota in his latest effort to badger a company into building its products in the U.S. rather than Mexico. The threat echoed those targeted at Ford Motor Co. and General Motors Co. Trump has repeatedly threatened Ford with a 35 percent tax on small cars made in Mexico, and this week he called out GM for...

  • WASHINGTON, Dec 14- The U.S. government should keep banks from cutting off the accounts of vendors who work with state-sanctioned marijuana businesses, 10 U.S. senators said in a letter to the Treasury on Wednesday. That nervousness has spread to landlords, security guards, chemists, lawyers and other vendors working with marijuana businesses, according to the...

  • WASHINGTON, Dec 6- The Supreme Court on Tuesday handed a victory to two whistleblower sisters by upholding a jury verdict that found State Farm defrauded the U.S. government when the insurance company assessed damage caused by Hurricane Katrina along the Gulf of Mexico coast in 2005.. The court ruled 8-0 to reject State Farm's challenge to a 2015 lower court...

  • WASHINGTON, Dec 6- The Supreme Court on Tuesday upheld a jury verdict that found State Farm defrauded the U.S. government when the insurance company assessed damage caused by Hurricane Katrina along the Gulf of Mexico coast in 2005.. The court ruled 8-0 in rejecting State Farm's challenge to a 2015 lower court ruling upholding the verdict in a 2006 lawsuit...

  • *Toyota, Nissan raise SUV imports from Japan to North America. TOKYO/ MARYSVILLE, Nov 11- Japan's top automakers are shuffling their U.S. product portfolios and resorting to larger imports of popular models there as they scramble to meet booming demand for gas-guzzling SUVs and trucks in the world's No. 2 auto market. Honda Motor Co, Japan's third-largest...

  • WASHINGTON, Nov 1- The Supreme Court on Tuesday appeared unlikely to throw out a jury verdict against State Farm that found the insurance company defrauded the U.S. government when it assessed damage caused by Hurricane Katrina along the Gulf of Mexico coast in 2005.. State Farm argued the claims brought by the sisters, former claims adjusters who worked for the...

  • Oct 18- The U.S. government will impose new federal rules to reduce the risk of leaks at natural gas storage facilities in the wake of last year's massive methane release at California's Aliso Canyon, a task force said on Tuesday. Operators should phase out "single point of failure" designs, which hindered the ability to swiftly control and repair the leak at Aliso...

  • SAN JUAN, Puerto Rico, Oct 11- Seven-year-old Luis Crespo Garcia can't run or ride a bike or do many other things most children take for granted. She said Luis's regular doctors told her that if she didn't want to wait a year and a half to see the specialist, the family had an unorthodox option: move to the mainland United States. Karen Garcia quit her restaurant job to...

  • The German automaker's U.S. subsidiary earlier this month brought a case in a Washington, D.C.- based federal appeals court seeking to overturn a vote by a group of skilled trade workers at its Chattanooga, Tennessee, assembly plant to join the United Auto Workers. "This makes it almost inevitable that any union target will eventually be organized," said David...

  • SAN FRANCISCO, Sept 22- Wall Street will closely watch Cal-Maine Foods' quarterly report on Monday as the largest U.S. egg producer struggles with too much production and uncertainty about consumer demand for cage-free eggs. The Jackson, Mississippi- based company has been targeted by short sellers since 2015, when avian flu ravaged U.S. flocks and producers...

  • Colonial shut its main gasoline and distillate lines that run from the Gulf Coast to the East Coast on Sept. 9 after a leak was discovered in Shelby County, Alabama. Meanwhile, retail prices continued to spike on Saturday, according to motorists' advocacy group AAA, and states, including Tennessee and North Carolina, joined others in temporarily waiving rules...

  • CHICAGO, Sept 14- Package delivery company United Parcel Service Inc said on Wednesday it plans to hire around 95,000 seasonal employees for its crucial peak holiday season this year, unchanged from the past two years as improvements to its network should help it handle rising ecommerce volumes. "We're always looking for how we can improve efficiencies as a...