April 9, 2014 in Business

In brief: NHTSA fines General Motors for ignition data delay

From Wire Reports
 

DETROIT – A government safety agency is fining General Motors $7,000 a day, saying the company failed to fully respond to its requests for information about a faulty ignition switch by an April 3 deadline.

The National Highway Traffic Safety Administration said in a letter to GM on Tuesday that the company already owes $28,000 in fines, and they will accrue at $7,000 per day until it provides all the requested information.

In February, the agency began investigating whether GM was slow to provide information and respond to problems with the switch that has been linked to at least 13 deaths. GM has admitted knowing that the switch was defective at least a decade ago, but failed to start recalling 2.6 million compact cars worldwide until this year.

Summer gasoline price may be lowest since ’10

NEW YORK – Drivers will get the slightest of breaks on gasoline prices this summer, according to the Energy Department.

The national average price is forecast to fall – by just one cent – to $3.57 a gallon between April and September, the months when Americans do most of their driving.

Still, that would be the lowest average summer price since 2010.

For the year, the department’s Energy Information Administration expects gasoline to average $3.45 a gallon, down from $3.51 last year and also the lowest since 2010.

P&G changes policy on palm oil sourcing

The Procter & Gamble Co. has updated its policy on palm oil following high-profile protests by Greenpeace at its Cincinnati headquarters.

The world’s largest consumer products company said Tuesday that it has adopted a “no-deforestation” policy for its palm oil supply. The new goals go beyond its existing policy and aim to ensure its products do not contribute to deforestation. The company said it will work with suppliers and others to ensure it meets this goal by 2020. It will also establish traceability of its palm oil-related supply by 2015.

Greenpeace said P&G’s announcement is a huge step toward protecting Indonesia’s rainforests but warned that much work still remains.

The group wanted P&G to take action after finding that some of its suppliers were linked to deforestation in areas that are home to the endangered Sumatran tiger and orangutan, among other species.

Job openings increase in February, feds say

WASHINGTON – U.S. employers posted more job openings in February, a sign that hiring will likely improve in the months ahead.

The Labor Department said Tuesday that employers advertised 4.2 million job openings, up 7.7 percent from January. That’s the highest number of postings since January 2008.

News site purchases Alaska’s biggest paper

ANCHORAGE, Alaska – An online competitor announced plans Tuesday to buy Alaska’s largest daily newspaper.

Alaska Dispatch Publishing LLC, the parent company of the online newspaper the Alaska Dispatch, will purchase the Anchorage Daily News from the McClatchy Co. for $34 million. The sale is expected to close in May.

The Anchorage Daily News will continue to be printed seven days a week, and there are no plans at this time to change its name, said Tony Hopfinger, Alaska Dispatch’s co-founder, executive editor and president. Plans are to integrate the two websites within six months.


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