Business | page 12

THURSDAY, JAN. 14, 2016

WEDNESDAY, JAN. 13, 2016

Al Jazeera America will shut down its cable TV network in April 

Cable news channel Al Jazeera America is shutting down operations on April 30. In a statement issued on the Al Jazeera America website, the entity’s CEO, Al Anstey, said the decision “is driven by the fact that our business model is simply not sustainable in light of the economic challenges in the U.S. media marketplace.”

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Stocks plunge as a dismal start to 2016 gets worse

The dismal start to 2016 on Wall Street got a lot worse Wednesday. Stocks tumbled again on fears of a global slowdown and alarm over plummeting oil prices, officially sending the Standard & Poor’s 500 index into what’s known as a correction, or a drop of 10 percent or more from its peak.

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A genetically engineered potato pokes  through the soil of a planting pot inside J.R. Simplot’s lab in southwestern Idaho in 2013. modified ingredients.

FDA gives OK for company’s genetically engineered potato 

BOISE – A potato genetically engineered to resist the pathogen that caused the Irish potato famine is as safe as any other potato on the market, the Food and Drug Administration says. In a letter Tuesday to Idaho-based J.R. Simplot Co., the FDA said the potato isn’t substantially different in composition or safety from other products already on the market, and it doesn’t raise any issues that would require the agency to do more stringent premarket vetting.

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Chipotle readies for ‘unprecedented’ marketing push after food safety crisis

Chipotle is preparing to make an “unprecedented” marketing push to bring back customers after E. coli, salmonella and norovirus were linked to illnesses at its restaurants. The Denver-based company also said its financial results will be “messy” this year as it recovers from the food safety crisis, but that it is “extremely confident” that it will eventually get its customers back. The stock, which has lost nearly half its value since the outbreaks surfaced, jumped nearly 6 percent Wednesday.

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Fed says economy expanded in 9 of 12 U.S. districts

WASHINGTON – The Federal Reserve says the economy expanded across most of the United States in December and early January. The Fed says in its latest snapshot of the economy that most of its 12 regional bank reported steady growth. The Atlanta and San Francisco banks described growth as “moderate.” The Philadelphia, Cleveland, Richmond, Chicago, St. Louis, Minneapolis and Dallas banks called the economy’s expansion “modest.”

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General Electric to move headquarters from Connecticut to Boston

HARTFORD, Conn. – General Electric announced Tuesday it will move its headquarters to Boston, leaving the sprawling suburban Connecticut campus it has called home over the past four decades for a technology-rich city it says better fits its ambitions as an innovation leader. Chairman and CEO Jeff Immelt said GE, one of the best-known companies in corporate America, wanted to be “at the center of an ecosystem that shares our aspirations.”

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TUESDAY, JAN. 12, 2016

A man surfs Internet on his laptop at a Starbucks cafe in Beijing.

Starbucks to help pay for workers’ housing in China

The move is the latest in a series of benefits that Seattle-based Starbucks has been extending to big swaths of its workforce in different markets – from subsidized college tuition and pay raises in the United States, to loans for rent deposits in the United Kingdom.

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Horizon to add Amicus in credit union merger

Horizon Credit Union is folding small Amicus Federal Credit Union into its growing network of Spokane-area locations. The deal is expected to close this spring or summer after the two credit union boards approve the merger. Horizon has about 65,000 ...

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Carhartt to open retail store in downtown Spokane 

Carhartt Inc. will open a downtown Spokane retail store in the historic Bennett Block building at the corner of Main and Howard. The company, known for making outdoor work clothes, will move into the building owned by Dru Hieber later this year.

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MONDAY, JAN. 11, 2016

Federal Reserve sends $97.7 billion in profits to Treasury

WASHINGTON – The Federal Reserve said Monday it sent a record $97.7 billion in profits to the U.S. Treasury as the central bank’s vast holdings of mortgage-backed securities and other investments continued to produce a bumper crop of interest income. On top of that, the Fed said it sent an additional $19.3 billion from a capital surplus account to help fund federal infrastructure projects under a controversial provision Congress included in a five-year highway bill in December.

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