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Specialty chemicals maker Albemarle Corp. said Thursday it has opened a new Asia-Pacific shared services center in Dalian, China. Albemarle also announced it will manufacture its latest eco-friendly flame retardant at the company’s plant in Orangeburg, S.C. The new product is called GreenCrest and will … Continue reading →
The Times-Picayune, the state’s largest newspaper, announced Thursday it will soon become a three-day-a-week printed publication rather than daily as it moves much of its content online. The move, slated for some time this fall, would make New Orleans the largest city in the country without a daily printed newspaper, the Poynter Institute, a journalism think-tank, … Continue reading →
WASHINGTON — The number of people seeking unemployment benefits changed little last week, signaling modest job growth. The Labor Department said Thursday that weekly applications for benefits dipped by 2,000 to a seasonally adjusted 370,000. Separately, the Commerce Department reported that orders for long-lasting factory goods edged up slightly in April. But that was … Continue reading →
LAFITTE — Gloom infects the hard-working shrimp and crab docks of this fishing town as the second full year of fishing since BP’s oil catastrophe kicks into high gear. Usually folks are upbeat and busy in May, when shrimpers get back to work in Louisiana’s rich waters. This spring, though, catches are down, docks are … Continue reading →
NEW YORK — Hewlett-Packard helped pull the Dow Jones industrial average to a slight gain Thursday, giving the index only its fourth gain this month. Stocks flipped between gains and losses throughout the day after a meeting of European leaders failed to deliver new steps to ease the region’s debt crisis. The Dow closed … Continue reading →
WASHINGTON — Food stamp recipients are ripping off the government for millions of dollars by illegally selling their benefit cards for cash — sometimes even in the open, on eBay or Craigslist — and then asking the government for replacement cards. The Agriculture Department wants to curb the practice by giving states more power … Continue reading →
The Louisiana Used Motor Vehicle Commission fined a local car dealer $38,900 and revoked his license for allegedly breaking seven laws, including fraud, taking too long to give the customer the vehicle’s title, and illegally issuing temporary or dealer’s plates. Consumer complaints prompted the investigation of Value Import Inc. on Florida Boulevard and owner Mohammed Ibrahim, commission … Continue reading →
NEW YORK (AP) -- Hewlett-Packard helped pull the Dow Jones industrial average to a slight gain Thursday, giving the index only its fourth gain this month. Stocks flipped between gains and losses throughout the day after a meeting of European leaders failed to deliver new steps to ease the region’s debt crisis. The Dow closed up … Continue reading →
Houston-based Cheniere Energy Partners L.P. will meet with bankers Tuesday to borrow $2 billion, most of which will go to build a natural gas liquefaction and export facility in Cameron Parish. Cheniere said it plans to use around $1.3 billion for the Sabine Pass liquefaction plant. Cheniere Partners will use $750 million to acquire the Creole Trail … Continue reading →
An Independence shrimp processing plant has been charged with mislabeling more than $100,000 worth of Mexican-caught shrimp as U.S. products, U.S. Attorney Jim Letten said Tuesday. DoRan Sea-Pak of Independence and distributor Worldwide Shrimp Co., of Highland Park, Ill., operated a business partnership between November 2007 and December 2008, wherein Worldwide would send the shrimp to DoRan … Continue reading →
WASHINGTON — Americans bought more new homes last month, the latest evidence that the U.S. housing market could be starting to recover. New-home sales increased 3.3 percent in April from March to a seasonally adjusted annual rate of 343,000, the Commerce Department said Wednesday. Sales rose sharply in every region of the country but the … Continue reading →
NEW YORK — A big final-hour comeback pulled the Dow Jones industrial average nearly back to where it started Wednesday. The Dow was down as much as 191 points earlier as the threat of a financial crisis spreading from Europe shook markets. The euro dropped to a nearly two-year low against the dollar, and oil … Continue reading →
Louisiana Citizens Property Insurance Corp. will raise rates for wind-only policies an average of 58 percent following the failure Wednesday of state Treasurer John Kennedy’s alternative proposal for an increase of 12 percent. During a special Citizens board meeting, Kennedy claimed the state-backed insurer of last resort had broken the law in calculating rates for the wind-only policies, which … Continue reading →
Large and small businesses in Louisiana do not foresee the national economy improving much in the coming months, and they will likely hold off on any increases in hiring, business development and investments, a recent quarterly business outlook survey by Capital One Bank found. However, local business leaders are reasonably optimistic about Baton Rouge’s economy as the region … Continue reading →
Colorado-based SundropFuels Inc. said Wednesday it will partner with technology and engineering supplier ThyssenKrupp Uhde for a previously announced commercial “green gasoline” production facility near Alexandria. The proposed $450 million refinery will be built on 1,200 acres and is expected to create 150 new jobs. The plant, announced in November by Sundrop, will combine forest waste with hydrogen from … Continue reading →
SAN FRANCISCO — Google has completed its $12.5 billion purchase of device maker Motorola Mobility in a deal that poses new challenges for the Internet’s most powerful company as it tries to shape the future of mobile computing. The deal closed Tuesday, nine months after Google Inc. made a surprise announcement that it wanted to … Continue reading →
NEW YORK — Just how nervous are investors about Greece? All it took to derail a day of stock market gains was a headline saying that the country was preparing to leave the euro, an outcome many analysts expect to happen eventually. Major indexes were higher for most of the day after the National Association … Continue reading →
WASHINGTON — Federal regulators are reviewing what JPMorgan Chase told investors about its finances and the risks it took weeks before suffering a multibillion-dollar trading loss. Mary Schapiro, chairman of the Securities and Exchange Commission, told the Senate Banking Committee on Tuesday that the agency is examining JPMorgan’s earnings statements and first-quarter financial reports to … Continue reading →
NEW YORK (AP) — Just how nervous are investors about Greece? All it took to derail a day of stock market gains was a headline saying that the country was preparing to leave the euro, an outcome many analysts expect to happen eventually. Major indexes were higher for most of the day after the National Association of … Continue reading →
AT&T will spend $2 million overhauling the electrical system and adding two standby generators to its downtown facility, an upgrade that will add two floors to the eight-story building by April 2013. The large antenna that’s been on the building for years was removed earlier this month in preparation for the work. AT&T spokeswoman Sue Sperry … Continue reading →
The East Baton Rouge Parish Planning Commission approved a final development plan Monday for a 17-home subphase of Rouzan over the objections of nearby residents who said a vote taken last month, where the plan failed, should have been allowed to stand. The commission also deferred action on Bethany World Prayer Center’s proposed church and … Continue reading →
Baton Rouge-based specialty chemicals maker Albemarle Corp. is well on its way to reaching its 2015 goal of more than $5 billion in revenue and earnings of more than $9 per share, Chief Executive Officer Luke Kissam said Tuesday. Kissam spoke during the company’s investor day presentation in New York, which was webcast on the Internet. Albemarle set those … Continue reading →
NEW ORLEANS — Tidewater Inc., a major vessel transportation provider for the offshore petroleum industry, said Monday that its fiscal fourth-quarter net income more than doubled as the year-ago period was weighed down by some charges. The New Orleans company earned $33.6 million, or 66 cents per share, for the period ended March 31. That’s … Continue reading →
BEIJING — A Chinese conglomerate announced Monday it will buy a major U.S. cinema chain, AMC Entertainment Holdings, for $2.6 billion in China’s biggest corporate takeover in the United States to date. Dalian Wanda Group Co.’s purchase reflects the global ambitions of a wave of cash-rich Chinese companies that are using acquisitions to speed their … Continue reading →
SAN JOSE, Calif. — After Facebook stock narrowly stayed above the initial public offering price during its first day of trading, the price fell hard and fast Monday, knocking more than 10 percent off the company’s record-breaking initial valuation. “Investors are increasingly aware of the risk embedded in the stock price. There are … Continue reading →
NEW YORK — JPMorgan Chase is suspending plans to buy back its own stock, a little over a week after the bank posted a large trading loss. JPMorgan was scheduled to buy back $15 billion shares through the end of the first quarter of 2013. Usually, the bank buys back the shares it issues for … Continue reading →
NEW YORK — Forget Facebook. This is still Apple’s stock market. Apple — the world’s most valuable company, the innovator that revolutionized the cellphone — climbed nearly 6 percent on Monday, helping propel major U.S. stock indexes to gains after a solid week of losses. The Standard & Poor’s 500, where Apple accounts for … Continue reading →
NEW YORK (AP) — Forget Facebook. This is still Apple’s stock market. Apple — the world’s most valuable company, the innovator that revolutionized the cell phone — climbed nearly 6 percent on Monday, helping propel major U.S. stock indexes to gains after a solid week of losses. The Standard & Poor’s 500, where Apple accounts for 4 … Continue reading →
The Shaw Group Inc. announced it has entered into a definitive agreement to sell substantially all of its energy and chemicals business for about $300 million to Technip, a Paris-based offshore oil and gas exploration firm. The Energy and Chemicals Group has been a source of economic losses for Shaw, an international construction and engineering firm with … Continue reading →
NEW YORK (AP) — Facebook’s stock is tumbling well below its $38 IPO price in the social network’s second day of trading as a public company on Monday. By late afternoon, Facebook’s stock was at $34.26, down 10.4 percent from Friday’s closing price of $38.23. The company lost nearly $10 billion of its market value, and is … Continue reading →
The LSU AgCenter will have a rice field day and a forage field day for farmers. Rice farmers can hear from LSU AgCenter scientists and tour a new railroad loading facility at Lacassine during the Southwest Rice Field Day on May 30. Registration is at … Continue reading →
In early 2010, Dr. L. Lee Montgomery was practicing in the McComb, Miss., area when an article in Medical Economics magazine caught his eye. The story was about a North Carolina physician who didn’t accept insurance or file claims paperwork; whose patients paid him at each visit; only worked an eight-hour day; and earned twice as much as … Continue reading →
The city-parish Planning Commission will reconsider a final development plan Monday for a 17-home subphase of Rouzan, as well as a concept plan for Mallard Park, a 90-lot development north of Hoo Shoo Too Road that previously drew strong opposition from neighbors. The final development plan for Rouzan Phase 3C actually failed 4-2 last month when it … Continue reading →
PUBLIC RELATIONS ASSOCIATION OF LOUISIANA-BATON ROUGE CHAPTER --WHEN: Tuesday, 11:30 a.m. --WHERE: Juban’s Restaurant, 3739 Perkins Road --SPEAKER: Larry Lovell, of Peter A. Mayer Advertising, on “Katrina and Beyond – Launching a Major New Hurricane Exhibit to National Fanfare” Continue reading →
Will Waldrop has been named state sales manager for the Louisiana Farm Bureau Insurance Companies. Waldrop was district sales manager in Shreveport for north Louisiana. He will be based in Baton Rouge. Regions Bank has named Brigg A. Baechle as senior credit officer in Baton Rouge, managing the bank's credit risk function for the south Louisiana market, with responsibility for commercial … Continue reading →
Michelle Sorrells, of Walters, Papillion, Thomas, Cullens LLC in Baton Rouge, was presented the President's Award by the Louisiana Bar Foundation. The award recognizes outstanding support, volunteer service, dedication and the advancement of the mission and goals of the LBF. Louisiana Workers' Compensation Corp. received the LBF's Horn Blower Award, given to a partner organization in recognition of outstanding support … Continue reading →
Prism Hotels & Resorts of Dallas will take over the management of the downtown Hilton Monday and decide within 60 days whether it will buy the property from Commercial Properties Realty Trust. Mukul Verma, spokesman for Commercial Properties, said a management deal was signed about a week ago. Terms were not disclosed. The hotel has been managed in-house since … Continue reading →
NEW ORLEANS — April dealt a losing hand to Louisiana’s state-licensed casinos, with most raking in fewer winnings last month compared with April 2011. State Police said Thursday that Harrah’s in downtown New Orleans, the state’s only land-based casino, took in $26.8 million last month. That’s 8.4 percent less than in April 2011 and 24.9 … Continue reading →
The U.S. Bureau of Labor Statistics on Friday released an April jobs report for Louisiana that the agency acknowledged is flawed. The report showed 44,900 jobs gained in the past year. The BLS report also said the state’s seasonally adjusted unemployment rate was 7.1 percent in April, down from 7.4 percent a year ago. State officials … Continue reading →
It’s going to take more than Facebook’s initial public offering to push the stock market higher. Facebook shares rose 23 cents above their $38 offering price. It seemed like everything else fell. The Dow Jones industrial average has been in a slump over the past two weeks as traders saw an escalating risk that Greece could … Continue reading →
NEW YORK — It was barely a “like” and definitely not a “love” from Facebook investors as the online social network’s stock failed to live up to the hype in its trading debut Friday. One of the most highly anticipated IPOs in Wall Street history ended on a bland note, with Facebook’s stock closing at … Continue reading →
It’s going to take more than Facebook’s initial public offering to push the stock market higher. Facebook shares rose 23 cents above their $38 offering price. It seemed like everything else fell. The Dow Jones industrial average has been in a slump over the past two weeks as traders saw an escalating risk that Greece could … Continue reading →
Louisiana’s property insurer of last resort has gotten permission to secure a $75 million line of credit in case a hurricane damages the state. The Louisiana Citizens Property Insurance Corp. has enough money set aside to cover a $110 million legal judgment against the company, but … Continue reading →
Terry Jones, executive director of the Regional Innovation Organization, is resigning from his post amid communication disputes with the entrepreneurial group’s leadership board, Jones and board members said Thursday. His resignation is effective July 31. RIO, as the entrepreneurial liaison organization is commonly known, is funded and ultimately led by the Research Park Corp. Continue reading →